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Registered Number: 04808864
England and Wales

 

 

 


Abridged Accounts

for the year ended 30 November 2023

for

SWANZDALE LIMITED

Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Swanzdale Limited for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Swanzdale Limited for the year ended 30 November 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of Swanzdale Limited , as a body, in accordance with the terms of our engagement letter dated .

Our work has been undertaken solely to prepare for your approval the accounts of Swanzdale Limited and state those matters that we have agreed to state to the Board of Directors of Swanzdale Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Swanzdale Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Swanzdale 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 Swanzdale Limited . You consider that Swanzdale 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 Swanzdale 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



....................................................
J W Smith & Co Ltd - Scarborough
Hopper Hill Road
Scarborough Business Park
Scarborough
North Yorkshire
YO11 3YS
29 August 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3   6,400 
Tangible fixed assets 4 361,856    771,042 
Investments 5   333,894 
361,856    1,111,336 
Current assets      
Stocks 30,000    30,000 
Debtors 73,627    173,100 
Cash at bank and in hand 29,686    241,369 
133,313    444,469 
Creditors: amount falling due within one year (222,749)   (255,097)
Net current assets (89,436)   189,372 
 
Total assets less current liabilities 272,420    1,300,708 
Provisions for liabilities (12,118)   (11,985)
Net assets 260,302    1,288,723 
 

Capital and reserves
     
Called up share capital 6 200    200 
Profit and loss account 260,102    1,288,523 
Shareholders' funds 260,302    1,288,723 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 29 August 2024 and were signed on its behalf by:


-------------------------------
Matthew Purnell
Director
2
General Information
Swanzdale Limited is a private company, limited by shares, registered in England and Wales, registration number 04808864, registration address Jws Hopper Hill Road , Eastfield, Scarborough, North Yorkshire, YO11 3YS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 2% Straight Line
Plant and Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 33% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at market value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 30 (2022 : 31).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 December 2022 128,000    128,000 
Additions  
Disposals  
At 30 November 2023 128,000    128,000 
Amortisation
At 01 December 2022 121,600    121,600 
Charge for year 6,400    6,400 
On disposals  
At 30 November 2023 128,000    128,000 
Net book values
At 30 November 2023  
At 30 November 2022 6,400    6,400 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £   £
At 01 December 2022 835,656    78,367    91,194    50,672    1,055,889 
Additions       1,299    1,299 
Disposals (419,294)         (419,294)
At 30 November 2023 416,362    78,367    91,194    51,971    637,894 
Depreciation
At 01 December 2022 127,691    66,344    41,132    49,680    284,847 
Charge for year 14,000    2,404    12,516    914    29,834 
On disposals (38,643)         (38,643)
At 30 November 2023 103,048    68,748    53,648    50,594    276,038 
Net book values
Closing balance as at 30 November 2023 313,314    9,619    37,546    1,377    361,856 
Opening balance as at 01 December 2022 707,965    12,023    50,062    992    771,042 


5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 December 2022 333,894    333,894 
Additions 12,000    12,000 
Transfer to/from tangible fixed assets  
Disposals (345,894)   (345,894)
At 30 November 2023  

6.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
200 Class A shares of £1.00 each 200    200 
200    200 

7.

Exceptional Item

Exceptional Item

During the year the company demerged it's non trading assets into companies owned by the shareholders.
3