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REGISTERED NUMBER: 12955382 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2022

FOR

SWELL HOLDINGS LTD

SWELL HOLDINGS LTD (REGISTERED NUMBER: 12955382)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SWELL HOLDINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2022







DIRECTOR: J R Dale





REGISTERED OFFICE: First Floor, Jebsen House
53-61 High Street
Ruislip
Middlesex
HA4 7BD





REGISTERED NUMBER: 12955382 (England and Wales)





ACCOUNTANTS: Sproull & Co.
Chartered Accountants
First Floor, Jebsen House
53-61 High Street
Ruislip
Middlesex
HA4 7BD

SWELL HOLDINGS LTD (REGISTERED NUMBER: 12955382)

BALANCE SHEET
31ST OCTOBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 248,846 623,317

CURRENT ASSETS
Debtors 5 5,859 -
Cash at bank 2,000 -
7,859 -
CREDITORS
Amounts falling due within one year 6 354,359 341,874
NET CURRENT LIABILITIES (346,500 ) (341,874 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(97,654

)

281,443

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (97,655 ) 281,442
(97,654 ) 281,443

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SWELL HOLDINGS LTD (REGISTERED NUMBER: 12955382)

BALANCE SHEET - continued
31ST OCTOBER 2022


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 9th October 2023 and were signed by:





J R Dale - Director


SWELL HOLDINGS LTD (REGISTERED NUMBER: 12955382)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2022


1. STATUTORY INFORMATION

Swell Holdings Ltd 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 as modified by the revaluation of certain assets.

The company meets its day to day working capital requirements through the support of its directors. The directors have confirmed that this support will continue to be made available for the foreseeable future.

Intangible assets
Intangible assets are measured at cost on initial recognition and are subsequently measured using the revaluation model. A revaluation increase is recognised in other comprehensive income and accumulated in equity. A revaluation loss is recognised in profit or loss account.

Taxation
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. INTANGIBLE ASSETS
Investments
in
cryptocurrency
£   
COST OR VALUATION
At 1st November 2021 623,317
Revaluations (374,471 )
At 31st October 2022 248,846
NET BOOK VALUE
At 31st October 2022 248,846
At 31st October 2021 623,317

SWELL HOLDINGS LTD (REGISTERED NUMBER: 12955382)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2022


4. INTANGIBLE ASSETS - continued

Cost or valuation at 31st October 2022 is represented by:

Investments
in
cryptocurrency
£   
Valuation in 2022 (374,471 )
Valuation in 2021 283,317
Cost 340,000
248,846

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Intangible assets 5,859 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 1,440 -
Amounts owed to associates 351,427 340,434
Other creditors 1,492 1,440
354,359 341,874