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REGISTERED NUMBER: 04647873 (England and Wales)















ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

RUSS SWIFT LIMITED

RUSS SWIFT LIMITED (REGISTERED NUMBER: 04647873)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


RUSS SWIFT LIMITED (REGISTERED NUMBER: 04647873)

ABRIDGED BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 13,729 4,574

CURRENT ASSETS
Debtors 51,780 53,733
Cash at bank and in hand 229,469 202,456
281,249 256,189
CREDITORS
Amounts falling due within one year 157,649 139,461
NET CURRENT ASSETS 123,600 116,728
TOTAL ASSETS LESS CURRENT
LIABILITIES

137,329

121,302

PROVISIONS FOR LIABILITIES 3,432 869
NET ASSETS 133,897 120,433

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 133,797 120,333
SHAREHOLDERS' FUNDS 133,897 120,433

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

RUSS SWIFT LIMITED (REGISTERED NUMBER: 04647873)

ABRIDGED BALANCE SHEET - continued
31 JANUARY 2024


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

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 September 2024 and were signed by:





P R Swift - Director


RUSS SWIFT LIMITED (REGISTERED NUMBER: 04647873)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Russ Swift Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04647873

Registered office: High Bank Cottage
Finghall
Leyburn
North Yorkshire
DL8 5ND

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.

The company has taken advantage of the exemptions in Financial Reporting standard No. 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

Turnover
Turnover represents the net invoiced sales of goods and services net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 20% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.


RUSS SWIFT LIMITED (REGISTERED NUMBER: 04647873)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£
COST
At 1 February 2023 27,400
Additions 10,388
At 31 January 2024 37,788
DEPRECIATION
At 1 February 2023 22,826
Charge for year 1,233
At 31 January 2024 24,059
NET BOOK VALUE
At 31 January 2024 13,729
At 31 January 2023 4,574

5. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2023 and 31 January 2022:

20242023
££
Balance outstanding at start of year(17,894)13,403
Amounts advanced32,97319,041
Amounts repaid(60,173)(50,338)
Balance outstanding at end of year(45,094)(17,894)

All the above advances were interest free and were unsecured, with no fixed repayment terms.