Company Registration No. 12629130 (England and Wales)
SFWR Ltd
Unaudited accounts
for the year ended 31 May 2024
SFWR Ltd
Unaudited accounts
Contents
SFWR Ltd
Company Information
for the year ended 31 May 2024
Company Number
12629130 (England and Wales)
Registered Office
Unit Z2 Mackleys Industrial Estate
Henfield Road, Small Dole
Henfield
BN5 9XR
Accountants
Flamingo Accounting Limited
Unit 3 Northam Business Centre
Princes Street
Southampton
United Kingdom
SO14 5RP
SFWR Ltd
Statement of financial position
as at 31 May 2024
Intangible assets
19,060
-
Tangible assets
40,632
59,958
Cash at bank and in hand
91,751
62,638
Creditors: amounts falling due within one year
(239,417)
(146,719)
Net current (liabilities)/assets
(35,889)
79,531
Total assets less current liabilities
23,803
139,489
Creditors: amounts falling due after more than one year
(13,331)
(18,330)
Provisions for liabilities
Deferred tax
(10,157)
(14,989)
Called up share capital
200
200
Profit and loss account
115
105,970
Shareholders' funds
315
106,170
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. 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 20 January 2025 and were signed on its behalf by
P Murphy
Director
Company Registration No. 12629130
SFWR Ltd
Notes to the Accounts
for the year ended 31 May 2024
SFWR Ltd is a private company, limited by shares, registered in England and Wales, registration number 12629130. The registered office and principal place of business is Unit Z2 Mackleys Industrial Estate, Henfield Road, Small Dole, Henfield, BN5 9XR.
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:
Plant & machinery
4 years - straight line
Motor vehicles
4 years - straight line
Computer equipment
3 years - straight line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
SFWR Ltd
Notes to the Accounts
for the year ended 31 May 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised 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 rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2023
9,337
71,280
448
81,065
At 31 May 2024
9,337
71,280
1,580
82,197
At 1 June 2023
3,280
17,768
59
21,107
Charge for the year
2,334
17,820
304
20,458
At 31 May 2024
5,614
35,588
363
41,565
At 31 May 2024
3,723
35,692
1,217
40,632
At 31 May 2023
6,057
53,512
389
59,958
Amounts falling due within one year
Trade debtors
16,349
37,305
Amounts due from group undertakings etc.
26,553
23,353
Other debtors
40,627
79,218
SFWR Ltd
Notes to the Accounts
for the year ended 31 May 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
663
-
Trade creditors
178,270
90,115
Taxes and social security
87,434
51,867
Loans from directors
(28,523)
-
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
13,331
18,330
Allotted, called up and fully paid:
180 Ordinary A shares of £1 each
180
180
20 Ordinary b shares of £1 each
20
20
10
Transactions with related parties
As at the year end £26,553.48 (2023: £23,353.48) was owed to the company by PTM Construction, a business controlled by the director, Mr P Murphy.
11
Average number of employees
During the year the average number of employees was 21 (2023: 8).