SMS Metering Limited - Accounts to registrar

REGISTERED NUMBER: 05557645 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

SMS METERING LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Miss L Sodin

SECRETARY:

V Sodin

REGISTERED OFFICE:

The Granary

Brewer Street

Bletchingley

Surrey

RH1 4QP

REGISTERED NUMBER:

05557645 (England and Wales)

ACCOUNTANTS:

Lees Chartered Accountants

The Granary

Brewer Street

Bletchingley

Surrey

RH1 4QP

CURRENT ASSETS

Stocks

78,832

144,120

Debtors

4

4,210

11,092

Cash at bank

6,146

36,685

89,188

191,897

CREDITORS

Amounts falling due within one year

5

111,702

167,480

NET CURRENT (LIABILITIES)/ASSETS

(22,514

)

24,417

TOTAL ASSETS LESS CURRENT
LIABILITIES

(22,514

)

24,417

CAPITAL AND RESERVES

Called up share capital

11,000

Retained earnings

(33,514

)

13,417

SHAREHOLDERS' FUNDS

(22,514

)

24,417

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 27 September 2017 and were signed by:

Miss L Sodin - Director

1.	STATUTORY INFORMATION

SMS Metering 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 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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 1 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

Trade debtors

1,930

9,292

Other debtors

2,280

1,800

4,210

11,092

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

Payments on account

697

831

Trade creditors

1,488

7,381

Amounts owed to group undertakings

95,332

81,316

Taxation and social security

5,431

63,441

Other creditors

8,754

14,511

111,702

167,480

6.	ULTIMATE CONTROLLING PARTY

The controlling party is SMS Manufacturing Limited which is under the control of director V Sodin.

7.	GOING CONCERN

The directors are concerned about the losses sustained this year and are taking appropriate action to

rectify the situation and in addition are currently supporting the Company financially.

8.	RELATED PARTY TRANSACTIONS

During the year SMS Metering gave £6,000 to SMS Manufacturing, a director and shareholder of the

Company.

SMS Metering issued credit notes to SMS Manufacturing totalling £34,416 during the year which add to

the intercompany balance outstanding of £95,332.

SMS Metering Limited - Accounts to registrar - small 17.2

SMS Metering Limited - Accounts to registrar - small 17.2