Abbreviated Company Accounts - SMI TELECOMS LTD.

OS3 DIGITAL PLATFORM LIMITED - Company Information

06869454 SMI TELECOMS LTD. 2013-03-31 false 2012-04-01 2013-03-31 true 06869454 2012-04-01 2013-03-31 06869454 2013-03-31 06869454 2012-03-31 06869454 uk-gaap-cd-bus:Director1 2012-04-01 2013-03-31 06869454 uk-gaap-cd-bus:Director2 2012-04-01 2013-03-31 uk-gaap-cd-bus:Director3 2012-04-01 2013-03-31 uk-gaap-cd-bus:Director3 2013-03-31 uk-gaap-cd-bus:Director3 2012-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-04-01 2013-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-03-31 iso4217:GBP shares

Registered Number 06869454

SMI TELECOMS LTD.

Abbreviated Accounts

31 March 2013

SMI TELECOMS LTD. Registered Number 06869454

Abbreviated Balance Sheet as at 31 March 2013

	Notes	2013	2012
		£	£
Fixed assets
Tangible assets	2	16,384	14,686
		16,384	14,686
Current assets
Debtors		60,767	75,696
Cash at bank and in hand		62,827	23,213
		123,594	98,909
Creditors: amounts falling due within one year		(1,858,276)	(805,751)
Net current assets (liabilities)		(1,734,682)	(706,842)
Total assets less current liabilities		(1,718,298)	(692,156)
Creditors: amounts falling due after more than one year		(45,068)	(77,197)
Total net assets (liabilities)		(1,763,366)	(769,353)
Capital and reserves
Called up share capital	3	1,000	1,000
Profit and loss account		(1,764,366)	(770,353)
Shareholders' funds		(1,763,366)	(769,353)

For the year ending 31 March 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 14 August 2014

And signed on their behalf by:
G Brooks, Director

SMI TELECOMS LTD. Registered Number 06869454

Notes to the Abbreviated Accounts for the period ended 31 March 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The company relies on the financial support of its parent company and other group companies. If that support was withdrawn then the company could not continue as a going concern. The financial
statements do not include any adjustments that would result from a withdrawal of the support of its parent company and other group companies.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment - 25% Straight Line

Other accounting policies
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

2Tangible fixed assets

	£
Cost
At 1 April 2012	33,897
Additions	13,561
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2013	47,458
Depreciation
At 1 April 2012	19,211
Charge for the year	11,863
On disposals	-
At 31 March 2013	31,074
Net book values
At 31 March 2013	16,384
At 31 March 2012	14,686

3Called Up Share Capital
Allotted, called up and fully paid:

	2013 £	2012 £
1,000 Ordinary shares of £1 each	1,000	1,000

4Transactions with directors

Name of director receiving advance or credit:	G Brooks
Description of the transaction:	Loan
Balance at 1 April 2012:	£ 0
Advances or credits made:	£ 68,198
Advances or credits repaid:	£ 68,198
Balance at 31 March 2013:	£ 0

Related party relationships and transactions

Loans totalling £68,198 (2012: £68,198) made to the director, G Brooks, have been written off during the year.
At 31 March 2013 the following amounts were due to related companies:-
SMI Telecoms LLC £1,428,780 (2012: £550,204).