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REGISTERED NUMBER: SC287303 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

FOR

SMOOTH IMAGE LIMITED

SMOOTH IMAGE LIMITED (REGISTERED NUMBER: SC287303)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SMOOTH IMAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2021







DIRECTOR: A Gow





REGISTERED OFFICE: Toadhall
Muchalls
Stonehaven
Aberdeenshire
AB39 3RQ





REGISTERED NUMBER: SC287303 (Scotland)





ACCOUNTANTS: Fyfe Moir & Associates
1st Floor, 5 Abercrombie Crt
Prospect Road,
Westhill
Aberdeenshire
Grampian
AB32 6FE

SMOOTH IMAGE LIMITED (REGISTERED NUMBER: SC287303)

BALANCE SHEET
31 JULY 2021

31.7.21 31.7.20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 7,670 11,128
7,670 11,128

CURRENT ASSETS
Debtors 6 79,979 77,871
Cash at bank 47,237 103,796
127,216 181,667
CREDITORS
Amounts falling due within one year 7 40,057 97,370
NET CURRENT ASSETS 87,159 84,297
TOTAL ASSETS LESS CURRENT
LIABILITIES

94,829

95,425

CAPITAL AND RESERVES
Called up share capital 8 5 5
Retained earnings 9 94,824 95,420
SHAREHOLDERS' FUNDS 94,829 95,425

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 29 August 2022 and were signed by:



A Gow - Director


SMOOTH IMAGE LIMITED (REGISTERED NUMBER: SC287303)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021

1. STATUTORY INFORMATION

Smooth Image Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year 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.

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 year end 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 1 (2020 - 1 ) .

SMOOTH IMAGE LIMITED (REGISTERED NUMBER: SC287303)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2021

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2020
and 31 July 2021 50,255
AMORTISATION
At 1 August 2020
and 31 July 2021 50,255
NET BOOK VALUE
At 31 July 2021 -
At 31 July 2020 -

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2020
and 31 July 2021 217,781 8,500 226,281
DEPRECIATION
At 1 August 2020 209,342 5,811 215,153
Charge for year 2,785 673 3,458
At 31 July 2021 212,127 6,484 218,611
NET BOOK VALUE
At 31 July 2021 5,654 2,016 7,670
At 31 July 2020 8,439 2,689 11,128

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.21 31.7.20
£    £   
Trade debtors 2,108 -
Other debtors 77,871 77,871
79,979 77,871

SMOOTH IMAGE LIMITED (REGISTERED NUMBER: SC287303)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.21 31.7.20
£    £   
Trade creditors 1,800 2,149
Tax - 1
Social security and other taxes (326 ) 885
VAT 449 1,369
Other creditors - (1,080 )
Directors' current accounts 38,134 94,046
40,057 97,370

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.7.21 31.7.20
value: £    £   
5 Ordinary £1 5 5

9. RESERVES
Retained
earnings
£   

At 1 August 2020 95,420
Deficit for the year (596 )
At 31 July 2021 94,824