IRIS Accounts Production v24.3.0.553 10777359 director 1.5.23 30.4.24 30.4.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh107773592023-04-30107773592024-04-30107773592023-05-012024-04-30107773592022-04-30107773592022-05-012023-04-30107773592023-04-3010777359ns15:EnglandWales2023-05-012024-04-3010777359ns14:PoundSterling2023-05-012024-04-3010777359ns10:Director12023-05-012024-04-3010777359ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3010777359ns10:SmallEntities2023-05-012024-04-3010777359ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3010777359ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3010777359ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3010777359ns10:FullAccounts2023-05-012024-04-301077735912023-05-012024-04-3010777359ns10:OrdinaryShareClass12023-05-012024-04-3010777359ns10:RegisteredOffice2023-05-012024-04-3010777359ns5:CurrentFinancialInstruments2024-04-3010777359ns5:CurrentFinancialInstruments2023-04-3010777359ns5:Non-currentFinancialInstruments2024-04-3010777359ns5:Non-currentFinancialInstruments2023-04-3010777359ns5:ShareCapital2024-04-3010777359ns5:ShareCapital2023-04-3010777359ns5:RetainedEarningsAccumulatedLosses2024-04-3010777359ns5:RetainedEarningsAccumulatedLosses2023-04-3010777359ns5:NetGoodwill2023-05-012024-04-3010777359ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3010777359ns5:PlantMachinery2023-05-012024-04-3010777359ns5:FurnitureFittings2023-05-012024-04-3010777359ns5:MotorVehicles2023-05-012024-04-3010777359ns5:ComputerEquipment2023-05-012024-04-3010777359ns5:NetGoodwill2023-04-3010777359ns5:NetGoodwill2024-04-3010777359ns5:NetGoodwill2023-04-3010777359ns5:PlantMachinery2023-04-3010777359ns5:FurnitureFittings2023-04-3010777359ns5:MotorVehicles2023-04-3010777359ns5:ComputerEquipment2023-04-3010777359ns5:PlantMachinery2024-04-3010777359ns5:FurnitureFittings2024-04-3010777359ns5:MotorVehicles2024-04-3010777359ns5:ComputerEquipment2024-04-3010777359ns5:PlantMachinery2023-04-3010777359ns5:FurnitureFittings2023-04-3010777359ns5:MotorVehicles2023-04-3010777359ns5:ComputerEquipment2023-04-3010777359ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-3010777359ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-05-012024-04-3010777359ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-04-3010777359ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-3010777359ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3010777359ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3010777359ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-04-3010777359ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-04-3010777359ns5:WithinOneYearns5:HirePurchaseContracts2024-04-3010777359ns5:WithinOneYearns5:HirePurchaseContracts2023-04-3010777359ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-04-3010777359ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-04-3010777359ns5:HirePurchaseContracts2024-04-3010777359ns5:HirePurchaseContracts2023-04-3010777359ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-04-3010777359ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-04-3010777359ns5:WithinOneYear2024-04-3010777359ns5:WithinOneYear2023-04-3010777359ns5:BetweenOneFiveYears2024-04-3010777359ns5:BetweenOneFiveYears2023-04-3010777359ns5:MoreThanFiveYears2024-04-3010777359ns5:MoreThanFiveYears2023-04-3010777359ns5:AllPeriods2024-04-3010777359ns5:AllPeriods2023-04-3010777359ns10:OrdinaryShareClass12024-04-3010777359ns5:RetainedEarningsAccumulatedLosses2023-04-3010777359ns5:RetainedEarningsAccumulatedLosses2023-05-012024-04-30
REGISTERED NUMBER: 10777359 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

THE OBSERVATORY SWF LTD

THE OBSERVATORY SWF LTD (REGISTERED NUMBER: 10777359)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE OBSERVATORY SWF LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: D Madoo





REGISTERED OFFICE: Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA





REGISTERED NUMBER: 10777359 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

THE OBSERVATORY SWF LTD (REGISTERED NUMBER: 10777359)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,700 11,600
Tangible assets 5 27,000 36,341
35,700 47,941

CURRENT ASSETS
Stocks 14,424 9,361
Debtors 6 32,249 26,681
Cash at bank and in hand 78,310 60,406
124,983 96,448
CREDITORS
Amounts falling due within one year 7 51,390 39,960
NET CURRENT ASSETS 73,593 56,488
TOTAL ASSETS LESS CURRENT
LIABILITIES

109,293

104,429

CREDITORS
Amounts falling due after more than one
year

8

32,187

47,535
NET ASSETS 77,106 56,894

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 77,006 56,794
SHAREHOLDERS' FUNDS 77,106 56,894

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 director acknowledges his 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 OBSERVATORY SWF LTD (REGISTERED NUMBER: 10777359)

BALANCE SHEET - continued
30 APRIL 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 January 2025 and were signed by:





D Madoo - Director


THE OBSERVATORY SWF LTD (REGISTERED NUMBER: 10777359)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

The Observatory SWF LTD is a private company, limited by shares , registered in England and Wales. The company's registered 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 received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten 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 provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Equipment - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

THE OBSERVATORY SWF LTD (REGISTERED NUMBER: 10777359)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 29,000
AMORTISATION
At 1 May 2023 17,400
Charge for year 2,900
At 30 April 2024 20,300
NET BOOK VALUE
At 30 April 2024 8,700
At 30 April 2023 11,600

THE OBSERVATORY SWF LTD (REGISTERED NUMBER: 10777359)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
Equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023
and 30 April 2024 50,284 5,333 30,695 3,329 89,641
DEPRECIATION
At 1 May 2023 41,172 1,692 7,674 2,762 53,300
Charge for year 2,278 910 5,755 398 9,341
At 30 April 2024 43,450 2,602 13,429 3,160 62,641
NET BOOK VALUE
At 30 April 2024 6,834 2,731 17,266 169 27,000
At 30 April 2023 9,112 3,641 23,021 567 36,341

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023
and 30 April 2024 30,695
DEPRECIATION
At 1 May 2023 7,674
Charge for year 5,755
At 30 April 2024 13,429
NET BOOK VALUE
At 30 April 2024 17,266
At 30 April 2023 23,021

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 26,186 17,301
Other debtors 2,500 2,500
VAT 3,089 6,120
Prepayments 474 760
32,249 26,681

THE OBSERVATORY SWF LTD (REGISTERED NUMBER: 10777359)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bounce back loan 9,188 8,952
Hire purchase contracts (see note 9) 6,147 6,147
Trade creditors 14,731 11,326
Tax 18,540 1,948
Social security and other taxes 416 452
Inter-company account 652 9,177
Directors' current accounts 41 308
Accrued expenses 1,675 1,650
51,390 39,960

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 10,210 19,412
Hire purchase contracts (see note 9) 21,977 28,123
32,187 47,535

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 7,719 7,719
Between one and five years 23,156 30,875
30,875 38,594

Finance charges repayable:
Within one year 1,572 1,572
Between one and five years 1,179 2,752
2,751 4,324

Net obligations repayable:
Within one year 6,147 6,147
Between one and five years 21,977 28,123
28,124 34,270

THE OBSERVATORY SWF LTD (REGISTERED NUMBER: 10777359)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 18,517 12,291
Between one and five years 39,735 29,054
In more than five years - 1,229
58,252 42,574

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bounce Back Loan 19,398 28,364

Other Loans, included above, consist of a Bounce Back Loan which the company drew down in May 2020. The loan is part of the Bounce Back Loan Scheme, and hence backed by a UK Government guarantee for the full amount outstanding.

11. CALLED UP SHARE CAPITAL

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

12. RESERVES
Retained
earnings
£   

At 1 May 2023 56,794
Profit for the year 55,212
Dividends (35,000 )
At 30 April 2024 77,006

13. RELATED PARTY DISCLOSURES

As at 30 April 2024, £652 (2023: £9,177) was owed to The Observatory (Leigh) Limited, a company also under common control.