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Registered Number: 10076927


 

 

 

IAN SWALES LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 205    293 
205    293 
Current assets      
Debtors 4 5,514    16,230 
Cash at bank and in hand 16,674    4,631 
22,188    20,861 
Creditors: amount falling due within one year 5 (15,369)   (12,764)
Net current assets 6,819    8,097 
 
Total assets less current liabilities 7,024    8,390 
Creditors: amount falling due after more than one year 6 (8,829)   (8,386)
Net liabilities (1,805)   4 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account (1,806)   3 
Shareholder's funds (1,805)   4 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 22 December 2023 and were signed by:


-------------------------------
Ian Swales
Director
1
General Information
Ian Swales Limited is a private company, limited by shares, registered in , registration number 10076927, registration address 80 Weldon Crescent, Newcastle Upon Tyne, Tyne and Wear, NE7 7JB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 30 Reducing Balance
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 April 2022 322    322 
Additions  
Disposals  
At 31 March 2023 322    322 
Depreciation
At 01 April 2022 29    29 
Charge for year 88    88 
On disposals  
At 31 March 2023 117    117 
Net book values
Closing balance as at 31 March 2023 205    205 
Opening balance as at 01 April 2022 293    293 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 250    250 
Other Debtors 105    105 
Directors' Current Accounts   15,875 
355    16,230 

4.

Debtors: amounts falling due after one year

2023
£
  2022
£
Other Debtors 5,159   
5,159   

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Bank Loans & Overdrafts   2,307 
Corporation Tax 15,364    9,365 
Accrued Expenses   1,093 
Other Creditors (1)   (1)
Directors' Current Accounts  
15,369    12,764 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 8,829    8,386 
8,829    8,386 

2