SMC Developments Ltd
SMC Developments Ltd
Financial Statements
For the Period
1 May 2020
to
31 March 2021
SMC Developments Ltd
Financial Statements
For the Period
1 May 2020
to
31 March 2021
Financial Statements
| Contents | |
| Page | |
|---|---|
| Accountants' Report | 1 |
| Statement of Financial Position | 2—3 |
| Notes to the Financial Statements | 4 |
SMC Developments Ltd
Accountants' Report
For the Period
1 May 2020
to
31 March 2021
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of
SMC Developments Ltd
For the Period 1 May 2020 to 31 March 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
SMC Developments Ltd
For the Period 1 May 2020 to 31 March 2021 which comprise the Income Statement, the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of
SMC Developments Ltd
, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of
SMC Developments Ltd
and state those matters that we have agreed to state to the directors of
SMC Developments Ltd
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
SMC Developments Ltd
and its directors, as a body, for our work or for this report.
It is your duty to ensure that
SMC Developments Ltd
has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of
SMC Developments Ltd
. You consider that
SMC Developments Ltd
is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit of the accounts of
SMC Developments Ltd
. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
|
|
Chartered Accountants
12 Payton Street
Stratford upon Avon
Warwickshire
CV37 6UA
Page 1
SMC Developments Ltd
Statement of Financial Position
As at
31 March 2021
Statement of Financial Position
Registered number:
09526605
For the period ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 31 March 2021 | 30 April 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Stocks |
|
|
|||
| Debtors |
|
|
|||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year |
( |
( |
|||
| NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
| Creditors: Amounts Falling Due After More Than One Year |
( |
|
|||
| NET ASSETS |
|
|
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 3 |
|
|
||
| Income Statement |
|
|
|||
| SHAREHOLDERS' FUNDS | 196,676 | 27,195 | |||
Page 2
SMC Developments Ltd
Statement of Financial Position (continued)
As at
31 March 2021
Directors' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
|
Director
|
Director
|
|
|
The notes on page 4 form part of these financial statements.
Page 3
SMC Developments Ltd
Notes to the Financial Statements
For the Period
1 May 2020
to
31 March 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.
1.3.
Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
1.4.
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2.
Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2020: 2)
4.
General Information
SMC Developments Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
09526605
. The registered office is 12 Payton Street, Stratford upon Avon, Warwickshire, CV37 6UA.
Page 4