Smarter Cover Limited - Period Ending 2018-01-31
Smarter Cover Limited - Period Ending 2018-01-31
Registration number:
Smarter Cover Limited
for the Year Ended 31 January 2018
65 Compton Street
London
EC1V 0BN
Smarter Cover Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Smarter Cover Limited
Company Information
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Director |
Mr Mohammed Shakeel |
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Registered office |
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Accountants |
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Page 1 |
Smarter Cover Limited
(Registration number: 07123871)
Balance Sheet as at 31 January 2018
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Note |
2018 |
2017 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
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Page 2 |
Smarter Cover Limited
(Registration number: 07123871)
Balance Sheet as at 31 January 2018
Approved and authorised by the
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Mr Mohammed Shakeel
Director
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Page 3 |
Smarter Cover Limited
Notes to the Financial Statements for the Year Ended 31 January 2018
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General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The directors are aware that the company may be unable to realise its assets to discharge its liabilities in the normal course of business. However, given the continuing efforts to increase revenue, the directors continue to adopt the going concern basis of accounting.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Computer equipment |
33% stright line method |
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Leasehold property |
33% stright line method |
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Furniture and fittings |
33% stright line method |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Intangible assets |
5 years |
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Page 4 |
Smarter Cover Limited
Notes to the Financial Statements for the Year Ended 31 January 2018
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Page 5 |
Smarter Cover Limited
Notes to the Financial Statements for the Year Ended 31 January 2018
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Intangible assets |
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Other intangible assets |
Total |
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Cost or valuation |
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At 1 February 2017 |
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Additions acquired separately |
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At 31 January 2018 |
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Amortisation |
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At 1 February 2017 |
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Amortisation charge |
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At 31 January 2018 |
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Carrying amount |
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At 31 January 2018 |
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At 31 January 2017 |
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 February 2017 |
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Additions |
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At 31 January 2018 |
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Depreciation |
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At 1 February 2017 |
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Charge for the year |
- |
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At 31 January 2018 |
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Carrying amount |
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At 31 January 2018 |
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At 31 January 2017 |
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Page 6 |
Smarter Cover Limited
Notes to the Financial Statements for the Year Ended 31 January 2018
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Debtors |
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2018 |
2017 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
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Note |
2018 |
2017 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Page 7 |