REGISTERED NUMBER: |
Manuel Swaden Limited |
Unaudited Financial Statements |
for the Year Ended 30 November 2023 |
REGISTERED NUMBER: |
Manuel Swaden Limited |
Unaudited Financial Statements |
for the Year Ended 30 November 2023 |
Manuel Swaden Limited (Registered number: 07792034) |
Contents of the Financial Statements |
for the year ended 30 November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Manuel Swaden Limited |
Company Information |
for the year ended 30 November 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
Manuel Swaden Limited (Registered number: 07792034) |
Balance Sheet |
30 November 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Work in progress | 6 |
Debtors | 7 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 8 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
9 |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Retained earnings | 11 |
Shareholders' funds |
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. |
Manuel Swaden Limited (Registered number: 07792034) |
Balance Sheet - continued |
30 November 2023 |
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 |
Manuel Swaden Limited (Registered number: 07792034) |
Notes to the Financial Statements |
for the year ended 30 November 2023 |
1. | Statutory information |
Manuel Swaden Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents amounts receivable for services provided in the year and is stated net of VAT. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business and is being amortised evenly over its estimated useful life of 10 years. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Work in progress |
Revenue and costs are recognised by reference to the stage of completion at the reporting end date. |
Where the outcome cannot be estimated reliably, Costs are recognised as expenses in the period in which they are incurred and contract revenue is recognised to the extent of costs incurred where it is probable that they will be recoverable. |
The percentage of completion method is used to determine the appropriate amount to recognise in a given period. |
Manuel Swaden Limited (Registered number: 07792034) |
Notes to the Financial Statements - continued |
for the year ended 30 November 2023 |
2. | Accounting policies - continued |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial |
recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bankand bank overdrafts which are an integral part of the company's cash management. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the |
substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme for all qualifying employees. The assets of |
the scheme are held separately from those of the company in an independently administered fund. |
3. | Employees and directors |
The average number of employees during the year was |
Manuel Swaden Limited (Registered number: 07792034) |
Notes to the Financial Statements - continued |
for the year ended 30 November 2023 |
4. | Intangible fixed assets |
Patents and |
Goodwill | licences | Totals |
£ | £ | £ |
Cost |
At 1 December 2022 |
and 30 November 2023 |
Amortisation |
At 1 December 2022 |
Amortisation for year |
At 30 November 2023 |
Net book value |
At 30 November 2023 |
At 30 November 2022 |
5. | Tangible fixed assets |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
Cost |
At 1 December 2022 |
Additions |
At 30 November 2023 |
Depreciation |
At 1 December 2022 |
Charge for year |
At 30 November 2023 |
Net book value |
At 30 November 2023 |
At 30 November 2022 |
6. | Work in progress |
2023 | 2022 |
£ | £ |
Work-in-progress |
Manuel Swaden Limited (Registered number: 07792034) |
Notes to the Financial Statements - continued |
for the year ended 30 November 2023 |
7. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
8. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
9. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans |
10. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary share A | £1 | 1 | 1 |
Ordinary share B | £1 | 1 | 1 |
Ordinary share C | £1 | 1 | 1 |
3 | 3 |
11. | Reserves |
Retained |
earnings |
£ |
At 1 December 2022 |
Profit for the year |
Dividends | ( |
) |
At 30 November 2023 |
Manuel Swaden Limited (Registered number: 07792034) |
Notes to the Financial Statements - continued |
for the year ended 30 November 2023 |
12. | Pension commitments |
The charge to profit and loss in respect of defined contribution schemes was £10,077 (2022 : £12,486). |
The company operates a defined contribution scheme for all qualifying employees. The assets of the scheme are held from those of the company in an independently administered fund. |