Registered number
12205104
SWJ Entertainment Ltd
Filleted Accounts
for the year ended 31 January 2024
SWJ Entertainment Ltd
Registered number: 12205104
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 80,000 120,000
Tangible assets 4 2,159 2,083
Investments 5 40,000 40,000
122,159 162,083
Current assets
Debtors 6 16,998 19,624
Cash at bank and in hand 57,048 60,042
74,046 79,666
Creditors: amounts falling due within one year 7 (365,957) (380,441)
Net current assets/(liabilities) (291,911) (300,775)
Total assets less current liabilities (169,752) (138,692)
Creditors: amounts falling due after more than one year 9 (103,017) (109,998)
Net assets (272,769) (248,690)
Capital and reserves
Called up share capital 1 1
Profit and loss account (272,770) (248,691)
Shareholder's funds (272,769) (248,690)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Helen Lougheed
Director
Approved by the board on 7 August 2024
SWJ Entertainment Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 20% Straight line
Fixtures and fittings 20% Straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 23 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 240,000
At 31 January 2024 240,000
Amortisation
At 1 February 2023 120,000
Provided during the year 40,000
At 31 January 2024 160,000
Net book value
At 31 January 2024 80,000
At 31 January 2023 120,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Office equipment Plant & machinery Fixtures & fittings Total
£ £ £ £
Cost
At 1 February 2023 1,676 1,488 1,192 4,356
Additions 1,184 - - 1,184
At 31 January 2024 2,860 1,488 1,192 5,540
Depreciation
At 1 February 2023 963 595 715 2,273
Charge for the year 572 297 239 1,108
At 31 January 2024 1,535 892 954 3,381
Net book value
At 31 January 2024 1,325 596 238 2,159
At 31 January 2023 713 893 477 2,083
5 Investments
Freehold
property
£
Cost
At 1 February 2023 40,000
At 31 January 2024 40,000
6 Debtors 2024 2023
£ £
Trade debtors 15,264 17,890
Other debtors 1,734 1,734
16,998 19,624
7 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 121,726 161,726
Other taxes and social security (2,560) (8,010)
Accruals 3,600 3,600
Director's account 215,011 195,953
VAT 28,180 27,172
365,957 380,441
8 Profit and loss account 2024
£
At 1 February 2023 (248,691)
Profit/(Loss) for the year (24,079)
Dividend -
At 31 January 2024 (272,770)
9 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 103,017 109,998
10 Related party transactions
Included within the creditors at the year end is £215,011 (2023: £195,953) due to Mr Paul Bentley, the company director. During the period the company paid £202,650 of expenses on behalf of the director and the director introduced £221,708.
11 Controlling party
The ultimate controlling party is the director and shareholder Mr Paul Bentley.
12 Other information
SWJ Entertainment Ltd is a private company limited by shares and incorporated in England. Its registered office is:
23 Grimshaw Street
Church
Accrington
BB5 4LG
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