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REGISTERED NUMBER: SC356586 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Swift TG Energy (Scotland) Limited

Swift TG Energy (Scotland) Limited (Registered number: SC356586)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Swift TG Energy (Scotland) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: D I Stanbridge





REGISTERED OFFICE: 23 West Harbour Road
Edinburgh
EH5 1PN





REGISTERED NUMBER: SC356586 (Scotland)






Swift TG Energy (Scotland) Limited (Registered number: SC356586)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,138 27,958

CURRENT ASSETS
Debtors 5 9,901 13,495
Cash at bank 4,877 5,630
14,778 19,125
CREDITORS
Amounts falling due within one year 6 95,755 71,747
NET CURRENT LIABILITIES (80,977 ) (52,622 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(54,839

)

(24,664

)

CREDITORS
Amounts falling due after more than one
year

7

(2,175,093

)

(2,035,250

)

ACCRUALS AND DEFERRED INCOME (11,427 ) (4,612 )
NET LIABILITIES (2,241,359 ) (2,064,526 )

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings (2,251,359 ) (2,074,526 )
(2,241,359 ) (2,064,526 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Swift TG Energy (Scotland) Limited (Registered number: SC356586)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 May 2023 and were signed by:





D I Stanbridge - Director


Swift TG Energy (Scotland) Limited (Registered number: SC356586)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Swift TG Energy (Scotland) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared on a going concern basis of accounting

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.
Plant and machinery etc - 25% on cost

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Swift TG Energy (Scotland) Limited (Registered number: SC356586)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 36,402 29,710 66,112
DEPRECIATION
At 1 April 2022 8,444 29,710 38,154
Charge for year 1,820 - 1,820
At 31 March 2023 10,264 29,710 39,974
NET BOOK VALUE
At 31 March 2023 26,138 - 26,138
At 31 March 2022 27,958 - 27,958

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings - 7,524
Other debtors 9,901 5,971
9,901 13,495

Swift TG Energy (Scotland) Limited (Registered number: SC356586)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 137,316 85,817
Taxation and social security (42,411 ) (14,920 )
Other creditors 850 850
95,755 71,747

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The holding company Swift Technology group limited has agreed that the inter company loan will not be repaid in the foreseeable future.

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The Ultimate Holding company is Swift Technology Group Ltd, which this company is dependent on the continuing support of.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Swift TG Energy (Scotland) Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Swift TG Energy (Scotland) Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Swift TG Energy (Scotland) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Swift TG Energy (Scotland) Limited and state those matters that we have agreed to state to the director of Swift TG Energy (Scotland) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Swift TG Energy (Scotland) Limited and its director for our work or for this report.

It is your duty to ensure that Swift TG Energy (Scotland) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Swift TG Energy (Scotland) Limited. You consider that Swift TG Energy (Scotland) Limited 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 financial statements of Swift TG Energy (Scotland) Limited. 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 financial statements.








31 May 2023