Swansea Fasteners & Engineering Supplies - Accounts to registrar (filleted)

REGISTERED NUMBER: 05863368 (England and Wales)

SWANSEA FASTENERS & ENGINEERING

SUPPLIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

48,000

78,000

Tangible assets

5

26,680

24,214

74,680

102,214

CURRENT ASSETS

Stocks

237,667

227,956

Debtors

6

86,603

125,144

Cash at bank and in hand

258,518

526,484

582,788

879,584

CREDITORS

Amounts falling due within one year

7

51,484

161,607

NET CURRENT ASSETS

531,304

717,977

TOTAL ASSETS LESS CURRENT
LIABILITIES

605,984

820,191

CAPITAL AND RESERVES

Called up share capital

8

1,000

Retained earnings

604,984

819,191

SHAREHOLDERS' FUNDS

605,984

820,191

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2025 and were signed on its behalf by:

P M D Osborne - Director

1.	STATUTORY INFORMATION

Swansea Fasteners & Engineering Supplies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05863368

Registered office:

Unit 8 Horizon Park

Valley Way

Enterprise Park

Swansea

West Glamorgan

SA6 8RG

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Website

-

20% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

600,000

AMORTISATION

At 1 April 2024

522,000

Amortisation for year

30,000

At 31 March 2025

552,000

NET BOOK VALUE

At 31 March 2025

48,000

At 31 March 2024

78,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

Website

fittings

vehicles

equipment

Totals

£

COST

At 1 April 2024

19,795

10,594

46,624

48,905

125,918

Additions

-

13,204

Disposals

-

(6,176

)

(6,176

)

At 31 March 2025

19,795

10,594

46,624

55,933

132,946

DEPRECIATION

At 1 April 2024

19,792

10,583

23,816

47,513

101,704

Charge for year

-

7,637

3,099

10,736

Eliminated on disposal

-

(6,174

)

(6,174

)

At 31 March 2025

19,792

10,583

31,453

44,438

106,266

NET BOOK VALUE

At 31 March 2025

3

11

15,171

11,495

26,680

At 31 March 2024

3

11

22,808

1,392

24,214

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

72,086

119,392

Other debtors

14,517

5,752

86,603

125,144

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Payments on account

84

172

Trade creditors

27,461

47,132

Tax

(27,880

)

27,863

Social security and other taxes

7,720

6,274

VAT

15,221

22,995

NEST pension contributions

1,523

1,422

Directors' current accounts

-

28,755

Accrued expenses

27,355

26,994

51,484

161,607

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

1,000

Ordinary

£1

1,000

9.	RELATED PARTY DISCLOSURES

The company is under the control of the directors who own 100% of the issued share capital.