Swiss CNC Ltd 12505020 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Engineering Agent Digita Accounts Production Advanced 6.30.9574.0 true 12505020 2023-04-01 2024-03-31 12505020 2024-03-31 12505020 bus:OrdinaryShareClass1 2024-03-31 12505020 core:CurrentFinancialInstruments 2024-03-31 12505020 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12505020 core:FurnitureFittingsToolsEquipment 2024-03-31 12505020 core:MotorVehicles 2024-03-31 12505020 core:OtherRelatedParties 2024-03-31 12505020 bus:SmallEntities 2023-04-01 2024-03-31 12505020 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12505020 bus:FilletedAccounts 2023-04-01 2024-03-31 12505020 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12505020 bus:RegisteredOffice 2023-04-01 2024-03-31 12505020 bus:Director1 2023-04-01 2024-03-31 12505020 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 12505020 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12505020 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 12505020 core:MotorVehicles 2023-04-01 2024-03-31 12505020 core:OtherRelatedParties 2023-04-01 2024-03-31 12505020 countries:AllCountries 2023-04-01 2024-03-31 12505020 2022-04-01 2023-03-31 12505020 2023-03-31 12505020 bus:OrdinaryShareClass1 2023-03-31 12505020 core:CurrentFinancialInstruments 2023-03-31 12505020 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12505020

Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Swiss CNC Ltd

 

Swiss CNC Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Swiss CNC Ltd

Company Information

Director

Warren Garratt

Registered office

10 Saxon Drive
Newport
Shropshire
TF10 7FP

Accountants

Stephen Jones Accountants
Chartered Certified Accountants
King Edward House
82 Stourbridge Road
Halesowen
West Midlands
B63 3UP

 

Swiss CNC Ltd

(Registration number: 12505020)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

54,797

-

Current assets

 

Debtors

5

2,248

1

Cash at bank and in hand

 

623

-

 

2,871

1

Creditors: Amounts falling due within one year

6

(83,796)

(212)

Net current liabilities

 

(80,925)

(211)

Net liabilities

 

(26,128)

(211)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(26,129)

(212)

Shareholders' deficit

 

(26,128)

(211)

For the financial year ending 31 March 2024 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 their 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
 

.........................................
Warren Garratt
Director

 

Swiss CNC Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
10 Saxon Drive
Newport
Shropshire
TF10 7FP

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.

The presentation currency is £ sterling

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 sales/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.

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:

 

Swiss CNC Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Swiss CNC Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

Additions

982

72,081

73,063

At 31 March 2024

982

72,081

73,063

Depreciation

Charge for the year

246

18,020

18,266

At 31 March 2024

246

18,020

18,266

Carrying amount

At 31 March 2024

736

54,061

54,797

5

Debtors

Current

2024
£

2023
£

Trade debtors

900

-

Other debtors

1,348

1

 

2,248

1

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

750

-

Other creditors

83,046

212

83,796

212

7

Share capital

Allotted, called up and not fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       
 

Swiss CNC Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Related party transactions

Loans from related parties

2024

Other related parties
£

Total
£

Advanced

83,046

83,046

At end of period

83,046

83,046

Terms of loans from related parties

The director has loaned the company £83,046 (shown in other creditors) at the year end for cash flow and investment in fixed assets. This carries no interest or fixed date of repayment and will only be repaid as cash flow permits