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REGISTERED NUMBER: 06768722 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Swift TG Solutions Limited

Swift TG Solutions Limited (Registered number: 06768722)






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


Swift TG Solutions Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: D I Stanbridge





REGISTERED OFFICE: Hanger 2 Scottow Enterprise Park
Lamas Road
Badersfield
Norwich
Norfolk
NR10 5FB





REGISTERED NUMBER: 06768722 (England and Wales)





ACCOUNTANTS: Steve Pye & Co.
Chartered Certified Accountants
Unit 3
North Lynn Business Village
Bergen Way
King's Lynn
Norfolk
PE30 2JG

Swift TG Solutions Limited (Registered number: 06768722)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,564 58,867

CURRENT ASSETS
Debtors 5 651,964 360,553
Cash at bank 275,859 789,178
927,823 1,149,731
CREDITORS
Amounts falling due within one year 6 243,753 674,059
NET CURRENT ASSETS 684,070 475,672
TOTAL ASSETS LESS CURRENT
LIABILITIES

699,634

534,539

CREDITORS
Amounts falling due after more than one year 7 (92,942 ) (133,242 )

PROVISIONS FOR LIABILITIES (14,933 ) (14,933 )
NET ASSETS 591,759 386,364

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 591,659 386,264
591,759 386,364

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 Solutions Limited (Registered number: 06768722)

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 Solutions Limited (Registered number: 06768722)

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

1. STATUTORY INFORMATION

Swift TG Solutions 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.

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.

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, of held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery 25% straight line

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.

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.

Swift TG Solutions Limited (Registered number: 06768722)

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

2. ACCOUNTING POLICIES - continued

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 276,901
DEPRECIATION
At 1 April 2022 218,034
Charge for year 43,303
At 31 March 2023 261,337
NET BOOK VALUE
At 31 March 2023 15,564
At 31 March 2022 58,867

Swift TG Solutions Limited (Registered number: 06768722)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 148,993
DEPRECIATION
At 1 April 2022 108,640
Charge for year 37,248
At 31 March 2023 145,888
NET BOOK VALUE
At 31 March 2023 3,105
At 31 March 2022 40,353

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 146,580 118,390
Amounts owed by group undertakings 291,745 240,497
Other debtors 213,639 1,666
651,964 360,553

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50 50
Finance leases (see note 8) 63,645 84,336
Payments on account - 586,731
Trade creditors 177,831 1,827
Amounts owed to group undertakings 477 477
Taxation and social security - 188
Other creditors 1,750 450
243,753 674,059

Swift TG Solutions Limited (Registered number: 06768722)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 42,948 50,000
Finance leases (see note 8) 49,994 83,242
92,942 133,242

8. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
2023 2022
£    £   
Net obligations repayable:
Within one year 63,645 84,336
Between one and five years 49,994 83,242
113,639 167,578

9. RESERVES
Retained
earnings
£   

At 1 April 2022 386,264
Profit for the year 205,395
At 31 March 2023 591,659

10. 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.