Registered number
11041635
Swim Plus Limited
Filleted Accounts
31 March 2023
Swim Plus Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Swim Plus Limited for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Swim Plus Limited for the year ended 31 March 2023 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity 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, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Swim Plus Limited, as a body, in accordance with the terms of our engagement letter dated 26 October 2023. Our work has been undertaken solely to prepare for your approval the accounts of Swim Plus Limited and state those matters that we have agreed to state to the Board of Directors of Swim Plus Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Swim Plus Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Swim Plus Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Swim Plus Limited. You consider that Swim Plus Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Swim Plus Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Hicks and Company
Chartered Accountants
First Floor
99 Bancroft
Hitchin
Hertfordshire
SG5 1NQ
26 October 2023
Swim Plus Limited
Registered number: 11041635
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,485 2,087
Current assets
Cash at bank and in hand 96,064 82,030
Creditors: amounts falling due within one year 4 (37,740) (32,911)
Net current assets 58,324 49,119
Total assets less current liabilities 60,809 51,206
Provisions for liabilities (472) (397)
Net assets 60,337 50,809
Capital and reserves
Called up share capital 1 1
Profit and loss account 60,336 50,808
Shareholder's funds 60,337 50,809
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M. Dunn
Director
Approved by the board on 26 October 2023
Swim Plus Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtures, fittings and computer equipment
£
Cost
At 1 April 2022 2,372
Additions 1,161
At 31 March 2023 3,533
Depreciation
At 1 April 2022 285
Charge for the year 763
At 31 March 2023 1,048
Net book value
At 31 March 2023 2,485
At 31 March 2022 2,087
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 5,209 11,209
Other creditors 32,531 21,702
37,740 32,911
5 Other information
Swim Plus Limited is a private company limited by shares and incorporated in England. Its registered office is:
Lean to Barn Lower Hatfield Road
Waterhall Farm
Hertford
Herts
SG13 8LE
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