SWIFT_FINANCIAL_SOLUTIONS - Accounts
SWIFT_FINANCIAL_SOLUTIONS - Accounts
Company Registration No. 07530928 (England and Wales)
FOR THE YEAR ENDED 28 FEBRUARY 2014
COMPANY INFORMATION
Director
Company number
Registered office
Accountants
CONTENTS
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 7
DIRECTOR'S REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2014
- 1 -
The director presents his report and financial statements for the year ended 28 February 2014.
Principal activities
Director
The following director has held office since 1 March 2013:
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
Director
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY ACCOUNTS OF SWIFT FINANCIAL SOLUTIONS LTD
- 2 -
You consider that the company is exempt from an audit for the year ended 28 February 2014. You have acknowledged, on the balance sheet, your responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Companies Act 2006, and for preparing accounts which give a true and fair view of the state of affairs of the company and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared these accounts on pages 3 to 7 from the accounting records of the company and on the basis of information and explanations you have given us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
In accordance with your instructions, we have prepared these accounts on pages 3 to 7 from the accounting records of the company and on the basis of information and explanations you have given us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
TaxAssist Accountants
Accountants
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 28 FEBRUARY 2014
- 3 -
2014
2013
Notes
£
£
Turnover
Cost of sales
(270,343 )
(21,385 )
Gross profit
Administrative expenses
(540,960 )
(11,112 )
(Loss)/profit on ordinary activities before taxation
2
(59,120 )
Tax on (loss)/profit on ordinary activities
-
-
(Loss)/profit for the year
7
(59,120 )
The profit and loss account has been prepared on the basis that all operations are continuing operations.
There are no recognised gains and losses other than those passing through the profit and loss account.
BALANCE SHEET
AS AT
28 FEBRUARY 2014
- 4 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
3
Current assets
Debtors
4
-
Cash at bank and in hand
Creditors: amounts falling due within one year
5
(107,037 )
(1,271 )
Net current (liabilities)/assets
(99,110 )
Total assets less current liabilities
(58,615 )
Provisions for liabilities
-
(15,000 )
(58,615 )
Capital and reserves
Called up share capital
6
Profit and loss account
7
(58,617 )
Shareholders' funds
8
(58,615 )
Director's responsibilities:
-
-
Approved by the Board and authorised for issue on 20 November 2014
Director
Company Registration No. 07530928
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2014
- 5 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Computer equipment
Fixtures, fittings & equipment
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Operating (loss)/profit
2014
2013
£
£
Operating (loss)/profit is stated after charging:
Depreciation of tangible assets
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2014
- 6 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2013
Additions
At 28 February 2014
Depreciation
At 1 March 2013
Charge for the year
At 28 February 2014
Net book value
At 28 February 2014
At 28 February 2013
4
Debtors
2014
2013
£
£
Trade debtors
-
5
Creditors: amounts falling due within one year
2014
2013
£
£
Trade creditors
6
Share capital
2014
2013
£
£
Allotted, called up and fully paid
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2014
- 7 -
7
Statement of movements on profit and loss account
Profit
and loss
account
and loss
account
£
Balance at 1 March 2013
Loss for the year
(59,120 )
Balance at 28 February 2014
(58,617 )
8
Reconciliation of movements in shareholders' funds
2014
2013
£
£
(Loss)/Profit for the financial year
(59,120 )
Opening shareholders' funds
Closing shareholders' funds
(58,615 )