REGISTERED NUMBER: 02221731 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2018

for

Swift Chem-tex Limited

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

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

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 2019 and were signed on its behalf by:

Mr A Brandt - Director

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.

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

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.