SWLC Performance Limited

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—5

Registered number: 04148866

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		58,588		63,361

			58,588		63,361
CURRENT ASSETS
Stocks		283,121		319,902
Debtors		78,636		42,821
Cash at bank and in hand		1,748		3,187

		363,505		365,910
Creditors: Amounts Falling Due Within One Year		(227,037 )		(227,473 )

NET CURRENT ASSETS (LIABILITIES)			136,468		138,437

TOTAL ASSETS LESS CURRENT LIABILITIES			195,056		201,798

Creditors: Amounts Falling Due After More Than One Year			(250 )		(3,250 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(7,705 )		(8,400 )

NET ASSETS			187,101		190,148

CAPITAL AND RESERVES
Called up share capital	6		20		20
Profit and Loss Account			187,081		190,128

SHAREHOLDERS' FUNDS			187,101		190,148

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SWLC Performance Limited

Abridged Balance Sheet (continued)

As At 28 February 2025

For the year ending 28 February 2025 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 directors acknowledge their 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 28 February 2025 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

James Webb

Director

28/11/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

SWLC Performance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04148866 . The registered office is Unit H, Tinhay Industrial Estate, Tinhay, Lifton, Devon, PL16 0AH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from sale of goods is recognised when all the following conditions are satisfied:

the company has transferred to the buyer the significant risks and reward of ownership fo the goods;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the economic benefits associated with the transaction will flow to the Company; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% reducing balance

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, whcih comprise direct production costs, are based ont eh method most appropriate to the type of inventory class, but usually on a first in first out basis. Overheads are charged to profit and loss as incurred. Net realisable value is based on the esimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write down of stocks to their net realisable value and all losses of stocks are recognised as an expense in the period in which the write down or loss occurs. The amount of any reversal of any write down of stocks is recognised as a reduction in the amount of inventory recognised as an expense in ther period in which the reversal occurs.

Work in progress is reflected int he accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.

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SWLC Performance Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 28 February 2025

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.7. Taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2024: 9)

4. Tangible Assets

	Total
	£
Cost
As at 1 March 2024	246,151
Additions	13,335

As at 28 February 2025	259,486

Depreciation
As at 1 March 2024	182,790
Provided during the period	18,108

As at 28 February 2025	200,898

Net Book Value
As at 28 February 2025	58,588

As at 1 March 2024	63,361

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SWLC Performance Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 28 February 2025

5. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	3,000	3,000
Later than one year and not later than five years	250	3,250

	3,250	6,250

	3,250	6,250

6. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	20	20

7. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

Mr J Webb - £25,456 owed to the company. The maximum overdrawn balance in the year was £59,846. Interest on the loan was charged in the year of £1,720 at 2.25%. The loan was repaid in full on 6 April 2025.

8. Related Party Transactions

During the year rent of £21,000 (2024 - £21,000) was paid to a partnership in which the directors are also partners.

During the year rent of £8,457 (2024 - £12,000) was paid to Mr P Webb and Mrs K Webb for usage of buildings.

All transactions took place at arms length.

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