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REGISTERED NUMBER: 04578956 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

CHRIS SWABEY LIMITED

CHRIS SWABEY LIMITED (REGISTERED NUMBER: 04578956)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHRIS SWABEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: C R J Swabey
S J Swabey





SECRETARY: Mrs B J Swabey





REGISTERED OFFICE: 44 Sarahs Lane
Padstow
Cornwall
PL28 8EW





REGISTERED NUMBER: 04578956 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

CHRIS SWABEY LIMITED (REGISTERED NUMBER: 04578956)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 11,372 15,135
11,372 15,135

CURRENT ASSETS
Stocks 4,157 10,247
Debtors 6 9,444 -
Cash at bank 34,972 35,590
48,573 45,837
CREDITORS
Amounts falling due within one year 7 48,327 48,615
NET CURRENT ASSETS/(LIABILITIES) 246 (2,778 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,618

12,357

CREDITORS
Amounts falling due after more than one
year

8

(4,565

)

(7,305

)

PROVISIONS FOR LIABILITIES (2,161 ) (2,439 )
NET ASSETS 4,892 2,613

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,792 2,513
SHAREHOLDERS' FUNDS 4,892 2,613

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CHRIS SWABEY LIMITED (REGISTERED NUMBER: 04578956)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 Board of Directors and authorised for issue on 20 July 2023 and were signed on its behalf by:




C R J Swabey - Director



S J Swabey - Director


CHRIS SWABEY LIMITED (REGISTERED NUMBER: 04578956)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Chris Swabey 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.

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 sales of goods and services , excluding value added tax.

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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

CHRIS SWABEY LIMITED (REGISTERED NUMBER: 04578956)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

Goodwill
Goodwill , being the amount paid in connection with the acquisition of a business in 2003, has been fully amortised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 5,000
AMORTISATION
At 1 March 2022
and 28 February 2023 5,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2022
and 28 February 2023 2,385 67,010 1,879 71,274
DEPRECIATION
At 1 March 2022 2,182 52,101 1,856 56,139
Charge for year 31 3,727 5 3,763
At 28 February 2023 2,213 55,828 1,861 59,902
NET BOOK VALUE
At 28 February 2023 172 11,182 18 11,372
At 28 February 2022 203 14,909 23 15,135

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 9,444 -

CHRIS SWABEY LIMITED (REGISTERED NUMBER: 04578956)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 5,076 8,614
Tax 9,909 9,815
Social security and other taxes 3,323 2,876
Other creditors 912 38
Directors' current accounts 27,736 25,981
Accrued expenses 1,371 1,291
48,327 48,615

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Hire purchase contracts 4,565 7,305

9. RELATED PARTY DISCLOSURES

The company is controlled by its directors, by virtue of the fact that they own 100% of the company's ordinary issued share capital.