SWC4 Limited - Period Ending 2015-03-31

Registration number: 04999243

SWC4 Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

bdhc Chartered Accountants
11 Moor Street
Chepstow
Monmouthshire
NP16 5DD

SWC4 Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
SWC4 Limited
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SWC4 Limited for the year ended 31 March 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of SWC4 Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of SWC4 Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SWC4 Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that SWC4 Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SWC4 Limited. You consider that SWC4 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of SWC4 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

bdhc Chartered Accountants
11 Moor Street
Chepstow
Monmouthshire
NP16 5DD

23 December 2015

Page 1

SWC4 Limited
(Registration number: 04999243)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					211,400			227,300
Tangible fixed assets					45,411			46,370
					256,811			273,670
Current assets
Stocks					5,000			5,000
Debtors					118,960			90,015
Cash at bank and in hand					24,811			32,310
					148,771			127,325
Creditors: Amounts falling due within one year					(66,471)			(60,094)
Net current assets					82,300			67,231
Total assets less current liabilities					339,111			340,901
Creditors: Amounts falling due after more than one year					(216,809)			(219,442)
Net assets					122,302			121,459
Capital and reserves
Called up share capital		3			101			101
Profit and loss account					122,201			121,358
Shareholders' funds					122,302			121,459

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 23 December 2015

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

SWC4 Limited
(Registration number: 04999243)
Abbreviated Balance Sheet at 31 March 2015
......... continued

.........................................
Mrs R J Chicken
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

SWC4 Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	25% reducing balance basis

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 4

SWC4 Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2014		309,000			74,028			383,028
Additions		-			1,485			1,485
At 31 March 2015		309,000			75,513			384,513
Depreciation
At 1 April 2014		81,700			27,658			109,358
Charge for the year		15,900			2,444			18,344
At 31 March 2015		97,600			30,102			127,702
Net book value
At 31 March 2015		211,400			45,411			256,811
At 31 March 2014		227,300			46,370			273,670

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100
Ordinary B of £1 each		1			1			1			1
		101			101			101			101

Page 5