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REGISTERED NUMBER: 04091689 (England and Wales)















SWAGEMASTER ENGINEERING SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






SWAGEMASTER ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 04091689)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


SWAGEMASTER ENGINEERING SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: K Rowley
G A Rowley





SECRETARY: K Rowley





REGISTERED OFFICE: Lint House
Linthouse Lane
Wednesfield
Wolverhampton
WV11 3EA





REGISTERED NUMBER: 04091689 (England and Wales)





ACCOUNTANTS: Inspired Accountants Limited
Chartered Certified Accountants
4 Parkside Court
Greenhough Road
Lichfield
Staffordshire
WS13 7FE

SWAGEMASTER ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 04091689)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 622,405 632,135

CURRENT ASSETS
Stocks 50,000 -
Debtors 5 272,703 214,959
Cash at bank and in hand 27,412 17,761
350,115 232,720
CREDITORS
Amounts falling due within one year 6 480,301 400,609
NET CURRENT LIABILITIES (130,186 ) (167,889 )
TOTAL ASSETS LESS CURRENT LIABILITIES 492,219 464,246

PROVISIONS FOR LIABILITIES 14,984 14,984
NET ASSETS 477,235 449,262

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 477,135 449,162
SHAREHOLDERS' FUNDS 477,235 449,262

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 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.

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 26 July 2024 and were signed on its behalf by:



K Rowley - Director


SWAGEMASTER ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 04091689)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Swagemaster Engineering Services Limited is a private company, limited by shares , registered in England and Wales. 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 - 10% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

SWAGEMASTER ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 04091689)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 545,000 144,241 21,873 46,739 757,853
Additions - - 825 - 825
At 31 October 2023 545,000 144,241 22,698 46,739 758,678
DEPRECIATION
At 1 November 2022 - 71,759 10,105 43,854 125,718
Charge for year - 7,249 2,354 952 10,555
At 31 October 2023 - 79,008 12,459 44,806 136,273
NET BOOK VALUE
At 31 October 2023 545,000 65,233 10,239 1,933 622,405
At 31 October 2022 545,000 72,482 11,768 2,885 632,135

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 73,498 138,680
Other debtors 175,763 60,667
Prepayments and accrued income 23,442 15,612
272,703 214,959

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 92,771 213,863
Credit card 332 237
Amounts owed to group undertakings 128,381 142,770
Tax 15 (25,519 )
Social security and other taxes 20,233 19,120
Wages 4,533 4,533
Pension 328 204
VAT 2,837 1,217
Other creditors 204,073 17,450
Directors' loan accounts 22,798 19,978
Accrued expenses 4,000 6,756
480,301 400,609