SMART_ACCOUNTING_SOLUTION - Accounts

SMART ACCOUNTING SOLUTIONS (LONDON) LIMITED - Company Information

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Company Registration No. 07759740 (England and Wales)

SMART ACCOUNTING SOLUTIONS (LONDON) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2015

SMART ACCOUNTING SOLUTIONS (LONDON) LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

SMART ACCOUNTING SOLUTIONS (LONDON) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

20,000

70,000

Tangible assets

4,125

5,500

24,125

75,500

Current assets

Debtors

32,252

34,000

Cash at bank and in hand

16,875

3,479

49,127

37,479

Creditors: amounts falling due within one year

(32,656)

(36,482)

Net current assets

16,471

997

Total assets less current liabilities

40,596

76,497

Creditors: amounts falling due after more than one year

(34,572)

(51,119)

Provisions for liabilities

(264)

5,760

25,378

Capital and reserves

Called up share capital

100

Profit and loss account

5,660

25,278

Shareholders' funds

5,760

25,378

SMART ACCOUNTING SOLUTIONS (LONDON) LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 AUGUST 2015

- 2 -

For the financial year ended 31 August 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 10 March 2016

Mr B Peake

Director

Company Registration No. 07759740

SMART ACCOUNTING SOLUTIONS (LONDON) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Motor vehicles

25% reducing balance

1.6

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 September 2014 & at 31 August 2015

100,000

7,333

107,333

Depreciation

At 1 September 2014

30,000

1,833

31,833

Charge for the year

50,000

1,375

51,375

At 31 August 2015

80,000

3,208

83,208

Net book value

At 31 August 2015

20,000

4,125

24,125

At 31 August 2014

70,000

5,500

75,500

SMART ACCOUNTING SOLUTIONS (LONDON) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2015

- 4 -

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £1,537).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £6,119).

Share capital

2015

2014

Allotted, called up and fully paid

100 ordinary shares of £1 each

100

Related party relationships and transactions

Other transactions

At the year end the company owed the director Mr B Peake £37,438 (2014: £49,653) of which £30,000 (2014: £45,000) is disclosed as a long term liability. The director has given his assurance that this £30,000 (2014-£45,000) will not be withdrawn to the detriment of the company within twelve months of signature of these financial statements.

During the year the company traded rent free from the director's home address.