false false false false false false false false false true false false false false false false false No description of principal activity 2017-04-01 Sage Accounts Production Advanced 2018 - FRS 11,000 6,600 2,200 8,800 2,200 4,400 50,121 7,745 57,866 19,179 7,736 26,915 30,951 30,942 xbrli:pure xbrli:shares iso4217:GBP 08949596 2017-04-01 2018-03-31 08949596 2018-03-31 08949596 2017-03-31 08949596 2016-04-01 2017-03-31 08949596 2017-03-31 08949596 core:NetGoodwill 2017-04-01 2018-03-31 08949596 bus:Director1 2017-04-01 2018-03-31 08949596 bus:Director2 2017-04-01 2018-03-31 08949596 core:NetGoodwill 2017-03-31 08949596 core:NetGoodwill 2018-03-31 08949596 core:WithinOneYear 2018-03-31 08949596 core:WithinOneYear 2017-03-31 08949596 core:ShareCapital 2018-03-31 08949596 core:ShareCapital 2017-03-31 08949596 core:RetainedEarningsAccumulatedLosses 2018-03-31 08949596 core:RetainedEarningsAccumulatedLosses 2017-03-31 08949596 core:NetGoodwill 2017-03-31 08949596 bus:Director1 2017-03-31 08949596 bus:Director1 2018-03-31 08949596 bus:Director1 2016-03-31 08949596 bus:Director1 2017-03-31 08949596 bus:Director1 2016-04-01 2017-03-31 08949596 bus:SmallEntities 2017-04-01 2018-03-31 08949596 bus:AuditExemptWithAccountantsReport 2017-04-01 2018-03-31 08949596 bus:FullAccounts 2017-04-01 2018-03-31 08949596 bus:SmallCompaniesRegimeForAccounts 2017-04-01 2018-03-31 08949596 bus:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 08949596 core:FurnitureFittingsToolsEquipment 2017-04-01 2018-03-31 08949596 core:FurnitureFittingsToolsEquipment 2017-03-31 08949596 core:FurnitureFittingsToolsEquipment 2018-03-31
COMPANY REGISTRATION NUMBER: 08949596
SMS ANALYTICAL LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2018
SMS ANALYTICAL LTD
STATEMENT OF FINANCIAL POSITION
31 March 2018
2018
2017
Note
£
£
FIXED ASSETS
Intangible assets
5
2,200
4,400
Tangible assets
6
30,951
30,942
--------
--------
33,151
35,342
CURRENT ASSETS
Stocks
400
400
Debtors
7
13,111
2,400
Cash at bank and in hand
41,966
44,353
--------
--------
55,477
47,153
CREDITORS: Amounts falling due within one year
8
54,110
57,386
--------
--------
NET CURRENT ASSETS/(LIABILITIES)
1,367
( 10,233)
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
34,518
25,109
--------
--------
NET ASSETS
34,518
25,109
--------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
34,418
25,009
--------
--------
SHAREHOLDERS FUNDS
34,518
25,109
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SMS ANALYTICAL LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2018
These financial statements were approved by the board of directors and authorised for issue on 6 December 2018 , and are signed on behalf of the board by:
Dr S Marshman
Mr M Simmons
Director
Director
Company registration number: 08949596
SMS ANALYTICAL LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2018
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 High Street, Branston, Lincoln, LN4 1NB.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 April 2017 and 31 March 2018
11,000
--------
Amortisation
At 1 April 2017
6,600
Charge for the year
2,200
--------
At 31 March 2018
8,800
--------
Carrying amount
At 31 March 2018
2,200
--------
At 31 March 2017
4,400
--------
6. TANGIBLE ASSETS
Equipment
Total
£
£
Cost
At 1 April 2017
50,121
50,121
Additions
7,745
7,745
--------
--------
At 31 March 2018
57,866
57,866
--------
--------
Depreciation
At 1 April 2017
19,179
19,179
Charge for the year
7,736
7,736
--------
--------
At 31 March 2018
26,915
26,915
--------
--------
Carrying amount
At 31 March 2018
30,951
30,951
--------
--------
At 31 March 2017
30,942
30,942
--------
--------
7. DEBTORS
2018
2017
£
£
Trade debtors
13,111
2,400
--------
-------
8. CREDITORS: Amounts falling due within one year
2018
2017
£
£
Corporation tax
4,849
7,349
Social security and other taxes
3,203
2,895
Other creditors
46,058
47,142
--------
--------
54,110
57,386
--------
--------
9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors entered into the following advances and credits with the company:
2018
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Dr S Marshman
( 46,012)
1,084
( 44,928)
--------
-------
--------
2017
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Dr S Marshman
( 64,272)
18,260
( 46,012)
--------
--------
--------