REGISTERED NUMBER: 06965863 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

FOR

SW COMMERCIALS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

S J Williams

SECRETARY:

Mrs M A Williams

REGISTERED OFFICE:

The Old Carriage Works

Moresk Road

TRURO

Cornwall

TR1 1DG

REGISTERED NUMBER:

06965863 (England and Wales)

ACCOUNTANTS:

Lang Bennetts Chartered Accountants

The Old Carriage Works

Moresk Road

TRURO

Cornwall

TR1 1DG

FIXED ASSETS

Intangible assets

2

42,000

45,000

Tangible assets

3

11,280

23,298

53,280

68,298

CURRENT ASSETS

Stocks

5,000

5,000

Debtors

212,700

136,775

Cash at bank

5,132

11,116

222,832

152,891

CREDITORS

Amounts falling due within one year

217,683

167,331

NET CURRENT ASSETS/(LIABILITIES)

5,149

(14,440

)

TOTAL ASSETS LESS CURRENT LIABILITIES

58,429

53,858

CREDITORS

Amounts falling due after more than one year

(6,416

)

(15,916

)

PROVISIONS FOR LIABILITIES

(2,256

)

(3,680

)

NET ASSETS

49,757

34,262

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

49,657

34,162

SHAREHOLDERS' FUNDS

49,757

34,262

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 23 March 2016 and were signed by:

S J Williams - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 15% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

and 30 September 2015

60,000

AMORTISATION

At 1 October 2014

15,000

Amortisation for year

3,000

At 30 September 2015

18,000

NET BOOK VALUE

At 30 September 2015

42,000

At 30 September 2014

45,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

54,319

Additions

1,218

Disposals

(7,900

)

At 30 September 2015

47,637

DEPRECIATION

At 1 October 2014

31,021

Charge for year

6,998

Eliminated on disposal

(1,662

)

At 30 September 2015

36,357

NET BOOK VALUE

At 30 September 2015

11,280

At 30 September 2014

23,298

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2015 and

30 September 2014:

2015

2014

£

£

S J Williams

Balance outstanding at start of year

16,557

15,356

Amounts advanced

35,265

54,221

Amounts repaid

(33,059

)

(53,020

)

Balance outstanding at end of year

18,763

16,557

The outstanding balance was repaid by the director after the year end.