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

REGISTERED NUMBER: 04028594 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2019

for

Smart Ash Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I Atkinson

G A Hutchinson

R A K H Iten

Mrs C A Galiano-Iten

SECRETARY:

R A Tait FCCA

REGISTERED OFFICE:

6 Queens Court

Third Avenue

Team Valley

Gateshead

Tyne and Wear

NE11 0BU

REGISTERED NUMBER:

04028594 (England and Wales)

ACCOUNTANTS:

Inspire Chartered Accountants

6 Queens Court

Third Avenue

Team Valley

Gateshead

Tyne and Wear

NE11 0BU

FIXED ASSETS

Intangible assets

4

977

977

CURRENT ASSETS

Debtors

5

9,730

9,730

Cash at bank and in hand

791

791

10,521

10,521

CREDITORS

Amounts falling due within one year

6

39,976

39,976

NET CURRENT LIABILITIES

(29,455

)

(29,455

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(28,478

)

(28,478

)

CAPITAL AND RESERVES

Called up share capital

7

1,200

1,200

Retained earnings

(29,678

)

(29,678

)

SHAREHOLDERS' FUNDS

(28,478

)

(28,478

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 applicable to companies subject to the small companies regime.

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 18 February 2020 and were signed on its behalf by:

I Atkinson - Director

1.	STATUTORY INFORMATION

Smart Ash 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. This assumes that the business will continue to benefit from the support of its creditors and directors. Should this basis become inappropriate, fixed assets and long term liabilities would have to be reclassified as current assets and current liabilities respectively.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 January 2019

and 31 December 2019

977

NET BOOK VALUE

At 31 December 2019

977

At 31 December 2018

977

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

9,730

9,730

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade creditors

36,291

36,291

Amounts owed to participating interests

593

593

Taxation and social security

49

49

Other creditors

3,043

3,043

39,976

39,976

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.19

31.12.18

value:

£

£

1,200

Ordinary

£1

1,200

1,200

8.	RELATED PARTY DISCLOSURES

Included within trade creditors is a balance due to Hutchinson & Associates of £33,897 (2016: £33,897), a company based in the USA of which Mr G A Hutchinson is a director.