Registered number
07486200
S W B Commercials Ltd
Abbreviated Accounts
31 January 2023
S W B Commercials Ltd
Registered number: 07486200
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 45,340 24,406
Current assets
Stocks 75,280 70,850
Debtors 4 42,642 30,657
Cash at bank and in hand - 10,034
117,922 111,541
Creditors: amounts falling due within one year 5 (83,175) (57,534)
Net current assets 34,747 54,007
Total assets less current liabilities 80,087 78,413
Creditors: amounts falling due after more than one year 6 (78,482) (89,113)
Provisions for liabilities (4,296) (4,296)
Net liabilities (2,691) (14,996)
Capital and reserves
Called up share capital 1 1
Profit and loss account (2,692) (14,997)
Shareholders' funds (2,691) (14,996)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Steven Bird
Director
Approved by the board on 4 September 2023
S W B Commercials Ltd
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
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
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2022 33,323 36,659 69,982
Additions 32,270 - 32,270
At 31 January 2023 65,593 36,659 102,252
Depreciation
At 1 February 2022 13,564 32,012 45,576
Charge for the year 10,406 930 11,336
At 31 January 2023 23,970 32,942 56,912
Net book value
At 31 January 2023 41,623 3,717 45,340
At 31 January 2022 19,759 4,647 24,406
4 Debtors 2023 2022
£ £
Trade debtors 9,827 30,657
Other debtors 32,815 -
42,642 30,657
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 17,590 -
Trade creditors 18,959 7,618
Corporation tax 7,964 7,964
Other taxes and social security costs 38,662 36,739
Other creditors - 5,213
83,175 57,534
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 78,482 89,113
7 Other information
S W B Commercials Ltd is a private company limited by shares and incorporated in England. Its registered office is:
277 Stockport Road
Ashton U Lyne
Lancashire
OL7 0NT
S W B Commercials Ltd 07486200 false 2022-02-01 2023-01-31 2023-01-31 VT Final Accounts April 2022 Steven Bird No description of principal activity 07486200 2021-02-01 2022-01-31 07486200 core:WithinOneYear 2022-01-31 07486200 core:AfterOneYear 2022-01-31 07486200 core:ShareCapital 2022-01-31 07486200 core:RetainedEarningsAccumulatedLosses 2022-01-31 07486200 2022-02-01 2023-01-31 07486200 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 07486200 bus:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 07486200 bus:Director40 2022-02-01 2023-01-31 07486200 1 2022-02-01 2023-01-31 07486200 2 2022-02-01 2023-01-31 07486200 core:PlantMachinery 2022-02-01 2023-01-31 07486200 core:Vehicles 2022-02-01 2023-01-31 07486200 countries:England 2022-02-01 2023-01-31 07486200 bus:FRS102 2022-02-01 2023-01-31 07486200 bus:FullAccounts 2022-02-01 2023-01-31 07486200 2023-01-31 07486200 core:WithinOneYear 2023-01-31 07486200 core:AfterOneYear 2023-01-31 07486200 core:ShareCapital 2023-01-31 07486200 core:RetainedEarningsAccumulatedLosses 2023-01-31 07486200 core:PlantMachinery 2023-01-31 07486200 core:Vehicles 2023-01-31 07486200 2022-01-31 07486200 core:PlantMachinery 2022-01-31 07486200 core:Vehicles 2022-01-31 iso4217:GBP xbrli:pure