REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2023 |
for |
Swarthwaite Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2023 |
for |
Swarthwaite Limited |
Swarthwaite Limited (Registered number: 10653000) |
Contents of the Financial Statements |
for the Year Ended 31 May 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Swarthwaite Limited |
Company Information |
for the Year Ended 31 May 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
3 Park Square |
Leeds |
LS1 2NE |
Swarthwaite Limited (Registered number: 10653000) |
Balance Sheet |
31 May 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Swarthwaite Limited (Registered number: 10653000) |
Balance Sheet - continued |
31 May 2023 |
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 |
Swarthwaite Limited (Registered number: 10653000) |
Notes to the Financial Statements |
for the Year Ended 31 May 2023 |
1. | STATUTORY INFORMATION |
Swarthwaite Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of services provided, excluding value added tax. |
Goodwill |
Goodwill is depreciated on a straight line basis over 5 years. |
Investments in associates |
Investments in associate undertakings are recognised at 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. |
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 |
Swarthwaite Limited (Registered number: 10653000) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 June 2022 |
and 31 May 2023 |
AMORTISATION |
At 1 June 2022 |
Amortisation for year |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
5. | FIXED ASSET INVESTMENTS |
Interest |
in | Listed |
associate | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 June 2022 | 183,602 |
Additions | 2,278 |
Revaluations | 4,402 |
At 31 May 2023 | 190,282 |
NET BOOK VALUE |
At 31 May 2023 | 190,282 |
At 31 May 2022 | 183,602 |
Cost or valuation at 31 May 2023 is represented by: |
Interest |
in | Listed |
associate | investments | Totals |
£ | £ | £ |
Valuation in 2023 | 3,000 | 187,282 | 190,282 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Corporation tax recoverable |
Directors' current accounts | 19,641 | - |
Swarthwaite Limited (Registered number: 10653000) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Corporation tax |
Amounts owed to related undertakings |
Loan creditor | 8,093 | 7,210 |
Directors' current accounts | - | 257 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Loan creditor |
The bank loan represents a loan under HM Government Coronavirus Business Bounce Back Loan Scheme. |
The loan carries an interest rate of 2.5% per annum and it is repayable in accordance with the rules of the scheme. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 3,000 | 3,000 |
10. | RELATED PARTY DISCLOSURES |
During the year the company raised invoices totalling £80,000 (2022: £80,000) to Skeletal Imaging Limited, a company of which Dr J Rankine and Mrs L Rankine are both directors. |
At 31 May 2023 the company owed an amount of £38,533 (2022: £38,533) to Skeletal Imaging Limited. |
At 31 May 2023 the company was owed an amount of £19,641 (2022: £Nil) from its directors. |
During the year the company paid dividends totalling £20,000 (2022: £70,000) to its directors. |
11. | ULTIMATE CONTROLLING PARTY |
The company is under the ultimate control of its directors. |