Abbreviated Company Accounts - SMARTVISUAL LTD

Abbreviated Company Accounts - SMARTVISUAL LTD


Registered Number 04075614

SMARTVISUAL LTD

Abbreviated Accounts

31 December 2013

SMARTVISUAL LTD Registered Number 04075614

Abbreviated Balance Sheet as at 31 December 2013

Notes 2013 2012
£ £
Fixed assets
Tangible assets 2 639 1,996
639 1,996
Current assets
Stocks 5,760 7,140
Debtors 96,017 90,635
Cash at bank and in hand 19,785 48,174
121,562 145,949
Creditors: amounts falling due within one year (21,870) (14,016)
Net current assets (liabilities) 99,692 131,933
Total assets less current liabilities 100,331 133,929
Total net assets (liabilities) 100,331 133,929
Capital and reserves
Called up share capital 3 100 100
Profit and loss account 100,231 133,829
Shareholders' funds 100,331 133,929
  • For the year ending 31 December 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 12 September 2014

And signed on their behalf by:
Mr I Oliver, Director

SMARTVISUAL LTD Registered Number 04075614

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

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is recognised when the goods or services are delivered to the customer.

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:
Computer equipment 33% on cost
Fixtures, fittings & equipment 20% on cost

Other accounting policies
Leasing -
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Stock -
Stock is valued at the lower of cost and net realisable value. Stock is recognised on an average cost basis.

Related party relationships and transactions

Loans to directors -
Transactions in relation to loans with directors during the year are outlined in the table below:
I & D Oliver
Rate - 0%
Opening balance - £(1,335)
Amounts advanced - £6,935
Interest charged - £0
Amounts repaid - £5,610
Closing balance - £(10)

Other transactions
During the year Smartvisual Limited loaned amounts totalling £Nil (2012 - £Nil) to Dadian Property Developments Limited, to which I. Oliver is a director and shareholder and owns 50% of the ordinary issued share capital. At the end of the year £71,177 (2012 - £70,469) was owed from Dadian Property Developments Limited and is included in other debtors. Interest is charged monthly on the outstanding loan and interest payments received amounted to £708 (2012 - £702).

2Tangible fixed assets
£
Cost
At 1 January 2013 26,870
Additions -
Disposals -
Revaluations -
Transfers -
At 31 December 2013 26,870
Depreciation
At 1 January 2013 24,874
Charge for the year 1,357
On disposals -
At 31 December 2013 26,231
Net book values
At 31 December 2013 639
At 31 December 2012 1,996
3Called Up Share Capital
Allotted, called up and fully paid:
2013
£
2012
£
100 Ordinary shares of £1 each 100 100

Control -
The company is controlled by Mr I. Oliver and Mrs D. Oliver, who together own 100% of the ordinary issued share capital.