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REGISTERED NUMBER: SC586031 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

SWS-1 Limited

SWS-1 Limited (Registered number: SC586031)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SWS-1 Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: S Sadiq
W Sadiq





REGISTERED OFFICE: 18 Blythswood Square
GLASGOW
G2 4BG





REGISTERED NUMBER: SC586031 (Scotland)





ACCOUNTANTS: WR Accountants
Bank Chambers
31 The Square
Cumnock
Ayrshire
KA18 1AT

SWS-1 Limited (Registered number: SC586031)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £   
CURRENT ASSETS
Debtors 4 2,233,806 1,571,363
Cash in hand 2 -
2,233,808 1,571,363
CREDITORS
Amounts falling due within one year 5 1,361,488 603,727
NET CURRENT ASSETS 872,320 967,636
TOTAL ASSETS LESS CURRENT
LIABILITIES

872,320

967,636

CREDITORS
Amounts falling due after more than one
year

6

703,948

883,015
NET ASSETS 168,372 84,621

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 168,370 84,619
168,372 84,621

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SWS-1 Limited (Registered number: SC586031)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:




S Sadiq - Director



W Sadiq - Director


SWS-1 Limited (Registered number: SC586031)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

SWS-1 Limited 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.

The financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statments are rounded to the nearest £.

Going Concern

The directors are satisfied that current events do not affect the company's ability to continue as a going concern and this basis is appropriate for the preparation of the accounts. In common with most businesses the company is facing ongoing issues with respect to the covid-19 pandemic. This is an ongoing situation and the company is adopting strategies to manage the everchanging situation as effectively as possible.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS
30.6.23 30.6.22
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 11,600 -
Other debtors 2,222,206 1,557,298
2,233,806 1,557,298

SWS-1 Limited (Registered number: SC586031)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. DEBTORS - continued
30.6.23 30.6.22
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings - 14,065

Aggregate amounts 2,233,806 1,571,363

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 1,338,048 579,789
Trade creditors 1 -
Amounts owed to group undertakings - 1,400
Taxation and social security 17,089 16,562
Other creditors 6,350 5,976
1,361,488 603,727

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans - 883,015
Amounts owed to group undertakings 703,948 -
703,948 883,015

7. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank overdrafts 376,866 336,039
Bank loans 961,182 1,126,765
1,338,048 1,462,804

HSBC Bank PLC hold a standard security and floating charge over all the assets of the company.

SWS-1 Limited (Registered number: SC586031)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. RELATED PARTY DISCLOSURES

The following amounts were outstanding at the reporting end date:

2023 2022
Amounts due to related parties £    £   

Other related parties 703,948 1400


The following amounts were outstanding at the reporting end date:

2023 2022
Amounts due from related parties £    £   

Other related parties 2,233,806 1,224,794