Company Registration No. 09042283 (England and Wales)
Security And Wealth Financial Recoveries Limited
Unaudited accounts
for the year ended 31 October 2024
Security And Wealth Financial Recoveries Limited
Unaudited accounts
Contents
Security And Wealth Financial Recoveries Limited
Company Information
for the year ended 31 October 2024
Director
Deborah Ann Woolley
Company Number
09042283 (England and Wales)
Registered Office
13 Hartshill Road
Stoke-on-Trent
Staffordshire
ST4 7QT
England
Accountants
The Financial Management Centre
The Meads Business Centre
19 Kingsmead
Farnborough
Surrey
GU14 7SR
Security And Wealth Financial Recoveries Limited
Statement of financial position
as at 31 October 2024
Cash at bank and in hand
13,318
36,551
Creditors: amounts falling due within one year
(41,059)
(101,472)
Net current (liabilities)/assets
(9,895)
50,163
Net (liabilities)/assets
(9,314)
52,166
Called up share capital
1
1
Profit and loss account
(9,315)
52,165
Shareholders' funds
(9,314)
52,166
For the year ending 31 October 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 October 2025 and were signed on its behalf by
Deborah Ann Woolley
Director
Company Registration No. 09042283
Security And Wealth Financial Recoveries Limited
Notes to the Accounts
for the year ended 31 October 2024
Security And Wealth Financial Recoveries Limited is a private company, limited by shares, registered in England and Wales, registration number 09042283. The registered office is 13 Hartshill Road, Stoke-on-Trent, Staffordshire, ST4 7QT, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The accounts are presented in £ sterling.
The financial statements have been prepared on a going concern basis.
Turnover is measured at 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.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% straight line
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.
Security And Wealth Financial Recoveries Limited
Notes to the Accounts
for the year ended 31 October 2024
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 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.
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.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Security And Wealth Financial Recoveries Limited
Notes to the Accounts
for the year ended 31 October 2024
4
Tangible fixed assets
Fixtures & fittings
Amounts falling due within one year
Other debtors
2,604
12,255
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
20,205
127,981
Taxes and social security
804
55,360
Loans from directors
17,018
-
7
Average number of employees
During the year the average number of employees was 3 (2023: 4).