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Company Registration No. 12067158 (England and Wales)
SWIIPR TECHNOLOGIES LTD
Financial Statements
for the Period from 01 January 2023 to 31 December 2023

SWIIPR TECHNOLOGIES LTD

Financial Statements for the period ending 31 December 2023

SWIIPR TECHNOLOGIES LTD

Financial Statements for the period ending 31 December 2023

Notes to the Accounts

1. Statutory Information
SWIIPR TECHNOLOGIES LTD is a private company, limited by shares, registered in England and Wales, registration number 12067158.
2. Accounting Policies
Basis of preparing the Financial Statements
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities.
Presentation Currency
The accounts are presented in £ sterling.
Turnover
Revenue is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

SWIIPR TECHNOLOGIES LTD

Financial Statements for the period ending 31 December 2023

Notes to the Accounts

Current Tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statemen 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 subsequently enacted by the balance sheet date.
Tangible Fixed Asset Policy
Tangible assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so a to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:Computer equipment - 20% straight line

SWIIPR TECHNOLOGIES LTD

Financial Statements for the period ending 31 December 2023

Notes to the Accounts

Intangible Asset Policy
Intangible assets acquired separately are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Amortisation commences when the asset is brought into production and is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:Software & Development costs - 20% straight line
Stock
Stock represents prepaid cards held to be sold to customers and are measured at the lower of cost and net realisable value. Cost of stock comprises all costs of purchases, cost of conversion and other costs incurred in bringing the stock to its present location and condition. Cost is determined on a first-in, first-out basis. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale.
Deferred Tax
Deferred tax is recognised i respect 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 different 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.

SWIIPR TECHNOLOGIES LTD

Financial Statements for the period ending 31 December 2023

Notes to the Accounts

3. Employees
Average number of employees, including directors, during the year was as follows:
2023 3
2022 3
4. Principal Activity
The development of IT software and services to the global travel industry

SWIIPR TECHNOLOGIES LTD

Financial Statements for the period ending 31 December 2023

Notes to the Accounts

5. Intangible Assets
Goodwill Other Total
Cost £ £ £
At 01/01/2023 - 428,379 428,379
Additions - 258,179 258,179
Disposals - - -
Revaluations - - -
At 31/12/2023 - 686,558 686,558
Amortisation
At 01/01/2023 - 53,902 53,902
Charge for the Year - 101,277 101,277
On Disposals - - -
Other increases/(decreases) - - -
At end of period - 155,179 155,179
Net book value
At 31/12/2023 - 531,379 531,379
At 31/12/2022 - 374,477 374,477
6. Fixed Assets
Computer Equipment Total
Cost or valuation £ £
At 01/01/2023 547 547
Additions 2,061 2,061
At 31/12/2023 2,608 2,608
Depreciation
At 01/01/2023 155 155
Charge for the year 296 296
At 31/12/2023 451 451
Net Book Value
At 31/12/2023 2,157 2,157
At 31/12/2022 392 392