S W Quality Services Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

(Registration number: 04787747)
Balance Sheet as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	-	2,781
Current assets
Debtors	5	3,525	17,588
Cash at bank and in hand		13,111	29,497
		16,636	47,085
Creditors: Amounts falling due within one year	6	(16,536)	(15,432)
Net current assets		100	31,653
Total assets less current liabilities		100	34,434
Provisions for liabilities		-	(528)
Net assets		100	33,906
Capital and reserves
Called up share capital	7	100	100
Retained earnings		-	33,806
Shareholders' funds		100	33,906

S W Quality Services Limited

(Registration number: 04787747)
Balance Sheet as at 31 July 2025

For the financial period ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and 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 Profit and Loss Account.

Approved and authorised for issue by the Board on 22 September 2025 and signed on its behalf by:

Mrs A M Winfield
Director

Mr S P Winfield
Director

S W Quality Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 July 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
27 Garden Green
BARNSTAPLE
Devon
EX32 9FP
United Kingdom

These financial statements were authorised for issue by the Board on 22 September 2025.

2	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.

Going concern

The directors have made the decision to cease trading effective from 31 July 2025, therefore the accounts have not been prepared on a going concern basis.

S W Quality Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 July 2025

Judgements

There are no judgements which management have made in the process of applying the accounting policies.

Key sources of estimation uncertainty

There are no key sources of estimation uncertainty that have a significant risk of causing a material adjustment to assets and liabilities to be disclosed..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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 current and deferred 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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

S W Quality Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 July 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	10% reducing balance basis
Office equipment	25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors 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 trade debtors 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.

Trade creditors

Trade creditors 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.

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

S W Quality Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 July 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

S W Quality Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 July 2025

Financial instruments

Classification
Basic ﬁnancial assets include trade and other debtors, cash and bank balances. Basic ﬁnancial liabilities include trade and other payables, bank loans and preference shares that are classiﬁed as debt.
Recognition and measurement
Basic financial assets are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method. Other debtors are classified as current assets if payment is due within one year or less and are initially recorded at transaction price and subsequently measured at the undiscounted amount of the cash expected to be received. Trade debtors are referred to above.

Basic financial liabilities 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. 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. Other creditors are classiﬁed as current liabilities if payment is due within one year or less and are recognised initially at transaction price and subsequently measured at the undiscounted amount of the cash expected to be paid. If not, they are presented as non-current liabilities and are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Trade creditors and leases are referred to above.
Impairment
At the end of each reporting period ﬁnancial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash ﬂows discounted at the asset’s original effective interest rate. The impairment loss is recognised in proﬁt or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in proﬁt or loss.

3	Staff numbers

The average number of persons employed by the company (including directors under service contract) during the period, was 2 (2024 - 2).

S W Quality Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 July 2025

4	Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2024

2,502

3,372

5,874

Disposals

(2,502)

(3,372)

(5,874)

At 31 July 2025

-

-

-

Depreciation

At 1 April 2024

655

2,438

3,093

Charge for the period

240

290

530

Eliminated on disposal

(895)

(2,728)

(3,623)

At 31 July 2025

-

-

-

Carrying amount

At 31 July 2025

-

-

-

At 31 March 2024

1,847

934

2,781

5

Debtors

Current

2025
£

2024
£

Trade debtors

3,525

17,588

3,525

17,588

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	2,253	4,892
Taxation and social security		458	8,075
Accruals and deferred income		13,825	2,465
		16,536	15,432

S W Quality Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 July 2025

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
100 Ordinary shares of £1 each	100	100	100	100

8	Loans and borrowings

2025
£

2024
£

Current loans and borrowings

Loans from related parties

2,253

4,892

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	-	845

The amount of non-cancellable operating lease payments recognised as an expense during the period was £Nil (2024 - £845).

	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 April 2024	2,502	3,372	5,874
Disposals	(2,502)	(3,372)	(5,874)
At 31 July 2025	-	-	-
Depreciation
At 1 April 2024	655	2,438	3,093
Charge for the period	240	290	530
Eliminated on disposal	(895)	(2,728)	(3,623)
At 31 July 2025	-	-	-
Carrying amount
At 31 July 2025	-	-	-
At 31 March 2024	1,847	934	2,781

	2025 £	2024 £
Current loans and borrowings
Loans from related parties	2,253	4,892