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REGISTERED NUMBER: 00384655 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 December 2023

for

Swatkins Group Limited

Swatkins Group Limited (Registered number: 00384655)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Swatkins Group Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P C Swatkins
J Swatkins
S L Swatkins
S O Swatkins





SECRETARY: L J Bateman





REGISTERED OFFICE: Leamore House
222 Leamore Lane
Walsall
West Midlands
WS2 7DQ





REGISTERED NUMBER: 00384655 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Chartered Accountants
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Swatkins Group Limited (Registered number: 00384655)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,354,359 1,330,856

CURRENT ASSETS
Stocks 1,474,334 1,425,060
Debtors 5 71,258 96,844
Cash at bank and in hand 768,072 504,909
2,313,664 2,026,813
CREDITORS
Amounts falling due within one year 6 540,436 429,474
NET CURRENT ASSETS 1,773,228 1,597,339
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,127,587

2,928,195

PROVISIONS FOR LIABILITIES 93,700 60,500
NET ASSETS 3,033,887 2,867,695

CAPITAL AND RESERVES
Called up share capital 3,500 3,500
Revaluation reserve 7 208,588 225,588
Retained earnings 2,821,799 2,638,607
SHAREHOLDERS' FUNDS 3,033,887 2,867,695

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.

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 26 July 2024 and were signed on its behalf by:





P C Swatkins - Director


Swatkins Group Limited (Registered number: 00384655)

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

1. STATUTORY INFORMATION

Swatkins 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.

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 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.
Freehold property - not provided
Long leasehold - not provided
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33.33% on cost

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 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.

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.

Freehold and long leasehold buildings
No depreciation is provided on the freehold and leasehold buildings. It is the company's practice to maintain this asset in a continual state of sound repair and make improvements thereto from time to time and accordingly the directors consider that the lives of these assets are so long and residual values are so high that their depreciation is insignificant.

Swatkins Group Limited (Registered number: 00384655)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 20 ) .

4. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST OR VALUATION
At 1 January 2023 926,721 223,279 320,639
Additions - - 142
Disposals - - -
At 31 December 2023 926,721 223,279 320,781
DEPRECIATION
At 1 January 2023 - - 246,348
Charge for year - - 19,045
Eliminated on disposal - - -
At 31 December 2023 - - 265,393
NET BOOK VALUE
At 31 December 2023 926,721 223,279 55,388
At 31 December 2022 926,721 223,279 74,291

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2023 525,304 347,568 156,392 2,499,903
Additions 26,925 85,724 4,542 117,333
Disposals - (38,724 ) - (38,724 )
At 31 December 2023 552,229 394,568 160,934 2,578,512
DEPRECIATION
At 1 January 2023 513,757 257,169 151,773 1,169,047
Charge for year 12,390 58,400 3,995 93,830
Eliminated on disposal - (38,724 ) - (38,724 )
At 31 December 2023 526,147 276,845 155,768 1,224,153
NET BOOK VALUE
At 31 December 2023 26,082 117,723 5,166 1,354,359
At 31 December 2022 11,547 90,399 4,619 1,330,856

Cost or valuation at 31 December 2023 is represented by:

Freehold Long Plant and
property leasehold machinery
£    £    £   
Valuation in 2016 926,721 223,279 -
Cost - - 320,781
926,721 223,279 320,781

Swatkins Group Limited (Registered number: 00384655)

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

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Valuation in 2016 - - - 1,150,000
Cost 552,229 394,568 160,934 1,428,512
552,229 394,568 160,934 2,578,512

If Land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 868,412 868,412

Land and buildings were valued on a vacant possession basis on 24 June 2016 by GJS Dillon Limited .


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 34,314 58,557
Other debtors 36,944 38,287
71,258 96,844

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 52,323 56,935
Amounts owed to group undertakings 20,644 20,644
Taxation and social security 207,305 93,215
Other creditors 260,164 258,680
540,436 429,474

7. RESERVES
Revaluation
reserve
£   
At 1 January 2023 225,588
Transfer (17,000 )

At 31 December 2023 208,588

8. RELATED PARTY DISCLOSURES

The amounts due to directors at the year end were £18,772 (2022 £15,258).