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REGISTERED NUMBER: SC629731 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

SWITCHEASE LIMITED

SWITCHEASE LIMITED (REGISTERED NUMBER: SC629731)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


SWITCHEASE LIMITED

COMPANY INFORMATION
for the Year Ended 30 November 2023







DIRECTOR: S P Jamieson





REGISTERED OFFICE: 13 Glasgow Road
Paisley
Renfrewshire
PA1 3QS





REGISTERED NUMBER: SC629731 (Scotland)





ACCOUNTANTS: Profit Counts Limited
13 Glasgow Road
Paisley
Renfrewshire
PA1 3QS

SWITCHEASE LIMITED (REGISTERED NUMBER: SC629731)

ABRIDGED BALANCE SHEET
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,796 2,159

CURRENT ASSETS
Debtors 17,971 15,123
Cash at bank - 354
17,971 15,477
CREDITORS
Amounts falling due within one year 18,280 12,470
NET CURRENT (LIABILITIES)/ASSETS (309 ) 3,007
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,487

5,166

CREDITORS
Amounts falling due after more than one
year

(3,320

)

(4,322

)

PROVISIONS FOR LIABILITIES 5 (911 ) (410 )
NET ASSETS 256 434

CAPITAL AND RESERVES
Called up share capital 6 1 1
Retained earnings 7 255 433
SHAREHOLDERS' FUNDS 256 434

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 November 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2024 and were signed by:




S P Jamieson - Director


SWITCHEASE LIMITED (REGISTERED NUMBER: SC629731)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Switchease 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

SWITCHEASE LIMITED (REGISTERED NUMBER: SC629731)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2022 4,604
Additions 4,910
At 30 November 2023 9,514
DEPRECIATION
At 1 December 2022 2,445
Charge for year 2,273
At 30 November 2023 4,718
NET BOOK VALUE
At 30 November 2023 4,796
At 30 November 2022 2,159

5. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 911 410

Deferred
tax
£   
Balance at 1 December 2022 410
Accelerated depreciation 501
Balance at 30 November 2023 911

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

7. RESERVES
Retained
earnings
£   

At 1 December 2022 433
Profit for the year 1,322
Dividends (1,500 )
At 30 November 2023 255

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the Director owed the company £17,971 (2023 - £15,123). The company charges the director interest on the average annual overdrawn balance at 4.5%

9. CONTINGENT ASSETS

At the balance sheet date, the company is pursuing an insurance claim for loss of income due to director's illness. If successful, the payout is estimated to be in the region of £20,000.