S & W Design & Build (Group) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10703825 (England and Wales)

S & W DESIGN & BUILD (GROUP) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

R Whyles

Mrs D L Nunn

G P Whyles

REGISTERED OFFICE:

S & W House

Longhill Road

March

Cambridgeshire

PE15 0BL

REGISTERED NUMBER:

10703825 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

FIXED ASSETS

Investments

4

1,000,000

1,000,000

Investment property

5

7,539,953

7,539,953

8,539,953

8,539,953

CURRENT ASSETS

Debtors

6

14,955

47,716

Cash at bank

289,848

27,706

304,803

75,422

CREDITORS

Amounts falling due within one year

7

215,324

239,662

NET CURRENT ASSETS/(LIABILITIES)

89,479

(164,240

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,629,432

8,375,713

CREDITORS

Amounts falling due after more than one year

8

(1,235,072

)

(1,293,123

)

PROVISIONS FOR LIABILITIES

(94,906

)

(94,906

)

NET ASSETS

7,299,454

6,987,684

CAPITAL AND RESERVES

Called up share capital

10

100

100

Fair value reserve

404,600

404,600

Other reserves

999,900

999,900

Retained earnings

5,894,854

5,583,084

SHAREHOLDERS' FUNDS

7,299,454

6,987,684

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by:

Mrs D L Nunn - Director

1.	STATUTORY INFORMATION

S & W Design & Build (Group) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Investments in subsidiaries

Investments in subsidiary undertakings are valued at the fair value of the consideration paid.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Consolidation

In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group financial statements. These financial statements therefore show only the results and balances relating to the parent company as an individual entity.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 March 2022

and 28 February 2023

1,000,000

NET BOOK VALUE

At 28 February 2023

1,000,000

At 28 February 2022

1,000,000

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2022

and 28 February 2023

7,539,953

NET BOOK VALUE

At 28 February 2023

7,539,953

At 28 February 2022

7,539,953

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

1,405

-

Amounts owed by group undertakings

-

4,588

Other debtors

13,550

43,128

14,955

47,716

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

179,323

178,389

Trade creditors

22,391

24,402

Taxation and social security

416

24,437

Other creditors

13,194

12,434

215,324

239,662

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

1,235,072

1,293,123

9.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

1,414,395

1,471,512

The bank loans are secured on various properties owned by the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

£1

100

100

11.	CONTINGENT LIABILITIES

S & W Design & Build (Group) Limited and its subsidiary undertakings are part of a group for arranging borrowing requirements.

The group companies are subject to cross guarantee arrangements and as such S & W Design & Build Limited has guaranteed the charges for S & W Design & Build (Group) Limited in relation to the properties owned by S & W Design & Build (Group) Limited.