REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
SW Properties SW Ltd |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
SW Properties SW Ltd |
SW Properties SW Ltd (Registered number: 08455293) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 6 |
SW Properties SW Ltd |
COMPANY INFORMATION |
for the year ended 30 April 2024 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
129 North Hill |
Plymouth |
Devon |
PL4 8JY |
SW Properties SW Ltd (Registered number: 08455293) |
BALANCE SHEET |
30 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
Current assets |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 5 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Provisions for liabilities | 6 |
Net assets |
Capital and reserves |
Called up share capital | 7 |
Revaluation reserve | 8 |
Retained earnings |
Shareholders' funds |
SW Properties SW Ltd (Registered number: 08455293) |
BALANCE SHEET - continued |
30 April 2024 |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
SW Properties SW Ltd (Registered number: 08455293) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 April 2024 |
1. | STATUTORY INFORMATION |
SW Properties SW Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number, business address and registered office address can be found on the company information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006 The financial statements have been prepared under the historical cost convention as modified by the revaluation of investment property. |
Preparation of consolidated financial statements |
The financial statements contain information about SW Properties SW Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover represents rent and service charges receivable for the period covered by the financial statements. Where rents are received in advance of the balance sheet date, the amounts are recorded as deferred income and included as part of creditors due within one year. |
Investments in subsidiaries and associates |
Investments in subsidiary and associate undertakings are recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
SW Properties SW Ltd (Registered number: 08455293) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
Debtors |
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
Creditors |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group | Investment |
undertakings | property | Totals |
£ | £ | £ |
Cost or valuation |
At 1 May 2023 | 350,100 |
Revaluations | 100,000 |
At 30 April 2024 | 450,100 |
Net book value |
At 30 April 2024 | 450,100 |
At 30 April 2023 | 350,100 |
Cost or valuation at 30 April 2024 is represented by: |
Shares in |
group | Investment |
undertakings | property | Totals |
£ | £ | £ |
Valuation in 2022 | - | 90,000 | 90,000 |
Valuation in 2023 | - | 50,000 | 50,000 |
Valuation in 2024 | - | 100,000 | 100,000 |
Cost | 100 | 210,000 | 210,100 |
100 | 450,000 | 450,100 |
Shares in group undertakings represents 100% of the issued share capital of SW Blinds & Interiors Limited, a trading company registered in England and Wales. |
SW Properties SW Ltd (Registered number: 08455293) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2024 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
6. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 46,000 | 32,000 |
Deferred |
tax |
£ |
Balance at 1 May 2023 |
Provided during year |
Balance at 30 April 2024 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary shares | £1 | 200 | 200 |
8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 May 2023 |
Revaluation reserve | 73,500 |
At 30 April 2024 |
9. | RELATED PARTY DISCLOSURES |
During the year the holding company received rent and service charge income of £28,600 from the subsiduary SW Blinds & Interiors Ltd. |
10. | ULTIMATE CONTROLLING PARTY |
The controlling parties are A Sheppard, D Webster and A Lynch. |