SWF Electronics Limited - Filleted accounts

SWF Electronics Limited - Filleted accounts

S.W.F. ELECTRONICS LIMITED - Company Information

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Registered number
01687114
SWF Electronics Limited
Filleted Accounts
31 December 2017
SWF Electronics Limited
Registered number: 01687114
Balance Sheet
as at 31 December 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 24,858 16,996
Current assets
Stocks 6,000 6,000
Debtors 4 36,464 34,780
Cash at bank and in hand 31,572 47,759
74,036 88,539
Creditors: amounts falling due within one year 5 (24,479) (23,406)
Net current assets 49,557 65,133
Net assets 74,415 82,129
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 73,415 81,129
Shareholders' funds 74,415 82,129
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P. K. Ruler
Director
Approved by the board on 31 January 2018
SWF Electronics Limited
Notes to the Accounts
for the year ended 31 December 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing balance
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2017 8,971 33,006 41,977
Additions - 24,810 24,810
Disposals - (20,971) (20,971)
At 31 December 2017 8,971 36,845 45,816
Depreciation
At 1 January 2017 7,593 17,388 24,981
Charge for the year 206 7,894 8,100
On disposals - (12,123) (12,123)
At 31 December 2017 7,799 13,159 20,958
Net book value
At 31 December 2017 1,172 23,686 24,858
At 31 December 2016 1,378 15,618 16,996
4 Debtors 2017 2016
£ £
Trade debtors 34,215 32,561
Other debtors 2,249 2,219
36,464 34,780
5 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 8,139 3,246
Taxation and social security costs 13,090 17,210
Other creditors 3,250 2,950
24,479 23,406
6 Other information
SWF Electronics Limited is a private company limited by shares and incorporated in England. Its registered office is:
15 Farriers Way
Temple Farm Industrial Estate
Southend on Sea
Essex
SS2 5RY
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