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REGISTERED NUMBER: 06456969 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

SMITH SYSTEM EMEA LIMITED

SMITH SYSTEM EMEA LIMITED (REGISTERED NUMBER: 06456969)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SMITH SYSTEM EMEA LIMITED

Company Information
for the Year Ended 31 December 2021







DIRECTOR: A DOUGLAS





SECRETARY: A DOUGLAS





REGISTERED OFFICE: Devonshire House
Manor Way
Borehamwood
Hertfordshire
WD6 1QQ





REGISTERED NUMBER: 06456969 (England and Wales)





ACCOUNTANTS: Gynch Shaw Maurice & Co
Chartered Certified Accountants
Rear of No 2
SPM House
Glenthorne Road
Friern Barnet
London
N11 3HT

SMITH SYSTEM EMEA LIMITED (REGISTERED NUMBER: 06456969)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 5,708 1,918
5,708 1,918

CURRENT ASSETS
Debtors 6 93,444 122,334
Cash at bank and in hand 470,766 423,318
564,210 545,652
CREDITORS
Amounts falling due within one year 7 34,885 42,378
NET CURRENT ASSETS 529,325 503,274
TOTAL ASSETS LESS CURRENT
LIABILITIES

535,033

505,192

CREDITORS
Amounts falling due after more than one
year

8

360,524

360,524
NET ASSETS 174,509 144,668

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 173,509 143,668
SHAREHOLDERS' FUNDS 174,509 144,668

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.

SMITH SYSTEM EMEA LIMITED (REGISTERED NUMBER: 06456969)

Balance Sheet - continued
31 December 2021


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 6 September 2022 and were signed by:





A DOUGLAS - Director


SMITH SYSTEM EMEA LIMITED (REGISTERED NUMBER: 06456969)

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

1. STATUTORY INFORMATION

SMITH SYSTEM EMEA LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced of income from providing commercial training courses for drivers of vehicle conveying dangerous goods, excluding Value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten 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.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

SMITH SYSTEM EMEA LIMITED (REGISTERED NUMBER: 06456969)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 100,000
AMORTISATION
At 1 January 2021
and 31 December 2021 100,000
NET BOOK VALUE
At 31 December 2021 -
At 31 December 2020 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021 17,909
Additions 5,216
At 31 December 2021 23,125
DEPRECIATION
At 1 January 2021 15,991
Charge for year 1,426
At 31 December 2021 17,417
NET BOOK VALUE
At 31 December 2021 5,708
At 31 December 2020 1,918

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 89,544 118,434
Other debtors 3,900 3,900
93,444 122,334

SMITH SYSTEM EMEA LIMITED (REGISTERED NUMBER: 06456969)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors 4,113 5,151
Taxation and social security 27,972 34,797
Other creditors 2,800 2,430
34,885 42,378

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
£    £   
Other creditors 360,524 360,524

9. CONTINGENT LIABILITIES

There were no contingent liabilities during the financial year ending 31st December 2021.

10. CAPITAL COMMITMENTS

The company pays a monthly rent of £3,100.

11. RELATED PARTY DISCLOSURES

The company owes Smith Holding Corporation, the parent company, a balance of £360,524 (2020: £360,524).

12. POST BALANCE SHEET EVENTS

There were no Post Balance Sheet events under review for this financial year.