Switched On UK Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 02612304 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

SWITCHED ON UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs P A Vella

P J Vella

Miss R M Vella

SECRETARY:

Miss R M Vella

REGISTERED OFFICE:

16 South End

Croydon

Surrey

CR0 1DN

REGISTERED NUMBER:

02612304 (England and Wales)

ACCOUNTANTS:

Averillo & Associates

Chartered Accountants

16 South End

Croydon

Surrey

CR0 1DN

FIXED ASSETS

Tangible assets

4

12,546

16,728

CURRENT ASSETS

Debtors

5

17,914

34,450

Cash at bank

9,531

6,198

27,445

40,648

CREDITORS

Amounts falling due within one year

6

7,417

49,157

NET CURRENT ASSETS/(LIABILITIES)

20,028

(8,509

)

TOTAL ASSETS LESS CURRENT LIABILITIES

32,574

8,219

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

32,474

8,119

SHAREHOLDERS' FUNDS

32,574

8,219

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 and authorised for issue on 27 September 2023 and were signed on its behalf by:

Mrs P A Vella - Director

1.	STATUTORY INFORMATION

Switched On UK 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 the cost less estimated residual value of each asset over its estimated useful life.

Motor vehicles

-

25% on reducing balance

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 3 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 January 2022

and 31 December 2022

20,588

DEPRECIATION

At 1 January 2022

3,860

Charge for year

4,182

At 31 December 2022

8,042

NET BOOK VALUE

At 31 December 2022

12,546

At 31 December 2021

16,728

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Tax

17,914

34,450

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

VAT

4,361

5,150

Directors' current accounts

898

41,848

Accrued expenses

2,158

2,159

7,417

49,157

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 January 2022

8,119

Profit for the year

24,355

At 31 December 2022

32,474

9.	ULTIMATE CONTROLLING PARTY

The controlling party is the directors.