Company registration number 10384994 (England and Wales)
SSWL INVESTMENTS LIMITED
(FORMERLY SIMON CHARLES AUTIONEERS & VALUERS MIDLANDS LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SSWL INVESTMENTS LIMITED
(FORMERLY SIMON CHARLES AUTIONEERS & VALUERS MIDLANDS LIMITED)
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SSWL INVESTMENTS LIMITED
(FORMERLY SIMON CHARLES AUTIONEERS & VALUERS MIDLANDS LIMITED)
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,805
4,997
Investment property
4
708,473
708,473
714,278
713,470
Current assets
Debtors
5
2
2
Cash at bank and in hand
33,583
14,059
33,585
14,061
Creditors: amounts falling due within one year
6
(392,570)
(447,939)
Net current liabilities
(358,985)
(433,878)
Total assets less current liabilities
355,293
279,592
Provisions for liabilities
(2,147)
(1,250)
Net assets
353,146
278,342
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
353,144
278,340
Total equity
353,146
278,342
SSWL INVESTMENTS LIMITED
(FORMERLY SIMON CHARLES AUTIONEERS & VALUERS MIDLANDS LIMITED)
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 18 August 2025
S D Rothwell
Director
Company registration number 10384994 (England and Wales)
SSWL INVESTMENTS LIMITED
(FORMERLY SIMON CHARLES AUTIONEERS & VALUERS MIDLANDS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

SSWL Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 14 Latham Close, Bredbury Park Industrial Estate, Bredbury, Stockport, SK6 2SD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company is reliant upon the financial support of an associated company in order to meet its liabilities as they fall due. The director has indicated that this support will continue for the foreseeable future and, as a result, has continued to adopt the going concern basis in preparing the financial statementstrue.

1.3
Turnover

Turnover represents amounts receivable for goods and services net of trade discounts and VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% Reducing balance
Computers
15% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

SSWL INVESTMENTS LIMITED
(FORMERLY SIMON CHARLES AUTIONEERS & VALUERS MIDLANDS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

SSWL INVESTMENTS LIMITED
(FORMERLY SIMON CHARLES AUTIONEERS & VALUERS MIDLANDS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 January 2024
8,637
-
0
8,637
Additions
-
0
1,598
1,598
At 31 December 2024
8,637
1,598
10,235
Depreciation and impairment
At 1 January 2024
3,640
-
0
3,640
Depreciation charged in the year
750
40
790
At 31 December 2024
4,390
40
4,430
Carrying amount
At 31 December 2024
4,247
1,558
5,805
At 31 December 2023
4,997
-
0
4,997
4
Investment property
2024
£
Fair value
At 1 January 2024 and 31 December 2024
708,473

Investment property comprises commercial properties at Latham Close, Stockport, Cheshire. The purchase prices of the investment properties and subsequent cost of improvements and alterations are deemed to represent their fair value at the financial year end and in the opinion of the director there has been no material impairment since the date of acquisition.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Unpaid share capital
2
2
SSWL INVESTMENTS LIMITED
(FORMERLY SIMON CHARLES AUTIONEERS & VALUERS MIDLANDS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
24,743
26,702
Other creditors
366,177
419,587
Accruals and deferred income
1,650
1,650
392,570
447,939

Other creditors includes an amount in the sum of £366,177 (2023: £419,587) owed to connected companies which is held on a loan account.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of £1 each
2
2
2
2
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