Swift Decision Ltd 06745813 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is combined office administrative service activities. Digita Accounts Production Advanced 6.30.9574.0 true 06745813 2023-04-01 2024-03-31 06745813 2024-03-31 06745813 bus:OrdinaryShareClass1 bus:OtherShareType 2024-03-31 06745813 core:CurrentFinancialInstruments 2024-03-31 06745813 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06745813 core:Non-currentFinancialInstruments 2024-03-31 06745813 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 06745813 core:OtherPropertyPlantEquipment 2024-03-31 06745813 bus:SmallEntities 2023-04-01 2024-03-31 06745813 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06745813 bus:FullAccounts 2023-04-01 2024-03-31 06745813 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06745813 bus:RegisteredOffice 2023-04-01 2024-03-31 06745813 bus:Director1 2023-04-01 2024-03-31 06745813 bus:OrdinaryShareClass1 bus:OtherShareType 2023-04-01 2024-03-31 06745813 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06745813 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 06745813 core:PlantMachinery 2023-04-01 2024-03-31 06745813 countries:EnglandWales 2023-04-01 2024-03-31 06745813 2023-03-31 06745813 core:OtherPropertyPlantEquipment 2023-03-31 06745813 2022-04-01 2023-03-31 06745813 2023-03-31 06745813 bus:OrdinaryShareClass1 bus:OtherShareType 2023-03-31 06745813 core:CurrentFinancialInstruments 2023-03-31 06745813 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06745813 core:Non-currentFinancialInstruments 2023-03-31 06745813 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 06745813 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06745813

Swift Decision Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Swift Decision Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Swift Decision Ltd

Company Information

Director

Mr Richard Antony Peeters

Registered office

Great North Business Centre
North Place, 82 Great North Road
Hatfield
Hertfordshire
AL9 5BL

Accountants

RS Partnership Ltd
Chartered Certified Accountants
10 Prospect Place
Welwyn
Hertfordshire
AL6 9EW

 

Swift Decision Ltd

(Registration number: 06745813)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,439

1,919

Current assets

 

Debtors

5

52,218

69,693

Cash at bank and in hand

 

9,004

46,300

 

61,222

115,993

Creditors: Amounts falling due within one year

6

(46,843)

(43,807)

Net current assets

 

14,379

72,186

Total assets less current liabilities

 

15,818

74,105

Creditors: Amounts falling due after more than one year

6

(127,913)

(211,837)

Net liabilities

 

(112,095)

(137,732)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(112,195)

(137,832)

Shareholders' deficit

 

(112,095)

(137,732)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 2 July 2024
 

.........................................
Mr Richard Antony Peeters
Director

 

Swift Decision Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Great North Business Centre
North Place, 82 Great North Road
Hatfield
Hertfordshire
AL9 5BL
England

These financial statements were authorised for issue by the director on 2 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Pounds Sterling (£), which is the Company’s functional
currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Swift Decision Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and
the company has no legal or constructive obligation to pay further contributions even if the fund does not hold
sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If
contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Swift Decision Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 1).

4

Tangible assets

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

19,809

19,809

At 31 March 2024

19,809

19,809

Depreciation

At 1 April 2023

17,890

17,890

Charge for the year

480

480

At 31 March 2024

18,370

18,370

Carrying amount

At 31 March 2024

1,439

1,439

At 31 March 2023

1,919

1,919

5

Debtors

2024
£

2023
£

Trade debtors

35,952

51,157

Prepayments

2,666

4,936

Other debtors

13,600

13,600

52,218

69,693

 

Swift Decision Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

10,000

10,000

Trade creditors

 

1,237

4,686

Taxation and social security

 

9,121

2,833

Accruals and deferred income

 

493

1,000

Other creditors

 

25,992

25,288

 

46,843

43,807

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

25,896

31,137

Other non-current financial liabilities

 

102,017

180,700

 

127,913

211,837

 

Swift Decision Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

25,896

31,137

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,000

10,000