Registration number:
SWM Management Limited
for the Year Ended 30 November 2024
SWM Management Limited
(Registration number: 11151052)
Balance Sheet as at 30 November 2024
Note |
2024 |
(As restated) |
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Retained earnings |
|
|
|
Shareholders' funds |
|
|
For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
......................................... |
SWM Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
SWM Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
Prior period errors
The accounts have been restated to incorporate the impact of correcting dividend distribution to it's shareholders. The adjustment needed was DR Directors Current Account £13,000, CR Dividend paid £13,000.
The accounts have been restated to incorporate the impact of additional share capital issued to it's shareholders. The adjustment needed was DR Directors Current Account £21.00, DR Other Debtors £3.00, CR Called Up Share Capital £24.00.
Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. |
Revenue recognition
Turnover is calculated from management charges receivable during the course of the year based on an accruals basis.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Debtors |
Current |
2024 |
(As restated) |
Other debtors |
|
|
SWM Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
(As restated) |
|
Due within one year |
||
Other creditors |
|
|