Company registration number 09220116 (England and Wales)
SWPT HOLDINGS LIMITED
FORMERLY KNOWN AS DPI (UK) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
SWPT HOLDINGS LIMITED
FORMERLY KNOWN AS DPI (UK) LTD
COMPANY INFORMATION
Directors
P Tomlinson
S Wiggins
Company number
09220116
Registered office
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
Accountants
Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
SWPT HOLDINGS LIMITED
FORMERLY KNOWN AS DPI (UK) LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
SWPT HOLDINGS LIMITED
FORMERLY KNOWN AS DPI (UK) LTD
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF SWPT HOLDINGS LIMITED
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SWPT Holdings Limited for the year ended 30 November 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the board of directors of SWPT Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of SWPT Holdings Limited and state those matters that we have agreed to state to the board of directors of SWPT Holdings Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SWPT Holdings Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that SWPT Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SWPT Holdings Limited. You consider that SWPT Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SWPT Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
19 August 2024
SWPT HOLDINGS LIMITED
FORMERLY KNOWN AS DPI (UK) LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
6,340
Tangible assets
4
-
0
29,561
-
0
35,901
Current assets
Stocks
-
81,575
Debtors
5
48,009
98,801
Cash at bank and in hand
207
38,868
48,216
219,244
Creditors: amounts falling due within one year
6
(48,114)
(200,381)
Net current assets
102
18,863
Total assets less current liabilities
102
54,764
Creditors: amounts falling due after more than one year
7
-
0
(129,867)
Provisions for liabilities
-
0
(4,487)
Net assets/(liabilities)
102
(79,590)
Capital and reserves
Called up share capital
8
40
40
Profit and loss reserves
62
(79,630)
Total equity
102
(79,590)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

SWPT HOLDINGS LIMITED
FORMERLY KNOWN AS DPI (UK) LTD
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 19 August 2024 and are signed on its behalf by:
S Wiggins
Director
Company registration number 09220116 (England and Wales)
SWPT HOLDINGS LIMITED
FORMERLY KNOWN AS DPI (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
1
Accounting policies
Company information

SWPT Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Prospect Place, Millennium Way, Pride Park, Derby, DE24 8HG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

1.2
Going concern

The decision has been made to cease trading and therefore the financial statements have been prepared on a break up basis.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Intangible fixed assets - 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 cost 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 ten years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

SWPT HOLDINGS LIMITED
FORMERLY KNOWN AS DPI (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 5 -

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website
5 Year straight line
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
5 Year straight line
Fixtures and fittings
5 Year straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

SWPT HOLDINGS LIMITED
FORMERLY KNOWN AS DPI (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 6 -
1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
9
10
3
Intangible fixed assets
Goodwill
Website
Total
£
£
£
Cost
At 1 December 2022
4,802
9,100
13,902
Disposals
(4,802)
(9,100)
(13,902)
At 30 November 2023
-
0
-
0
-
0
Amortisation and impairment
At 1 December 2022
4,802
2,760
7,562
Amortisation charged for the year
-
0
1,365
1,365
Disposals
(4,802)
(4,125)
(8,927)
At 30 November 2023
-
0
-
0
-
0
Carrying amount
At 30 November 2023
-
0
-
0
-
0
At 30 November 2022
-
0
6,340
6,340
SWPT HOLDINGS LIMITED
FORMERLY KNOWN AS DPI (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 7 -
4
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 December 2022
71,734
67,998
139,732
Additions
-
0
3,143
3,143
Disposals
(71,734)
(71,141)
(142,875)
At 30 November 2023
-
0
-
0
-
0
Depreciation and impairment
At 1 December 2022
67,019
43,152
110,171
Depreciation charged in the year
1,644
6,312
7,956
Eliminated in respect of disposals
(68,663)
(49,464)
(118,127)
At 30 November 2023
-
0
-
0
-
0
Carrying amount
At 30 November 2023
-
0
-
0
-
0
At 30 November 2022
4,715
24,846
29,561
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
51,328
Other debtors
48,009
47,473
48,009
98,801
6
Creditors: amounts falling due within one year
2023
2022
£
£
Loans and borrowings
-
71,136
Trade creditors
-
0
84,252
Taxation and social security
9,983
27,384
Other creditors
38,131
17,609
48,114
200,381
SWPT HOLDINGS LIMITED
FORMERLY KNOWN AS DPI (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 8 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Loans and borrowings
-
129,867
-
0
129,867
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
40
40
40
40
9
Financial commitments, guarantees and contingent liabilities

The total amount of financial commitments not included in the balance sheet is £Nil (2022- £176,475).

10
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Interest free loan repayable on demand
-
(9,954)
(336)
10,307
17
Interest free loan repayable on demand
-
(994)
(528)
312
(1,210)
(10,948)
(864)
10,619
(1,193)
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