Swat Utilities Limited 08501434 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is electrical installation Digita Accounts Production Advanced 6.30.9574.0 true true 08501434 2022-06-01 2023-05-31 08501434 2023-05-31 08501434 bus:Director1 1 2023-05-31 08501434 core:RetainedEarningsAccumulatedLosses 2023-05-31 08501434 core:ShareCapital 2023-05-31 08501434 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 08501434 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 08501434 core:FurnitureFittingsToolsEquipment 2023-05-31 08501434 core:MotorVehicles 2023-05-31 08501434 bus:SmallEntities 2022-06-01 2023-05-31 08501434 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 08501434 bus:FilletedAccounts 2022-06-01 2023-05-31 08501434 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 08501434 bus:RegisteredOffice 2022-06-01 2023-05-31 08501434 bus:Director1 2022-06-01 2023-05-31 08501434 bus:Director1 1 2022-06-01 2023-05-31 08501434 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 08501434 core:FurnitureFittingsToolsEquipment 2022-06-01 2023-05-31 08501434 core:MotorVehicles 2022-06-01 2023-05-31 08501434 countries:AllCountries 2022-06-01 2023-05-31 08501434 2022-05-31 08501434 bus:Director1 1 2022-05-31 08501434 core:FurnitureFittingsToolsEquipment 2022-05-31 08501434 core:MotorVehicles 2022-05-31 08501434 2021-06-01 2022-05-31 08501434 2022-05-31 08501434 bus:Director1 1 2022-05-31 08501434 core:RetainedEarningsAccumulatedLosses 2022-05-31 08501434 core:ShareCapital 2022-05-31 08501434 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 08501434 core:Non-currentFinancialInstruments core:AfterOneYear 2022-05-31 08501434 core:FurnitureFittingsToolsEquipment 2022-05-31 08501434 core:MotorVehicles 2022-05-31 08501434 bus:Director1 1 2021-06-01 2022-05-31 08501434 bus:Director1 1 2021-05-31 iso4217:GBP xbrli:pure

Registration number: 08501434

Swat Utilities Limited



Filleted Unaudited Financial Statements

for the Year Ended 31 May 2023

 

Swat Utilities Limited

 

(Registration number: 08501434)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

18,966

25,288

Current assets

 

Stocks

5

200,000

-

Debtors

6

429,711

306,643

Cash at bank and in hand

 

393,224

799,573

 

1,022,935

1,106,216

Creditors: Amounts falling due within one year

7

(428,089)

(458,269)

Net current assets

 

594,846

647,947

Total assets less current liabilities

 

613,812

673,235

Creditors: Amounts falling due after more than one year

7

(30,000)

(39,974)

Net assets

 

583,812

633,261

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

583,811

633,260

Total equity

 

583,812

633,261

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 August 2024
 

 

Swat Utilities Limited

 

(Registration number: 08501434)
Balance Sheet as at 31 May 2023

.........................................
Mr J Pariente
Director

 

Swat Utilities Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
2ND Floor Parkgates Bury New Road
Prestwich
Manchester
M25 0TL
United Kingdom

These financial statements were authorised for issue by the director on 29 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Swat Utilities Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Swat Utilities Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2022 - 9).

 

Swat Utilities Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2022

34,115

49,374

83,489

At 31 May 2023

34,115

49,374

83,489

Depreciation

At 1 June 2022

23,189

35,012

58,201

Charge for the year

2,731

3,591

6,322

At 31 May 2023

25,920

38,603

64,523

Carrying amount

At 31 May 2023

8,195

10,771

18,966

At 31 May 2022

10,926

14,362

25,288

5

Stocks

2023
£

2022
£

Work in progress

200,000

-

6

Debtors

Current

2023
£

2022
£

Trade debtors

262,431

256,256

Other debtors

167,280

50,387

 

429,711

306,643

7

Creditors

Creditors: amounts falling due within one year

 

Swat Utilities Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

25,781

31,936

Trade creditors

 

192,491

299,866

Taxation and social security

 

111,579

107,581

Accruals and deferred income

 

5,601

11,598

Other creditors

 

92,637

7,288

 

428,089

458,269

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

30,000

39,974

8

Related party transactions

 

Swat Utilities Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Transactions with the director

2023

At 1 June 2022
£

Advances to director
£

At 31 May 2023
£

Mr J Pariente

Interest free loan

46,662

66,207

112,869

2022

At 1 June 2021
£

Advances to director
£

At 31 May 2022
£

Mr J Pariente

Interest free loan

41,666

4,996

46,662