Smart Tank UK Limited - Limited company - abbreviated

REGISTERED NUMBER: 04596760 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2015

FOR

SMART TANK UK LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

N. S. Sherwood

SECRETARY:

Mrs L. Sherwood

REGISTERED OFFICE:

Bay 1

Alveley Industrial Estate

Alveley

Bridgnorth

Shropshire

WV15 6HG

REGISTERED NUMBER:

04596760 (England and Wales)

ACCOUNTANTS:

Stanton Ralph & Co Limited

Chartered Accountants

The Old Police Station

Whitburn Street

Bridgnorth

Shropshire

WV16 4QP

FIXED ASSETS

8,750

Intangible assets

2

7,750

56,437

Tangible assets

3

62,819

65,187

70,569

CURRENT ASSETS

40,874

Stocks

44,600

86,994

Debtors

101,222

970

Cash in hand

250

128,838

146,072

CREDITORS

181,174

Amounts falling due within one year

4

195,282

(52,336

)

NET CURRENT LIABILITIES

(49,210

)

12,851

TOTAL ASSETS LESS CURRENT
LIABILITIES

21,359

CREDITORS

(9,491

)

Amounts falling due after more than one
year

4

(15,694

)

(2,171

)

PROVISIONS FOR LIABILITIES

(3,903

)

1,189

NET ASSETS

1,762

CAPITAL AND RESERVES

290

Called up share capital

5

290

899

Profit and loss account

1,472

1,189

SHAREHOLDERS' FUNDS

1,762

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 16th September 2015 and were signed by:

N. S. Sherwood - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

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

Land and buildings

-

5% on cost

Plant and machinery etc

-

25% on cost and 25% on reducing balance

Freehold property is not depreciated.

Stocks

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

moving items.

Deferred tax

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

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2014

and 31st March 2015

20,000

AMORTISATION

At 1st April 2014

11,250

Amortisation for year

1,000

At 31st March 2015

12,250

NET BOOK VALUE

At 31st March 2015

7,750

At 31st March 2014

8,750

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2014

71,859

Additions

16,000

At 31st March 2015

87,859

DEPRECIATION

At 1st April 2014

15,422

Charge for year

9,618

At 31st March 2015

25,040

NET BOOK VALUE

At 31st March 2015

62,819

At 31st March 2014

56,437

4.

CREDITORS

Creditors include an amount of £ 62,624 (31.3.14 - £ 31,848 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

290

Ordinary

£1

290

6.	TRANSACTIONS WITH DIRECTORS

During the year net directors' loans were made by the company to N.S. Sherwood of £17,472 (2014 - £2,668).

During the year total dividends of £36,337 (2014 - £29,928) were declared in favour of N.S. Sherwood. The
dividends are reflected within the directors' loan account movements within the preceding paragraph.

During the year total dividends of £29,203 (2014 - £19,952) were declared in favour of Mrs L Sherwood, wife of
N.S. Sherwood.

At 31st March 2015 the company was owed total loans of £21,572 (2014 - £4,100) by N.S. Sherwood, the

director of the company. No interest is charged.

Smart Tank UK Limited - Limited company - abbreviated - 11.9

Smart Tank UK Limited - Limited company - abbreviated - 11.9