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Registered Number: 09130859
England and Wales

 

 

 

SVEZE LIMITED


Unaudited Financial Statements and pages for filing with registrar
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
Director Mrs Diviya Pangaria
Registered Number 09130859
Registered Office 39 Oakley Close
Isleworth
TW7 4HY
Accountants Avys Kapital Limited
No 1, The Retreat
Harrow
HA2 7JH
1
 
 
Notes
 
2023
£
  2022
£
Current assets      
Stocks 4 3,574    3,083 
Debtors 5 874    608 
Cash at bank and in hand 8,558    8,046 
13,006    11,737 
Creditors: amount falling due within one year 6 (51,273)   (48,649)
Net current liabilities (38,267)   (36,912)
 
Total assets less current liabilities (38,267)   (36,912)
Net liabilities (38,267)   (36,912)
 

Capital and reserves
     
Called up share capital 7 1    1 
Profit and loss account (38,268)   (36,913)
Shareholder's funds (38,267)   (36,912)
 


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 25 December 2023 and were signed by:


-------------------------------
Mrs Diviya Pangaria
Director
2
General Information
Sveze Limited is a private company, limited by shares, registered in England and Wales, registration number 09130859, registration address 39 Oakley Close, Isleworth, TW7 4HY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
These financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Financial Instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Going concern basis
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
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:
Fixtures and Fittings : 2 years straight line basis
Computer equipment : 2 years straight line basis 
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. 
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 April 2022 89    479    568 
Additions    
Disposals    
At 31 March 2023 89    479    568 
Depreciation
At 01 April 2022 89    479    568 
Charge for year    
On disposals    
At 31 March 2023 89    479    568 
Net book values
Closing balance as at 31 March 2023    
Opening balance as at 01 April 2022    


4.

Stocks

2023
£
  2022
£
Stocks 3,574    3,083 
3,574    3,083 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments & Accrued Income 390    470 
Etsy Account  
IZettle account 139    40 
Paypal Account 302    49 
VAT 43    49 
874    608 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Accrued Expenses 503    590 
Other Creditors (1)  
Directors' Current Accounts 50,771    48,059 
51,273    48,649 

7.

Share Capital

Authorised
1 ordinary share of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
1 ordinary share of £1.00 each  
 

3