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REGISTERED NUMBER: 01965870 (England and Wales)



















SWORDSHINE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






SWORDSHINE LIMITED (REGISTERED NUMBER: 01965870)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


SWORDSHINE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: Mr N S Khera
Ms H M Khera
Mr A S Khera





SECRETARY: Ms H M Khera





REGISTERED OFFICE: 84 Westbourne Park Road
London
W2 5PL





REGISTERED NUMBER: 01965870 (England and Wales)





ACCOUNTANTS: Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS

SWORDSHINE LIMITED (REGISTERED NUMBER: 01965870)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 14,692 17,514
Investment property 6 7,638,713 7,605,883
7,653,405 7,623,397

CURRENT ASSETS
Debtors 7 25,140 30,660
Cash at bank 464,541 585,419
489,681 616,079
CREDITORS
Amounts falling due within one year 8 47,927 39,746
NET CURRENT ASSETS 441,754 576,333
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,095,159

8,199,730

CREDITORS
Amounts falling due after more than one
year

9

(3,094,573

)

(3,064,222

)

PROVISIONS FOR LIABILITIES 10 (990,274 ) (1,023,476 )
NET ASSETS 4,010,312 4,112,032

CAPITAL AND RESERVES
Called up share capital 200 200
Fair value reserve 11 3,411,872 3,411,872
Retained earnings 598,240 699,960
SHAREHOLDERS' FUNDS 4,010,312 4,112,032

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

SWORDSHINE LIMITED (REGISTERED NUMBER: 01965870)

BALANCE SHEET - continued
30 SEPTEMBER 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2024 and were signed on its behalf by:





Mr A S Khera - Director


SWORDSHINE LIMITED (REGISTERED NUMBER: 01965870)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Swordshine 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified to include investment properties measured at fair value through profit or loss.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. The estimates and underlying assumptions are reviewed on an ongoing basis.

Turnover
Turnover is recognised at the fair value of the consideration receivable in respect of services provided in the normal course of business. The turnover of the company is represented by rents and charges receivable in respect of the company's investment portfolio.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. It is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


SWORDSHINE LIMITED (REGISTERED NUMBER: 01965870)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 October 2022
and 30 September 2023 60,787 9,565 70,352
DEPRECIATION
At 1 October 2022 45,226 7,612 52,838
Charge for year 2,334 488 2,822
At 30 September 2023 47,560 8,100 55,660
NET BOOK VALUE
At 30 September 2023 13,227 1,465 14,692
At 30 September 2022 15,561 1,953 17,514

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 7,605,883
Additions 32,830
At 30 September 2023 7,638,713
NET BOOK VALUE
At 30 September 2023 7,638,713
At 30 September 2022 7,605,883

The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the company's directors who have the experience and expertise required to undertake such an exercise. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties in the same location.

The historical cost of investment properties at 30 September 2023 is £3,136,175.

SWORDSHINE LIMITED (REGISTERED NUMBER: 01965870)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 25,140 30,660

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 3,714 127
Other creditors 44,213 39,619
47,927 39,746

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 3,094,573 3,064,222

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years by
non-instalments

3,094,573

3,064,222

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 990,274 1,023,476

Deferred
tax
£   
Balance at 1 October 2022 1,023,476
Credit to Profit and Loss Account during year (33,202 )
Balance at 30 September 2023 990,274

Deferred tax arises from the revaluation of investment properties and accelerated capital allowances, reduced by the availability of tax losses carried forward.

11. RESERVES
Fair
value
reserve
£   
At 1 October 2022
and 30 September 2023 3,411,872