Smart-Iso Limited - Accounts to registrar (filleted) - small 18.2

Smart-Iso Limited - Accounts to registrar (filleted) - small 18.2

SMART-ISO LIMITED - Company Information

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REGISTERED NUMBER: 06006680 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2018

FOR

SMART-ISO LIMITED
SMART-ISO LIMITED (REGISTERED NUMBER: 06006680)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2018










Page

Company Information 1

Chartered Accountants' Report 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


SMART-ISO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2018







DIRECTORS: J R Moffat
M Sookhoo





REGISTERED OFFICE: 14 Postbridge Road
Styvechale
Coventry
West Midlands
CV3 5AH





REGISTERED NUMBER: 06006680 (England and Wales)





ACCOUNTANTS: Rothman Pantall LLP
Chartered Accountants
Fareham House
69 High Street
Fareham
Hampshire
PO16 7BB
Page 1
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SMART-ISO LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and
the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Smart-Iso Limited for the year ended 31st March 2018 which comprise the Statement of Income
and Retained Earnings, Abridged Balance Sheet and the related notes from the company's accounting records and from
information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Smart-Iso Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Smart-Iso Limited and state those matters that we have agreed to state to the Board of Directors of Smart-Iso Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Smart-Iso Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Smart-Iso Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Smart-Iso Limited. You consider that Smart-Iso Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Smart-Iso Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Rothman Pantall LLP
Chartered Accountants
Fareham House
69 High Street
Fareham
Hampshire
PO16 7BB


13th December 2018

This page does not form part of the statutory financial statements

Page 2
SMART-ISO LIMITED (REGISTERED NUMBER: 06006680)

ABRIDGED BALANCE SHEET
31ST MARCH 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3 3
Tangible assets 5 1,091 971
1,094 974

CURRENT ASSETS
Debtors 17,125 23,250
Cash at bank - 10,515
17,125 33,765
CREDITORS
Amounts falling due within one year 109,170 106,182
NET CURRENT LIABILITIES (92,045 ) (72,417 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(90,951
)
(71,443
)

CREDITORS
Amounts falling due after more than one
year
(10,308
)
(10,308
)

PROVISIONS FOR LIABILITIES - (69 )
NET LIABILITIES (101,259 ) (81,820 )

CAPITAL AND RESERVES
Called up share capital 151 151
Share premium 254,949 254,949
Retained earnings (356,359 ) (336,920 )
SHAREHOLDERS' FUNDS (101,259 ) (81,820 )

The notes on pages 5 to 7 form part of these financial statements

Page 3
SMART-ISO LIMITED (REGISTERED NUMBER: 06006680)

ABRIDGED BALANCE SHEET - continued
31ST MARCH 2018


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 Board of Directors on 13th December 2018 and were signed on its
behalf by:





J R Moffat - Director


The notes on pages 5 to 7 form part of these financial statements

Page 4
SMART-ISO LIMITED (REGISTERED NUMBER: 06006680)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2018


1. STATUTORY INFORMATION

Smart-Iso 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 the total value, excluding value added tax, of services provided during the year falling within
the company's ordinary activities.

Revenue for licences invoiced in advance is recognised in the period to which the service relates.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

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.

Research and development
Expenditure on research is written off in the year in which it is incurred. Development expenditure is written off in
the same year unless the directors are satisfied as to the technical, commercial and financial viability of
individual projects. In this situation, the expenditure is deferred and amortised over the period from which the
company is expected to benefit, currently over 3 years.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling
at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Page 5
SMART-ISO LIMITED (REGISTERED NUMBER: 06006680)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2018


2. ACCOUNTING POLICIES - continued

Going concern
The directors consider that, with their continued support and that of the bank until the company is profitable, it is
appropriate to draw the accounts up on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2017
and 31st March 2018 353,329
AMORTISATION
At 1st April 2017
and 31st March 2018 353,326
NET BOOK VALUE

At 31st March 2018 3
At 31st March 2017 3

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2017 5,238
Additions 325
At 31st March 2018 5,563
DEPRECIATION
At 1st April 2017 4,267
Charge for year 205
At 31st March 2018 4,472
NET BOOK VALUE
At 31st March 2018 1,091
At 31st March 2017 971

6. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank overdrafts 14,332 17,494
Bank loans - 1,830
14,332 19,324

The director J R Moffat has personally guaranteed the bank borrowings.

Page 6
SMART-ISO LIMITED (REGISTERED NUMBER: 06006680)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2018


7. GOING CONCERN

The accounts have been drawn up on a going concern basis as the director has confirmed that he will continue
to support the company until profitability has been achieved, and for at least 12 months from the date of approval
of these accounts.

Page 7