Swansea Business Improvements Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05893941

Swansea Business Improvements Ltd

Company Limited by Guarantee

Filleted Unaudited Financial Statements

31 March 2025

Swansea Business Improvements Ltd

Company Limited by Guarantee

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		2,440	2,720

Current assets

Debtors	7	40,519	21,897
Cash at bank and in hand		61,792	125,268
		---------	---------
		102,311	147,165

Creditors: amounts falling due within one year	8	87,429		120,965
		---------		---------
Net current assets			14,882	26,200
			--------	--------
Total assets less current liabilities			17,322	28,920
			--------	--------
Net assets			17,322	28,920
			--------	--------

Capital and reserves

Profit and loss account	17,322	28,920
	--------	--------
Members funds	17,322	28,920
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Swansea Business Improvements Ltd

Company Limited by Guarantee

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 9 October 2025 , and are signed on behalf of the board by:

Mr P A Lynn	Mr MP Clements
Director	Director

Company registration number: 05893941

Swansea Business Improvements Ltd

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 1 Picton Lane, Swansea, SA1 4AF.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the Bid Levy and contributions towards projects received, stated net of discounts and of Value Added Tax.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	25% straight line
Office Equipment	-	30% reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instrumemts. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Company limited by guarantee

Swansea Business Improvements Limited is a company limited by guarantee and has no share capital. On winding up of the company, the members have undertaken to contribute up to £1 each to towards any deficit.

5. Employee numbers

The average number of persons employed by the company during the year amounted to 16 (2024: 17 ).

6. Tangible assets

	Plant and machinery	Equipment	Total
	£	£	£
Cost
At 1 April 2024	11,000	8,852	19,852
Additions	–	1,147	1,147
Disposals	–	( 1,634)	( 1,634)
	--------	-------	--------
At 31 March 2025	11,000	8,365	19,365
	--------	-------	--------
Depreciation
At 1 April 2024	11,000	6,132	17,132
Charge for the year	–	1,046	1,046
Disposals	–	( 1,253)	( 1,253)
	--------	-------	--------
At 31 March 2025	11,000	5,925	16,925
	--------	-------	--------
Carrying amount
At 31 March 2025	–	2,440	2,440
	--------	-------	--------
At 31 March 2024	–	2,720	2,720
	--------	-------	--------

7. Debtors

	2025	2024
	£	£
Trade debtors	–	7,167
Other debtors	40,519	14,730
	--------	--------
	40,519	21,897
	--------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	416	343
Trade creditors	84,600	116,691
Social security and other taxes	1,586	2,938
Other creditors	827	993
	--------	---------
	87,429	120,965
	--------	---------