S G W Research Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04481655 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

S G W Research Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S Gordon - Wild

J H Wild

SECRETARY:

J H Wild

REGISTERED OFFICE:

Oake House

Silver Street

West Buckland

Wellington

Somerset

TA21 9LR

REGISTERED NUMBER:

04481655 (England and Wales)

ACCOUNTANTS:

Evolution ABS Limited

Oake House

Silver Street

West Buckland

Wellington

Somerset

TA21 9LR

FIXED ASSETS

Tangible assets

4

592

158

Investments

5

4,115,120

4,104,120

4,115,712

4,104,278

CURRENT ASSETS

Debtors

6

251,021

280,206

Investments

7

10,000

10,000

Cash at bank

664,917

145,358

925,938

435,564

CREDITORS

Amounts falling due within one year

8

4,322,149

3,984,604

NET CURRENT LIABILITIES

(3,396,211

)

(3,549,040

)

TOTAL ASSETS LESS CURRENT LIABILITIES

719,501

555,238

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

719,500

555,237

SHAREHOLDERS' FUNDS

719,501

555,238

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 applicable to companies subject to the small companies regime.

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 19 December 2019 and were signed on its behalf by:

Mrs S Gordon - Wild - Director

1.	STATUTORY INFORMATION

S G W Research 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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.

Plant and machinery

-

33% on reducing balance

Computer equipment

-

33% on cost

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments lssues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company

becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when

there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net

basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, arc initially

measured at transaction price including transaction costs and are subsequently carried at amortised cost using

the effective interest method unless the arrangement constitutes a financing transaction, where the

transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of

impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that

occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present

value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss

is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was

recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed

what the carrying amount would have been, had the impairment not previously been recognised. The

impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or

are settled, or when the company transfers the financial asset and substantially all the risks and rewards of

ownership to another entity, or if some significant risks and rewards of ownership are retained but control of

the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third

party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidence a residual interest in the

assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies

and preference shares that are classified as debt, are initially recognised at transaction price unless the

arrangement constitutes a financing transaction, where the debt instrument is measured at the present value

of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within

one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year

or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at

transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or

cancelled.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 April 2018

2,182

429

2,611

Additions

-

865

865

At 31 March 2019

2,182

1,294

3,476

DEPRECIATION

At 1 April 2018

2,170

283

2,453

Charge for year

4

427

431

At 31 March 2019

2,174

710

2,884

NET BOOK VALUE

At 31 March 2019

8

584

592

At 31 March 2018

12

146

158

5.	FIXED ASSET INVESTMENTS

2019

2018

£

£

Other investments not loans

4,115,120

4,104,120

Additional information is as follows:

Dukes LLP

£

COST

At 1 April 2018

and 31 March 2019

4,000,000

NET BOOK VALUE

At 31 March 2019

4,000,000

At 31 March 2018

4,000,000

Investments (neither listed nor unlisted) were as follows:

2019

2018

£

£

Investments

115,120

104,120

Investments includes £79,580 in sculptures and paintings.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

229,846

260,563

Prepayments and accrued income

21,175

19,643

251,021

280,206

7.	CURRENT ASSET INVESTMENTS

2019

2018

£

£

Investment in Dukes LLP

10,000

10,000

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Tax

37,706

32,349

Directors' loan accounts

4,282,667

3,950,479

Accrued expenses

1,776

1,776

4,322,149

3,984,604