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Unaudited Financial Statements for the Year Ended 31st August 2018 |
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Swallow Drinks South West Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31st August 2018 |
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for |
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Swallow Drinks South West Ltd |
Swallow Drinks South West Ltd (Registered number: 06683730) |
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Contents of the Financial Statements |
for the Year Ended 31st August 2018 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Swallow Drinks South West Ltd |
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Company Information |
for the Year Ended 31st August 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Whetcombe Whey |
Ropers Lane |
Wrington |
Somerset |
BS40 5NH |
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BANKERS: |
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284 Wells Road |
Knowle |
Bristol |
BS4 2PY |
Swallow Drinks South West Ltd (Registered number: 06683730) |
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Abridged Balance Sheet |
31st August 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
5 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
Swallow Drinks South West Ltd (Registered number: 06683730) |
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Abridged Balance Sheet - continued |
31st August 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Swallow Drinks South West Ltd (Registered number: 06683730) |
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Notes to the Financial Statements |
for the Year Ended 31st August 2018 |
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1. | STATUTORY INFORMATION |
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Swallow Drinks South West Ltd is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The following accounting policies have been consistently applied in dealing with the items which are considered |
material to the company's accounts. |
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Turnover |
Turnover consists of the invoiced value, excluding VAT, for goods and services supplied to third parties in the |
ordinary course of business during the year and is attributable to the principal activity of the company. |
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Tangible fixed assets and depreciation |
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Plant and machinery etc | - |
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Property |
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While acknowledging that it is a requirement of the Companies Act, the directors believe that the value of the |
property is no less than the value shown in the accounts as at the year end and no depreciation has been provided. |
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It is the directors' intention to maintain the property to its present standard in order to retain the value reflected |
in the accounts. |
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Equipment, Fixtures and Fittings |
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It is the company's policy to remove the original cost and the accumulated depreciation from certain fixed assets |
of those items that were acquired more than 10 years previously. |
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Stocks |
Stock is stated at the lower of cost and net realisable value in the ordinary course of business. |
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Taxation |
The charge for taxation is based on the trading profit for the year and takes into account deferred taxation. Full |
provision is made for deferred tax liabilities arising from timing differences between the recognition of gains and |
losses in the accounts and their recognition for corporate tax purposes. No account is taken for any deferred tax |
assets where they arise. |
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Hire purchase and leasing commitments |
Assets held under hire purchase contracts are capitalised and depreciated over their useful lives. The |
corresponding obligation is treated in the Balance Sheet as a liability. The interest element of the contract is |
charged to the Profit and Loss Account over the period of the contract as a constant proportion of the outstanding |
balance of capital repayments. |
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All other leases are accounted for as operating leases and the rental charges are charged to the profit and loss |
account on a straight line basis over the period of the lease. |
Swallow Drinks South West Ltd (Registered number: 06683730) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st August 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs |
The company makes payments to employee pension schemes. Contributions payable to the pension schemes are |
charged to the profit and loss account in the year to which they relate. The assets of the schemes are invested and |
managed independently of the finances of the company. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st September 2017 |
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Additions |
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Disposals | ( |
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Impairments | (175,000 | ) |
At 31st August 2018 |
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DEPRECIATION |
At 1st September 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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Impairments | ( |
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At 31st August 2018 |
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NET BOOK VALUE |
At 31st August 2018 |
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At 31st August 2017 |
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Fixed assets, included in the above, which are held under finance leases are as follows: |
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Totals |
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COST |
At 1st September 2017 | 141,194 |
Additions | 114,027 |
Transfer to ownership | (33,190 | ) |
At 31st August 2018 | 222,031 |
DEPRECIATION |
At 1st September 2017 | 50,546 |
Charge for year | 53,171 |
Transfer to ownership | (26,966 | ) |
At 31st August 2018 | 76,751 |
NET BOOK VALUE |
At 31st August 2018 | 145,280 |
At 31st August 2017 | 90,648 |
Swallow Drinks South West Ltd (Registered number: 06683730) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st August 2018 |
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5. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS |
2018 | 2017 |
£ | £ |
Repayable by instalments |
Property loan - > 5 years | 61,146 | 67,284 |
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6. | LEASING AGREEMENTS |
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Minimum lease payments under finance leases fall due as follows: |
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Finance leases |
2018 | 2017 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank loan | 4,424 | 11,656 |
Property loan | 103,646 | 112,284 |
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At the 31st August 2018 a bank overdraft facility and bank loan was secured by a fixed and floating charge over |
the assets of the business supported by a guarantee from a director. |
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A charge over the property dated the 17th December 2013 has been made in favour of the lender of the property |
loan. |
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8. | RELATED PARTY DISCLOSURES |
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The company supplies goods to a company in which the directors have an interest : |
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2018 | 2017 |
£ | £ |
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Goods supplied during the year | 45,788 | 33,133 |
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9. | ULTIMATE CONTROLLING PARTY |
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At the 31st August 2018 no individual member had a shareholding of sufficient size to enable them to exercise |
control of the company. |