Swilsonandsons Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11231341 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Swilsonandsons Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Steven Wilson

Nicola Patricia Wilson

REGISTERED OFFICE:

15 Lampits Hill

Corringham

SS17 9AA

REGISTERED NUMBER:

11231341 (England and Wales)

ACCOUNTANTS:

Robert Lewis Accountants

4 Capricorn Centre

Cranes Farm Road

Basildon

Essex

SS14 3JJ

FIXED ASSETS

Intangible assets

4

17,100

25,650

Tangible assets

5

1

253

17,101

25,903

CURRENT ASSETS

Debtors

6

14,282

10,018

CREDITORS

Amounts falling due within one year

7

41,057

43,757

NET CURRENT LIABILITIES

(26,775

)

(33,739

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(9,674

)

(7,836

)

CREDITORS

Amounts falling due after more than one year

8

(31,514

)

(15,327

)

PROVISIONS FOR LIABILITIES

-

(48

)

NET LIABILITIES

(41,188

)

(23,211

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(41,190

)

(23,213

)

SHAREHOLDERS' FUNDS

(41,188

)

(23,211

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 23 July 2021 and were signed on its behalf by:

Steven Wilson - Director

1.	STATUTORY INFORMATION

Swilsonandsons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 0, is being amortised evenly over its estimated useful life of nil 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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

42,750

AMORTISATION

At 1 April 2020

17,100

Charge for year

8,550

At 31 March 2021

25,650

NET BOOK VALUE

At 31 March 2021

17,100

At 31 March 2020

25,650

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

and 31 March 2021

757

DEPRECIATION

At 1 April 2020

504

Charge for year

252

At 31 March 2021

756

NET BOOK VALUE

At 31 March 2021

1

At 31 March 2020

253

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

3,029

-

Other debtors

11,253

10,018

14,282

10,018

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

16,023

16,091

Trade creditors

1

514

Taxation and social security

23,566

14,114

Other creditors

1,467

13,038

41,057

43,757

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans

31,514

15,327