SWAT HOLDINGS LIMITED - Limited company accounts 16.1

REGISTERED NUMBER: 06276353 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

For The Year Ended 31 December 2015

for

SWAT HOLDINGS LIMITED

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

A H R Gibbons

D J Norris

SECRETARY:

Mrs J A Gibbons

REGISTERED OFFICE:

Tor View House

3 Darklake View

Estover

Plymouth

Devon

PL6 7TL

REGISTERED NUMBER:

06276353 (England and Wales)

SOLICITORS:

Lodders

25 Imperial Square

Cheltenham

GL50 1QZ

The directors present their report with the financial statements of the company for the year ended 31 December 2015.

REVIEW OF BUSINESS

The directors are satisfied with the results for the year as set out in the profit and loss account on page 3 and expect the

current activity to continue in the future.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2015 to the date of this report.

A H R Gibbons

D J Norris

Other changes in directors holding office are as follows:

V A Banthorpe - resigned 30 April 2015

M Sturgess - resigned 30 June 2015

Mrs S J Sturgess - resigned 30 June 2015

J R Weatherhead - resigned 30 April 2015

Mrs J A Gibbons - resigned 30 June 2015

Mrs E J Norris - resigned 30 June 2015

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with

applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors

have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting

Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not

approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the

company and of the profit or loss of the company for that period. In preparing these financial statements, the directors

are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the

company's transactions and disclose with reasonable accuracy at any time the financial position of the company and

enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for

safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud

and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

D J Norris - Director

18 July 2016

TURNOVER

338,210

927,605

Cost of sales

266,625

637,581

GROSS PROFIT

71,585

290,024

OPERATING PROFIT

2

71,585

290,024

Income from shares in group undertakings

350,000

500,000

421,585

790,024

Interest payable and similar charges

(126

)

24

PROFIT ON ORDINARY ACTIVITIES BEFORE
TAXATION

421,711

790,000

Tax on profit on ordinary activities

3

14,342

60,613

PROFIT FOR THE FINANCIAL YEAR

407,369

729,387

FIXED ASSETS

Investments

4

75,286

CURRENT ASSETS

Debtors

5

110,783

203,460

Cash at bank and in hand

177,614

192,549

288,397

396,009

CREDITORS

Amounts falling due within one year

6

15,254

82,220

NET CURRENT ASSETS

273,143

313,789

TOTAL ASSETS LESS CURRENT
LIABILITIES

348,429

389,075

CAPITAL AND RESERVES

Called up share capital

7

6,931

7,601

Share premium

8

222,915

Capital redemption reserve

8

2,380

1,710

Profit and loss account

8

116,203

156,849

SHAREHOLDERS' FUNDS

348,429

389,075

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the Board of Directors on 18 July 2016 and were signed on its behalf by:

D J Norris - Director

1.	ACCOUNTING POLICIES

Basis of preparation of the financial statements

The financial statements have been prepared on a going concern basis under the historical cost convention and

in accordance with the Companies Act 2006 and the Financial Reporting Standards for Smaller Entities

(effective January 2015).

The principal accounting policies, which have been applied consistently, are as set out below.

Turnover

Turnover represents amounts invoiced in respect of management charges to subsidiaries, net of value added

tax.

Group accounts

In preparing these financial statements advantage has been taken of the exemptions conferred by the

Companies Act 2006 not to prepare consolidated group accounts, on the grounds that the group is entitled to the

benefit of those exemptions as a small group. The financial statements therefore present information about the

company as an individual undertaking and not about its group.

Pension costs

The company operates "personal pension plans" whereby the company agrees to pay for eligible employees, a

defined contribution into the employee's own personal pension scheme. The pension charge represents

contributions payable by the company for the year. The company's liability is limited to the amount of

contribution. The liability for meeting future pension payments rests solely with the employee's personal pension

scheme.

2.	OPERATING PROFIT

The operating profit is stated after charging:

31.12.15

31.12.14

£

Pension costs

49,759

60,858

Directors' remuneration and other benefits etc

252,702

563,658

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

4

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

31.12.15

31.12.14

£

Current tax:

UK corporation tax

14,342

60,613

Tax on profit on ordinary activities

14,342

60,613

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2015

and 31 December 2015

75,286

NET BOOK VALUE

At 31 December 2015

75,286

At 31 December 2014

75,286

The company's investments at the Balance Sheet date in the share capital of companies include the following:

SWAT UK Limited

Country of incorporation: England & Wales

Nature of business: Training & consultancy services

%

Class of shares:

holding

£1 Ordinary

100.00

31.12.15

31.12.14

£

Aggregate capital and reserves

940,650

914,822

Profit for the year

375,828

393,783

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.15

31.12.14

£

Amounts owed by group

undertakings

109,103

203,460

Other debtors

1,680

-

110,783

203,460

The amounts owed by group undertakings are unsecured, interest free and receivable on demand.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.15

31.12.14

£

Taxation and social security

14,463

80,550

Other creditors

791

1,670

15,254

82,220

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

6,931

Ordinary

£1

6,931

7,601

The Company purchased 670 of its own shares from V A Banthorpe on 30 March 2015 at a cost of £335,670,

based on £501 per share.

8.

RESERVES

Profit

Capital

and loss

Share

redemption

account

premium

reserve

Totals

£

At 1 January 2015

156,849

222,915

1,710

381,474

Profit for the year

407,369

Dividends

(110,665

)

(110,665

)

Purchase of own shares

(335,670

)

-

670

(335,000

)

Stamp duty

(1,680

)

-

(1,680

)

At 31 December 2015

116,203

222,915

2,380

341,498

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption in FRSSE 2015 to not disclose transactions and balances

with other wholly owned members of the group.

.

10.	ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

As at the year end the ultimate parent undertaking is SWAT Group Limited, which is registered in England &

Wales.

The ultimate controlling party is A H R Gibbons who holds a majority of the shares in SWAT Group Limited.