Smarter Technologies Limited

SMARTER TECHNOLOGIES LTD - Company Information

2021-04-012022-03-312022-03-31false07172781Smarter Technologies 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Registered Number
07172781
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2022

Smarter Technologies Limited

Company Information
for the year from 1 April 2021 to 31 March 2022


Directors	John Stewart Miller


Registered Address	Unit 1 Broadfield Industrial Estate
	Seymour Street
	Heywood
	OL10 3AJ


Registered Number	07172781 (England and Wales)

Smarter Technologies Limited

Balance Sheet as at
31 March 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Tangible assets	6		9,319		6,027
			9,319		6,027
Current assets
Stocks		14,623		24,695
Debtors	7	15,859		61,707
Cash at bank and on hand		154,879		43,542
		185,361		129,944
Creditors amounts falling due within one year	8	(44,844)		(52,385)
Net current assets (liabilities)			140,517		77,559
Total assets less current liabilities			149,836		83,586
Creditors amounts falling due after one year	9		-		(4,760)
Provisions for liabilities	10		(1,771)		(1,145)
Net assets			148,065		77,681
Capital and reserves
Called up share capital			100		100
Profit and loss account			147,965		77,581
Shareholders' funds			148,065		77,681

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 17 October 2022, and are signed on its behalf by:

John Stewart Miller
Director
Registered Company No. 07172781

Smarter Technologies Limited

Notes to the Financial Statements
for the year ended 31 March 2022

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Accounting policies

	Property, plant and equipment policy
	Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

	Intangible assets policy
	Intangible Assets are amortised over their expected useful economic life of 4 years.

	Stocks policy
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Government grants and other government assistance policy
	Government grants are credited to the profit and loss account in the period in which they are received.

	Employee benefits policy
	The company operates a defined contribution pension scheme. Contributions payable to the company&amp;amp;apos;s pension scheme are charged to profit or loss in the period to which they relate.

4.	Employee information


		2022		2021
	Average number of employees during the year	3		3

5.	Intangible assets

		Total
		£
	Cost or valuation
	At 01 April 21	20,000
	At 31 March 22	20,000
	Amortisation and impairment
	At 01 April 21	20,000
	At 31 March 22	20,000
	Net book value
	At 31 March 22	-
	At 31 March 21	-

6.	Property, plant and equipment

		Total
		£
	Cost or valuation
	At 01 April 21	13,675
	Additions	4,465
	Disposals	(632)
	At 31 March 22	17,508
	Depreciation and impairment
	At 01 April 21	7,648
	Charge for year	1,067
	On disposals	(526)
	At 31 March 22	8,189
	Net book value
	At 31 March 22	9,319
	At 31 March 21	6,027

7.	Debtors

	2022	2021
	£	£
Trade debtors / trade receivables	13,796	59,334
Other debtors	970	500
Prepayments and accrued income	1,093	1,873
Total	15,859	61,707

8.	Creditors within one year

	2022	2021
	£	£
Trade creditors / trade payables	14,734	17,083
Bank borrowings and overdrafts	-	840
Taxation and social security	28,209	26,699
Accrued liabilities and deferred income	1,901	7,763
Total	44,844	52,385


	The bank borrowings are unsecured.

9.	Creditors after one year

	2022	2021
	£	£
Bank borrowings and overdrafts	-	4,760
Total	-	4,760


	The bank borrowings are unsecured.

10.	Provisions for liabilities

	2022	2021
	£	£
Net deferred tax liability (asset)	1,771	1,145
Total	1,771	1,145