Smart Commercial Vehicles Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 13168052 (England and Wales)

Unaudited Financial Statements

for the Period 29 January 2021 to 31 December 2021

for

Smart Commercial Vehicles Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

Current assets

Stocks

29,250

Debtors

4

3,135

Cash at bank

1,972

34,357

Creditors: amounts falling due within one year

5

39,274

Net current liabilities

(4,917

)

Total assets less current liabilities

(4,917

)

Capital and reserves

Called up share capital

6

100

Retained earnings

(5,017

)

Shareholders' funds

(4,917

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2021 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2022 and were signed on its behalf by:

J G Grindall - Director

1.	Statutory information

Smart Commercial Vehicles Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

13168052

Registered office:

85 Church Road

Hove

East Sussex

BN3 2BB

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Stock is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the profit and lossProfit and Loss Account, 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.

Significant events affecting the company

During the period, the UK and many other countries around the world have imposed restrictions on daily life that have impacted their economies. The company has begun to see the effect of these restrictions in these accounts but it is too early to determine the full financial impact.

3.	Employees and directors

The average number of employees during the period was NIL.

4.

Debtors: amounts falling due within one year

£

Other debtors

3,135

5.

Creditors: amounts falling due within one year

£

Other creditors

39,274

6.	Called up share capital

Allotted and issued:

Number:

Class:

Nominal

value:

£

50

Share capital 1

£1

50

50

Share capital 2

£1

50

100

7.	Related party disclosures

Other creditors include balances of £37,523 owed to shareholders.