SRW Investments Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 02338584 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2023

for

SRW Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Chatt

Mrs A J Chatt

Miss R J Mudd

REGISTERED OFFICE:

Unit 4 Harbour Way

Shoreham Beach

Shoreham By Sea

West Sussex

BN43 5HZ

REGISTERED NUMBER:

02338584 (England and Wales)

ACCOUNTANTS:

Reeves Wilkinson Limited trading as Botting & Co

Chartered Certified Accountants

41b Beach Road

Littlehampton

West Sussex

BN17 5JA

FIXED ASSETS

Tangible assets

4

760,474

772,496

Investments

5

1

1

760,475

772,497

CURRENT ASSETS

Debtors

6

134,761

116,492

Cash at bank

387,855

453,131

522,616

569,623

CREDITORS

Amounts falling due within one year

7

(713

)

(5,083

)

NET CURRENT ASSETS

521,903

564,540

TOTAL ASSETS LESS CURRENT LIABILITIES

1,282,378

1,337,037

PROVISIONS FOR LIABILITIES

(84,207

)

(84,207

)

NET ASSETS

1,198,171

1,252,830

CAPITAL AND RESERVES

Called up share capital

7,778

7,778

Revaluation reserve

8

634,329

634,329

Capital redemption reserve

2,222

2,222

Retained earnings

553,842

608,501

SHAREHOLDERS' FUNDS

1,198,171

1,252,830

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 August 2023 and were signed on its behalf by:

D Chatt - Director

1.	STATUTORY INFORMATION

SRW Investments 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 as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

in accordance with the property

Motor vehicles

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Motor

property

vehicles

Totals

£

£

£

COST OR VALUATION

At 1 March 2022

and 28 February 2023

885,638

65,455

951,093

DEPRECIATION

At 1 March 2022

140,756

37,841

178,597

Charge for year

5,118

6,904

12,022

At 28 February 2023

145,874

44,745

190,619

NET BOOK VALUE

At 28 February 2023

739,764

20,710

760,474

At 28 February 2022

744,882

27,614

772,496

Cost or valuation at 28 February 2023 is represented by:

Freehold

Motor

property

vehicles

Totals

£

£

£

Valuation in 2021

718,536

-

718,536

Cost

167,102

65,455

232,557

885,638

65,455

951,093

5.	FIXED ASSET INVESTMENTS

The fixed asset investment comprises a 100% holding in Sussex Refrigeration Wholesale Ltd (company number 10580602), a company incorporated on 24th January 2017.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.23

28.2.22

£

£

Other debtors

134,761

116,492

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.23

28.2.22

£

£

Taxation and social security

(713

)

4,002

Other creditors

1,426

1,081

713

5,083

8.

RESERVES

Revaluation reserve represents the fair value uplift on the value of the company's land and buildings at Harbour Way, Shoreham by Sea, West Sussex.

9.	RELATED PARTY DISCLOSURES

On 1st March 2017, the company transferred its trade and associated assets and liabilities to its 100% owned subsidiary, Sussex Refrigeration Wholesale Limited.

At the balance sheet date the company is owed the sum of £132,561 (2022:£114,553) by its subsidiary.