Company Registration No. 03741789 (England and Wales)
Swift Catering Equipment Limited
Unaudited accounts
for the year ended 31 March 2021
Swift Catering Equipment Limited
Unaudited accounts
Contents
Swift Catering Equipment Limited
Company Information
for the year ended 31 March 2021
Directors
William Westwood Munro
Ashley James Munro
Company Number
03741789 (England and Wales)
Registered Office
10 BRAISWICK PLACE
LAINDON NORTH INDUSTRIAL ESTATE
BASILDON
ESSEX
SS15 6EB
Accountants
LowTax Limited
39A High Street
Billericay
Essex
CM12 9BA
Swift Catering Equipment Limited
Statement of financial position
as at
31 March 2021
Tangible assets
22,113
26,733
Inventories
110,519
123,045
Cash at bank and in hand
155,911
70,016
Creditors: amounts falling due within one year
(303,615)
(203,677)
Net current assets
202,588
128,359
Total assets less current liabilities
224,701
155,092
Creditors: amounts falling due after more than one year
(50,000)
-
Provisions for liabilities
Deferred tax
(4,201)
(5,079)
Net assets
170,500
150,013
Called up share capital
504
504
Share premium
4,500
4,500
Profit and loss account
165,496
145,009
Shareholders' funds
170,500
150,013
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2021 and were signed on its behalf by
William Westwood Munro
Director
Company Registration No. 03741789
Swift Catering Equipment Limited
Notes to the Accounts
for the year ended 31 March 2021
Swift Catering Equipment Limited is a private company, limited by shares, registered in England and Wales, registration number 03741789. The registered office is 10 BRAISWICK PLACE, LAINDON NORTH INDUSTRIAL ESTATE, BASILDON, ESSEX, SS15 6EB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance
Motor vehicles
25% Straight line
Fixtures & fittings
15% Reducing balance and 20% Straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. This is amortised to profit and loss account over its estimated economic life of 20 years.
Other intangibe assets are Computer software costs. It is depreciated as follows:
Software - 25% Straight line
Swift Catering Equipment Limited
Notes to the Accounts
for the year ended 31 March 2021
4
Intangible fixed assets
Goodwill
Goodwill is measured at cost less accumulative amortisation and any accumulative impairment losses. This is amortised to profit and loss account over its estimated economic life of 20 years.
Other intangibe assets are Computer software costs. It is depreciated as follows:
Software - 25% Straight line
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2020
104,912
74,039
88,184
267,135
Disposals
-
(240)
-
(240)
At 31 March 2021
104,912
73,799
88,184
266,895
At 1 April 2020
92,905
74,039
73,458
240,402
Charge for the year
2,402
-
2,218
4,620
On disposals
-
(240)
-
(240)
At 31 March 2021
95,307
73,799
75,676
244,782
At 31 March 2021
9,605
-
12,508
22,113
At 31 March 2020
12,007
-
14,726
26,733
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
235,539
134,945
Accrued income and prepayments
4,234
4,030
Swift Catering Equipment Limited
Notes to the Accounts
for the year ended 31 March 2021
7
Creditors: amounts falling due within one year
2021
2020
Obligations under finance leases and hire purchase contracts
-
954
Trade creditors
187,924
123,544
Taxes and social security
12,753
12,090
Loans from directors
4,035
4,035
8
Creditors: amounts falling due after more than one year
2021
2020
9
Average number of employees
During the year the average number of employees was 17 (2020: 22).