Company registration number 00496924 (England and Wales)
William B. Swift Limited
financial statements
for the year ended 31 December 2023
PAGES FOR FILING WITH REGISTRAR
William B. Swift Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
William B. Swift Limited
Statement of financial position
as at 31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
28,256
32,581
Current assets
Stocks
71,593
48,534
Debtors
109,209
76,476
Cash at bank and in hand
50,086
82,805
230,888
207,815
Creditors: amounts falling due within one year
(56,907)
(46,406)
Net current assets
173,981
161,409
Total assets less current liabilities
202,237
193,990
Provisions for liabilities
4
(5,993)
(5,333)
Net assets
196,244
188,657
Capital and reserves
Called up share capital
5
20,845
20,845
Profit and loss reserves
175,399
167,812
Total equity
196,244
188,657

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 3 September 2024 and are signed on its behalf by:
P H Benson
Director
Company registration number 00496924 (England and Wales)
William B. Swift Limited
Notes to the financial statements
for the year ended 31 December 2023
- 2 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover represents the fair value of the consideration received for goods provided in the normal course of business, and is shown net of VAT.

 

Turnover is recognised on supply of goods to the customer.

Tangible fixed assets

Tangible fixed assets held for the company's own use are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
5% reducing balance
Plant and machinery
15% reducing balance
Fixtures and fittings
10% reducing balance
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the year end date. Timing differences represents the accumulated difference between the company's taxable profit and its financial profit. These differences arise primarily from the difference between accelerated capital allowances and depreciation.

Retirement benefits

The company operates a defined contribution pension scheme. The contributions are charged to the profit and loss account in the year to which they are payable.

William B. Swift Limited
Notes to the financial statements (continued)
for the year ended 31 December 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
8
11
3
Tangible fixed assets
Freehold land and buildings
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 January 2023 and 31 December 2023
61,683
211,714
16,402
289,799
Depreciation and impairment
At 1 January 2023
57,173
185,856
14,189
257,218
Depreciation charged in the year
225
3,879
221
4,325
At 31 December 2023
57,398
189,735
14,410
261,543
Carrying amount
At 31 December 2023
4,285
21,979
1,992
28,256
At 31 December 2022
4,510
25,858
2,213
32,581
4
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
5,993
5,333
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Authorised
Ordinary shares of £1 each
25,000
25,000
25,000
25,000
Ordinary A shares of £1 each
5,000
5,000
5,000
5,000
30,000
30,000
30,000
30,000
Issued and fully paid
Ordinary shares of £1 each
18,760
18,760
18,760
18,760
Ordinary A shares of £1 each
2,085
2,085
2,085
2,085
20,845
20,845
20,845
20,845
William B. Swift Limited
Notes to the financial statements (continued)
for the year ended 31 December 2023
- 4 -
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Charles R Moorby
Statutory Auditor:
B M Howarth Ltd
Date of audit report:
3 September 2024
7
Related party transactions

The company is exempt from disclosing the related party transactions with group companies as its results are included in the consolidated accounts of its parent undertaking.

8
Parent company

The ultimate undertaking is considered to be John Horsfall & Sons (Greetland) Limited, a company incorporated in England and Wales whose registered office is situated at Birkby Grange, Birkby Hall Road, Huddersfield, West Yorkshire, HD2 2XB. John Horsfall & Sons (Greetland) Limited is the company which prepares consolidated accounts for the group.

9
Company information

William B. Swift Limited is a private company limited by shares incorporated in England and Wales. The registered office is Birkby Grange, Birkby Hall Road, Huddersfield, West Yorkshire, HD2 2XB.

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