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Registered Number: 14413684


 

 

 

SWAP ANY CAR LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 12 October 2022

End date: 31 October 2023
Directors N Baxter
E Bolger
J Kingsley
Registered Number 14413684
Registered Office 9 Corbets Tey Road
Upminster
Essex
RM14 2AP
Accountants Versa Tax Solutions Ltd
9 Corbets Tey Road
Upminster
Essex
RM14 2AP
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 October 2023.
Principal activities
Principal activity of the company during the financial period was development of a car buying and selling app.

Directors
The directors who served the company throughout the period were as follows:
N Baxter
E Bolger
J Kingsley
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
N Baxter
Director

Date approved: 03 October 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 October 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Versa Tax Solutions Ltd
31 October 2023



....................................................
Versa Tax Solutions Ltd
9 Corbets Tey Road
Upminster
Essex
RM14 2AP
03 October 2024
3
 
 
Notes
 
2023
£
Gross profit
Administrative expenses (67,200)
Operating loss (67,200)
Profit/(Loss) on ordinary activities before taxation (67,200)
Tax on profit on ordinary activities
Profit/(Loss) for the financial period (67,200)
 
4
 
 
Notes
 
2023
£
Fixed assets    
Intangible fixed assets 3 453,101 
Tangible fixed assets 4 624 
453,725 
Current assets    
Debtors 5 5,433 
Cash at bank and in hand 7,793 
13,226 
Creditors: amount falling due within one year 6 (114,488)
Net current assets (101,262)
 
Total assets less current liabilities 352,463 
Net assets 352,463 
 

Capital and reserves
   
Called up share capital 113 
Share premium account 7 159,886 
Reserves 8 259,664 
Profit and loss account (67,200)
Shareholders' funds 352,463 
 


For the period ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 03 October 2024 and were signed on its behalf by:


-------------------------------
N Baxter
Director
5
  Equity share capital   Equity share premium   Revaluation reserve   Capital redemption reserve   Retained Earnings   Total
£ £ £ £ £ £
At 12 October 2022
Profit for the period (67,200) (67,200)
Revaluation of Fixed Assets 259,664  259,664 
Total comprehensive income for the period 259,664  (67,200) 192,464 
Shares issued 113  113 
Equity share premium - new issue 159,886  159,886 
Total investments by and distributions to owners 113  159,886  159,999 
At 31 October 2023 113  159,886  259,664  (67,200) 352,463 
6
General Information
Swap Any Car Ltd is a private company, limited by shares, registered in , registration number 14413684, registration address 9 Corbets Tey Road, Upminster, Essex, RM14 2AP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 20% Reducing Balance
2.

Average number of employees

Average number of employees during the period was 1.
3.

Intangible fixed assets

Cost Other Intangible 25%   Total
  £   £
At 12 October 2022  
Additions 193,437    193,437 
Disposals  
Revaluations 259,664    259,664 
At 31 October 2023 453,101    453,101 
Amortisation
At 12 October 2022  
Charge for period  
On disposals  
At 31 October 2023  
Net book values
At 31 October 2023 453,101    453,101 
At 11 October 2022  


4.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 12 October 2022  
Additions 832    832 
Disposals  
At 31 October 2023 832    832 
Depreciation
At 12 October 2022  
Charge for period 208    208 
On disposals  
At 31 October 2023 208    208 
Net book values
Closing balance as at 31 October 2023 624    624 
Opening balance as at 12 October 2022  


5.

Debtors: amounts falling due within one year

2023
£
VAT 5,433 
5,433 

6.

Creditors: amount falling due within one year

2023
£
Trade Creditors 32,657 
Other Creditors 45,001 
Directors' Current Accounts 36,830 
114,488 

7.

Share premium account

2023
£
Equity Share Premium - New Issue 159,886 
159,886 

8.

Reserves

2023
£
Revaluation of Fixed Assets 259,664 
259,664 

7