SWANWELL PROPERTY LIMITED - Accounts to registrar (filleted) - small 18.2
SWANWELL PROPERTY LIMITED - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2019 |
| for |
| SWANWELL PROPERTY LIMITED |
| SWANWELL PROPERTY LIMITED (Registered number: 03959191) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| SWANWELL PROPERTY LIMITED |
| Company Information |
| for the Year Ended 31 March 2019 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 4 Quex Road |
| London |
| NW6 4PJ |
| SWANWELL PROPERTY LIMITED (Registered number: 03959191) |
| Balance Sheet |
| 31 March 2019 |
| 31.3.19 | 31.3.18 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 3 |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Fair value reserve | 9 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| 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. |
| SWANWELL PROPERTY LIMITED (Registered number: 03959191) |
| Balance Sheet - continued |
| 31 March 2019 |
| 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 on by: |
| SWANWELL PROPERTY LIMITED (Registered number: 03959191) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2019 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents income from property in the United Kingdom and excludes sales of goods. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business is being amortised evenly over |
| its estimated useful life of 25 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 |
| No amortisation has been provided on the company's freehold investment property, which has been included in |
| the accounts as cost. |
| Other fixed assets are stated at cost less depreciation. |
| Depreciation is provided so as to write off the cost of fixed assets less their estimated residual value over their |
| anticipated useful lives:- |
| Motor vehicles - 25% reducing balance basis |
| Fixtures, fittings & equipment -25% reducing balance basis |
| Stock |
| Stock of oriental carpets is valued by the directors at the lower of cost (including duties and carriage) and net |
| realisable value. |
| 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. |
| 2. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2018 - |
| SWANWELL PROPERTY LIMITED (Registered number: 03959191) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2019 |
| 3. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 April 2018 |
| and 31 March 2019 |
| AMORTISATION |
| At 1 April 2018 |
| Charge for year |
| At 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold |
| properties |
| (at cost | Fixtures, |
| including | Leasehold | fittings | Motor |
| improvement) | office | & equipment | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| Revaluations | ( |
) | ( |
) |
| At 31 March 2019 |
| DEPRECIATION |
| At 1 April 2018 |
| Charge for year |
| At 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| Cost or valuation at 31 March 2019 is represented by: |
| Freehold |
| properties |
| (at cost | Fixtures, |
| including | Leasehold | fittings | Motor |
| improvement) | office | & equipment | vehicles | Totals |
| £ | £ | £ | £ | £ |
| Valuation in 2019 | 1,853,294 | - | - | - | 1,853,294 |
| Cost | 4,081,706 | 10,000 | 73,805 | 13,000 | 4,178,511 |
| 5,935,000 | 10,000 | 73,805 | 13,000 | 6,031,805 |
| SWANWELL PROPERTY LIMITED (Registered number: 03959191) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2019 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| The freehold investment properties were revalued at 31st March 2019 by the company's directors on an open |
| market value basis for existing use. If this property was not included at valuation, this would be included under |
| the historical cost convention at the original cost of £4,081,706 (2018: £4,170,337). |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.19 | 31.3.18 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.19 | 31.3.18 |
| £ | £ |
| Trade creditors |
| Bank loans (secured) | - | 7,798 |
| Taxes & social security |
| Other creditors including rent |
| received in advance |
| Accrued charges |
| Directors' current account | 3,552 | 4,552 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.19 | 31.3.18 |
| £ | £ |
| Loans |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.19 | 31.3.18 |
| value: | £ | £ |
| Ordinary | £1 | 10,000 | 10,000 |
| 9. | RESERVES |
| Fair value reserve | Profit and loss account |
| £ | £ |
| Balance at 1 April 2018 | 1,858,663 | 461,445 |
| Profit for the year | - | 124,395 |
| Fair value reserve | (5,369 | ) | - |
| Dividends | - | (10,000 |
| Balance at 31 March 2019 | 1,853,294 | 575,840 |