Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-01-20falseNo description of principal activity620falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13860194 2022-01-19 13860194 2022-01-20 2023-03-31 13860194 2021-01-20 2022-01-19 13860194 2023-03-31 13860194 c:Director1 2022-01-20 2023-03-31 13860194 c:Director1 2023-03-31 13860194 c:Director2 2022-01-20 2023-03-31 13860194 c:Director2 2023-03-31 13860194 c:Director3 2022-01-20 2023-03-31 13860194 c:Director3 2023-03-31 13860194 c:Director4 2022-01-20 2023-03-31 13860194 c:Director4 2023-03-31 13860194 c:Director5 2022-01-20 2023-03-31 13860194 c:Director5 2023-03-31 13860194 c:RegisteredOffice 2022-01-20 2023-03-31 13860194 d:FurnitureFittings 2022-01-20 2023-03-31 13860194 d:FurnitureFittings 2023-03-31 13860194 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-20 2023-03-31 13860194 d:ComputerEquipment 2022-01-20 2023-03-31 13860194 d:ComputerEquipment 2023-03-31 13860194 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-01-20 2023-03-31 13860194 d:OwnedOrFreeholdAssets 2022-01-20 2023-03-31 13860194 d:Goodwill 2022-01-20 2023-03-31 13860194 d:Goodwill 2023-03-31 13860194 d:CurrentFinancialInstruments 2023-03-31 13860194 d:Non-currentFinancialInstruments 2023-03-31 13860194 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13860194 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 13860194 d:ShareCapital 2023-03-31 13860194 d:RetainedEarningsAccumulatedLosses 2023-03-31 13860194 c:FRS102 2022-01-20 2023-03-31 13860194 c:AuditExempt-NoAccountantsReport 2022-01-20 2023-03-31 13860194 c:FullAccounts 2022-01-20 2023-03-31 13860194 c:PrivateLimitedCompanyLtd 2022-01-20 2023-03-31 13860194 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2022-01-20 2023-03-31 13860194 2 2022-01-20 2023-03-31 13860194 d:Goodwill d:OwnedIntangibleAssets 2022-01-20 2023-03-31 iso4217:GBP xbrli:pure
Company registration number: 13860194







UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 MARCH 2023


SW & H LIMITED






































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SW & H LIMITED
 


 
COMPANY INFORMATION


Directors
Mr D J S Alcock (appointed 20 January 2022)
Mr P Bosher (appointed 20 January 2022)
Mr R D Hemming (appointed 20 January 2022)
Mr I J Llewellyn (appointed 20 January 2022)
Mr D O C Searle (appointed 1 April 2023)




Registered number
13860194



Registered office
Harman House
Andover Road

Winchester

Hampshire

SO32 7BS




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


SW & H LIMITED
REGISTERED NUMBER:13860194



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
Note
£

Fixed assets
  

Intangible assets
 4 
693,000

Tangible assets
 5 
79,952

  
772,952

Current assets
  

Debtors: amounts falling due within one year
 6 
1,817,831

Cash at bank and in hand
  
628,600

  
2,446,431

Creditors: amounts falling due within one year
 7 
(2,361,405)

Net current assets
  
 
 
85,026

Total assets less current liabilities
  
857,978

Creditors: amounts falling due after more than one year
 8 
(31,384)

Provisions for liabilities
  

Other provisions
  
(19,248)

  
 
 
(19,248)

Net assets
  
807,346

Page 1

 


SW & H LIMITED
REGISTERED NUMBER:13860194


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

2023
Note
£

Capital and reserves
  

Called up share capital 
  
770,001

Profit and loss account
  
37,345

  
807,346


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


Mr D J S Alcock
Director

Date: 19 October 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


SW & H LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

SW & H Limited  is a private company, limited by shares, incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The accounts have been prepared from the date of incorporation 20 January 2022 to the year end date 31 March 2023.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 3

 


SW & H LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance and straight line basis .

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
reducing balance
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 


SW & H LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 62.

Page 5

 


SW & H LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

4.


Intangible assets



Goodwill

£



Cost


Additions
770,000



At 31 March 2023

770,000



Amortisation


Charge for the period on owned assets
77,000



At 31 March 2023

77,000



Net book value



At 31 March 2023
693,000




5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


Additions
29,876
82,670
112,546



At 31 March 2023

29,876
82,670
112,546



Depreciation


Charge for the period on owned assets
6,008
26,586
32,594



At 31 March 2023

6,008
26,586
32,594



Net book value



At 31 March 2023
23,868
56,084
79,952

Page 6

 


SW & H LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

6.


Debtors

2023
£


Trade debtors
1,028,581

Amounts owed by group undertakings
11,691

Other debtors
84,507

Called up share capital not paid
1

Prepayments and accrued income
693,051

1,817,831



7.


Creditors: Amounts falling due within one year

2023
£

Bank overdrafts
156,470

Bank loans
7,374

Trade creditors
639,499

Other taxation and social security
898,369

Other creditors
518,868

Accruals and deferred income
140,825

2,361,405


The following liabilities were secured:

2023
£



Bank overdraft
156,470

156,470

Details of security provided:

A fixed and floating charge covering all the property or undertaking of the company is in place including a negative pledge.

Page 7

 


SW & H LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due after more than one year

2023
£

Bank loans
31,384

31,384



9.


Related party transactions

At the year end the company owed £503,758 to directors.

 
Page 8