Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-31122022-09-01falseNo description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06990820 2022-09-01 2023-08-31 06990820 2021-09-01 2022-08-31 06990820 2023-08-31 06990820 2022-08-31 06990820 2021-09-01 06990820 c:Director1 2022-09-01 2023-08-31 06990820 d:PlantMachinery 2022-09-01 2023-08-31 06990820 d:PlantMachinery 2023-08-31 06990820 d:PlantMachinery 2022-08-31 06990820 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 06990820 d:CurrentFinancialInstruments 2023-08-31 06990820 d:CurrentFinancialInstruments 2022-08-31 06990820 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 06990820 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 06990820 d:ShareCapital 2023-08-31 06990820 d:ShareCapital 2022-08-31 06990820 d:RetainedEarningsAccumulatedLosses 2023-08-31 06990820 d:RetainedEarningsAccumulatedLosses 2022-08-31 06990820 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 06990820 d:AcceleratedTaxDepreciationDeferredTax 2022-08-31 06990820 c:FRS102 2022-09-01 2023-08-31 06990820 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 06990820 c:FullAccounts 2022-09-01 2023-08-31 06990820 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 06990820










SWJ DESIGN LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
SWJ DESIGN LTD
REGISTERED NUMBER: 06990820

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,282
2,630

  
2,282
2,630

Current assets
  

Stocks
  
54,917
51,154

Debtors: amounts falling due within one year
 5 
13,820
6,878

Cash at bank and in hand
  
27,773
14,882

  
96,510
72,914

Creditors: amounts falling due within one year
 6 
(63,138)
(40,041)

Net current assets
  
 
 
33,372
 
 
32,873

Total assets less current liabilities
  
35,654
35,503

Provisions for liabilities
  

Deferred tax
 7 
(434)
(500)

  
 
 
(434)
 
 
(500)

Net assets
  
35,220
35,003


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
35,219
35,002

  
35,220
35,003


Page 1

 
SWJ DESIGN LTD
REGISTERED NUMBER: 06990820
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S Wright
Director

Date: 19 February 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SWJ DESIGN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

SWJ Design Ltd (registration number 06990820) is a private company, limited by shares and incorporated in England and Wales. The registered office address is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
SWJ DESIGN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash
Page 4

 
SWJ DESIGN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)

equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other 
third parties, loans to related parties and investments in ordinary shares.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
SWJ DESIGN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 2).

Page 6

 
SWJ DESIGN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 September 2022
58,736


Additions
412



At 31 August 2023

59,148



Depreciation


At 1 September 2022
56,106


Charge for the year on owned assets
760



At 31 August 2023

56,866



Net book value



At 31 August 2023
2,282



At 31 August 2022
2,630


5.


Debtors

2023
2022
£
£


Trade debtors
10,069
3,128

Other debtors
3,751
3,750

13,820
6,878


Page 7

 
SWJ DESIGN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
31,536
24,692

Corporation tax
7,212
4,036

Other taxation and social security
3,461
4,905

Other creditors
18,929
4,408

Accruals and deferred income
2,000
2,000

63,138
40,041



7.


Deferred taxation




2023
2022


£

£






At beginning of year
(500)
(877)


Charged to profit or loss
66
377



At end of year
(434)
(500)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(434)
(500)

(434)
(500)


8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £173 (2022 - £173). No contributions were payable to the fund at the balance sheet date (2022 - £nil).

 
Page 8