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REGISTERED NUMBER: 08914905 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

SWAILES SUITES LIMITED

SWAILES SUITES LIMITED (REGISTERED NUMBER: 08914905)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SWAILES SUITES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: R H H Swailes





REGISTERED OFFICE: 4th Floor, St James House
St. James Square
Cheltenham
GL50 3PR





REGISTERED NUMBER: 08914905 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
4th Floor
St James House
St James Square
Cheltenham
Gloucestershire
GL50 3PR

SWAILES SUITES LIMITED (REGISTERED NUMBER: 08914905)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

2023 2022
Notes £ £
FIXED ASSETS
Property, plant and equipment 4 13,799 17,249
Investment property 5 8,345,001 7,745,000
8,358,800 7,762,249

CURRENT ASSETS
Debtors 6 2,326,599 95,764
Cash at bank 1,529 1,595
2,328,128 97,359
CREDITORS
Amounts falling due within one year 7 (6,648,178 ) (4,018,841 )
NET CURRENT LIABILITIES (4,320,050 ) (3,921,482 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,038,750

3,840,767

CREDITORS
Amounts falling due after more than one
year

8

(15,000

)

(25,000

)

PROVISIONS FOR LIABILITIES (1,007,400 ) (941,168 )
NET ASSETS 3,016,350 2,874,599

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 2,841,468 2,818,503
Retained earnings 174,782 55,996
SHAREHOLDERS' FUNDS 3,016,350 2,874,599

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

SWAILES SUITES LIMITED (REGISTERED NUMBER: 08914905)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 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 director and authorised for issue on 8 August 2024 and were signed by:





R H H Swailes - Director


SWAILES SUITES LIMITED (REGISTERED NUMBER: 08914905)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Swailes Suites 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
Revenue 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.
Fixtures and fittings - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Deferred tax assets are recognised only to the extent that directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantially enacted at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

SWAILES SUITES LIMITED (REGISTERED NUMBER: 08914905)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£
COST
At 1 December 2022
and 30 November 2023 75,719
DEPRECIATION
At 1 December 2022 58,470
Charge for year 3,450
At 30 November 2023 61,920
NET BOOK VALUE
At 30 November 2023 13,799
At 30 November 2022 17,249

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 December 2022 7,745,000
Additions 586,598
Revaluations 13,403
At 30 November 2023 8,345,001
NET BOOK VALUE
At 30 November 2023 8,345,001
At 30 November 2022 7,745,000

The investment property is held at valuation. On an historical cost bases the property would have been included on the Balance Sheet at £4,573,594 (2022: £3,989,796). The investment property was valued by the director in the year on a fair value basis for existing use.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other debtors 2,326,599 95,764

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 2,043 -
Taxation and social security 18,560 -
Other creditors 6,617,575 4,008,841
6,648,178 4,018,841

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 15,000 25,000