Swag Distribution Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07971000 (England and Wales)

SWAG DISTRIBUTION LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTORS:

J M Johansen-Berg

R W Lancaster

N Rigard

REGISTERED OFFICE:

31 St. John's

Worcester

Worcestershire

WR2 5AG

BUSINESS ADDRESS:

Skatehut, Unit 2 Block 2

Shenstone Trading Estate

Bromsgrove Road

Halesowen

B63 3XB

REGISTERED NUMBER:

07971000 (England and Wales)

AUDITORS:

Gardiner Fosh

Chartered Accountants and Statutory Auditor

31 St John's

Worcester

Worcestershire

WR2 5AG

FIXED ASSETS

Tangible assets

4

3,612

-

CURRENT ASSETS

Debtors

5

24,311

-

Cash at bank and in hand

300,309

94,361

324,620

94,361

CREDITORS

Amounts falling due within one year

6

231,608

71,653

NET CURRENT ASSETS

93,012

22,708

TOTAL ASSETS LESS CURRENT LIABILITIES

96,624

22,708

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

96,614

22,698

SHAREHOLDERS' FUNDS

96,624

22,708

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 17 October 2017 and were signed on its behalf by:

J M Johansen-Berg - Director

1.	STATUTORY INFORMATION

Swag Distribution 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes.

Tangible fixed assets

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

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 0 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

5,215

At 31 March 2017

5,215

DEPRECIATION

Charge for year

1,603

At 31 March 2017

1,603

NET BOOK VALUE

At 31 March 2017

3,612

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

23,880

-

Other debtors

431

-

24,311

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

7

Payments on account

-

33,033

Trade creditors

2,368

(209

)

Amounts owed to group undertakings

176,112

27,466

Taxation and social security

44,052

5,825

Other creditors

9,076

5,531

231,608

71,653

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gavin P Gardiner (Senior Statutory Auditor)

for and on behalf of Gardiner Fosh

8.	ULTIMATE CONTROLLING PARTY

The controlling party is J M Johansen-Berg.

The ultimate controlling party is J M Johansen-Berg.