Registered Number
:
12855421
|
For the period ended 30 September 2021
England and Wales
Unaudited Financial Statements
For the period ended 30 September 2021
SW Property Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
SW Property Ltd
Statement of Financial Position
2021
Property
,
plant and equipment
|
28,400
2
3
464,288
492,688
Trade and other receivables
|
4,494
4
Cash and cash equivalents
|
4,070
8,564
Trade and other payables
:
amounts falling due within one
|
year
|
(191,295)
5
(182,731)
Net current liabilities
Total assets less current liabilities
|
309,957
Trade and other payables
:
amounts falling due after more
|
than one year
|
(310,590)
6
(633)
Net assets/liabilities
1
(634)
(633)
Shareholders' funds
For the period ended 30 September 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 of its financial statements for the period ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006
|
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
|
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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
|
These financial statements were approved and authorised for issue by the Board on 31 August 2022 and were signed by:
|
The notes form part of these financial statements
|
1 of 4
For the period ended 30 September 2021
SW Property Ltd
Notes to the Financial Statements
Statutory Information
SW Property Ltd is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
registration number
|
12855421
.
|
2 The Hills
Warton
Tamworth
B79 0JF
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A 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 costs convention as
|
modified by the revaluation of certain assets
.
|
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Motor Vehicles
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
|
2
.
Property
,
plant and equipment
|
Motor Vehicles
35,500
35,500
Provision for depreciation and impairment
|
Charge for period
7,100
7,100
28,400
2 of 4
For the period ended 30 September 2021
SW Property Ltd
Notes to the Financial Statements Continued
464,288
464,288
464,288
4
.
Trade and other receivables
|
2021
3,925
569
4,494
5
.
Trade and other payables
:
amounts falling due within one year
|
2021
Taxation and social security
|
330
190,965
191,295
6
.
Trade and other payables
:
amounts falling due after more than one year
|
2021
Bank loans and overdraft
(
secured
)
|
310,590
-
The loans of £158,340 and £152,250 were Interest Only Buy To Let loans from Onesavings Bank and were first drawn down on 22/12/2020 and 16/02/2021. They were used to purchase the investment properties.The loan of £152,250 bears interest at 3.79%p.a. for the first 24 months and then at a variable rate thereafter, currently 6.18%p.a.The loan of £158,340 bears interest at 3.99%p.a. for the first 24 months and then at a variable rate thereafter, currently 6.18%p.a.The interest is settled monthly. Both loans had 25 year terms from inception.The loans are secured by fixed charges on the properties.
|
7
.
Related party transactions
|
Mr S Wild controls the company as sole director and shareholder.
3 of 4
For the period ended 30 September 2021
SW Property Ltd
Notes to the Financial Statements Continued
8
.
Directors advances and guarantees
|
Mr S Wild, director, has given 2 personal guarantees for the mortgages on the properties.
9
.
Average number of persons employed
|
During the year the average number of employees was 1
4 of 4