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REGISTERED NUMBER: 04025135 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 July 2023

for

Swans Limited

Swans Limited (Registered number: 04025135)






Contents of the Financial Statements
For The Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Swans Limited

Company Information
For The Year Ended 31 July 2023







DIRECTORS: N M Roads
D S Roads





REGISTERED OFFICE: Mill House
58 Guildford Street
Chertsey
Surrey
KT16 9BE





REGISTERED NUMBER: 04025135 (England and Wales)





ACCOUNTANTS: Fuller Spurling
Mill House
58 Guildford Street
Chertsey
Surrey
KT16 9BE

Swans Limited (Registered number: 04025135)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 335 502
Investment property 5 4,437,500 4,479,113
4,437,835 4,479,615

CURRENT ASSETS
Debtors 6 17,341 1,154
Cash at bank 183,711 281,058
201,052 282,212
CREDITORS
Amounts falling due within one year 7 104,929 80,118
NET CURRENT ASSETS 96,123 202,094
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,533,958

4,681,709

PROVISIONS FOR LIABILITIES 514,644 522,551
NET ASSETS 4,019,314 4,159,158

CAPITAL AND RESERVES
Called up share capital 8 1,500,001 1,500,001
Retained earnings 9 2,519,313 2,659,157
SHAREHOLDERS' FUNDS 4,019,314 4,159,158

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Swans Limited (Registered number: 04025135)

Balance Sheet - continued
31 July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:





N M Roads - Director


Swans Limited (Registered number: 04025135)

Notes to the Financial Statements
For The Year Ended 31 July 2023

1. STATUTORY INFORMATION

Swans 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rentals income and is measured at the fair value of the consideration received or receivable for the period.

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 - 25% on cost
Computer equipment - 50% on cost

Small items of capital expenditure (under £500) on equipment and fixtures are written off as incurred.

Investment property
Investment property acquisitions are stated at cost together with any refurbishment and improvement costs where such work is not complete at the end of the financial year. Once complete Investment property is shown at most recent valuation carried out by qualified Chartered Surveyors at their open market value. Any aggregate surplus or deficit arising from changes in such fair value is recognised in the income statement and retained earnings carried forward.

Taxation
Taxation represents the sum of tax currently payable, and deferred tax if material.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax, where material, is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Swans Limited (Registered number: 04025135)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Debtors
Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash at bank and in hand
Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors
Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial Instruments
Other than Investment Properties (see above) the Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 31,316 3,884 35,200
DEPRECIATION
At 1 August 2022 31,316 3,382 34,698
Charge for year - 167 167
At 31 July 2023 31,316 3,549 34,865
NET BOOK VALUE
At 31 July 2023 - 335 335
At 31 July 2022 - 502 502

Swans Limited (Registered number: 04025135)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 4,479,113
Additions 143,717
Impairments (185,330 )
At 31 July 2023 4,437,500
NET BOOK VALUE
At 31 July 2023 4,437,500
At 31 July 2022 4,479,113

Investment property was last valued on an open market basis on 31 October 2023 by John Bray and Partners, a professional Property Company, and was undertaken by Mr A Roads MRICS who is a partner in that firm and who is a director and Trustee of the Millennium Oak Trust which is the ultimate controlling party of this Company.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors - 1
Prepayments 17,341 1,153
17,341 1,154

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 15,968 -
VAT 14,372 14,592
Other creditors 61,890 63,136
Accruals and deferred income 12,699 2,390
104,929 80,118

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
1,500,001 Share capital 1 £1 1,500,001 1,500,001

Swans Limited (Registered number: 04025135)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

9. RESERVES
Retained
earnings
£   

At 1 August 2022 2,659,157
Profit for the year 37,579
Transfer to(from) Revaluation
Reserve (185,330 )
Deferred tax on revaluation 7,907
At 31 July 2023 2,519,313

10. ULTIMATE CONTROLLING PARTY

The company is a wholly owned trading company of a registered charity, The Millennium Oak Trust.