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COMPANY REGISTRATION NUMBER: 11770242
SCW Investments Limited
Filleted Unaudited Financial Statements
31 January 2023
SCW Investments Limited
Financial Statements
Year ended 31 January 2023
Contents
Page
Officers and professional advisers
1
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
SCW Investments Limited
Officers and Professional Advisers
Director
S J Fox-Davies
Registered Office
37a Birmingham New Road
Wolverhampton
West Midlands
WV4 6BL
Accountants
Howell Davies Limited
Chartered accountants
Tudor House
37a Birmingham New Road
Wolverhampton
West Midlands
WV4 6BL
SCW Investments Limited
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of SCW Investments Limited
Year ended 31 January 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SCW Investments Limited for the year ended 31 January 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
Howell Davies Limited Chartered accountants
Tudor House 37a Birmingham New Road Wolverhampton West Midlands WV4 6BL
26 October 2023
SCW Investments Limited
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
£
£
Fixed Assets
Tangible assets
4
742,958
585,163
Current Assets
Cash at bank and in hand
49,732
4,554
Creditors: amounts falling due within one year
5
11,636
2,340
--------
-------
Net Current Assets
38,096
2,214
---------
---------
Total Assets Less Current Liabilities
781,054
587,377
Creditors: amounts falling due after more than one year
6
737,649
577,649
Provisions
939
1,108
---------
---------
Net Assets
42,466
8,620
---------
---------
Capital and Reserves
Called up share capital
1
1
Profit and loss account
42,465
8,619
--------
-------
Shareholders Funds
42,466
8,620
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SCW Investments Limited
Statement of Financial Position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 26 October 2023 , and are signed on behalf of the board by:
S J Fox-Davies
Director
Company registration number: 11770242
SCW Investments Limited
Notes to the Financial Statements
Year ended 31 January 2023
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 37a Birmingham New Road, Wolverhampton, West Midlands, WV4 6BL.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income Tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible Assets
Tangible assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% straight line
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Tangible Assets
Freehold property
Fixtures and fittings
Total
£
£
£
Cost
At 1 February 2022
578,103
10,591
588,694
Additions
159,911
159,911
---------
--------
---------
At 31 January 2023
738,014
10,591
748,605
---------
--------
---------
Depreciation
At 1 February 2022
3,531
3,531
Charge for the year
2,116
2,116
---------
--------
---------
At 31 January 2023
5,647
5,647
---------
--------
---------
Carrying amount
At 31 January 2023
738,014
4,944
742,958
---------
--------
---------
At 31 January 2022
578,103
7,060
585,163
---------
--------
---------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
8,396
Other creditors
3,240
2,340
--------
-------
11,636
2,340
--------
-------
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
737,649
577,649
---------
---------