Abbreviated Company Accounts - SMARTVISUAL LTD

Abbreviated Company Accounts - SMARTVISUAL LTD


Registered Number 04075614

SMARTVISUAL LTD

Abbreviated Accounts

31 December 2015

SMARTVISUAL LTD Registered Number 04075614

Abbreviated Balance Sheet as at 31 December 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 448 429
448 429
Current assets
Stocks 5,835 8,793
Debtors 105,897 150,649
Cash at bank and in hand 43,036 13,550
154,768 172,992
Creditors: amounts falling due within one year (43,343) (76,059)
Net current assets (liabilities) 111,425 96,933
Total assets less current liabilities 111,873 97,362
Total net assets (liabilities) 111,873 97,362
Capital and reserves
Called up share capital 3 100 100
Profit and loss account 111,773 97,262
Shareholders' funds 111,873 97,362
  • For the year ending 31 December 2015 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 30 September 2016

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 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

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
Other transactions
I. Oliver, a director and shareholder of Smartvisual Limited, is also a director and shareholder of Dadian Property Developments Limited, where he holds 50% of the ordinary issued share capital.

During the year Smartvisual Limited loaned £6,000 (2014 - £20,000) to Dadian Property Developments Limited and was repaid £nil (2014 - £20,000).

At the end of the year £77,238 (2014 - £71,238) was owed from Dadian Property Developments Limited and is included in other debtors.

2Tangible fixed assets
£
Cost
At 1 January 2015 26,790
Additions 343
Disposals -
Revaluations -
Transfers -
At 31 December 2015 27,133
Depreciation
At 1 January 2015 26,361
Charge for the year 324
On disposals -
At 31 December 2015 26,685
Net book values
At 31 December 2015 448
At 31 December 2014 429
3Called Up Share Capital
Allotted, called up and fully paid:
2015
£
2014
£
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.