SJWS SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
SJWS Services Limited ("the company") is a private company, limited by shares, incorporated in England and Wales with registration number of 07921881. The registered office is 5 New Street Square, London, EC4A 3TW.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
On 31 October 2022, the company transferred its principal trading activity to St John's Wood Square Limited. Since this date, a small amount of costs have been incurred in relation to moving supplier contracts over, with a view that the company will no longer trade and will become dormant. There is no intention to strike off the company at this time.
After making enquiries, the directors have a reasonable expectation that the company has the continued financial support from the shareholder and accordingly the company has adequate resources to continue in operational existence for the foreseeable future, and hence consider the adoption of the going concern basis in preparing these financial statements to be appropriate.
Turnover comprises revenue recognised by the company in respect of services supplied during the period, exclusive of Value Added Tax.
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Operating leases: the company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Interest income is recognised in profit or loss using the effective interest method.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.
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