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Registration number: 12444570

Sword Group Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Sword Group Holdings Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Sword Group Holdings Limited

Company Information

Directors

S Lillis

L P House

P P Lillis

Registered office

Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

Sword Group Holdings Limited

(Registration number: 12444570)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

3

280

180

Current assets

 

Stocks

4

-

218,186

Debtors

5

30

307,298

Cash at bank and in hand

 

3,260

8,198

 

3,290

533,682

Creditors: Amounts falling due within one year

6

(690)

(240)

Net current assets

 

2,600

533,442

Net assets

 

2,880

533,622

Capital and reserves

 

Called up share capital

7

210

210

Retained earnings

2,670

533,412

Shareholders' funds

 

2,880

533,622

For the financial year ending 30 June 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.

 

Sword Group Holdings Limited

(Registration number: 12444570)
Balance Sheet as at 30 June 2023

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 November 2023 and signed on its behalf by:
 

.........................................
S Lillis
Director

.........................................
L P House
Director

.........................................
P P Lillis
Director

 

Sword Group Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Sword Group Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Sword Group Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

3

Investments

2023
£

2022
£

Investments in subsidiaries

280

180

Subsidiaries

£

Cost or valuation

At 1 July 2022

180

Additions

100

At 30 June 2023

280

Provision

Carrying amount

At 30 June 2023

280

At 30 June 2022

180

 

Sword Group Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Armour Analytical Services Limited

Shield House
Caxton Business Park
Warmley
Bristol
BS30 8XJ

England

Ordinary shares

100%

100%

Sword Dynamic Service Provider Limited

Unit 1, Office 1,
Tower Lane Business Park,
Tower Lane
Warmley
Bristol
BS30 8XT

England

Ordinary shares

100%

100%

Sword Dynamic Services Ltd

Admirals Yard
Station Road
Patchway
Bristol
BS34 6LR

England

Ordinary shares

66.67%

66.67%

Sword Dynamic Properties Ltd

Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

England

Ordinary shares

100%

100%

 

Sword Group Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Subsidiary undertakings

Armour Analytical Services Limited

The principal activity of Armour Analytical Services Limited is that of commercial asbestos surveyancing.

Sword Dynamic Service Provider Limited

The principal activity of Sword Dynamic Service Provider Limited is to provide labour services to the construction industry.

Sword Dynamic Services Ltd

The principal activity of Sword Dynamic Services Ltd is that of building contractors in the construction industry.

Sword Dynamic Properties Ltd

The principal activity of Sword Dynamic Properties Ltd is that of purchasing and letting residential property.

4

Stocks

2023
£

2022
£

Work in progress

-

218,186

5

Debtors

Current

2023
£

2022
£

Other debtors

30

307,298

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

210

-

Accruals and deferred income

480

240

690

240

 

Sword Group Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

30

30

30

30

         

8

Related party transactions

Loans to related parties

2023

Subsidiary
£

Key management
£

Total
£

At start of period

307,268

-

307,268

Advanced

609,200

30

609,230

Repaid

(916,468)

-

(916,468)

At end of period

-

30

30

2022

Subsidiary
£

Total
£

Advanced

307,388

307,388

Repaid

(120)

(120)

At end of period

307,268

307,268

Loans from related parties

2023

Subsidiary
£

Total
£

Advanced

389,667

389,667

Repaid

(389,667)

(389,667)

At end of period

-

-

2022

Subsidiary
£

Total
£

At start of period

265,210

265,210

Advanced

274,212

274,212

Repaid

(539,422)

(539,422)

At end of period

-

-