Registered number
12064598
SBW GROUP LTD
Filleted Accounts
30 June 2024
SBW GROUP LTD
Registered number: 12064598
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 270 270
Tangible assets 4 17,246 12,466
17,516 12,736
Current assets
Stocks 76,013 98,249
Debtors 5 665,474 45,227
Cash at bank and in hand 101 275
741,588 143,751
Creditors: amounts falling due within one year 6 (678,335) (78,631)
Net current assets 63,253 65,120
Total assets less current liabilities 80,769 77,856
Creditors: amounts falling due after more than one year 7 (25,059) (21,516)
Provisions for liabilities (1,645) (2,547)
Net assets 54,065 53,793
Capital and reserves
Called up share capital 100 100
Profit and loss account 53,965 53,693
Shareholders' funds 54,065 53,793
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr David Paraianu
Director
Approved by the board on 17 March 2025
SBW GROUP LTD
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Intangible fixed assets £
Trademark:
Cost
At 1 July 2023 270
At 30 June 2024 270
Amortisation
At 30 June 2024 -
Net book value
At 30 June 2024 270
At 30 June 2023 270
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 30,478
Additions 12,750
At 30 June 2024 43,228
Depreciation
At 1 July 2023 18,012
Charge for the year 7,970
At 30 June 2024 25,982
Net book value
At 30 June 2024 17,246
At 30 June 2023 12,466
5 Debtors 2024 2023
£ £
Trade debtors 665,474 44,727
Other debtors - 500
665,474 45,227
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 21,897 25,526
Trade creditors 1,541 1
Taxation and social security costs (207) 36,942
Other creditors 655,104 16,162
678,335 78,631
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 25,059 21,516
8 Other information
SBW GROUP LTD is a private company limited by shares and incorporated in England. Its registered office is:
Silverstream House
4th Floor, 45 Fitzroy Street
London
W1T 6EB
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