3 01/06/2023 31/05/2024 2024-05-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-06-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 13367348 2023-06-01 2024-05-31 13367348 2024-05-31 13367348 2023-05-31 13367348 2022-06-01 2023-05-31 13367348 2023-05-31 13367348 2022-05-31 13367348 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 13367348 bus:Director2 2023-06-01 2024-05-31 13367348 core:FurnitureFittingsToolsEquipment 2023-05-31 13367348 core:FurnitureFittingsToolsEquipment 2024-05-31 13367348 core:WithinOneYear 2024-05-31 13367348 core:WithinOneYear 2023-05-31 13367348 core:ShareCapital 2024-05-31 13367348 core:ShareCapital 2023-05-31 13367348 core:RetainedEarningsAccumulatedLosses 2024-05-31 13367348 core:RetainedEarningsAccumulatedLosses 2023-05-31 13367348 core:FurnitureFittingsToolsEquipment 2023-05-31 13367348 bus:SmallEntities 2023-06-01 2024-05-31 13367348 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 13367348 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 13367348 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 13367348 bus:FullAccounts 2023-06-01 2024-05-31
Company registration number: 13367348
UK Swiss Ltd
Unaudited filleted financial statements
31 May 2024
UK Swiss Ltd
Contents
Statement of financial position
Notes to the financial statements
UK Swiss Ltd
Statement of financial position
31 May 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 8,588 10,735
_______ _______
8,588 10,735
Current assets
Stocks 10,000 12,022
Debtors 6 11,960 13,248
Cash at bank and in hand 51,472 17,335
_______ _______
73,432 42,605
Creditors: amounts falling due
within one year 7 ( 27,007) ( 29,239)
_______ _______
Net current assets 46,425 13,366
_______ _______
Total assets less current liabilities 55,013 24,101
Provisions for liabilities ( 2,147) ( 2,040)
_______ _______
Net assets 52,866 22,061
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account 52,856 22,051
_______ _______
Shareholders funds 52,866 22,061
_______ _______
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 October 2024 , and are signed on behalf of the board by:
Mr Ryan Adams
Director
Company registration number: 13367348
UK Swiss Ltd
Notes to the financial statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is The Four Columns, Broughton Hall Business Park, Skipton, North Yorkshire, BD23 3AE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Tangible assets
Tangible assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in a settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 June 2023 and 31 May 2024 15,590 15,590
_______ _______
Depreciation
At 1 June 2023 4,855 4,855
Charge for the year 2,147 2,147
_______ _______
At 31 May 2024 7,002 7,002
_______ _______
Carrying amount
At 31 May 2024 8,588 8,588
_______ _______
At 31 May 2023 10,735 10,735
_______ _______
6. Debtors
2024 2023
£ £
Other debtors 11,960 13,248
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors - 6,148
Corporation tax 10,268 2,429
Social security and other taxes 3,439 1,862
Other creditors 13,300 18,800
_______ _______
27,007 29,239
_______ _______