Company Registration No. 08905164 (England and Wales)
David Swift Ltd
Unaudited accounts
for the year ended 29 February 2024
David Swift Ltd
Unaudited accounts
Contents
David Swift Ltd
Company Information
for the year ended 29 February 2024
Company Number
08905164 (England and Wales)
Registered Office
1 Upper Castle Rd
St Mawes
Cornwall
TR2 5BZ
Accountants
Warwick McArdle
55 Ellerton Road
London
SW18 3NQ
David Swift Ltd
Statement of financial position
as at 29 February 2024
Cash at bank and in hand
8,680
12,021
Creditors: amounts falling due within one year
(46,191)
(33,029)
Net current liabilities
(16,595)
(3,086)
Net liabilities
(16,595)
(3,085)
Called up share capital
10
10
Profit and loss account
(16,605)
(3,095)
Shareholders' funds
(16,595)
(3,085)
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 September 2024 and were signed on its behalf by
David Swift
Director
Company Registration No. 08905164
David Swift Ltd
Notes to the Accounts
for the year ended 29 February 2024
David Swift Ltd is a private company, limited by shares, registered in England and Wales, registration number 08905164. The registered office is 1 Upper Castle Rd, St Mawes, Cornwall, TR2 5BZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
5 years on a straight line basis
Computer equipment
3 years on a straight line basis
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Investments in shares are included at fair value.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
David Swift Ltd
Notes to the Accounts
for the year ended 29 February 2024
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2023
15,749
9,554
25,303
At 29 February 2024
15,749
9,554
25,303
At 1 March 2023
15,749
9,553
25,302
At 29 February 2024
15,749
9,554
25,303
5
Investments held as current assets
2024
2023
Listed investments
20,916
17,922
6
Creditors: amounts falling due within one year
2024
2023
Other creditors
33,936
21,911
Loans from directors
12,255
9,072
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10
10
At the end of the year the company owed the director £12,255 (2023 £9,072).
The company was under the control of David Swift throughout the period as the majority shareholder.
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).