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Company Registration No. 10716785 (England and Wales)
SWAPMONEY LTD Unaudited accounts for the year ended 30 April 2024
SWAPMONEY LTD Unaudited accounts Contents
Page
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SWAPMONEY LTD Company Information for the year ended 30 April 2024
Directors
MR OLAMOBISI JOSEPH FAWEHINMI MR ABIODUN OKONO
Company Number
10716785 (England and Wales)
Registered Office
GROSVENOR HOUSE 11 ST PAUL'S SQUARE BIRMINGHAM WEST MIDLANDS B3 1RB UNITED KINGDOM
Accountants
NT&M UK LIMITED 37A PARK LANE MINWORTH SUTTON COLDFIELD WEST MIDLANDS B76 9BL
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SWAPMONEY LTD Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
4,982 
7,473 
Tangible assets
8,822 
3,474 
13,804 
10,947 
Current assets
Debtors
14,240 
- 
Cash at bank and in hand
72,725 
141,967 
86,965 
141,967 
Creditors: amounts falling due within one year
(58,404)
(105,303)
Net current assets
28,561 
36,664 
Total assets less current liabilities
42,365 
47,611 
Creditors: amounts falling due after more than one year
(16,917)
(23,917)
Net assets
25,448 
23,694 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
25,348 
23,594 
Shareholders' funds
25,448 
23,694 
For the year ending 30 April 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 29 January 2025 and were signed on its behalf by
MR ABIODUN OKONO Director Company Registration No. 10716785
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SWAPMONEY LTD Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
SWAPMONEY LTD is a private company, limited by shares, registered in England and Wales, registration number 10716785. The registered office is GROSVENOR HOUSE, 11 ST PAUL'S SQUARE, BIRMINGHAM, WEST MIDLANDS, B3 1RB, UNITED KINGDOM.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Employees
The average number of employees includes consultants, sub contractors, temporary, part time, full time and interim staff working for the company.
Cash
Includes £50,000 of cash held in the bank as deposit protection.
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:
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SWAPMONEY LTD Notes to the Accounts for the year ended 30 April 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 May 2023
25,220 
At 30 April 2024
25,220 
Amortisation
At 1 May 2023
17,747 
Charge for the year
2,491 
At 30 April 2024
20,238 
Net book value
At 30 April 2024
4,982 
At 30 April 2023
7,473 
The intangible assets represent website development costs. These have been capitalised. Depreciation method adopted is the straight line method over a useful life of 3 years.
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 May 2023
7,208 
Additions
6,331 
At 30 April 2024
13,539 
Depreciation
At 1 May 2023
3,734 
Charge for the year
983 
At 30 April 2024
4,717 
Net book value
At 30 April 2024
8,822 
At 30 April 2023
3,474 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due after more than one year
Trade debtors
14,240 
- 
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SWAPMONEY LTD Notes to the Accounts for the year ended 30 April 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Other creditors
- 
1,000 
Loans from directors
58,404 
56,946 
Accruals
- 
47,357 
58,404 
105,303 
Other creditors - Accountancy fees
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
16,917 
23,917 
Bounce Back Loan
9
Average number of employees
During the year the average number of employees was 14 (2023: 14).
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