Sword Achiever Limited - Period Ending 2021-12-31

Sword Achiever Limited

Contents

Company Information	1
Statement of Financial Position	2
Notes to the Financial Statements	3 to 5

Sword Achiever Limited

Company Information

Directors

J F Mottard F Goosse

Registered office

1 Grenfell Road Maidenhead Berkshire SL6 1HN

Auditor

Brebners 130 Shaftesbury Avenue London W1D 5AR

Sword Achiever Limited

Statement of Financial Position as at 31 December 2021

	Note	2021 £	2020 £
Current assets
Debtors	7	968,956	968,956
Capital and reserves
Called up share capital		1,056	1,056
Share premium reserve		44,394	44,394
Profit and loss account		923,506	923,506
Total equity		968,956	968,956

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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 6 April 2022 and signed on its behalf by:
 

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

J F Mottard

Director

Company registration number: 07910545

Sword Achiever Limited

Notes to the Financial Statements for the Year Ended 31 December 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:
1 Grenfell Road
Maidenhead
Berkshire
SL6 1HN
United Kingdom

On 1 January 2020 the company transferred at their book value its trade, assets and liabilities to another group company and from that date became dormant.

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 were prepared in accordance with Financial Reporting Standard 102 '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 except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Going concern

The company is no longer trading following the transfer at book value of its’ trade, assets and liabilities to Sword GRC Limited on 1 January 2020. The directors have therefore not adopted the going concern basis of preparation for these financial statements. As the transfer took place at book value, no consequential adjustments to the financial statements arose.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Judgements and estimates that management has made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements.

Sword Achiever Limited

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains and losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3	Audit Report

The Independent Auditor's Report was unqualified. We draw attention to Note 2 of the financial statements which explains that the company transferred its trade, assets and liabilities to a group company on 1 January 2020, and the going concern basis of preparation has therefore not been adopted for these financial statements. The financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter. The name of the Senior Statutory Auditor who signed the audit report on 6 April 2022 was Darren Bond, who signed for and on behalf of Brebners.

Sword Achiever Limited

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

4	Staff numbers

The average number of persons employed by the company during the year, was 0 (2020 - 0).

5	Auditors' remuneration

Auditors' remuneration was met by a group undertaking.

6

Taxation

Tax charged in the statement of income

	2021 £	2020 £
Current taxation
UK corporation tax adjustment to prior periods	-	(2,129)

7

Debtors

	2021 £	2020 £
Amounts owed by group undertakings	968,956	968,956
	968,956	968,956

8	Related party transactions

In accordance with FRS 102 paragraph 1AC.35, exemption is taken not to disclose transactions in the year between wholly owned group undertakings.
 

9	Controlling Party

The company's immediate parent undertaking is Sword GRC Group Limited.

The ultimate controlling party is Sword Group SE whom the directors consider the ultimate parent undertaking. The head office of Sword Group SE is located at Luxembourg, Route d'Arlon 2-4, L-8399 Windhof.

Group accounts are prepared by Sword Group SE including the results of Sword Achiever Limited. This is the largest and smallest group preparing group accounts.

On 26 February 2022, the ultimate controlling party for Sword GRC Group changed to Riskonnect Parent, LLC whose registered office is 1701 Barrett Lakes Blvd, Suite 500, Kennesaw, GA 30144, USA.