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REGISTERED NUMBER: 06631812 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

LANDSWIFT LIMITED

LANDSWIFT LIMITED (REGISTERED NUMBER: 06631812)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LANDSWIFT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: R K Seton-Clements





REGISTERED OFFICE: 30 The Priory
Priory Park
Blackheath
London
SE3 9XA





REGISTERED NUMBER: 06631812 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

LANDSWIFT LIMITED (REGISTERED NUMBER: 06631812)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 379 506
Investment property 5 1,545,000 1,386,250
1,545,379 1,386,756

CURRENT ASSETS
Debtors 6 10 290
Cash at bank 105,798 40,210
105,808 40,500
CREDITORS
Amounts falling due within one year 7 1,037,063 1,028,537
NET CURRENT LIABILITIES (931,255 ) (988,037 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

614,124

398,719

PROVISIONS FOR LIABILITIES 9 25,416 -
NET ASSETS 588,708 398,719

CAPITAL AND RESERVES
Called up share capital 4 4
Fair value reserve 114,236 91,893
Retained earnings 474,468 306,822
SHAREHOLDERS' FUNDS 588,708 398,719

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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

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

The financial statements were approved by the director and authorised for issue on 7 October 2024 and were signed by:





R K Seton-Clements - Director


LANDSWIFT LIMITED (REGISTERED NUMBER: 06631812)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Landswift Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover consists of two revenue streams, rental income and consultancy.

Rental income
Rental income from commercial and residential property/units is recognised in the period in which it relates.

Consultancy
Consultancy fees invoiced relate to property services supplied by the company director.

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


LANDSWIFT LIMITED (REGISTERED NUMBER: 06631812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 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.

Going concern
Having considered the company's projected performance and expected cashflows, the directors have concluded that the company will be able to meet its liabilities as they fall due and is a going concern. As a result, these financial statements are prepared on a going concern basis.

3. EMPLOYEES

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

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 2,334 567 2,901
DEPRECIATION
At 1 July 2023 2,067 328 2,395
Charge for year 67 60 127
At 30 June 2024 2,134 388 2,522
NET BOOK VALUE
At 30 June 2024 200 179 379
At 30 June 2023 267 239 506

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 1,386,250
Additions 750
Revaluations 158,000
At 30 June 2024 1,545,000
NET BOOK VALUE
At 30 June 2024 1,545,000
At 30 June 2023 1,386,250

LANDSWIFT LIMITED (REGISTERED NUMBER: 06631812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. INVESTMENT PROPERTY - continued

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 138,402
Cost 1,406,598
1,545,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,406,598 1,405,848

Investment property was valued on an open market basis on 30 June 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10 290

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 677,060 777,340
Tax 17,984 5,269
Other creditors 1,150 1,030
Directors' current accounts 337,360 242,439
Accruals and deferred income 3,509 2,459
1,037,063 1,028,537

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 677,060 777,340

The bank loans are secured by fixed and floating charges over the investment properties held on the Balance Sheet.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 25,416 -

Deferred
tax
£   
Charge to Income Statement during year 25,416
Balance at 30 June 2024 25,416