SWN Accountancy Services Limited Filleted accounts for Companies House (small and micro)

SWN Accountancy Services Limited Filleted accounts for Companies House (small and micro)

SWN ACCOUNTANCY SERVICES LIMITED - Company Information

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1 false false false false false false false false false true false false false false false false No description of principal activity 2021-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 3,337 2,850 487 3,337 487 xbrli:pure xbrli:shares iso4217:GBP 07680781 2021-04-01 2022-03-31 07680781 2022-03-31 07680781 2021-03-31 07680781 2020-04-01 2021-03-31 07680781 2021-03-31 07680781 bus:Director1 2021-04-01 2022-03-31 07680781 core:WithinOneYear 2022-03-31 07680781 core:WithinOneYear 2021-03-31 07680781 core:AfterOneYear 2022-03-31 07680781 core:AfterOneYear 2021-03-31 07680781 core:ShareCapital 2022-03-31 07680781 core:ShareCapital 2021-03-31 07680781 core:RetainedEarningsAccumulatedLosses 2022-03-31 07680781 core:RetainedEarningsAccumulatedLosses 2021-03-31 07680781 bus:SmallEntities 2021-04-01 2022-03-31 07680781 bus:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 07680781 bus:FullAccounts 2021-04-01 2022-03-31 07680781 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 07680781 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 07680781 core:FurnitureFittingsToolsEquipment 2021-04-01 2022-03-31 07680781 core:FurnitureFittingsToolsEquipment 2022-03-31 07680781 core:FurnitureFittingsToolsEquipment 2021-03-31
COMPANY REGISTRATION NUMBER: 07680781
SWN Accountancy Services Limited
Filleted Unaudited Financial Statements
31 March 2022
SWN Accountancy Services Limited
Statement of Financial Position
31 March 2022
2022
2021
Note
£
£
£
Fixed assets
Tangible assets
5
–
487
Current assets
Debtors
6
67,252
103,576
Cash at bank and in hand
2
4,210
--------
---------
67,254
107,786
Creditors: amounts falling due within one year
7
( 27,726)
( 43,249)
--------
---------
Net current assets
39,528
64,537
--------
--------
Total assets less current liabilities
39,528
65,024
Creditors: amounts falling due after more than one year
8
( 24,072)
( 25,961)
--------
--------
Net assets
15,456
39,063
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
15,454
39,061
--------
--------
Shareholders funds
15,456
39,063
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2022 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SWN Accountancy Services Limited
Statement of Financial Position (continued)
31 March 2022
These financial statements were approved by the board of directors and authorised for issue on 31 March 2023 , and are signed on behalf of the board by:
Mr S W Norton
Director
Company registration number: 07680781
SWN Accountancy Services Limited
Notes to the Financial Statements
Year ended 31 March 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office and principal place of business is 36 Second Avenue, London, SW14 8QE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in accordance with applicable accounting standards. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue is recognised at the point at which the income has been received from the investment.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial assets Financial assets are recognised when the Company becomes a party to the contractual provisions of the financial instrument. The Company does not hold any third party financial assets. Loans and receivables Trade receivables and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are initially recognised at fair value and are subsequently measured using the effective interest method less provision for any impairment. Financial liabilities and equity instruments Financial liabilities and equity 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 company after deducting all of its liabilities. Other financial liabilities (including borrowing and trade and other payables) are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 April 2021 and 31 March 2022
3,337
3,337
-------
-------
Depreciation
At 1 April 2021
2,850
2,850
Charge for the year
487
487
-------
-------
At 31 March 2022
3,337
3,337
-------
-------
Carrying amount
At 31 March 2022
–
–
-------
-------
At 31 March 2021
487
487
-------
-------
6. Debtors
2022
2021
£
£
Other debtors
67,252
103,576
--------
---------
7. Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
3,818
2,885
Trade creditors
461
356
Corporation tax
20,751
31,647
Other creditors
2,696
8,361
--------
--------
27,726
43,249
--------
--------
8. Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
24,072
25,961
--------
--------
9. Other financial commitments
As at 31 March 2022 the company had no capital commitments or contracts for capital expenditure in place in the year (2021: £nil).
10. Director's advances, credits and guarantees
At the year end date the company was owed by the director £49,418 (2021 - £91,892) by way of a directors loan.
11. Related party transactions
No transactions were undertaken with related parties such as are required to be disclosed under FRS 102.