2022-03-012023-02-282023-02-28false11182071SW INSULATION SERVICE 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SW INSULATION SERVICE LIMITED

Registered Number
11182071
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

SW INSULATION SERVICE LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Director

WALES, Steven

Registered Address

8 Segedunum Business Centre
Station Road
Wallsend
NE28 6HQ

Registered Number

11182071 (England and Wales)
SW INSULATION SERVICE LIMITED
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets5576720
576720
Current assets
Debtors644,03927,274
Cash at bank and on hand7328,958
44,11256,232
Creditors amounts falling due within one year7(14,643)(16,118)
Net current assets (liabilities)29,46940,114
Total assets less current liabilities30,04540,834
Creditors amounts falling due after one year8(29,841)(40,206)
Net assets204628
Capital and reserves
Profit and loss account204628
Shareholders' funds204628
The financial statements were approved and authorised for issue by the Director on 16 November 2023, and are signed on its behalf by:
WALES, Steven
Director
Registered Company No. 11182071
SW INSULATION SERVICE LIMITED
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Vehicles20
Revenue recognition policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information

20232022
Average number of employees during the year21
5.Property, plant and equipment

Vehicles

Total

££
Cost or valuation
At 01 March 22900900
At 28 February 23900900
Depreciation and impairment
At 01 March 22180180
Charge for year144144
At 28 February 23324324
Net book value
At 28 February 23576576
At 28 February 22720720
6.Debtors

2023

2022

££
Trade debtors / trade receivables37,9924,294
Other debtors6,04722,980
Total44,03927,274
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.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables1,7002,650
Taxation and social security12,94313,468
Total14,64316,118
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.
8.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts29,84140,206
Total29,84140,206