Company Registration No. 10408051 (England and Wales)
SWITCHD LTD
Unaudited accounts
for the year ended 31 October 2022
SWITCHD LTD
Unaudited accounts
Contents
SWITCHD LTD
Company Information
for the year ended 31 October 2022
Directors
Mr L. Kinch
Mr T. Rogers
Mr M. Whitfield
Company Number
10408051 (England and Wales)
Registered Office
INTERNATIONAL HOUSE
24 Holborn Viaduct
LONDON
EC1A 2BN
Accountants
SQK Accountancy Limited
275 Deansgate
Manchester
North West England
M3 4EL
SWITCHD LTD
Accountants' report
Accountants' report to the board of directors of SWITCHD LTD on the preparation of the unaudited statutory accounts for the year ended 31 October 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
SWITCHD LTD for the year ended
31 October 2022 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of SWITCHD LTD, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of SWITCHD LTD and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SWITCHD LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that SWITCHD LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of SWITCHD LTD. You consider that SWITCHD LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of SWITCHD LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
SQK Accountancy Limited
275 Deansgate
Manchester
North West England
M3 4EL
8 December 2022
SWITCHD LTD
Statement of financial position
as at 31 October 2022
Tangible assets
10,567
3,487
Cash at bank and in hand
461,279
337,630
Creditors: amounts falling due within one year
(291,150)
(73,842)
Net current assets
650,720
403,539
Net assets
661,288
407,027
Called up share capital
2
2
Share premium
2,662,332
1,677,031
Profit and loss account
(2,001,046)
(1,270,006)
Shareholders' funds
661,288
407,027
For the year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2022 and were signed on its behalf by
Mr L. Kinch
Director
Company Registration No. 10408051
SWITCHD LTD
Notes to the Accounts
for the year ended 31 October 2022
SWITCHD LTD is a private company, limited by shares, registered in England and Wales, registration number 10408051. The registered office is INTERNATIONAL HOUSE, 24 Holborn Viaduct, LONDON, EC1A 2BN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 October 2022 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 November 2020.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
SWITCHD LTD
Notes to the Accounts
for the year ended 31 October 2022
5
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Trade debtors
153,412
70,499
Accrued income and prepayments
187,084
-
7
Creditors: amounts falling due within one year
2022
2021
Trade creditors
38,552
7,923
Taxes and social security
56,208
13,906
Deferred income
36,417
46,579
8
Average number of employees
During the year the average number of employees was 21 (2021: 11).