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REGISTERED NUMBER: SC677258 (Scotland)












Financial Statements for the Year Ended 31 October 2023

for

SW REEL-TECH LTD

SW REEL-TECH LTD (REGISTERED NUMBER: SC677258)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SW REEL-TECH LTD

Company Information
for the Year Ended 31 October 2023







DIRECTOR: S Walker





REGISTERED OFFICE: 5 Piccadilly
Montrose
Angus
DD10 8TH





REGISTERED NUMBER: SC677258 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

SW REEL-TECH LTD (REGISTERED NUMBER: SC677258)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,292 21,581

CURRENT ASSETS
Stocks 500 500
Debtors 5 2,600 3,032
Cash at bank and in hand 7,190 6,497
10,290 10,029
CREDITORS
Amounts falling due within one year 6 16,627 16,164
NET CURRENT LIABILITIES (6,337 ) (6,135 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,955

15,446

PROVISIONS FOR LIABILITIES 2,460 2,934
NET ASSETS 10,495 12,512

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 10,494 12,511
10,495 12,512

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SW REEL-TECH LTD (REGISTERED NUMBER: SC677258)

Balance Sheet - continued
31 October 2023


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

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 April 2024 and were signed by:





S Walker - Director


SW REEL-TECH LTD (REGISTERED NUMBER: SC677258)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

SW Reel-Tech Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stock
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SW REEL-TECH LTD (REGISTERED NUMBER: SC677258)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022 8,592 20,300 348 29,240
Additions 3,891 - - 3,891
At 31 October 2023 12,483 20,300 348 33,131
DEPRECIATION
At 1 November 2022 2,218 5,325 116 7,659
Charge for year 2,320 3,744 116 6,180
At 31 October 2023 4,538 9,069 232 13,839
NET BOOK VALUE
At 31 October 2023 7,945 11,231 116 19,292
At 31 October 2022 6,374 14,975 232 21,581

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,600 3,032

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,373 1,673
Taxation and social security 834 269
Other creditors 14,420 14,222
16,627 16,164

7. RELATED PARTY DISCLOSURES

The company was under the control of S Walker, the director, throughout the current year and previous period.

During the year the director advanced the company net amounts totalling £168. As at 31 October 2023 included within other creditors is a balance outstanding to the director of £13,837 (2022 - £13,669). No interest has been paid on this loan.