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Registration number: 04727315

Swedish Church Services Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2024

 

Swedish Church Services Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 7

 

Swedish Church Services Limited

Company Information

Directors



 

P A Jonsson

M Christopherson

H Wilhelmsson

Registered office


 

6 Harcourt Street
London
W1H 4AG

Independent Auditors

Shaw Gibbs (Audit) Limited
Statutory Auditor
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

Swedish Church Services Limited

(Registration number: 04727315)
Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Current assets

 

Inventories

5

1,500

4,126

Receivables

6

15,578

18,636

Cash at bank and in hand

 

110,037

72,442

 

127,115

95,204

Payables: Amounts falling due within one year

8

(35,084)

(25,324)

Net assets

 

92,031

69,880

Equity

 

Called up share capital

9

100

100

Retained earnings

91,931

69,780

Shareholder's funds

 

92,031

69,880

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.

Approved and authorised by the Board on 18 May 2025 and signed on its behalf by:
 

.........................................

P A Jonsson
Director

 

Swedish Church Services Limited

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

1

General information

Swedish Church Services Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1.

2

Accounting policies

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.

Going concern

The directors have considered the company’s financial position, liquidity and future performance together with financial projections for the company over the foreseeable future and have also reviewed the ongoing committed financial support from the company's parent undertaking and are confident that this will be available for the foreseeable future. After making enquiries, the directors are satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The functional currency of the company is considered to be pounds sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pounds sterling (£).

Summary of disclosure exemptions

The company meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its separate financial statements. The company is consolidated in the financial statements of its parent, The Swedish Church in London. Exemptions have been taken in these separate company financial statements in relation to financial instruments, presentation of a cash flow statement, transactions with group entities and remuneration of key management personnel.

 

Swedish Church Services Limited

Notes to the Financial Statements
for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

There are no critical judgements made by the directors in the process of applying the company’s accounting policies which have the most significant effect on the amounts recognised in the financial statements.

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities.

Tax

The tax expense for the period comprises current 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 income 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and subject to an insignificant risk of change in
value.

Receivables

Receivables are recognised initially at the transaction price. They are subsequently measured at
amortised cost using the effective interest method, less provision for impairment. A provision for the
impairment of receivable is established when there is objective evidence that the Company will not be
able to collect all amounts due according to the original terms of the receivables.

Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to sell. Cost is determined using the first-in, first-out (FIFO) method.

Payables

Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Swedish Church Services Limited

Notes to the Financial Statements
for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Taxation

Tax charged/(credited) in the income statement

2024
£

2023
£

Current taxation

UK corporation tax adjustment to prior periods

-

3,615

5

Inventories

2024
£

2023
£

Finished goods and goods for resale

1,500

4,126

6

Receivables

Note

2024
£

2023
£

Trade receivables

 

15,578

15,632

Amounts owed by parent undertaking

10

-

3,004

 

15,578

18,636

Amount owed by parent undertaking disclosed as falling within one year is unsecured, payable on demand and non-interest bearing.

7

Cash and cash equivalents

2024
£

2023
£

Cash at bank

110,037

72,442

 

Swedish Church Services Limited

Notes to the Financial Statements
for the Year Ended 31 December 2024 (continued)

8

Payables

Note

2024
£

2023
£

Due within one year

 

Trade payables

 

740

7,867

Amounts due to parent undertaking

10

11,897

-

Social security and other taxes

 

19,747

15,057

Accruals

 

2,700

2,400

 

35,084

25,324

Amount owed to parent undertaking disclosed as falling within one year is unsecured, payable on demand and is non-interest bearing.

9

Share capital and reserves

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

The company has one class of share capital which carries no right to fixed income.

Reserves

The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.

10

Related party transactions

The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of paragraph 1AC.35 of FRS 102 - Small Entities the not to disclose transactions with entities that are wholly owned members of the the group.

11

Parent and ultimate undertaking

The company's immediate parent is The Swedish Church in London, incorporated in England & Wales.

 

Swedish Church Services Limited

Notes to the Financial Statements
for the Year Ended 31 December 2024 (continued)

12

Events after the financial period

There have been no significant events between the year end and the date of approval of these financial statements which would require a change to, or disclosure in, the financial statements.

13

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 18 May 2025 was Ransford Agyei-Boamah, who signed for and on behalf of Shaw Gibbs (Audit) Limited.