IRIS Accounts Production v25.1.0.734 06114080 Board of Directors Board of Directors 1.8.23 31.7.24 31.7.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh061140802023-07-31061140802024-07-31061140802023-08-012024-07-31061140802022-07-31061140802022-08-012023-07-31061140802023-07-3106114080ns15:EnglandWales2023-08-012024-07-3106114080ns14:PoundSterling2023-08-012024-07-3106114080ns10:Director12023-08-012024-07-3106114080ns10:Director22023-08-012024-07-3106114080ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3106114080ns10:SmallEntities2023-08-012024-07-3106114080ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3106114080ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3106114080ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3106114080ns10:FullAccounts2023-08-012024-07-310611408012023-08-012024-07-3106114080ns10:CompanySecretary12023-08-012024-07-3106114080ns10:RegisteredOffice2023-08-012024-07-3106114080ns5:CurrentFinancialInstruments2024-07-3106114080ns5:CurrentFinancialInstruments2023-07-3106114080ns5:Non-currentFinancialInstruments2024-07-3106114080ns5:Non-currentFinancialInstruments2023-07-3106114080ns5:ShareCapital2024-07-3106114080ns5:ShareCapital2023-07-3106114080ns5:RetainedEarningsAccumulatedLosses2024-07-3106114080ns5:RetainedEarningsAccumulatedLosses2023-07-3106114080ns5:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-3106114080ns5:ComputerSoftware2023-08-012024-07-3106114080ns5:PlantMachinery2023-08-012024-07-3106114080ns5:IntangibleAssetsOtherThanGoodwill2023-07-3106114080ns5:IntangibleAssetsOtherThanGoodwill2024-07-3106114080ns5:IntangibleAssetsOtherThanGoodwill2023-07-3106114080ns5:PlantMachinery2023-07-3106114080ns5:PlantMachinery2024-07-3106114080ns5:PlantMachinery2023-07-3106114080ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-07-3106114080ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-08-012024-07-3106114080ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-07-3106114080ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-07-3106114080ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3106114080ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-31
REGISTERED NUMBER: 06114080 (England and Wales)

























Financial Statements

for the Year Ended 31 July 2024

for

Switchstone Limited

Switchstone Limited (Registered number: 06114080)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Switchstone Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: J M Elmes
Mrs A Elmes





SECRETARY: Mrs A Elmes





REGISTERED OFFICE: Unit 8 Leafield Industrial Estate
Leafield Way
Corsham
Wiltshire
SN13 9SW





REGISTERED NUMBER: 06114080 (England and Wales)





ACCOUNTANTS: Mander Duffill
Chartered Accountants
The Old Post Office
41-43 Market Place
Chippenham
Wiltshire
SN15 3HR

Switchstone Limited (Registered number: 06114080)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 2,886 5,772
Tangible assets 5 87,239 85,425
90,125 91,197

CURRENT ASSETS
Stocks 186,000 209,000
Debtors 6 679,937 162,125
Cash at bank 240,996 688,034
1,106,933 1,059,159
CREDITORS
Amounts falling due within one year 7 598,892 694,453
NET CURRENT ASSETS 508,041 364,706
TOTAL ASSETS LESS CURRENT
LIABILITIES

598,166

455,903

CREDITORS
Amounts falling due after more than one
year

8

(35,931

)

(58,463

)

PROVISIONS FOR LIABILITIES (26,950 ) (21,481 )
NET ASSETS 535,285 375,959

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 534,985 375,659
SHAREHOLDERS' FUNDS 535,285 375,959

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Switchstone Limited (Registered number: 06114080)

Balance Sheet - continued
31 July 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 Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:




J M Elmes - Director



Mrs A Elmes - Director


Switchstone Limited (Registered number: 06114080)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Switchstone Limited 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.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

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.
Plant and machinery etc - 25% on reducing balance, 25% on cost and 20% on reducing balance

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture or completion.

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.

Switchstone Limited (Registered number: 06114080)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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.

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 12 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2023
and 31 July 2024 14,430
AMORTISATION
At 1 August 2023 8,658
Charge for year 2,886
At 31 July 2024 11,544
NET BOOK VALUE
At 31 July 2024 2,886
At 31 July 2023 5,772

Switchstone Limited (Registered number: 06114080)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 193,694
Additions 52,043
Disposals (33,565 )
At 31 July 2024 212,172
DEPRECIATION
At 1 August 2023 108,269
Charge for year 31,349
Eliminated on disposal (14,685 )
At 31 July 2024 124,933
NET BOOK VALUE
At 31 July 2024 87,239
At 31 July 2023 85,425

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2023 71,337
Additions 37,999
Disposals (33,565 )
At 31 July 2024 75,771
DEPRECIATION
At 1 August 2023 31,210
Charge for year 14,812
Eliminated on disposal (14,685 )
At 31 July 2024 31,337
NET BOOK VALUE
At 31 July 2024 44,434
At 31 July 2023 40,127

Switchstone Limited (Registered number: 06114080)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 150,560 159,045
Amounts owed by group undertakings 513,295 -
Other debtors 16,082 3,080
679,937 162,125

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 369,018 425,410
Other creditors 229,874 269,043
598,892 694,453

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Other creditors 35,931 58,463