Company Registration No. 11849747 (England and Wales)
SW PERFORMANCE LTD
Unaudited accounts
for the year ended 28 February 2023
SW PERFORMANCE LTD
Unaudited accounts
Contents
SW PERFORMANCE LTD
Company Information
for the year ended 28 February 2023
Director
Simon David Waterson
Company Number
11849747 (England and Wales)
Registered Office
C/O COOPER HARLAND, UNIT 1.14, BARKING E
CENTRE, 50 CAMBRIDGE ROAD
BARKING
IG11 8FG
ENGLAND
Accountants
Cooper Harland Limited
Unit 1.21, Barking Enterprise Centre
50 Cambridge Road
Barking
Essex
IG11 8FG
Accountants' report on the preparation of the unaudited statutory statements of SW PERFORMANCE LTD (The Company) for the year ended 28 February 2023
In order to assist you as the sole director to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of the company for the year ended 28 February 2023 which comprises of the profit and loss account, the balance sheet, and explanatory notes from the company's accounting records and from information and explanations which you have provided us with.
As a member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.
This report is made solely to you as the sole director of the company, in accordance with the terms of our letter of engagement dated . Our work has been undertaken solely to prepare for your approval the financial statements of the company, and state those matters that we have agreed to state to you, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and you as the sole director for our work or for this report.
It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and financial performance of the company. You consider that the company is exempt from the statutory audit requirement for the year ended 28 February 2023.
We have not been instructed to carry out any assurance service on the financial statements of the company. 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 financial statements.
Cooper Harland Limited
Financial Accountants
Unit 1.21, Barking Enterprise Centre
50 Cambridge Road
Barking
Essex
IG11 8FG
27 October 2023
SW PERFORMANCE LTD
Statement of financial position
as at 28 February 2023
Tangible assets
67,480
262
Cash at bank and in hand
1,003,854
834,387
Creditors: amounts falling due within one year
(460,702)
(460,902)
Net current assets
562,796
383,545
Total assets less current liabilities
630,276
383,807
Creditors: amounts falling due after more than one year
(69,814)
(286,834)
Called up share capital
100
100
Profit and loss account
560,362
96,873
Shareholders' funds
560,462
96,973
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 October 2023 and were signed on its behalf by
Simon David Waterson
Director
Company Registration No. 11849747
SW PERFORMANCE LTD
Notes to the Accounts
for the year ended 28 February 2023
SW PERFORMANCE LTD is a private company, limited by shares, registered in England and Wales, registration number 11849747. The registered office is C/O COOPER HARLAND, UNIT 1.14, BARKING E, CENTRE, 50 CAMBRIDGE ROAD, BARKING, IG11 8FG, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
SW PERFORMANCE LTD
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2022
-
1,000
1,250
2,250
Additions
89,975
-
-
89,975
At 28 February 2023
89,975
1,000
1,250
92,225
At 1 March 2022
-
750
1,238
1,988
Charge for the year
22,494
250
13
22,757
At 28 February 2023
22,494
1,000
1,251
24,745
At 28 February 2023
67,481
-
(1)
67,480
At 28 February 2022
-
250
12
262
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
151,868
41,369
Loans from directors
(215,871)
134,382
7
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
69,814
286,834
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
The Director, Simon David Waterson, controls the company as a result of controlling directly
100% of the issued share capital.
SW PERFORMANCE LTD
Notes to the Accounts
for the year ended 28 February 2023
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).