2022-08-012023-07-312023-07-31false10267516SWERDNA TRANSPORT 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SWERDNA TRANSPORT LTD

Registered Number
10267516
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

SWERDNA TRANSPORT LTD
Company Information
for the year from 1 August 2022 to 31 July 2023

Director

ANDREWS, Christopher

Registered Address

Hambledon Ableton Lane
Severn Beach
Bristol
BS35 4PP

Registered Number

10267516 (England and Wales)
SWERDNA TRANSPORT LTD
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets4738,794572,353
738,794572,353
Current assets
Debtors5472,811336,402
Cash at bank and on hand6914,545
473,502340,947
Creditors amounts falling due within one year6(726,012)(486,065)
Net current assets (liabilities)(252,510)(145,118)
Total assets less current liabilities486,284427,235
Creditors amounts falling due after one year(422,239)(378,559)
Provisions for liabilities8(18,830)(11,727)
Net assets45,21536,949
Capital and reserves
Profit and loss account45,21536,949
Shareholders' funds45,21536,949
The financial statements were approved and authorised for issue by the Director on 17 April 2024, and are signed on its behalf by:
ANDREWS, Christopher
Director
Registered Company No. 10267516
SWERDNA TRANSPORT LTD
Notes to the Financial Statements
for the year ended 31 July 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery5
Vehicles10
Office Equipment5
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20232022
Average number of employees during the year74
3.Prior period adjustment
As the company no longer meets the criteria to report under FRS105. It must now prepare accounts in accordance with FRS102 Section 1A. As a result the prior year figures have been restated to provide for Deferred Tax. The impact of the change in accounting method is a reduction in the brought forward equity as at 1 August 2022 from £48,677 to £36,950.
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 August 22628,948
Additions249,091
At 31 July 23878,039
Depreciation and impairment
At 01 August 2256,595
Charge for year82,650
At 31 July 23139,245
Net book value
At 31 July 23738,794
At 31 July 22572,353
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables415,234254,973
Amounts owed by group undertakings9,077-
Other debtors29,57075,391
Prepayments and accrued income18,9306,038
Total472,811336,402
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables189,764148,939
Bank borrowings and overdrafts330,392157,965
Amounts owed to related parties2,158-
Taxation and social security17,63917,601
Finance lease and HP contracts128,787131,899
Other creditors4,81229,060
Accrued liabilities and deferred income52,460601
Total726,012486,065
7.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts388,537339,714
8.Provisions for liabilities
The company has deferred income tax liabilities of £140,371 (2022 £108,747) being the timing difference between claiming capital allowances and recognising depreciation in the financial statements. Simultaneously, deferred tax assets are recognised of £121,541 (2022 £97,020) for tax losses carried forward to the extent that realisation of the related tax benefits through future taxable profits is probable. The net deferred tax liability of £18,830 (2022 £11,727) has been provided in the financial statements.

2023

2022

££
Other provisions18,83011,727
Total18,83011,727