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Registration number: 12214626

SouthWest Rooms Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2023

 

SouthWest Rooms Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

SouthWest Rooms Ltd

Company Information

Directors

Agnieszka Dorota Bebel

Mr Emil Aleksander Czajka

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

SouthWest Rooms Ltd

(Registration number: 12214626)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

13,406

7,499

Current assets

 

Debtors

6

24,904

72,262

Cash at bank and in hand

 

1,396

29,009

 

26,300

101,271

Creditors: Amounts falling due within one year

7

(11,315)

(16,763)

Net current assets

 

14,985

84,508

Total assets less current liabilities

 

28,391

92,007

Creditors: Amounts falling due after more than one year

7

(40,833)

(50,000)

Net (liabilities)/assets

 

(12,442)

42,007

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(12,542)

41,907

Shareholders' (deficit)/funds

 

(12,442)

42,007

For the financial year ending 31 January 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 13 October 2023 and signed on its behalf by:
 

 

SouthWest Rooms Ltd

(Registration number: 12214626)
Balance Sheet as at 31 January 2023 (continued)

.........................................
Agnieszka Dorota Bebel
Director

.........................................
Mr Emil Aleksander Czajka
Director

 

SouthWest Rooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Market Hill
Calne
Wiltshire
SN11 0BT

These financial statements were authorised for issue by the Board on 13 October 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current 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 income 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:

 

SouthWest Rooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023 (continued)

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Computer Equipment

25% Straight Line

Furniture

25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 0).

 

SouthWest Rooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023 (continued)

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

5,673

2,778

 

SouthWest Rooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2022

11,112

11,112

Additions

11,580

11,580

At 31 January 2023

22,692

22,692

Depreciation

At 1 February 2022

3,613

3,613

Charge for the year

5,673

5,673

At 31 January 2023

9,286

9,286

Carrying amount

At 31 January 2023

13,406

13,406

At 31 January 2022

7,499

7,499

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

11,702

1,549

Amounts owed by related parties

827

-

Prepayments

 

2,445

1,776

Other debtors

 

9,930

68,937

   

24,904

72,262

7

Creditors

Creditors: amounts falling due within one year

 

SouthWest Rooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023 (continued)

7

Creditors (continued)

2023
£

2022
£

Due within one year

Trade creditors

7,383

7,598

Taxation and social security

727

8,499

Accruals and deferred income

13

830

Other creditors

3,192

(164)

11,315

16,763

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

40,833

50,000

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

40,833

50,000