SMW Financial Limited - Accounts to registrar (filleted) - small 18.1
SMW Financial Limited - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2017 |
| for |
| SMW Financial Limited |
| SMW Financial Limited (Registered number: 08336169) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 5 |
| SMW Financial Limited |
| Company Information |
| for the Year Ended 31 December 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Norfolk House |
| 75 Bartholomew Street |
| Newbury |
| Berkshire |
| RG14 5DU |
| SMW Financial Limited (Registered number: 08336169) |
| Balance Sheet |
| 31 December 2017 |
| 31.12.17 | 31.12.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 7 |
| SHAREHOLDERS' FUNDS |
| The director acknowledges her 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| SMW Financial Limited (Registered number: 08336169) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2017 |
| 1. | STATUTORY INFORMATION |
| SMW Financial Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| 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 NIL (2016 - 1 ). |
| 4. | FIXED ASSET INVESTMENTS |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Amounts owed to group undertakings |
| Tax | ( |
) |
| Bank loan | 20,340 | 20,340 |
| Loan notes | 1,740 | 1,740 |
| Loan | - | 78,000 |
| Directors' current accounts | 23,234 | 34,677 |
| Accrued expenses |
| SMW Financial Limited (Registered number: 08336169) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Bank loan |
| 7. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 January 2017 |
| Profit for the year |
| Dividends | ( |
) |
| At 31 December 2017 |
| 8. | RELATED PARTY DISCLOSURES |
| During the year the company made the following related party transactions: |
| S M Wheeler (director) had a loan with the company. At the balance sheet date the amount due to S M Wheeler |
| was £23,234 (2016 - £34,677 ). |
| Dividends of £163,000 were paid to S M Wheeler by the company. |
| Essential Wealth Management and Advice Limited (a wholly owned subsidiary) made payments on behalf of |
| SMW Financial Limited. At the balance sheet date the amount due to Essential Wealth Management and Advice |
| Limited was £256,818 ( 2016 - £ 221,375). |
| 9. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by the director, S Wheeler who owns 100% of the called up share capital. |
| Chartered Accountants' Report to the Director |
| on the Unaudited Financial Statements of |
| SMW Financial Limited |
| The following reproduces the text of the report prepared for the director in respect of the company's annual |
| unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
| a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
| Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of SMW Financial Limited for the year ended 31 December 2017 which comprise the Income |
| Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of SMW Financial Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SMW Financial Limited and state those matters that we have agreed to state to the director of SMW Financial Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SMW Financial Limited and its director for our work or for this report. |
| It is your duty to ensure that SMW Financial Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SMW Financial Limited. You consider that SMW Financial 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 financial statements of SMW Financial 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 financial statements. |
| Norfolk House |
| 75 Bartholomew Street |
| Newbury |
| Berkshire |
| RG14 5DU |