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 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
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Shareholders' funds |
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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
And signed on their behalf by:
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
Turnover policy
Tangible assets depreciation policy
Computer equipment 33% on cost
Fixtures, fittings & equipment 20% on cost
Other accounting policies
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).
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Cost | |
At 1 January 2013 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 December 2013 |
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Depreciation | |
At 1 January 2013 |
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Charge for the year |
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On disposals |
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At 31 December 2013 |
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Net book values | |
At 31 December 2013 | 639 |
At 31 December 2012 | 1,996 |