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REGISTERED NUMBER: 10653000 (England and Wales)















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: Dr J Rankine
Mrs L Rankine





REGISTERED OFFICE: 3 Park Square
Leeds
LS1 2NE





REGISTERED NUMBER: 10653000 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
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 - 2,173
Investments 5 190,282 183,602
190,282 185,775

CURRENT ASSETS
Debtors 6 72,979 -
Cash at bank 185,035 180,281
258,014 180,281
CREDITORS
Amounts falling due within one year 7 58,860 53,741
NET CURRENT ASSETS 199,154 126,540
TOTAL ASSETS LESS CURRENT
LIABILITIES

389,436

312,315

CREDITORS
Amounts falling due after more than one
year

8

19,999

28,092
NET ASSETS 369,437 284,223

CAPITAL AND RESERVES
Called up share capital 9 3,000 3,000
Retained earnings 366,437 281,223
SHAREHOLDERS' FUNDS 369,437 284,223

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Swarthwaite Limited (Registered number: 10653000)

Balance Sheet - continued
31 May 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 Board of Directors and authorised for issue on 24 January 2024 and were signed on its behalf by:





Dr J Rankine - Director


Swarthwaite Limited (Registered number: 10653000)

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

1. STATUTORY INFORMATION

Swarthwaite 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 as modified by the revaluation of certain assets.

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 1 (2022 - 1 ) .

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 10,857
AMORTISATION
At 1 June 2022 8,684
Amortisation for year 2,173
At 31 May 2023 10,857
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 2,173

5. FIXED ASSET INVESTMENTS
Interest
in Listed
associate investments Totals
£    £    £   
COST OR VALUATION
At 1 June 2022 3,000 180,602 183,602
Additions - 2,278 2,278
Revaluations - 4,402 4,402
At 31 May 2023 3,000 187,282 190,282
NET BOOK VALUE
At 31 May 2023 3,000 187,282 190,282
At 31 May 2022 3,000 180,602 183,602

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 46,709 -
Corporation tax recoverable 6,629 -
Directors' current accounts 19,641 -
72,979 -

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 10,734 6,241
Amounts owed to related undertakings 38,533 38,533
Loan creditor 8,093 7,210
Directors' current accounts - 257
Accrued expenses 1,500 1,500
58,860 53,741

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Loan creditor 19,999 28,092

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: £    £   
3,000 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.