Swift Cleaner Services Ltd Filleted Accounts Cover
Swift Cleaner Services Ltd
Company No. 04721781
Information for Filing with The Registrar
31 March 2023
Swift Cleaner Services Ltd Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 March 2023.
Principal activities
The principal activity of the company during the year under review was commercial cleaning services.
Directors
The Directors who served at any time during the year were as follows:
Colin Carter
Patricia Cooper
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
Colin Carter
Director
12 October 2023
Swift Cleaner Services Ltd Balance Sheet Registrar
at
31 March 2023
Company No.
04721781
Notes
2023
2022
£
£
Fixed assets
Intangible assets
5
--
Tangible assets
6
3,6093,703
3,6093,703
Current assets
Stocks
7
500500
Debtors
8
28,22425,225
Cash at bank and in hand
64,82358,016
93,54783,741
Creditors: Amount falling due within one year
9
(59,959)
(57,748)
Net current assets
33,58825,993
Total assets less current liabilities
37,19729,696
Creditors: Amounts falling due after more than one year
10
(12,916)
(17,967)
Net assets
24,28111,729
Capital and reserves
Called up share capital
22
Profit and loss account
12
24,27911,727
Total equity
24,28111,729
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2023 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 12 October 2023
And signed on its behalf by:
Colin Carter
Director
12 October 2023
Swift Cleaner Services Ltd Notes to the Accounts Registrar
for the year ended 31 March 2023
1
General information
Its registered number is: 04721781
Its registered office is:
Unit C17 Kestrel Business
Private Road 2
Colwick Industrial Estate
Nottingham
NG4 2JR
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
Going concern
The financial statements have been prepared on the going concern basis. The directors are not aware of any material threats which might affect the ability of the company to continue to trade for the foreseeable future.
2
Accounting policies
Turnover
Turnover represents the fair value of the consideration receivable in respect of services provided during the year. Where the outcome of a transaction can be estimated reliably, revenue associated with the transaction is recognised in the income statement by reference to the stage of completion at the year end.
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Financial instruments
Financial assets
Basic financial assets, including trade and other receivables and cash and bank balances, are recognised and carried forward at transaction price. Financial assets are derecognised when:
(a) The contractual rights to the cash flows from the asset expire or are settled;
(b) Substantially all the risks and rewards of the ownership of the asset are transferred to another party; or
(c) Control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, and loans from third parties are initially recognised and carried forward at transaction price.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
The company has only financial assets and financial liabilities of a kind that qualify as a basic financial instruments. Basic financial instruments are recognised initially at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method.
Grants receivable
Grants from the government are recognised at their fair value when there is a reasonable assurance that the grant will be received and the company will comply with the relevant conditions.
Amounts receivable are recognised in the Profit and Loss account Grant accounting has been applied to the amount receivable under the Job Retention Scheme.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
1312
4
Other operating income:
2023
2022
£
£
Coronavirus Job Retention Scheme grants
22,550
-
22,550
5
Intangible fixed assets
Goodwill
Total
£
£
Cost
At 1 April 2022
65,00065,000
At 31 March 2023
65,00065,000
Amortisation and impairment
At 1 April 2022
65,00065,000
At 31 March 2023
65,00065,000
Net book values
At 31 March 2023
--
At 31 March 2022
--
6
Tangible fixed assets
Motor vehicles
Fixtures, fittings and equipment
Total
£
£
£
Cost or revaluation
At 1 April 2022
7,85029,11836,968
Additions
-873873
At 31 March 2023
7,85029,99137,841
Depreciation
At 1 April 2022
5,25128,01433,265
Charge for the year
650317967
At 31 March 2023
5,90128,33134,232
Net book values
At 31 March 2023
1,9491,6603,609
At 31 March 2022
2,599
1,104
3,703
7
Stocks
2023
2022
£
£
Raw materials and consumables
500500
500500
8
Debtors
2023
2022
£
£
Trade debtors
25,83922,990
Prepayments and accrued income
2,3852,235
28,22425,225
9
Creditors:
amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,0004,999
Trade creditors
824800
Taxes and social security
29,375
28,778
Loans from directors
22,46022,221
Accruals and deferred income
2,300950
59,95957,748
10
Creditors:
amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
12,91617,967
12,91617,967
11
Share Capital
Share capital consists of 2Ordinary Shares of £1 each, which are fully paid
12
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
13
Dividends
2023
2022
£
£
Dividends for the period:
Dividends paid in the period
30,000
60,000
30,000
60,000
Dividends by type:
Non-equity preference dividends
--
Equity dividends
30,00060,000
30,000
60,000
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