Company Registration No. 11158502 (England and Wales)
Switcha Limited
Unaudited accounts
for the year ended 31 January 2024
Switcha Limited
Unaudited accounts
Contents
Switcha Limited
Company Information
for the year ended 31 January 2024
Directors
Nathan Cafearo
Alan Milne
Company Number
11158502 (England and Wales)
Registered Office
Second Floor, De Burgh House
Market Road
Wickford
Essex
SS12 0FD
United Kingdom
Switcha Limited
Statement of financial position
as at 31 January 2024
Tangible assets
1,831
3,474
Cash at bank and in hand
122,203
104,479
Creditors: amounts falling due within one year
(975,584)
(945,462)
Net current liabilities
(816,779)
(835,987)
Net liabilities
(814,948)
(832,513)
Called up share capital
1
1
Profit and loss account
(814,949)
(832,514)
Shareholders' funds
(814,948)
(832,513)
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by
Nathan Cafearo
Director
Company Registration No. 11158502
Switcha Limited
Notes to the Accounts
for the year ended 31 January 2024
Switcha Limited is a private company, limited by shares, registered in England and Wales, registration number 11158502. The registered office is Second Floor, De Burgh House, Market Road, Wickford, Essex, SS12 0FD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
5 years
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
Capitalised website and software costs are amortised over five years.
4
Intangible fixed assets
Other
At 1 February 2023
191,713
At 31 January 2024
191,713
At 1 February 2023
191,713
At 31 January 2024
191,713
Switcha Limited
Notes to the Accounts
for the year ended 31 January 2024
5
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Trade debtors
21,886
1,075
Other debtors
14,716
3,921
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
14,352
6,000
Amounts owed to group undertakings and other participating interests
776,856
776,856
Loans from directors
118,915
144,015
8
Average number of employees
During the year the average number of employees was 5 (2023: 5).