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S&WWH Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 April 2023

Registration number: 04699681

 

S&WWH Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

S&WWH Limited

Balance Sheet

30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

6,389

5,035

Current assets

 

Debtors

14,763

19,763

Cash at bank and in hand

 

2,353

11,930

 

17,116

31,693

Creditors: Amounts falling due within one year

6

(21,506)

(28,984)

Net current (liabilities)/assets

 

(4,390)

2,709

Net assets

 

1,999

7,744

Capital and reserves

 

Profit and loss account

1,999

7,744

Total equity

 

1,999

7,744

 

S&WWH Limited

Balance Sheet

30 April 2023

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 September 2023 and signed on its behalf by:
 

.........................................
C Smart
Director

Company Registration Number: 04699681

 

S&WWH Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2023

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Mansion House
Princes Street
Yeovil
Somerset
BA20 1EP

These financial statements were authorised for issue by the Board on 25 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have prepared the financial statements on a going concern basis, on the understanding that the company will continue to receive financial support from its members if it is required and, accordingly, the financial statements do not include any adjustments that would result if this support were not forthcoming.

Management has considered the consequences of Covid-19 and it has determined that this does not create a material uncertainty that casts significant doubt upon the entity's ability to continue as a going concern.

Revenue recognition

Turnover represents the total invoice value of subscriptions and sales made during the year, net of Value Added Tax and trade discounts.
Subscription income is recognised over the period to which it relates. Sales are recognised when the goods are physically purchased by the customer.

 

S&WWH Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2023

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Property Improvements

15% per annum reducing balance

Plant and Machinery

25% per annum reducing balance

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

 

S&WWH Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2023

4

Taxation

Tax charged/(credited) in the profit and loss account

2023
 £

2022
 £

Current taxation

UK corporation tax

201

123

5

Tangible assets

Property Improvements
£

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 May 2022

7,191

30,097

37,288

Additions

-

3,328

3,328

At 30 April 2023

7,191

33,425

40,616

Depreciation

At 1 May 2022

6,023

26,230

32,253

Charge for the year

175

1,799

1,974

At 30 April 2023

6,198

28,029

34,227

Carrying amount

At 30 April 2023

993

5,396

6,389

At 30 April 2022

1,168

3,867

5,035

 

S&WWH Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

19,935

25,000

Corporation tax

 

201

124

Other creditors

 

330

2,915

Accruals and deferred income

 

1,040

945

 

21,506

28,984

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

19,935

25,000