Registered number
05138817
SWLR Ltd
Filleted Accounts
31 May 2018
SWLR Ltd
Registered number: 05138817
Balance Sheet
as at 31 May 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 2 8,425 11,233
Current assets
Stocks 500 500
Debtors 3 5,032 4,772
Cash at bank and in hand 27,259 21,625
32,791 26,897
Creditors: amounts falling due within one year 4 (10,066) (16,095)
Net current assets 22,725 10,802
Net assets 31,150 22,035
Capital and reserves
Called up share capital 10 10
Profit and loss account 31,140 22,025
Shareholder's funds 31,150 22,035
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R T A Jones
Director
Approved by the board on 13 November 2018
SWLR Ltd
Notes to the Accounts
for the year ended 31 May 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Tangible fixed assets
Motor vehicles
£
Cost
At 1 June 2017 14,041
At 31 May 2018 14,041
Depreciation
At 1 June 2017 2,808
On disposals 2,808
At 31 May 2018 5,616
Net book value
At 31 May 2018 8,425
At 31 May 2017 11,233
3 Debtors 2018 2017
£ £
Trade debtors 5,032 4,772
4 Creditors: amounts falling due within one year 2018 2017
£ £
Trade creditors 440 430
Taxation and social security costs 4,390 4,381
Other creditors 5,236 11,284
10,066 16,095
5 Other information
SWLR Ltd is a private company limited by shares and incorporated in England. Its registered office is:
45 Oakwood Drive
Gowerton
Swansea
SA4 3DJ
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