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REGISTERED NUMBER: 03848768 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

SW Blinds and Interiors Ltd

SW Blinds and Interiors Ltd (Registered number: 03848768)






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 8


SW Blinds and Interiors Ltd

COMPANY INFORMATION
for the year ended 30 April 2024







Directors: Miss D Webster
A Sheppard
J E Thatcher





Secretary: Miss D Webster





Registered office: Unit 26 Plympton Park, Bell Close
Plymouth
Devon
PL7 4FD





Registered number: 03848768 (England and Wales)





Accountants: Websters
129 North Hill
Plymouth
Devon
PL4 8JY

SW Blinds and Interiors Ltd (Registered number: 03848768)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 94,873 109,017
94,873 109,017

Current assets
Stocks 31,431 32,594
Debtors 6 154,797 235,459
Cash at bank and in hand 126,250 100,793
312,478 368,846
Creditors
Amounts falling due within one year 7 334,836 230,109
Net current (liabilities)/assets (22,358 ) 138,737
Total assets less current liabilities 72,515 247,754

Creditors
Amounts falling due after more than
one year

8

(26,977

)

(44,129

)

Provisions for liabilities 11 (10,400 ) (12,000 )
Net assets 35,138 191,625

Capital and reserves
Called up share capital 12 100 100
Retained earnings 35,038 191,525
Shareholders' funds 35,138 191,625

SW Blinds and Interiors Ltd (Registered number: 03848768)

BALANCE SHEET - continued
30 April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2024 and were signed on its behalf by:





A Sheppard - Director


SW Blinds and Interiors Ltd (Registered number: 03848768)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024

1. STATUTORY INFORMATION

SW Blinds & Interiors Ltd is a private company, limited by shares, registered in England and Wales. The company's registration number 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.

Turnover
Turnover is measured at the fair value of the consideration receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised upon completion of the work done for ther customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is calculated to write down the cost of tangible fixed assets to their expected residual value over their expected useful economic lives using the following rates:

Freehold landNil
Freehold buildings2% of cost
Equipment & vans15% - 50% of net book value
Motor cars25% over primary lease period

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in, first out basis. Net realisable value represents estimated selling price less costs required to sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and 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.


SW Blinds and Interiors Ltd (Registered number: 03848768)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

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.

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.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

SW Blinds and Interiors Ltd (Registered number: 03848768)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 May 2023
and 30 April 2024 10,000
Amortisation
At 1 May 2023
and 30 April 2024 10,000
Net book value
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Equipment
& vans Cars Totals
£    £    £   
Cost
At 1 May 2023 125,813 54,697 180,510
Additions 3,325 - 3,325
At 30 April 2024 129,138 54,697 183,835
Depreciation
At 1 May 2023 70,937 556 71,493
Charge for year 10,795 6,674 17,469
At 30 April 2024 81,732 7,230 88,962
Net book value
At 30 April 2024 47,406 47,467 94,873
At 30 April 2023 54,876 54,141 109,017

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 95,092 79,346
Amounts owed by group undertakings 20,600 150,000
Other debtors 39,105 6,113
154,797 235,459

SW Blinds and Interiors Ltd (Registered number: 03848768)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,860 10,160
Finance leases (see note 9) 7,451 6,833
Trade creditors 171,412 97,667
Taxation and social security 115,976 102,836
Other creditors 30,137 12,613
334,836 230,109

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 10,973 20,674
Finance leases (see note 9) 16,004 23,455
26,977 44,129

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2024 2023
£    £   
Net obligations repayable:
Within one year 7,451 6,833
Between one and five years 16,004 23,455
23,455 30,288

Non-cancellable operating leases
2024 2023
£    £   
Within one year 26,000 26,000
Between one and five years 61,232 87,232
87,232 113,232

SW Blinds and Interiors Ltd (Registered number: 03848768)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 20,833 30,834
Finance leases 23,455 30,288
44,288 61,122

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 10,400 12,000

Deferred
tax
£   
Balance at 1 May 2023 12,000
Provided during year (1,600 )
Balance at 30 April 2024 10,400

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares £1 100 100

13. RELATED PARTY DISCLOSURES

During the year the company paid £28,600 for rent and service charges to the holding company.

14. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by D Webster and A Sheppard who own 75% of the holding company SW Properties SW Limited.