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COMPANY REGISTRATION NUMBER: 11075880
SWAGE CONSULTING LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 May 2022
SWAGE CONSULTING LTD
STATEMENT OF FINANCIAL POSITION
31 May 2022
31 May 22
30 Nov 20
Note
£
£
£
£
CURRENT ASSETS
Stocks
1,984
Debtors
6
2,579
2,901
Cash at bank and in hand
15,605
28,173
--------
--------
18,184
33,058
CREDITORS: amounts falling due within one year
7
( 18,009)
( 26,031)
--------
--------
NET CURRENT ASSETS
175
7,027
----
-------
TOTAL ASSETS LESS CURRENT LIABILITIES
175
7,027
----
-------
NET ASSETS
175
7,027
----
-------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
75
6,927
----
-------
SHAREHOLDERS FUNDS
175
7,027
----
-------
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 Section 1A of 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 income and retained earnings has not been delivered.
For the period ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SWAGE CONSULTING LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 May 2022
These financial statements were approved by the board of directors and authorised for issue on 12 August 2022 , and are signed on behalf of the board by:
R J Money
Director
Company registration number: 11075880
SWAGE CONSULTING LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 DECEMBER 2020 TO 31 MAY 2022
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Blenheim Way, Harrogate, North Yorkshire, HG2 9DS, United Kingdom.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied.
Income tax
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.
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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 1 (2020: 1 ).
5. TAX ON PROFIT
Major components of tax expense
Period from
1 Dec 20 to
Year to
31 May 22
30 Nov 20
£
£
Current tax:
UK current tax expense
1,114
3,035
Adjustments in respect of prior periods
( 216)
-------
-------
Total current tax
1,114
2,819
-------
-------
-------
-------
Tax on profit
1,114
2,819
-------
-------
6. DEBTORS
31 May 22
30 Nov 20
£
£
Trade debtors
2,300
2,389
Other debtors
279
512
-------
-------
2,579
2,901
-------
-------
7. CREDITORS: amounts falling due within one year
31 May 22
30 Nov 20
£
£
Trade creditors
2,724
421
Corporation tax
1,114
3,035
Social security and other taxes
131
Other creditors
14,171
22,444
--------
--------
18,009
26,031
--------
--------