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REGISTERED NUMBER: 02099321 (England and Wales)















SWIFTDALE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






SWIFTDALE LIMITED (REGISTERED NUMBER: 02099321)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


SWIFTDALE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: S J Hollands
J R Birch





REGISTERED OFFICE: 3 Castlegate
Grantham
Lincolnshire
NG31 6SF





REGISTERED NUMBER: 02099321 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF

SWIFTDALE LIMITED (REGISTERED NUMBER: 02099321)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 330,657 330,668

CURRENT ASSETS
Debtors 5 2,475 23,277
Cash at bank and in hand 242,843 303,565
245,318 326,842
CREDITORS
Amounts falling due within one year 6 3,532 36,389
NET CURRENT ASSETS 241,786 290,453
TOTAL ASSETS LESS CURRENT LIABILITIES 572,443 621,121

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 572,343 621,021
SHAREHOLDERS' FUNDS 572,443 621,121

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

The members have not required the company to obtain an audit of its financial statements for the year 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:





J R Birch - Director


SWIFTDALE LIMITED (REGISTERED NUMBER: 02099321)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Swiftdale 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.

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.

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.
Improvements to property - 15% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 33% on cost

Tangible fixed assets are held at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


SWIFTDALE LIMITED (REGISTERED NUMBER: 02099321)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued
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 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 328,730 24,114 35,898 80,300 469,042
Additions - - - 2,555 2,555
At 28 February 2023 328,730 24,114 35,898 82,855 471,597
DEPRECIATION
At 1 March 2022 - 24,114 35,898 78,362 138,374
Charge for year - - - 2,566 2,566
At 28 February 2023 - 24,114 35,898 80,928 140,940
NET BOOK VALUE
At 28 February 2023 328,730 - - 1,927 330,657
At 28 February 2022 328,730 - - 1,938 330,668

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,455 2,007
Prepayments and accrued income 1,020 21,270
2,475 23,277

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,032 32,189
Accruals and deferred income 2,500 4,200
3,532 36,389

SWIFTDALE LIMITED (REGISTERED NUMBER: 02099321)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 'A' Ordinary £1 50 50
50 'B' Ordinary £1 50 50
100 100