Company registration number 14301737 (England and Wales)
SWAN AT THE MAZE LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
SWAN AT THE MAZE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SWAN AT THE MAZE LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
65,458
100
Cash at bank and in hand
332
-
0
65,790
100
Creditors: amounts falling due within one year
4
(53,428)
-
0
Net current assets
12,362
100
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
12,262
-
0
Total equity
12,362
100

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 23 September 2024 and are signed on its behalf by:
CDS Wright
Director
Company registration number 14301737 (England and Wales)
SWAN AT THE MAZE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Swan at the Maze Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 399-401 Strand, London, United Kingdom, WC2R 0LT.

1.1
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. Monetary amounts in these financial statements are rounded to the nearest £1.

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

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation thattrue

the company has adequate resources to continue in operational existence for the foreseeable

future. Thus the directors continue to adopt the going concern basis of accounting in preparing the

financial statements.

 

The company will continue to receive the support of its parent company, Swan London Limited.

1.3
Turnover

Turnover represents amounts receivable for catering services, net of VAT.

 

Turnover is recognised on the day of the event for which catering services are being supplied.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

SWAN AT THE MAZE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

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

2023
2022
Number
Number
Total
2
3
SWAN AT THE MAZE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
23,200
-
0
Amounts owed by group undertakings
42,158
-
0
Other debtors
100
100
65,458
100
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
8,323
-
0
Amounts owed to group undertakings
35,000
-
0
Taxation and social security
4,980
-
0
Other creditors
5,125
-
0
53,428
-
0
5
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:
Declan McCusker
Statutory Auditor:
Perrys Audit Limited
Date of audit report:
24 September 2024
6
Related party transactions

At the balance sheet date, the company owed its parent company £38,878 (2022: £Nil). During the year, the company incurred management charges amounting to £35,000 from the parent company.

 

At the balance sheet date, the company was owed £41,387 (2022: £Nil) from fellow group companies.

 

During the year, the company purchased goods from the parent company totalling £39,978.

 

During the year, the company sold goods from a fellow group company totalling £33.

 

During the year, the company purchased goods from a fellow group company totalling £3,250.

SWAN AT THE MAZE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
7
Parent company

The parent company is Swan London, a company registered in England and Wales. The registered office address of the parent company is 4th Floor 399-401 Strand, London, England, WC2R 0LT.

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