2023-03-012024-02-292024-02-29false11182071SW INSULATION SERVICE 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SW INSULATION SERVICE LIMITED

Registered Number
11182071
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

SW INSULATION SERVICE LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

WALES, Steven

Registered Address

Suite 2.05 Swans Centre For Innovation
Station Road
Wallsend
NE28 6EQ

Registered Number

11182071 (England and Wales)
SW INSULATION SERVICE LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3461576
461576
Current assets
Debtors414,57844,039
Cash at bank and on hand21,34472
35,92244,111
Creditors amounts falling due within one year5(11,885)(14,643)
Net current assets (liabilities)24,03729,468
Total assets less current liabilities24,49830,044
Creditors amounts falling due after one year6(24,394)(29,841)
Net assets104203
Capital and reserves
Profit and loss account104203
Shareholders' funds104203
The financial statements were approved and authorised for issue by the Director on 5 November 2024, and are signed on its behalf by:
WALES, Steven
Director
Registered Company No. 11182071
SW INSULATION SERVICE LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Vehicles20
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Vehicles

Total

££
Cost or valuation
At 01 March 23900900
At 29 February 24900900
Depreciation and impairment
At 01 March 23324324
Charge for year115115
At 29 February 24439439
Net book value
At 29 February 24461461
At 28 February 23576576
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,02037,992
Other debtors13,5586,047
Total14,57844,039
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2,7501,700
Taxation and social security9,13512,943
Total11,88514,643
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts24,39429,841
Total24,39429,841