REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
SWAT ACCESS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
SWAT ACCESS LIMITED |
SWAT ACCESS LIMITED (REGISTERED NUMBER: 07330188) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 January 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SWAT ACCESS LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 January 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
& Business Advisors |
Vantage House |
3 East Terrace Business Park |
Euxton Lane, Euxton |
Chorley |
Lancashire |
PR7 6TB |
SWAT ACCESS LIMITED (REGISTERED NUMBER: 07330188) |
ABRIDGED BALANCE SHEET |
31 January 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
SWAT ACCESS LIMITED (REGISTERED NUMBER: 07330188) |
ABRIDGED BALANCE SHEET - continued |
31 January 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
SWAT ACCESS LIMITED (REGISTERED NUMBER: 07330188) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Swat Access Limited is a private company, limited by shares, registered in England and Wales. The registered office address can be found on the company information page. |
2. | COMPLIANCE WITH ACCOUNTING STANDARDS |
The accounts have been prepared in accordance with the provisions of FRS102 Section 1A small entities. There were no material departures from that standard. |
3. | ACCOUNTING POLICIES |
Accounting policies |
The principle accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year/period and have also been consistently applied within the same accounts. |
Income recognition |
Income is recognised when goods and services have been delivered to customers such that risks and rewards of ownership have transferred to them. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Inventories |
Inventories have been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture / completion. |
Financial instruments |
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans. |
Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings. |
SWAT ACCESS LIMITED (REGISTERED NUMBER: 07330188) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2024 |
3. | ACCOUNTING POLICIES - continued |
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 taxation |
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. |
Tax deferred or accelerated is accounted for in respect of all material timing differences. |
Hire purchase and leasing commitments |
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible assets. The related obligations, net of future finance charges, are included in creditors. |
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 February 2023 |
Additions |
Disposals | ( |
) |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
SWAT ACCESS LIMITED (REGISTERED NUMBER: 07330188) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows: |
Totals |
£ |
COST |
At 1 February 2023 | 2,334,380 |
Additions | 294,582 |
Disposals | (7,500 | ) |
At 31 January 2024 | 2,621,462 |
DEPRECIATION |
At 1 February 2023 | 394,337 |
Charge for year | 109,479 |
Eliminated on disposal | (3,476 | ) |
At 31 January 2024 | 500,340 |
NET BOOK VALUE |
At 31 January 2024 | 2,121,122 |
At 31 January 2023 | 1,940,043 |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.1.24 | 31.1.23 |
£ | £ |
Hire purchase contracts and finance leases | 998,665 | 1,099,559 |
Hire purchases liabilities are secured on the assets to which they relate. |
7. | ULTIMATE CONTROLLING PARTY |
The controlling party is S May. |