SHW Events Limited - Period Ending 2021-03-31

SHW Events Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 4

SHW Events Limited

(Registration number: 06803721)
Balance Sheet as at 31 March 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	4	1,316	691
Current assets
Debtors	5	433	352
Cash at bank and in hand		1,544	4,048
		1,977	4,400
Creditors: Amounts falling due within one year	6	(2,180)	(2,461)
Net current (liabilities)/assets		(203)	1,939
Net assets		1,113	2,630
Capital and reserves
Called up share capital		1,000	1,000
Profit and loss account		113	1,630
Total equity		1,113	2,630

For the financial year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 15 November 2021
 

.........................................

Mr IN Wilson

Director

SHW Events Limited

Notes to the Financial Statements for the Year Ended 31 March 2021

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 7 Springvale Business Centre
Millbuck Way
Sandbach
Cheshire
CW11 3HY
UK

These financial statements were authorised for issue by the director on 15 November 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention. These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the directors. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

SHW Events Limited

Notes to the Financial Statements for the Year Ended 31 March 2021

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance basis
Office equipment	20% reducing balance basis

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 1).

SHW Events Limited

Notes to the Financial Statements for the Year Ended 31 March 2021

4	Tangible assets

	Fixtures and fittings £	Other tangible assets  £	Total £
Cost or valuation
At 1 April 2020	2,190	3,006	5,196
Additions	923	-	923
At 31 March 2021	3,113	3,006	6,119
Depreciation
At 1 April 2020	2,002	2,503	4,505
Charge for the year	223	75	298
At 31 March 2021	2,225	2,578	4,803
Carrying amount
At 31 March 2021	888	428	1,316
At 31 March 2020	188	503	691

5

Debtors

	2021 £	2020 £
Other debtors	433	352
	433	352

6

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Trade creditors	60	391
Other creditors	2,120	2,070
	2,180	2,461