Gas Smart (UK) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08413151 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

GAS SMART (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R McCarthy

REGISTERED OFFICE:

109 The Headlands

Kettering

Northamptonshire

NN15 6AB

REGISTERED NUMBER:

08413151 (England and Wales)

ACCOUNTANTS:

Elsby & Company Ltd

Thistle Down Barn

Holcot Lane

Sywell

Northampton

Northamptonshire

NN6 0BG

FIXED ASSETS

Intangible assets

3

-

-

Tangible assets

4

8,023

10,681

8,023

10,681

CURRENT ASSETS

Stocks

367

525

Debtors

5

22,705

10,585

Cash at bank

28,498

13,529

51,570

24,639

CREDITORS

Amounts falling due within one year

6

30,721

32,874

NET CURRENT ASSETS/(LIABILITIES)

20,849

(8,235

)

TOTAL ASSETS LESS CURRENT LIABILITIES

28,872

2,446

PROVISIONS FOR LIABILITIES

1,364

2,029

NET ASSETS

27,508

417

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

27,408

317

SHAREHOLDERS' FUNDS

27,508

417

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 12 December 2017 and were signed by:

R McCarthy - Director

1.	STATUTORY INFORMATION

Gas Smart (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, has been fully amortised evenly

over its estimated useful life of three years.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

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

date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been

enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

10,000

AMORTISATION

At 1 April 2016

and 31 March 2017

10,000

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

-

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2016

and 31 March 2017

500

14,586

1,345

16,431

DEPRECIATION

At 1 April 2016

249

4,156

1,345

5,750

Charge for year

51

2,607

-

2,658

At 31 March 2017

300

6,763

1,345

8,408

NET BOOK VALUE

At 31 March 2017

200

7,823

-

8,023

At 31 March 2016

251

10,430

-

10,681

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

22,705

10,042

Other debtors

-

543

22,705

10,585

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

13,829

7,945

Taxation and social security

10,643

5,533

Other creditors

6,249

19,396

30,721

32,874

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

8.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS 102. The last financial statements under previous

UK GAAP were for the year ended 31 March 2016. The date of transition to FRS 102 was 1 April 2015. The transition to

FRS 102 did not result in any changes in accounting policies and so there are no differences between the profit for the

financial year ended 31 March 2016 and the total equity as at 1 April 2015 and 31 March 2016 under UK GAAP as

previously reported and FRS 102.