Sensible Computing Solutions Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02946106 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

Sensible Computing Solutions Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B Timms

S Beall

R Hagan

K Springthorpe

SECRETARY:

B Timms

REGISTERED OFFICE:

2b (Unit 4a)

Fir Tree Lane

Groby

Leicestershire

LE6 OFH

REGISTERED NUMBER:

02946106 (England and Wales)

ACCOUNTANTS:

Charnwood Accountants & Business Advisors LLP

The Point

Granite Way

Mountsorrel

Loughborough

Leicestershire

LE12 7TZ

FIXED ASSETS

Tangible assets

4

1,146

1,522

CURRENT ASSETS

Stocks

550

2,219

Debtors

5

34,227

35,207

Cash at bank and in hand

37,551

21,304

72,328

58,730

CREDITORS

Amounts falling due within one year

6

50,220

37,217

NET CURRENT ASSETS

22,108

21,513

TOTAL ASSETS LESS CURRENT LIABILITIES

23,254

23,035

PROVISIONS FOR LIABILITIES

218

289

NET ASSETS

23,036

22,746

CAPITAL AND RESERVES

Called up share capital

1,300

1,300

Share premium

13,100

13,100

Capital redemption reserve

700

700

Retained earnings

7,936

7,646

SHAREHOLDERS' FUNDS

23,036

22,746

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2021 and were signed on its behalf by:

B Timms - Director

S Beall - Director

R Hagan - Director

K Springthorpe - Director

1.	STATUTORY INFORMATION

Sensible Computing Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

50% on reducing balance and 20% on reducing balance

Government grants

Grants received from the government and local authorities are recognised at their fair value where there is a reasonable assurance that the grant will be received and the company will comply with all attached conditions, where applicable.

Government grants are included in the 'other operating income' line item. There are no unfulfilled conditions or other contingencies attaching to these grants.

Government grants relating to costs are deferred, when applicable, and recognised in profit or loss over the period necessary to match them with the costs that they are intended to compensate.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2019 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

11,883

Additions

1,175

Disposals

(3,807

)

At 31 December 2020

9,251

DEPRECIATION

At 1 January 2020

10,361

Charge for year

1,075

Eliminated on disposal

(3,331

)

At 31 December 2020

8,105

NET BOOK VALUE

At 31 December 2020

1,146

At 31 December 2019

1,522

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

31,035

32,116

Other debtors

3,192

3,091

34,227

35,207

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

11,612

1,740

Taxation and social security

14,282

10,919

Other creditors

24,326

24,558

50,220

37,217

7.	RELATED PARTY DISCLOSURES

New Century Applications Ltd is a company in which the directors have an interest.

During the year Sales were made to the above company totalling £3,689 ( 2019 - £5,926 ).

The company was also in receipt of the subcontract services of the above company totalling £48,507 ( 2019 - £43,197 ).

As at 31st December 2020 an amount was owed to New Century Applications Ltd by the company of £7,417 ( 2019 - £1,200 ).

8.	ULTIMATE CONTROLLING PARTY

The company is not under the control of any individual party.