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REGISTERED NUMBER: 13584005 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Swiftco Group Limited

Swiftco Group Limited (Registered number: 13584005)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Swiftco Group Limited

Company Information
for the Year Ended 31 August 2023







DIRECTOR: J Swift





REGISTERED OFFICE: Pure Offices Ltd 4100 Park Approach
Thorpe Park
Leeds
LS15 8GB





REGISTERED NUMBER: 13584005 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
Chartered Accountants
3 Park Square
Leeds
LS1 2NE

Swiftco Group Limited (Registered number: 13584005)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,000 7,500

CURRENT ASSETS
Debtors 5 59,551 73,908
Cash at bank and in hand 16,489 29,705
76,040 103,613
CREDITORS
Amounts falling due within one year 6 64,951 66,441
NET CURRENT ASSETS 11,089 37,172
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,089

44,672

CAPITAL AND RESERVES
Called up share capital 7 101 101
Retained earnings 8 15,988 44,571
SHAREHOLDERS' FUNDS 16,089 44,672

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 February 2024 and were signed by:





J Swift - Director


Swiftco Group Limited (Registered number: 13584005)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Swiftco Group 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of four years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Swiftco Group Limited (Registered number: 13584005)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 10,000
AMORTISATION
At 1 September 2022 2,500
Amortisation for year 2,500
At 31 August 2023 5,000
NET BOOK VALUE
At 31 August 2023 5,000
At 31 August 2022 7,500

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 56,133 71,704
Prepayments and accrued income 3,418 2,204
59,551 73,908

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 10,956 7,648
Tax 9,250 15,540
Social security and other taxes 23,011 31,572
Directors' current accounts 355 6,234
Accrued expenses 21,379 5,447
64,951 66,441

7. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
100 Ordinary £1 100 100
1 B Ordinary £1 1 1
101 101

Swiftco Group Limited (Registered number: 13584005)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

8. RESERVES
Retained
earnings
£   

At 1 September 2022 44,571
Profit for the year 25,917
Dividends (54,500 )
At 31 August 2023 15,988

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £39,500 (2022 - £17,000) were paid to the director .

10. ULTIMATE CONTROLLING PARTY

The controlling party is J Swift.