Smart Schoolwear Centre Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09597454 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2018

FOR

SMART SCHOOLWEAR CENTRE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M T Aslam

REGISTERED OFFICE:

12 New John Street

Bradford

Yorkshire

BD1 2QZ

REGISTERED NUMBER:

09597454 (England and Wales)

ACCOUNTANTS:

DBF Associates

Chartered Accountants

South Cheetham B C

10 Park Place

Manchester

Lancashire

M4 4EY

CURRENT ASSETS

Stocks

130,356

151,475

Debtors

4

(28,237

)

17,179

Cash at bank and in hand

23,423

41,321

125,542

209,975

CREDITORS

Amounts falling due within one year

5

88,758

172,176

NET CURRENT ASSETS

36,784

37,799

TOTAL ASSETS LESS CURRENT LIABILITIES

36,784

37,799

CAPITAL AND RESERVES

Called up share capital

6

150

150

Retained earnings

7

36,634

37,649

SHAREHOLDERS' FUNDS

36,784

37,799

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2018 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 Income Statement has not been delivered.

The financial statements were approved by the director on 22nd January 2019 and were signed by:

M T Aslam - Director

1.	STATUTORY INFORMATION

Smart Schoolwear Centre Ltd 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2017 - 18 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

-

(10,000

)

VAT

6,763

-

Prepayments and accrued income

(35,000

)

-

Prepayments

-

27,179

(28,237

)

17,179

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

54,192

61,410

Tax

17,870

28,565

Social security and other taxes

946

3,820

VAT

-

4,881

Other creditors

7,000

35,000

Directors' current accounts

-

35,000

Directors' loan accounts

5,000

-

Accrued expenses

3,750

3,500

88,758

172,176

6.	CALLED UP SHARE CAPITAL

**	POSTING HAS BEEN MADE TO SHARE CAPITAL 2 ACCOUNT ON TRIAL BALANCE BUT NO CORRESPONDING ENTRY HAS BEEN MADE ON CLIENT SCREEN FOR SHARE CAPITAL 2

THIS NOTE WILL THEREFORE NOT AGREE TO AMOUNT SHOWN ON

BALANCE SHEET

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary Shares

1

150

100

7.

RESERVES

Retained

earnings

£

At 1st May 2017

37,649

Profit for the year

76,185

Dividends

(77,200

)

At 30th April 2018

36,634