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REGISTERED NUMBER: 11102367 (England and Wales)
























Report of the Director and

Unaudited Financial Statements

for the Year Ended 31 December 2021

for

Smartass Publishers Limited

Smartass Publishers Limited (Registered number: 11102367)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Report of the Director 2

Balance Sheet 3

Notes to the Financial Statements 4


Smartass Publishers Limited

Company Information
for the Year Ended 31 December 2021







DIRECTOR: J R R Agerholm





REGISTERED OFFICE: Flat 5
51 Queens Avenue
Muswell Hill
London
N10 3PE





REGISTERED NUMBER: 11102367 (England and Wales)





ACCOUNTANTS: Garside and Co. Limited
Suite 631, Linen Hall
162-168 Regent Street
London
W1B 5TG

Smartass Publishers Limited (Registered number: 11102367)

Report of the Director
for the Year Ended 31 December 2021

The director presents his report with the financial statements of the company for the year ended 31 December 2021.

DIRECTOR
J R R Agerholm held office during the whole of the period from 1 January 2021 to the date of this report.

GOING CONCERN
Having reviewed the company's financial forecasts and expected future cash flows, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, he continues to adopt the going concern basis in preparing the financial statements for the year ended 31 December 2021.

REVIEW OF RESOLUTIONS
The Company incurred a loss for the year.
The Company is dependent on the ongoing support of Mr James Agerholm, as both, a Director and the Person of Significant Control. This ongoing support will continue in the forthcoming.

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:





J R R Agerholm - Director


18 August 2022

Smartass Publishers Limited (Registered number: 11102367)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £   
CURRENT ASSETS
Cash at bank 372 381

CREDITORS
Amounts falling due within one year 4 (8,157 ) (5,911 )
NET CURRENT LIABILITIES (7,785 ) (5,530 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(7,785

)

(5,530

)

CAPITAL AND RESERVES
Called up share capital 5 1 1
Retained earnings 6 (7,786 ) (5,531 )
SHAREHOLDERS' FUNDS (7,785 ) (5,530 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 August 2022 and were signed by:





J R R Agerholm - Director


Smartass Publishers Limited (Registered number: 11102367)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

SMARTASS PUBLISHERS LIMITED is a private company limited by share capital, incorporated in England and Wales, registration number 11102367.

The address of the registered office is Flat 5, 51 Queens Avenue, London, United Kingdom, N10 3PE.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements prepared in accordance with accounting standards issued by the Financial Reporting Council, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Companies Act 2006.

Going Concern
The Financial Statements are prepared on the going concern basis for the year, under the historical cost convention and in accordance with Financial Reporting Standard and comply with the financial reporting standards of the Financial Reporting Council and the Companies Act 2006.

The financial statements are prepared in Sterling which is the functional currency of the company.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
• the amount of revenue can be measured reliably;
• it is probable that the Company will receive the consideration due under the contract;
• the stage of completion of the contract at the end of the reporting period can be measured reliably; and
• the costs incurred and the costs to complete the contract can be measured reliably.

Smartass Publishers Limited (Registered number: 11102367)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method; Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Investments in non-convertible preference shares and in non-puttable ordinary and preference shares are measured:

i. At fair value with changes recognised in profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably;
ii. At cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Taxation
Taxation for the periodyear 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.


Smartass Publishers Limited (Registered number: 11102367)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued
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 period yearend 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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors - 300
Directors' current accounts 7,557 5,311
Accrued expenses 600 300
8,157 5,911

The director's loan account balance is fully repayable on demand and is non-interest bearing.

5. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.21 31.12.20
value: £    £   
1 Ordinary share capital 1 1 1

6. RESERVES
Retained
earnings
£   

At 1 January 2021 (5,531 )
Deficit for the year (2,255 )
At 31 December 2021 (7,786 )