Swift Chem-tex Limited - Accounts to registrar (filleted) - small 17.3

Swift Chem-tex Limited - Accounts to registrar (filleted) - small 17.3


022217311.7.1530.9.1630.9.16Company accountsPrivate Limited CompanyFYtruefalsefalsetruetruefalsefalsefalsetruefalseOrdinary shares1.00000iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure022217312015-06-30022217312016-09-30022217312015-07-012016-09-30022217312014-06-30022217312014-07-012015-06-30022217312015-06-3002221731ns12:England2015-07-012016-09-3002221731ns14:PoundSterling2015-07-012016-09-3002221731ns7:Director12015-07-012016-09-3002221731ns7:OrdinaryShareClass12015-07-012016-09-3002221731ns7:Director22015-07-012016-09-3002221731ns7:CompanySecretary2015-07-012016-09-3002221731ns7:RegisteredOffice2015-07-012016-09-3002221731ns7:EntityAccountantsOrAuditors2015-07-012016-09-3002221731ns5:LandBuildings2015-07-012016-09-3002221731ns5:PlantMachinery2015-07-012016-09-3002221731ns5:LandBuildings2015-06-3002221731ns5:PlantMachinery2015-06-3002221731ns5:LandBuildings2016-09-3002221731ns5:PlantMachinery2016-09-3002221731ns5:LandBuildings2015-06-3002221731ns5:PlantMachinery2015-06-3002221731ns5:PlantMachineryns5:LeasedTangibleFixedAssets2015-06-3002221731ns5:PlantMachineryns5:LeasedTangibleFixedAssets2015-07-012016-09-3002221731ns5:PlantMachineryns5:LeasedTangibleFixedAssets2016-09-3002221731ns5:PlantMachineryns5:LeasedTangibleFixedAssets2015-06-3002221731ns5:WithinOneYear2016-09-3002221731ns5:WithinOneYear2015-06-3002221731ns5:AfterOneYear2016-09-3002221731ns5:AfterOneYear2015-06-3002221731ns5:BetweenTwoFiveYears2016-09-3002221731ns5:BetweenTwoFiveYears2015-06-3002221731ns7:OrdinaryShareClass12016-09-3002221731ns7:OrdinaryShareClass12015-06-30
REGISTERED NUMBER: 02221731(England and Wales)















Unaudited Financial Statements for the Period 1 July 2015 to 30 September 2016

for

Swift Chem-tex Limited

Swift Chem-tex Limited (Registered number: 02221731)






Contents of the Financial Statements
for the Period 1 July 2015 to 30 September 2016




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Swift Chem-tex Limited

Company Information
for the Period 1 July 2015 to 30 September 2016







DIRECTORS: Mr A Brandt
Mrs I Einav





SECRETARY: Mr A Brandt





REGISTERED OFFICE: 191 Wigston Lane
Leicester
Leicestershire
LE2 8DJ





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 2016

30.9.16 30.6.15
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 1,172 1,640

CURRENT ASSETS
Stocks 38,400 89,250
Debtors 3 23,398 53,844
Cash in hand 136 968
61,934 144,062
CREDITORS
Amounts falling due within one year 4 444,574 442,112
NET CURRENT LIABILITIES (382,640 ) (298,050 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(381,468

)

(296,410

)

CREDITORS
Amounts falling due after more than one
year

5

-

580
NET LIABILITIES (381,468 ) (296,990 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and loss account 9 (381,568 ) (297,090 )
SHAREHOLDERS' FUNDS (381,468 ) (296,990 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2016 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.

The financial statements were approved by the Board of Directors on 25 January 2018and were signed on its
behalf by:





Mr A Brandt- Director


Swift Chem-tex Limited (Registered number: 02221731)

Notes to the Financial Statements
for the Period 1 July 2015 to 30 September 2016

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 January 2015).

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

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.

Land and buildings - 2% per annum on cost
Plant and machinery etc - 25% on cost 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 provided in full on timing differences which result in an obligation at the balance sheet date
to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise,
based on current tax rates and law. Timing differences arise from the inclusion of items of income and
expenditure in taxation computations in periods different from those in which they are included in the
financial statements.

Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be
recovered. Deferred tax assets and liabilities are not discounted.

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.

Going concern
The financial statements have been prepared on the going concern basis which assumes that the company
will continue in operational existence for the foreseeable future (see note 12).

2. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2015
and 30 September 2016 7,886 29,824 37,710
DEPRECIATION
At 1 July 2015 7,886 28,184 36,070
Charge for period - 468 468
At 30 September 2016 7,886 28,652 36,538
NET BOOK VALUE
At 30 September 2016 - 1,172 1,172
At 30 June 2015 - 1,640 1,640

Swift Chem-tex Limited (Registered number: 02221731)

Notes to the Financial Statements - continued
for the Period 1 July 2015 to 30 September 2016

2. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2015
and 30 September 2016 8,356
DEPRECIATION
At 1 July 2015 7,375
Charge for period 402
At 30 September 2016 7,777
NET BOOK VALUE
At 30 September 2016 579
At 30 June 2015 981

3. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.16 30.6.15
£    £   
Trade debtors 8,546 38,992
Other debtors 14,852 14,852
23,398 53,844

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.16 30.6.15
£    £   
Bank loans and overdrafts 9,657 3,488
Hire purchase contracts - 216
Trade creditors 114,583 124,873
Taxation and social security 25,639 19,973
Other creditors 294,695 293,562
444,574 442,112

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.16 30.6.15
£    £   
Bank loans - 580

6. LOANS

An analysis of the maturity of loans is given below:

30.9.16 30.6.15
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 9,657 3,488

Amounts falling due between two and five years:
Bank loans - 2-5 years - 580

7. OPERATING LEASE COMMITMENTS

Swift Chem-tex Limited (Registered number: 02221731)

Notes to the Financial Statements - continued
for the Period 1 July 2015 to 30 September 2016

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.16 30.6.15
value: £    £   
100 Ordinary shares £1 100 100

9. RESERVES
Profit
and loss
account
£   

At 1 July 2015 (297,090 )
Deficit for the period (84,478 )
At 30 September 2016 (381,568 )

10. RELATED PARTY DISCLOSURES

During the period company paid a rent of £nil (2015 - £8,690) to the directors.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs I Einav.

12. GOING CONCERN

The company's liabilities exceed the assets by £381,468. The directors' anticipates that the company will
continue to meet its day to day working capital requirements through existing relationship with the creditors.