Company Registration No. 11574451 (England and Wales)
Swift Improvements Ltd
Unaudited accounts
for the year ended 31 March 2024
Swift Improvements Ltd
Unaudited accounts
Contents
Swift Improvements Ltd
Company Information
for the year ended 31 March 2024
Company Number
11574451 (England and Wales)
Registered Office
43A Ashbrow Road
Huddersfield
West Yorkshire
HD2 1DX
Accountants
Small Business Accountancy
18 Stoney Hill
Rastrick
Brighouse
West Yorkshire
HD6 3BP
Swift Improvements Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
6,006
1,447
Cash at bank and in hand
2,733
868
Creditors: amounts falling due within one year
(4,793)
(3,403)
Net current liabilities
(726)
(1,106)
Total assets less current liabilities
5,280
341
Provisions for liabilities
Called up share capital
1
1
Profit and loss account
4,138
65
Shareholders' funds
4,139
66
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 April 2024 and were signed on its behalf by
A. Swift
Director
Company Registration No. 11574451
Swift Improvements Ltd
Notes to the Accounts
for the year ended 31 March 2024
Swift Improvements Ltd is a private company, limited by shares, registered in England and Wales, registration number 11574451. The registered office is 43A Ashbrow Road, Huddersfield, West Yorkshire, HD2 1DX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
Computer equipment
25% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Swift Improvements Ltd
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
1,666
-
904
2,570
Additions
787
5,300
-
6,087
At 31 March 2024
2,453
5,300
904
8,657
At 1 April 2023
634
-
489
1,123
Charge for the year
364
1,060
104
1,528
At 31 March 2024
998
1,060
593
2,651
At 31 March 2024
1,455
4,240
311
6,006
At 31 March 2023
1,032
-
415
1,447
Amounts falling due within one year
Accrued income and prepayments
1,094
520
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
613
2,575
Loans from directors
1,862
35
7
Deferred taxation
2024
2023
Accelerated capital allowances
1,141
275
Provision at start of year
275
205
Charged to the profit and loss account
866
70
Provision at end of year
1,141
275
Swift Improvements Ltd
Notes to the Accounts
for the year ended 31 March 2024
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
9
Transactions with related parties
The company is in receipt of a loan amounting to £1,862.00 from a member of key management personnel. The loan is payable on demand and the rate of interest charged is 0%. At the balance sheet date, the loan was still outstanding and is presented within creditors: amounts falling due within one year.
During the year, total dividends of £2,500 (2023: £17,100) were paid to the director.
10
Average number of employees
During the year the average number of employees was 2 (2023: 1).