SMART ENERGY, FIRE AND SECURITY SOLUTIONS LIMITED 31/01/2018 iXBRL

SMART ENERGY, FIRE AND SECURITY SOLUTIONS LIMITED 31/01/2018 iXBRL

SMART ENERGY, FIRE AND SECURITY SOLUTIONS LIMITED - Company Information

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SMART ENERGY, FIRE AND SECURITY SOLUTIONS LIMITED
Unaudited filleted financial statements
31 January 2018
Company registration number 10556086
SMART ENERGY, FIRE AND SECURITY SOLUTIONS LIMITED
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
SMART ENERGY, FIRE AND SECURITY SOLUTIONS LIMITED
Directors and other information
Directors Mr D.T. Hardwick (Appointed 10 January 2017)
Mr R. Harte (Appointed 10 January 2017)(Resigned 4 April 2018)
Company number 10556086
Registered office Grove House, 1 Sheldon Way
Larkfield
West Malling
Kent
ME20 6SE
Business address Grove House
1 Sheldon Way
Larkfield, West Malling
Kent
ME20 6SE
Accountants J.A.D. Associates Limited
4 Bloors Lane
Rainham
Gillingham
Kent
SMART ENERGY, FIRE AND SECURITY SOLUTIONS LIMITED
Statement of financial position
31 January 2018
31/01/18
Note £ £
Current assets
Stocks 17,556
Debtors 5 9,247
Cash at bank and in hand 9,181
_______
35,984
Creditors: amounts falling due
within one year 6 ( 179,460)
_______
Net current liabilities ( 143,476)
_______
Total assets less current liabilities ( 143,476)
_______
Net liabilities ( 143,476)
_______
Capital and reserves
Called up share capital 100
Profit and loss account ( 143,576)
_______
Shareholders deficit ( 143,476)
_______
For the period ending 31 January 2018 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 period 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 10 October 2018 , and are signed on behalf of the board by:
Mr D.T. Hardwick
Director
Company registration number: 10556086
SMART ENERGY, FIRE AND SECURITY SOLUTIONS LIMITED
Notes to the financial statements
Period ended 31 January 2018
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Grove House, 1 Sheldon Way, Larkfield, West Malling, Kent, ME20 6SE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
As at 31 January 2018 the balance sheet shows an insolvent position. These accounts have been prepared on a going concern basis as the director, D T Hardwick, and his associated Companies have agreed to continue to support the Company to ensure it is able to meet its debts as they fall due.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 6
5. Debtors
31/01/18
£
Trade debtors 7,784
Other debtors 1,463
_______
9,247
_______
6. Creditors: amounts falling due within one year
31/01/18
£
Trade creditors 16,050
Social security and other taxes 6,731
Other creditors 156,679
_______
179,460
_______
7. Directors advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
Period ended 31/01/18
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr D.T. Hardwick - 80 80
Mr R. Harte - 20 20
_______ _______ _______
- 100 100
_______ _______ _______
8. Related party transactions
During the period the company entered into the following transactions with related parties:
Transaction value Balance owed by /(owed to)
Period Period
ended ended
31/01/18 31/01/18
£ £
Purchases from Charles Edward Limited 40,190 ( 5,419)
Sales to Charles Edward Limited 53,388 -
Loan from Charles Edward Limited 155,260 ( 155,260)
_______ _______
The above Company is controlled by D Hardwick. All these transactions have been carried out at market rate and any balances outstanding are interest, free unsecured and have no fixed repayment schedules.
9. Controlling party
The company is controlled by Mr D.T. Harwick, director and majority shareholder.