Registered number
07754100
SWAYAM GLOBAL LIMITED
Filleted Accounts
31 August 2024
SWAYAM GLOBAL LIMITED
Registered number: 07754100
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 34,167 30,416
Current assets
Stocks 785,812 722,251
Cash at bank and in hand 1,029 1,029
786,841 723,280
Creditors: amounts falling due within one year 4 (788,070) (714,536)
Net current (liabilities)/assets (1,229) 8,744
Net assets 32,938 39,160
Capital and reserves
Called up share capital 100 100
Profit and loss account 32,838 39,060
Shareholder's funds 32,938 39,160
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 member has 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.
Parikshit Mehta
Director
Approved by the board on 13 August 2025
SWAYAM GLOBAL LIMITED
Notes to the Accounts
for the year ended 31 August 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:
Plant and machinery 25% reducing balance
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.
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 5 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 September 2023 5,700 44,812 50,512
Additions - 10,000 10,000
At 31 August 2024 5,700 54,812 60,512
Depreciation
At 1 September 2023 - 20,096 20,096
Charge for the year - 6,249 6,249
At 31 August 2024 - 26,345 26,345
Net book value
At 31 August 2024 5,700 28,467 34,167
At 31 August 2023 5,700 24,716 30,416
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 50,907 57,362
Trade creditors 367,881 336,007
Corporation tax 7,668 7,662
Other taxes and social security costs 48,228 38,895
Other creditors 313,386 274,610
788,070 714,536
5 Other information
SWAYAM GLOBAL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Sinckot House
211, Station Road
Harrow
Middlesex
HA1 2TP
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