Share Credit Tech Limited - Limited company accounts 16.3

REGISTERED NUMBER: 09581541 (England and Wales)

Report of the Director and

Financial Statements for the Year Ended 31 March 2017

for

Share Credit Tech Limited

Page

Company Information

1

Report of the Director

2

Report of the Independent Auditors

3

Income Statement

5

Balance Sheet

6

Notes to the Financial Statements

7

DIRECTOR:

Ms Q Wang

REGISTERED OFFICE:

Suite E

18/F

40 Bank Street

London

E14 5NR

REGISTERED NUMBER:

09581541 (England and Wales)

AUDITORS:

Wilson & Co

Chartered Certified Accountants

3rd Floor

9 St. Clare Street

London

EC3N 1LQ

The director presents her report with the financial statements of the company for the year ended 31 March 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of business and domestic software development and

other information technology service activities.

DIRECTOR

Ms Q Wang held office during the whole of the period from 1 April 2016 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Report of the Director and the financial statements in accordance with

applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has

elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice

(United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial

statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or

loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's

transactions and disclose with reasonable accuracy at any time the financial position of the company and enable her to ensure

that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the

company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006)

of which the company's auditors are unaware, and she has taken all the steps that she ought to have taken as a director in

order to make herself aware of any relevant audit information and to establish that the company's auditors are aware of that

information.

AUDITORS

The auditors, Wilson & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Ms Q Wang - Director

10 October 2017

We have audited the financial statements of Share Credit Tech Limited for the year ended 31 March 2017 on pages five to

eight. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom

Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard

102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies

Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are

required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do

not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit

work, for this report, or for the opinions we have formed.

Respective responsibilities of director and auditors

As explained more fully in the Statement of Director's Responsibilities set out on page two, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors.

Scope of the audit of the financial statements

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give

reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error.

This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances and have

been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the

director; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial

information in the Report of the Director to identify material inconsistencies with the audited financial statements and to

identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge

acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or

inconsistencies we consider the implications for our report.

Opinion on financial statements

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2017 and of its loss for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit, the information given in the Report of the Director

for the financial year for which the financial statements are prepared is consistent with the financial statements, and has been

prepared in accordance with applicable legal requirements. In the light of the knowledge and understanding of the company

and its environment, we have not identified any material misstatements in the Report of the Director.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if,

in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Director.

Wilson & Co

Chartered Certified Accountants

3rd Floor

9 St. Clare Street

London

EC3N 1LQ

11 October 2017

TURNOVER

135,690

39,000

Administrative expenses

172,124

81,649

OPERATING LOSS and

LOSS BEFORE TAXATION

(36,434

)

(42,649

)

Tax on loss

3

-

-

LOSS FOR THE FINANCIAL YEAR

(36,434

)

(42,649

)

CURRENT ASSETS

Debtors

4

22,933

40

Cash at bank and in hand

5,384

1

28,317

41

CREDITORS

Amounts falling due within one year

5

7,400

4,300

NET CURRENT ASSETS/(LIABILITIES)

20,917

(4,259

)

TOTAL ASSETS LESS CURRENT LIABILITIES

20,917

(4,259

)

CREDITORS

Amounts falling due after more than one year

6

-

38,389

NET ASSETS/(LIABILITIES)

20,917

(42,648

)

CAPITAL AND RESERVES

Called up share capital

7

100,000

1

Retained earnings

8

(79,083

)

(42,649

)

SHAREHOLDERS' FUNDS

20,917

(42,648

)

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 10 October 2017 and were signed by:

Ms Q Wang - Director

1.	STATUTORY INFORMATION

Share Credit Tech 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.

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.

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 March 2017 nor for the period ended 31 March 2016.

4.

DEBTORS

31.3.17

31.3.16

£

£

Amounts falling due within one year:

VAT

20

40

31.3.17

31.3.16

£

£

Amounts falling due after more than one year:

Amounts owed by group undertakings

22,913

-

Aggregate amounts

22,933

40

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Accrued expenses

7,400

4,300

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Amounts owed to group undertakings

-

38,389

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

1,000,000,000

Ordinary

0.000

1

100,000

1

8.

RESERVES

Retained

earnings

£

At 1 April 2016

(42,649

)

Deficit for the year

(36,434

)

At 31 March 2017

(79,083

)