Swift Chem-tex Limited - Accounts to registrar (filleted) - small 18.2

Swift Chem-tex Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 02221731(England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2018

for

Swift Chem-tex Limited

Swift Chem-tex Limited (Registered number: 02221731)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2018




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


Swift Chem-tex Limited

Company Information
FOR THE YEAR ENDED 30 SEPTEMBER 2018







Directors: Mr A Brandt
Mrs I Einav





Secretary: Mr A Brandt





Registered office: 82 London Road
Leicester
Leicestershire
LE2 0QR





Registered number: 02221731(England and Wales)





Accountants: Pinnacle
Chartered Certified Accountants
& Registered Auditors
32 DeMontfort Street
Leicester
Leicestershire
LE1 7GD

Swift Chem-tex Limited (Registered number: 02221731)

Balance Sheet
30 SEPTEMBER 2018

30.9.18 30.9.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 1,172

CURRENT ASSETS
Stocks 38,400 38,400
Debtors 5 23,398 23,398
Cash in hand 136 136
61,934 61,934
CREDITORS
Amounts falling due within one year 6 422,104 444,574
NET CURRENT LIABILITIES (360,170 ) (382,640 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(360,170

)

(381,468

)

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 (360,270 ) (381,568 )
SHAREHOLDERS' FUNDS (360,170 ) (381,468 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 June 2019and were signed on its behalf by:





Mr A Brandt- Director


Swift Chem-tex Limited (Registered number: 02221731)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2018

1. STATUTORY INFORMATION

Swift Chem-tex Limited is a private company, limited by shares, registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

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.
Short leasehold - 2% per annum on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws
that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal
of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 profit or loss over the relevant period. The capital element
of the future payments is treated as a liability.

Swift Chem-tex Limited (Registered number: 02221731)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2018

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2017
and 30 September 2018 7,886 24,824 12,017 44,727
DEPRECIATION
At 1 October 2017 7,886 24,536 11,133 43,555
Charge for year - 288 884 1,172
At 30 September 2018 7,886 24,824 12,017 44,727
NET BOOK VALUE
At 30 September 2018 - - - -
At 30 September 2017 - 288 884 1,172

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as
follows:
Motor
vehicles
£   
COST
At 1 October 2017
and 30 September 2018 8,356
DEPRECIATION
At 1 October 2017 7,777
Charge for year 579
At 30 September 2018 8,356
NET BOOK VALUE
At 30 September 2018 -
At 30 September 2017 579

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.18 30.9.17
£    £   
Trade debtors 8,546 8,546
Other debtors 14,852 14,852
23,398 23,398

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.18 30.9.17
£    £   
Bank loans and overdrafts 9,657 9,657
Trade creditors 114,583 114,583
Taxation and social security 25,639 25,639
Other creditors 272,225 294,695
422,104 444,574

Swift Chem-tex Limited (Registered number: 02221731)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2018

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.18 30.9.17
value: £    £   
100 Ordinary shares £1 100 100

8. RESERVES
Retained
earnings
£   

At 1 October 2017 (381,568 )
Profit for the year 21,298
At 30 September 2018 (360,270 )

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs I Einav.