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Company No: 14745525 (England and Wales)

SWAN SONG VENTURES LIMITED

Unaudited Financial Statements
For the financial period from 21 March 2023 to 31 March 2024
Pages for filing with the registrar

SWAN SONG VENTURES LIMITED

Unaudited Financial Statements

For the financial period from 21 March 2023 to 31 March 2024

Contents

SWAN SONG VENTURES LIMITED

BALANCE SHEET

As at 31 March 2024
SWAN SONG VENTURES LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024
£
Fixed assets
Tangible assets 3 1,110
Investments 4 35,000
36,110
Current assets
Debtors 5 17,687
Cash at bank and in hand 2,735
20,422
Creditors: amounts falling due within one year 6 ( 17,533)
Net current assets 2,889
Total assets less current liabilities 38,999
Provision for liabilities ( 278)
Net assets 38,721
Capital and reserves
Called-up share capital 100
Profit and loss account 38,621
Total shareholder's funds 38,721

For the financial period 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 financial statements of Swan Song Ventures Limited (registered number: 14745525) were approved and authorised for issue by the Director on 24 September 2024. They were signed on its behalf by:

Jonathan Simm
Director
SWAN SONG VENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 21 March 2023 to 31 March 2024
SWAN SONG VENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 21 March 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Swan Song Ventures Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hitchcock House Hilltop Park, Devizes Road, Salisbury, SP3 4UF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised over time based on the amount outstanding and the interest rate agreed on the loans.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Period from
21.03.2023 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including the director 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 21 March 2023 0 0
Additions 1,110 1,110
At 31 March 2024 1,110 1,110
Accumulated depreciation
At 21 March 2023 0 0
At 31 March 2024 0 0
Net book value
At 31 March 2024 1,110 1,110

4. Fixed asset investments

Loans Total
£ £
Cost or valuation before impairment
At 21 March 2023 0 0
Additions 35,000 35,000
At 31 March 2024 35,000 35,000
Carrying value at 31 March 2024 35,000 35,000

5. Debtors

31.03.2024
£
Trade debtors 17,000
Other debtors 687
17,687

6. Creditors: amounts falling due within one year

31.03.2024
£
Trade creditors 701
Taxation and social security 9,108
Other creditors 7,724
17,533