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REGISTERED NUMBER: 01763975 (England and Wales)
















Swindell Painting Limited

Unaudited Financial Statements

for the Year Ended

31 December 2023






Swindell Painting Limited (Registered number: 01763975)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Swindell Painting Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs P J Swindell
Mrs S J Robinson
M A Swindell





SECRETARY: Mrs P J Swindell





REGISTERED OFFICE: Unit 9B,
Thorpe Close,
Banbury,
Oxfordshire
OX16 8SW





REGISTERED NUMBER: 01763975 (England and Wales)





ACCOUNTANTS: Moffat Gilbert
5 Clarendon Place
Leamington Spa
Warwickshire
CV32 5QL

Swindell Painting Limited (Registered number: 01763975)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59 97

CURRENT ASSETS
Stocks 22,285 42,923
Debtors 5 206,389 210,910
Cash at bank and in hand 73,368 105,560
302,042 359,393
CREDITORS
Amounts falling due within one year 6 243,588 292,291
NET CURRENT ASSETS 58,454 67,102
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,513

67,199

CREDITORS
Amounts falling due after more than one
year

7

-

(27,500

)

PROVISIONS FOR LIABILITIES (15 ) (24 )
NET ASSETS 58,498 39,675

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 58,398 39,575
SHAREHOLDERS' FUNDS 58,498 39,675

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

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

Swindell Painting Limited (Registered number: 01763975)

Balance Sheet - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





Mrs P J Swindell - Director


Swindell Painting Limited (Registered number: 01763975)

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

1. STATUTORY INFORMATION

Swindell Painting 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.
Computer equipment - at variable rates on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 16 ) .

Swindell Painting Limited (Registered number: 01763975)

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023
and 31 December 2023 963
DEPRECIATION
At 1 January 2023 866
Charge for year 38
At 31 December 2023 904
NET BOOK VALUE
At 31 December 2023 59
At 31 December 2022 97

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 197,012 202,377
Other debtors 9,377 8,533
206,389 210,910

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts - 10,000
Trade creditors 85,350 61,644
Amounts owed to group undertakings 71,897 116,287
Taxation and social security 37,257 55,496
Other creditors 49,084 48,864
243,588 292,291

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 27,500

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 18,000 18,000
Between one and five years 3,000 21,000
21,000 39,000

Swindell Painting Limited (Registered number: 01763975)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year Mr and Mrs Swindell operated a partnership business which hired assets to the company at a commercial rate in the amount of £6,600 (2022 £6,450).

11. RELATED PARTY DISCLOSURES

Transactions with Mr and Mrs Swindell are disclosed in note 13. The holding company, Francis Trading Holdings Limited provided management services to Swindell Painting Limited during the year in the amount of £126,000 (2022 £126,000). The net balance owed to the holding company as at 31st December 2023 amounted to £71,897 (2022 £116,287).

The Swindell Painting Limited Pension Fund rented a unit to the company during the year. The rent charged was £18,000 (2022 £17,711) and the balance owed by the company to the Pension Fund as at 31st December 2023 was £nil (2022 £nil).

12. ULTIMATE CONTROLLING PARTY

Mr M A and Mrs P J Swindell are the joint ultimate controlling parties of the company.

13. RESERVATION OF TITLE

Trading stocks of an unascertained value are subject to reservation of title clauses under suppliers' standard conditions of sale. The directors are of the opinion that quantification of the estimated value involved would not necessarily reflect the full lien over the stocks and accordingly would be misleading.

14. ULTIMATE PARENT UNDERTAKING

The company is a wholly owned subsidiary of Francis Trading Holdings Limited. The registered office of the parent undertaking is Unit 9B, Thorpe Close, Banbury, Oxfordshire, OX16 8SW.