| SMARTTRADE APP LTD |
| Registered number: |
06205886 |
| Abbreviated Balance Sheet |
| as at 30 April 2015 |
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| Notes |
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|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
1,125 |
|
|
1,275 |
| Tangible assets |
3 |
|
|
818 |
|
|
653 |
|
|
|
|
1,943 |
|
|
1,928 |
|
| Current assets |
| Debtors |
|
|
29,345 |
|
|
5,996 |
| Cash at bank and in hand |
|
|
11,535 |
|
|
2,106 |
|
|
|
40,880 |
|
|
8,102 |
|
| Creditors: amounts falling due within one year |
|
|
(2,601) |
|
|
(43,166) |
|
| Net current assets/(liabilities) |
|
|
|
38,279 |
|
|
(35,064) |
|
| Net assets/(liabilities) |
|
|
|
40,222 |
|
|
(33,136) |
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|
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|
| Capital and reserves |
| Called up share capital |
4 |
|
|
2 |
|
|
2 |
| Share premium |
|
|
|
580,468 |
|
|
262,299 |
| Profit and loss account |
|
|
|
(540,248) |
|
|
(295,437) |
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| Shareholders' funds |
|
|
|
40,222 |
|
|
(33,136) |
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| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
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|
|
| Mr K Van Schreven |
| Director |
| Approved by the board on 24 November 2015 |
|
| SMARTTRADE APP LTD |
| Notes to the Abbreviated Accounts |
| for the year ended 30 April 2015 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
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Turnover |
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Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
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Research and development |
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Expenditure on research and development is written off in the period in which it is incurred. |
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Intangible fixed assets |
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Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life. Where the directors consider that there has been a permanent impairment in value the asset is written off to its realisable value in the period of impairment. |
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|
Tangible fixed assets |
|
Tangible fixed assets of the company are valued at historic cost less accumulated depreciation and are depreciated over their useful economic life as follows: |
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Plant and machinery |
20% straight line |
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Leasing and hire purchase commitments |
|
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
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Going concern |
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The financial statements have been prepared on a going concern basis. The company sustained losses during the period however the directors are confident that the performance will be reversed when the research and development stage has been completed and the company becomes fully operational. On this basis, the directors are therefore of the opinion that they should continue to adopt the going concern basis in preparing the annual financial statements. |
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| 2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 May 2014 |
1,500 |
|
At 30 April 2015 |
1,500 |
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|
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Amortisation |
|
At 1 May 2014 |
225 |
|
Provided during the year |
150 |
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At 30 April 2015 |
375 |
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Net book value |
|
At 30 April 2015 |
1,125 |
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At 30 April 2014 |
1,275 |
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Intellectual property is being written off in equal annual instalments over an estimated economic life of 10 years. |
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| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 May 2014 |
823 |
|
Additions |
550 |
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At 30 April 2015 |
1,373 |
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Depreciation |
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At 1 May 2014 |
170 |
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Charge for the year |
385 |
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At 30 April 2015 |
555 |
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Net book value |
|
At 30 April 2015 |
818 |
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At 30 April 2014 |
653 |
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| 4 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£0.001 each |
|
2,025 |
|
2 |
|
2 |
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| Nominal |
Number |
Amount |
| value |
£ |
|
Shares issued during the period: |
|
Ordinary shares |
£0.001 each |
|
465 |
|
- |
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On 15 May 2014, the company issued 261 Ordinary shares of £0.001 each for a total consideration of £137,370.
On 23 June 2014, the company issued 57 Ordinary shares of £0.001 each for a total consideration of £30,010.
On 14 November 2014, the company issued 49 Ordinary shares of £0.001 each for a total consideration of £50,000 and a further 98 Ordinary shares of £0.001 each for a total consideration of £100,791. |
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| 5 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
|
Mr K Van Schreven |
429 |
|
- |
|
(429) |
|
- |
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|
429 |
|
- |
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(429) |
|
- |
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