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REGISTERED NUMBER: 13938864 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 24 FEBRUARY 2022 TO 28 FEBRUARY 2023

FOR

SWIM NOW UK TRADING LTD

SWIM NOW UK TRADING LTD (REGISTERED NUMBER: 13938864)

CONTENTS OF THE FINANCIAL STATEMENTS
for the period 24 February 2022 to 28 February 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


SWIM NOW UK TRADING LTD

COMPANY INFORMATION
for the period 24 February 2022 to 28 February 2023







DIRECTORS: A Mills
Mrs F Mills





REGISTERED OFFICE: 12 Alma Square
Scarborough
North Yorkshire
YO11 1JU





REGISTERED NUMBER: 13938864 (England and Wales)

SWIM NOW UK TRADING LTD (REGISTERED NUMBER: 13938864)

STATEMENT OF FINANCIAL POSITION
28 February 2023

Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 1,821
Investments 5 92,218
94,039

CURRENT ASSETS
Debtors 6 256,289
Cash at bank and in hand 184,615
440,904
CREDITORS
Amounts falling due within one year 7 533,688
NET CURRENT LIABILITIES (92,784 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,255

PROVISIONS FOR LIABILITIES 455
NET ASSETS 800

CAPITAL AND RESERVES
Called up share capital 2
Retained earnings 798
800

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 22 November 2023 and were signed on its behalf by:





A Mills - Director


SWIM NOW UK TRADING LTD (REGISTERED NUMBER: 13938864)

NOTES TO THE FINANCIAL STATEMENTS
for the period 24 February 2022 to 28 February 2023


1. STATUTORY INFORMATION

Swim Now Uk Trading Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The company has a net asset position and a healthy bank position and the directors are satisfied that there are sufficient resources in place to continue operating for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Swim Now Uk Trading Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

Critical judgements in applying the company's policies
Impairment of investment
The management judge that there has been a long term impairment of the company's investment in its subsidiary companies based on their future earnings potential.

Critical accounting estimates and assumptions
The directors do not consider that any other estimates and assumptions used in the preparation of these financial statements have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Items of property, plant and equipment are initially measured at cost. After initial recognition items of property, plant and equipment are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life.
Fixtures and fittings -15% on cost
Computer equipment -33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are initially measured at cost. After initial recognition investments in subsidiary undertakings are measured at cost less any accumulated impairment losses.

SWIM NOW UK TRADING LTD (REGISTERED NUMBER: 13938864)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 24 February 2022 to 28 February 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans to related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method.

Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Pension costs and other post-retirement benefits
Payments to defined contribution pension schemes are charged as an expense in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 65 .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
Additions 850 1,172 2,022
At 28 February 2023 850 1,172 2,022
DEPRECIATION
Charge for period 63 138 201
At 28 February 2023 63 138 201
NET BOOK VALUE
At 28 February 2023 787 1,034 1,821

SWIM NOW UK TRADING LTD (REGISTERED NUMBER: 13938864)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 24 February 2022 to 28 February 2023


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 499,531
Impairments (407,313 )
At 28 February 2023 92,218
NET BOOK VALUE
At 28 February 2023 92,218

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 5,692
Amounts owed by group undertakings 90,597
Other debtors 160,000
256,289

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 8,959
Amounts owed to group undertakings 99,101
Taxation and social security 87,660
Other creditors 337,968
533,688

8. RELATED PARTY DISCLOSURES

No dividends have been paid to the company's directors.

The directors have made interest free loans to the company. At the year end the amount owed to them was £151,013.