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REGISTERED NUMBER: SC586011 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

SWS-DA Limited

SWS-DA Limited (Registered number: SC586011)






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-DA 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: SC586011 (Scotland)





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

SWS-DA Limited (Registered number: SC586011)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,425,000 1,725,000
Investment property 5 1,342,784 1,342,784
2,767,784 3,067,784

CURRENT ASSETS
Debtors 6 968,822 52,973
Cash at bank and in hand - 4,681
968,822 57,654
CREDITORS
Amounts falling due within one year 7 2,508,101 794,021
NET CURRENT LIABILITIES (1,539,279 ) (736,367 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,228,505

2,331,417

CREDITORS
Amounts falling due after more than one
year

8

639,180

1,790,082
NET ASSETS 589,325 541,335

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 589,323 541,333
589,325 541,335

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-DA Limited (Registered number: SC586011)

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-DA Limited (Registered number: SC586011)

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

1. STATUTORY INFORMATION

SWS-DA 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 statements 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.

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

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at costs and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cot, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date, Changes in fair value are recognised in the profit and loss account.

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.


SWS-DA Limited (Registered number: SC586011)

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

2. ACCOUNTING POLICIES - continued
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 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 3,000,000
AMORTISATION
At 1 July 2022 1,275,000
Charge for year 300,000
At 30 June 2023 1,575,000
NET BOOK VALUE
At 30 June 2023 1,425,000
At 30 June 2022 1,725,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 1,342,784
NET BOOK VALUE
At 30 June 2023 1,342,784
At 30 June 2022 1,342,784

The properties have been valued at open market value at the year end by the directors.

6. DEBTORS
30.6.23 30.6.22
£    £   
Amounts falling due within one year:
Other debtors 84,874 52,973

SWS-DA Limited (Registered number: SC586011)

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

6. DEBTORS - continued
30.6.23 30.6.22
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings 883,948 -

Aggregate amounts 968,822 52,973

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 671,232 51,336
Amounts owed to group undertakings 449,935 149,948
Taxation and social security 337,293 281,011
Other creditors 1,049,641 311,726
2,508,101 794,021

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans - 650,216
Amounts owed to group undertakings - 14,065
Other creditors 639,180 1,125,801
639,180 1,790,082

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 444,872

9. RELATED PARTY DISCLOSURES

During the period the company entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

2023 2022
Amounts due to related parties £    £   

Other related parties 269,935 1,289,814

The following amounts were outstanding at the reporting end date:

2023 2022
Amounts due from related parties £    £   

Other related parties 703,948 Nil