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REGISTERED NUMBER: 09978515 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE PERIOD 1 MARCH 2022 TO 31 MAY 2023

FOR

SWIFT ASSIST LIMITED

SWIFT ASSIST LIMITED (REGISTERED NUMBER: 09978515)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MARCH 2022 TO 31 MAY 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SWIFT ASSIST LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 MARCH 2022 TO 31 MAY 2023







DIRECTORS: Mr M J Greevy
Mr T Greevy





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 09978515 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

SWIFT ASSIST LIMITED (REGISTERED NUMBER: 09978515)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,491,332 1,467,367
Investments 5 100,000 -
2,591,332 1,467,367

CURRENT ASSETS
Debtors 6 1,394,430 720,646
Cash at bank 505,509 416,372
1,899,939 1,137,018
CREDITORS
Amounts falling due within one year 7 1,045,903 436,489
NET CURRENT ASSETS 854,036 700,529
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,445,368

2,167,896

CREDITORS
Amounts falling due after more than one
year

8

(955,493

)

(432,967

)

PROVISIONS FOR LIABILITIES (517,478 ) (299,208 )
NET ASSETS 1,972,397 1,435,721

CAPITAL AND RESERVES
Called up and paid share capital 100 100
Retained earnings 1,972,297 1,435,621
SHAREHOLDERS' FUNDS 1,972,397 1,435,721

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

SWIFT ASSIST LIMITED (REGISTERED NUMBER: 09978515)

STATEMENT OF FINANCIAL POSITION - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 January 2024 and were signed on its behalf by:





Mr M J Greevy - Director


SWIFT ASSIST LIMITED (REGISTERED NUMBER: 09978515)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MARCH 2022 TO 31 MAY 2023


1. STATUTORY INFORMATION

Swift Assist 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.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on reducing balance

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the period 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.

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.

SWIFT ASSIST LIMITED (REGISTERED NUMBER: 09978515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2022 TO 31 MAY 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 period was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 2,377,829
Additions 1,707,612
Disposals (288,560 )
At 31 May 2023 3,796,881
DEPRECIATION
At 1 March 2022 910,462
Charge for period 578,112
Eliminated on disposal (183,025 )
At 31 May 2023 1,305,549
NET BOOK VALUE
At 31 May 2023 2,491,332
At 28 February 2022 1,467,367

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 100,000
At 31 May 2023 100,000
NET BOOK VALUE
At 31 May 2023 100,000

SWIFT ASSIST LIMITED (REGISTERED NUMBER: 09978515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2022 TO 31 MAY 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 479,430 100,000
Amounts owed by associates 915,000 620,646
1,394,430 720,646

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 638,885 291,074
Trade creditors 15,457 9,825
Amounts owed to associates 232,854 -
Taxation and social security 101,671 84,572
Other creditors 57,036 51,018
1,045,903 436,489

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 735,493 272,967
Other creditors 220,000 160,000
955,493 432,967

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 1,374,378 564,041