Registered number
04197118
SW12 Limited
Filleted Accounts
31 March 2023
SW12 Limited
Registered number: 04197118
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,223 1,236
Investments 4 531,202 560,300
532,425 561,536
Current assets
Debtors 5 649,686 653,774
Cash at bank and in hand 1,520 489
651,206 654,263
Creditors: amounts falling due within one year 6 (578,862) (639,044)
Net current assets 72,344 15,219
Total assets less current liabilities 604,769 576,755
Creditors: amounts falling due after more than one year 7 (30,200) (37,466)
Provisions for liabilities (252) (235)
Net assets 574,317 539,054
Capital and reserves
Called up share capital 2 2
Profit and loss account 574,315 539,052
Shareholders' funds 574,317 539,054
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 C Leigh-Pemberton
Director
Approved by the board on 16 November 2023
SW12 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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 3 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 24,183
Additions 1,313
At 31 March 2023 25,496
Depreciation
At 1 April 2022 22,947
Charge for the year 1,326
At 31 March 2023 24,273
Net book value
At 31 March 2023 1,223
At 31 March 2022 1,236
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 April 2022 463,090 97,210 560,300
Disposals - (29,098) (29,098)
At 31 March 2023 463,090 68,112 531,202
5 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 645,446 651,046
Other debtors 4,240 2,728
649,686 653,774
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 40 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest 567,088 619,088
Corporation tax 7,564 -
Other creditors 4,170 19,956
578,862 639,044
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 30,200 37,466
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 30,200 37,466
Bank loans are secured on the assets of the company.
9 Related party transactions 2023 2022
£ £
Tritrend Limited
Loan
Tritrend Limited is under the control of Mr L. Carr, a director. During the year Tritrend Limited charged SW12 Limited management fees at arms length of £75,000.
Amount due to the related party 4,750 29,500
Chelsea & Belgravia Investments Limited
Loan
Chelsea & Belgravia Investments Limited is under the control of Mr C. Leigh-Pemberton, a director.During the year Chelsea & Belgravia Investments Limited charged SW12 Limited management fees at arms length of £75,000.
Amount due to the related party 4,750 29,500
Agavil Investments Limited
Interest free loan
Agavil Investments is a wholly owned subsidiary of SW12 Limited. During the year SW12 Limited charged Agavil Investments Limited £126,500 in management charges at arms length this amount has been deducted from the existing loan.
Amount due to the related party 471,252 473,752
Haynes Estates Limited
Interest free loan
Haynes Estates is a wholly owned subsidiary of SW12 Limited. During the year SW12 Limited charged Haynes Estates Limited £Nil in management charges at arms length this amount has been deducted from the existing loan.
Amount due to the related party 86,336 86,336
567,088 619,088
SW1A Limited
Interest free loan
The ordinary share capital of SW1A Limited is owned equally by Chelsea and Belgravia Investments Limited and Tritrend Limited. During the year SW12 Limited charged SW1A Limited £Nil in management charges at arms length this amount has been added from the existing loan.
Amount due from the related party (5,489) (5,489)
SW1B Limited
Interest free loan
SW1B Limited is a wholly owned subsidiary of SW12 Limited. During the year SW12 Limited charged SW1B Limited £74,400 in management charges at arms length this amount has been added from the existing loan.
Amount due from the related party (639,957) (645,557)
(645,446) (651,046)
The directors are satisfied that the company is exempt from the requirement to prepare group accounts under section 399 of the Companies Act 2006 as such consolidated accounts have not been prepared.
10 Controlling party
The ultimate controlling party throughout the period was Mr L Carr, a director and Mr C Leigh-Pemberton, a director who equally own 100% of the issued share capital of SW12 Ltd as follows:

Mr L Carr, a director, owns 50% of the issued share capital of SW12 Limited.

Mr C Leigh-Pemberton, a director, owns 50% of the issued share capital of SW12 Limited.
11 Other information
SW12 Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Holmer Terrace
Holmer
Hereford
HR4 9RH
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