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REGISTERED NUMBER: 09597972 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

SWIFT SPARES AND SERVICES LIMITED

SWIFT SPARES AND SERVICES LIMITED (REGISTERED NUMBER: 09597972)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


SWIFT SPARES AND SERVICES LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2023







DIRECTORS: Ms F Morris
J G Taylor





REGISTERED OFFICE: The Squires
5 Walsall Street
Wednesbury
West Midlands
WS10 9BZ





REGISTERED NUMBER: 09597972 (England and Wales)





ACCOUNTANTS: Wright & Co Partnership Limited
Chartered Accountants
5 Walsall Street
Wednesbury
West Midlands
WS10 9BZ

SWIFT SPARES AND SERVICES LIMITED (REGISTERED NUMBER: 09597972)

ABRIDGED BALANCE SHEET
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,888 7,584

CURRENT ASSETS
Debtors 52,458 177,150
Cash at bank 276,647 45,908
329,105 223,058
CREDITORS
Amounts falling due within one year 203,376 142,153
NET CURRENT ASSETS 125,729 80,905
TOTAL ASSETS LESS CURRENT
LIABILITIES

132,617

88,489

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 132,615 88,487
SHAREHOLDERS' FUNDS 132,617 88,489

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 10 January 2024 and were signed on its behalf by:





Ms F Morris - Director


SWIFT SPARES AND SERVICES LIMITED (REGISTERED NUMBER: 09597972)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Swift Spares And Services 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. 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 and 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022 32,048
Additions 3,098
At 31 May 2023 35,146
DEPRECIATION
At 1 June 2022 24,464
Charge for year 3,794
At 31 May 2023 28,258
NET BOOK VALUE
At 31 May 2023 6,888
At 31 May 2022 7,584