Registered number
07668409
SWAN PROPERTY MANAGEMENT (CRAWLEY) LTD
Filleted Accounts
31 March 2023
SWAN PROPERTY MANAGEMENT (CRAWLEY) LTD
Registered number: 07668409
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 781,032 809,992
Current assets
Debtors 4 6,092 20,000
Investments held as current assets 5 330,009 250,009
Cash at bank and in hand 155,447 135,488
491,548 405,497
Creditors: amounts falling due within one year 6 (112,228) (120,798)
Net current assets 379,320 284,699
Total assets less current liabilities 1,160,352 1,094,691
Creditors: amounts falling due after more than one year 7 (373,975) (404,211)
Net assets 786,377 690,480
Capital and reserves
Called up share capital 10 10
Profit and loss account 786,367 690,470
Shareholders' funds 786,377 690,480
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J P Davies
Director
Approved by the board on 8 November 2023
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 750,232 26,354 112,962 889,548
At 31 March 2023 750,232 26,354 112,962 889,548
Depreciation
At 1 April 2022 - 22,747 56,809 79,556
Charge for the year - 721 28,239 28,960
At 31 March 2023 - 23,468 85,048 108,516
Net book value
At 31 March 2023 750,232 2,886 27,914 781,032
At 31 March 2022 750,232 3,607 56,153 809,992
4 Debtors 2023 2022
£ £
Other debtors 6,092 20,000
5 Investments held as current assets 2023 2022
£ £
Fair value
Listed investments 330,000 250,000
Unlisted investments 9 9
330,009 250,009
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 48,221 39,596
Taxation and social security costs 58,343 60,929
Other creditors 5,664 20,273
112,228 120,798
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 373,975 404,211
8 Other information
SWAN PROPERTY MANAGEMENT (CRAWLEY) LTD is a private company limited by shares and incorporated in England. Its registered office is:
1 Brittingham House
Orchrd Street
Crawley
West Sussex
RH11 7AE
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