SMART_PHONE_TECHNOLOGIES_ - Accounts

SMART PHONE TECHNOLOGIES LIMITED - Company Information

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Company Registration No. 07141353 (England and Wales)

SMART PHONE TECHNOLOGIES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

SMART PHONE TECHNOLOGIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

SMART PHONE TECHNOLOGIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

Current assets

Stocks

516

5,055

Debtors

35,418

35,423

Cash at bank and in hand

5,098

1,895

41,032

42,373

Creditors: amounts falling due within one year

(40,624)

(39,954)

Net current assets

408

2,419

Total assets less current liabilities

408

2,436

Provisions for liabilities

(3)

408

2,433

Capital and reserves

Called up share capital

300

Other reserves

100

Profit and loss account

2,033

Shareholders' funds

408

2,433

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

Directors' responsibilities:

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

The directors acknowledge their 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 28 September 2016

Mr M Galvan

Director

Company Registration No. 07141353

SMART PHONE TECHNOLOGIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

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 January 2015).

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.

1.3

Turnover

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

1.4

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:

Fixtures, fittings & equipment

30% straight line

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

At 1 January 2015 & at 31 December 2015

5,113

Depreciation

At 1 January 2015

5,096

Charge for the year

At 31 December 2015

5,113

Net book value

At 31 December 2015

At 31 December 2014

SMART PHONE TECHNOLOGIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

300 Ordinary Shares of £1 each

300