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REGISTERED NUMBER: 03848768 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

SW Blinds and Interiors Ltd

SW Blinds and Interiors Ltd (Registered number: 03848768)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 9


SW Blinds and Interiors Ltd

COMPANY INFORMATION
for the year ended 30 April 2023







Directors: Miss D Webster
A Sheppard
J E Thatcher





Secretary: Miss D Webster





Registered office: Unit 26 Plympton Park, Bell Close
Plymouth
Devon
PL7 4FD





Registered number: 03848768 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

SW Blinds and Interiors Ltd (Registered number: 03848768)

BALANCE SHEET
30 April 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - 3,334
Tangible assets 5 109,017 105,640
109,017 108,974

Current assets
Stocks 32,594 15,714
Debtors 6 235,459 262,177
Cash at bank and in hand 100,793 104,354
368,846 382,245
Creditors
Amounts falling due within one year 7 230,109 268,375
Net current assets 138,737 113,870
Total assets less current liabilities 247,754 222,844

Creditors
Amounts falling due after more than
one year

8

(44,129

)

(55,047

)

Provisions for liabilities 11 (12,000 ) (8,300 )
Net assets 191,625 159,497

Capital and reserves
Called up share capital 12 100 100
Retained earnings 191,525 159,397
Shareholders' funds 191,625 159,497

SW Blinds and Interiors Ltd (Registered number: 03848768)

BALANCE SHEET - continued
30 April 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 7 November 2023 and were signed on its behalf by:





A Sheppard - Director


SW Blinds and Interiors Ltd (Registered number: 03848768)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2023

1. STATUTORY INFORMATION

SW Blinds & Interiors Ltd is a private company, limited by shares, registered in England and Wales. The company's registration 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.

Turnover
Turnover is measured at the fair value of the consideration receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised upon completion of the work done for ther customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is calculated to write down the cost of tangible fixed assets to their expected residual value over their expected useful economic lives using the following rates:

Freehold landNil
Freehold buildings2% of cost
Equipment & vans15% - 50% of net book value
Motor cars25% over primary lease period

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in, first out basis. Net realisable value represents estimated selling price less costs required to sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.


SW Blinds and Interiors Ltd (Registered number: 03848768)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

SW Blinds and Interiors Ltd (Registered number: 03848768)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2023

2. ACCOUNTING POLICIES - continued

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 May 2022
and 30 April 2023 10,000
Amortisation
At 1 May 2022 6,666
Charge for year 3,334
At 30 April 2023 10,000
Net book value
At 30 April 2023 -
At 30 April 2022 3,334

SW Blinds and Interiors Ltd (Registered number: 03848768)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2023

5. TANGIBLE FIXED ASSETS
Equipment
& vans Cars Totals
£    £    £   
Cost
At 1 May 2022 110,954 57,813 168,767
Additions 18,373 54,697 73,070
Disposals (3,514 ) (57,813 ) (61,327 )
At 30 April 2023 125,813 54,697 180,510
Depreciation
At 1 May 2022 60,764 2,363 63,127
Charge for year 13,169 556 13,725
Eliminated on disposal (2,996 ) (2,363 ) (5,359 )
At 30 April 2023 70,937 556 71,493
Net book value
At 30 April 2023 54,876 54,141 109,017
At 30 April 2022 50,190 55,450 105,640

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 79,346 53,228
Amounts owed by group undertakings 150,000 200,000
Other debtors 6,113 8,949
235,459 262,177

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,160 10,160
Finance leases (see note 9) 6,833 7,813
Trade creditors 97,667 98,481
Taxation and social security 102,836 107,640
Other creditors 12,613 44,281
230,109 268,375

SW Blinds and Interiors Ltd (Registered number: 03848768)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 20,674 30,666
Finance leases (see note 9) 23,455 24,381
44,129 55,047

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2023 2022
£    £   
Net obligations repayable:
Within one year 6,833 7,813
Between one and five years 23,455 24,381
30,288 32,194

Non-cancellable operating leases
2023 2022
£    £   
Within one year 26,000 26,000
Between one and five years 87,232 104,000
In more than five years - 9,232
113,232 139,232

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 30,834 40,826
Finance leases 30,288 32,194
61,122 73,020

SW Blinds and Interiors Ltd (Registered number: 03848768)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2023

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 12,000 8,300

Deferred
tax
£   
Balance at 1 May 2022 8,300
Provided during year 3,700
Balance at 30 April 2023 12,000

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100

13. RELATED PARTY DISCLOSURES

During the year the company paid £28,600 for rent and service charges to the holding company.

14. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by the directors' who own 60% of the holding company SW Properties SW Limited.