SMI (UK & Ireland) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09717210 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2017

FOR

SMI (UK & IRELAND) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J P McGovern

P Nava

REGISTERED OFFICE:

City View House

5 Union Street

Machester

Lancashire

M12 4JD

REGISTERED NUMBER:

09717210 (England and Wales)

ACCOUNTANTS:

Harringtons

4th Floor Permanent House

1 Leicester Street

Walsall

West Midlands

WS1 1PT

CURRENT ASSETS

Debtors

4

789,442

351,666

Cash at bank

748,932

224,213

1,538,374

575,879

CREDITORS

Amounts falling due within one year

5

1,354,991

499,767

NET CURRENT ASSETS

183,383

76,112

TOTAL ASSETS LESS CURRENT LIABILITIES

183,383

76,112

CAPITAL AND RESERVES

Called up share capital

35,000

35,000

Retained earnings

148,383

41,112

SHAREHOLDERS' FUNDS

183,383

76,112

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 27th April 2018 and were signed on its behalf by:

J P McGovern - Director

1.	STATUTORY INFORMATION

SMI (UK & Ireland) 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 is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 4 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

541,368

304,972

Advance payments

246,116

44,374

Prepayments

1,958

2,320

789,442

351,666

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

585,265

191,887

Amounts owed to group undertakings

94,567

30,000

Tax

50,592

21,903

Social security and other taxes

149,042

72,826

Other creditors

9,940

10,381

Advance receipts

407,675

119,346

Directors' current accounts

41,080

10,000

Accrued expenses

16,830

43,424

1,354,991

499,767

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is SMI Group S.p.A a company incorporated in Italy.