Year Ended
Registration number:
S&WWH Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
S&WWH Limited
Company Information
Directors |
J J D Cox C Smart |
Company secretary |
Mrs C Martin Battens Secretarial Services Ltd |
Registered office |
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Accountants |
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S&WWH Limited
Balance Sheet
30 April 2021
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2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets/(liabilities) |
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Net assets |
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Capital and reserves |
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Profit and loss account |
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Total equity |
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S&WWH Limited
Balance Sheet
30 April 2021
For the financial year ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 04699681
S&WWH Limited
Notes to the Financial Statements
Year Ended 30 April 2021
General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The directors have prepared the financial statements on a going concern basis, on the understanding that the company will continue to receive financial support from its members if it is required and, accordingly, the financial statements do not include any adjustments that would result if this support were not forthcoming.
Management has considered the consequences of Covid-19 and it has determined that this does not create a material uncertainty that casts significant doubt upon the entity's ability to continue as a going concern.
Revenue recognition
Turnover represents the total invoice value of subscriptions and sales made during the year, net of Value Added Tax and trade discounts.
Subscription income is recognised over the period to which it relates. Sales are recognised when the goods are physically purchased by the customer.
S&WWH Limited
Notes to the Financial Statements
Year Ended 30 April 2021
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Property Improvements |
15% per annum reducing balance |
Plant and Machinery |
25% per annum reducing balance |
Financial instruments
S&WWH Limited
Notes to the Financial Statements
Year Ended 30 April 2021
Classification
• Short term trade and other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Taxation |
Tax charged/(credited) in the profit and loss account
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2020 |
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Current taxation |
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UK corporation tax |
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Deferred taxation |
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Arising from origination and reversal of timing differences |
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Tax expense/(receipt) in the income statement |
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S&WWH Limited
Notes to the Financial Statements
Year Ended 30 April 2021
Tangible assets |
Property Improvements |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 May 2020 |
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Additions |
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Disposals |
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At 30 April 2021 |
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Depreciation |
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At 1 May 2020 |
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Charge for the year |
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Eliminated on disposal |
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At 30 April 2021 |
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Carrying amount |
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At 30 April 2021 |
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At 30 April 2020 |
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S&WWH Limited
Notes to the Financial Statements
Year Ended 30 April 2021
Creditors |
Creditors: amounts falling due within one year
Note |
2021 |
2020 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Corporation tax |
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Other creditors |
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Accrued expenses |
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Deferred income |
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Loans and borrowings |
2021 |
2020 |
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Current loans and borrowings |
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Bank borrowings |
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