Bolehall Swifts (2010) Limited 07114486 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of a social club. Digita Accounts Production Advanced 6.30.9574.0 true 07114486 2023-01-01 2023-12-31 07114486 2023-12-31 07114486 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-12-31 07114486 core:CurrentFinancialInstruments 2023-12-31 07114486 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 07114486 core:ConstructionInProgressAssetsUnderConstruction 2023-12-31 07114486 core:FurnitureFittingsToolsEquipment 2023-12-31 07114486 core:OtherPropertyPlantEquipment 2023-12-31 07114486 bus:SmallEntities 2023-01-01 2023-12-31 07114486 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07114486 bus:FullAccounts 2023-01-01 2023-12-31 07114486 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07114486 bus:RegisteredOffice 2023-01-01 2023-12-31 07114486 bus:Director1 2023-01-01 2023-12-31 07114486 bus:Director2 2023-01-01 2023-12-31 07114486 bus:Director3 2023-01-01 2023-12-31 07114486 bus:Director4 2023-01-01 2023-12-31 07114486 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-01-01 2023-12-31 07114486 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07114486 bus:Agent1 2023-01-01 2023-12-31 07114486 core:ConstructionInProgressAssetsUnderConstruction 2023-01-01 2023-12-31 07114486 core:FurnitureFittings 2023-01-01 2023-12-31 07114486 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 07114486 core:LeaseholdImprovements 2023-01-01 2023-12-31 07114486 core:OfficeEquipment 2023-01-01 2023-12-31 07114486 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 07114486 core:PlantMachinery 2023-01-01 2023-12-31 07114486 countries:AllCountries 2023-01-01 2023-12-31 07114486 2022-12-31 07114486 core:ConstructionInProgressAssetsUnderConstruction 2022-12-31 07114486 core:FurnitureFittingsToolsEquipment 2022-12-31 07114486 core:OtherPropertyPlantEquipment 2022-12-31 07114486 2022-01-01 2022-12-31 07114486 2022-12-31 07114486 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-12-31 07114486 core:CurrentFinancialInstruments 2022-12-31 07114486 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 07114486 core:ConstructionInProgressAssetsUnderConstruction 2022-12-31 07114486 core:FurnitureFittingsToolsEquipment 2022-12-31 07114486 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07114486

Bolehall Swifts (2010) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Bolehall Swifts (2010) Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Bolehall Swifts (2010) Limited

Company Information

Directors

VN Tavinor

C Schollar

J Latham

J Bowman

Registered office

Bolehall Swifts Social Club
Rene Road
Tamworth
Staffordshire
B77 3NW

Accountants

Bissell & Brown Midlands Ltd
Chartered Certified Accountants
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Bolehall Swifts (2010) Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bolehall Swifts (2010) Limited for the year ended 31 December 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Bolehall Swifts (2010) Limited, as a body, in accordance with the terms of our engagement letter dated 1 October 2021. Our work has been undertaken solely to prepare for your approval the accounts of Bolehall Swifts (2010) Limited and state those matters that we have agreed to state to the Board of Directors of Bolehall Swifts (2010) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bolehall Swifts (2010) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Bolehall Swifts (2010) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Bolehall Swifts (2010) Limited. You consider that Bolehall Swifts (2010) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Bolehall Swifts (2010) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Bissell & Brown Midlands Ltd
Chartered Certified Accountants
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ

24 May 2024

 

Bolehall Swifts (2010) Limited

(Registration number: 07114486)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

339,545

350,592

Current assets

 

Stocks

5

8,430

8,934

Debtors

6

2,270

3,310

Cash at bank and in hand

 

123,850

97,492

 

134,550

109,736

Creditors: Amounts falling due within one year

7

(459,821)

(457,378)

Net current liabilities

 

(325,271)

(347,642)

Net assets

 

14,274

2,950

Capital and reserves

 

Called up share capital

8

60,000

60,000

Retained earnings

(45,726)

(57,050)

Shareholders' funds

 

14,274

2,950

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the directors' report and the Profit and Loss Account.

Approved and authorised by the Board on 24 May 2024 and signed on its behalf by:
 

.........................................
J Latham
Director

 

Bolehall Swifts (2010) Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Bolehall Swifts Social Club
Rene Road
Tamworth
Staffordshire
B77 3NW
England

These financial statements were authorised for issue by the Board on 24 May 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Bolehall Swifts (2010) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Property improvements

2% straight line

Plant and machinery

25% reducing balance

Office equipment

25% reducing balance

Fixtures and fittings

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Bolehall Swifts (2010) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 5).

 

Bolehall Swifts (2010) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Properties under construction
 £

Plant and machinery, etc
£

Total
£

Cost or valuation

At 1 January 2023

50,307

443,169

20,220

513,696

Additions

1,659

-

-

1,659

At 31 December 2023

51,966

443,169

20,220

515,355

Depreciation

At 1 January 2023

40,884

108,090

14,130

163,104

Charge for the year

2,318

8,863

1,525

12,706

At 31 December 2023

43,202

116,953

15,655

175,810

Carrying amount

At 31 December 2023

8,764

326,216

4,565

339,545

At 31 December 2022

9,423

335,079

6,090

350,592

5

Stocks

2023
£

2022
£

Other inventories

8,430

8,934

6

Debtors

Current

2023
£

2022
£

Trade debtors

672

1,278

Prepayments

1,577

2,032

Other debtors

21

-

 

2,270

3,310

 

Bolehall Swifts (2010) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7.1

298,500

298,500

Trade creditors

 

4,357

4,175

Taxation and social security

 

8,583

6,112

Accruals and deferred income

 

5,881

6,091

Other creditors

 

142,500

142,500

 

459,821

457,378

7.1

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

298,500

298,500

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

60,000

60,000

60,000

60,000