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Registration number: 01832284

Swifts Transport (Properties) Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2024

 

Swifts Transport (Properties) Ltd

Contents

Company Information

1

Directors' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

Swifts Transport (Properties) Ltd

Company Information

Directors

A Swift

Mrs S Swift

Miss C R Swift

Miss M C Swift

Miss E A Swift

Company secretary

Mrs S Swift

Registered office

Woodlands Road
Dodford
Bromsgrove
Worcestershire
B61 9BN

Accountants

Perrigo Consultants Limited
Anglo House
Worcester Road
Stourport on Severn
DY13 9AW

 

Swifts Transport (Properties) Ltd

Directors' Report for the Year Ended 31 March 2024

The directors present their report and the abridged financial statements for the year ended 31 March 2024.

Directors of the company

The directors who held office during the year were as follows:

A Swift

Mrs S Swift - Company secretary and director

Miss C R Swift

Miss M C Swift

Miss E A Swift

Principal activity

The principal activity of the company is other letting and operating of own or leased real estate.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 8 October 2024 and signed on its behalf by:
 

.........................................
Mrs S Swift
Company secretary and director

 

Swifts Transport (Properties) Ltd

(Registration number: 01832284)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

904,383

908,136

Current assets

 

Debtors

6

10,141

10,877

Cash at bank and in hand

 

44,330

31,325

 

54,471

42,202

Prepayments and accrued income

 

3,304

-

Creditors: Amounts falling due within one year

(17,502)

(13,584)

Net current assets

 

40,273

28,618

Total assets less current liabilities

 

944,656

936,754

Provisions for liabilities

(57,928)

(53,348)

Accruals and deferred income

 

(11,649)

(11,541)

Net assets

 

875,079

871,865

Capital and reserves

 

Called up share capital

7

38,218

38,218

Retained earnings

836,861

833,647

Shareholders' funds

 

875,079

871,865

 

Swifts Transport (Properties) Ltd

(Registration number: 01832284)
Abridged Balance Sheet as at 31 March 2024

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.

Directors' 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 directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 8 October 2024 and signed on its behalf by:
 

.........................................
A Swift
Director

 

Swifts Transport (Properties) Ltd

Notes to the Unaudited Abridged 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.

The address of its registered office is:
Woodlands Road
Dodford
Bromsgrove
Worcestershire
B61 9BN

These financial statements were authorised for issue by the Board on 8 October 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 abridged 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 abridged 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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Swifts Transport (Properties) Ltd

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

Asset class

Depreciation method and rate

Freehold Property

0.5% Straight Line

Long Leasehold

1% Straight Line

Plant & Machinery

10% Reducing Balance

Computer Equipment

25% Reducing Balance

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

5,289

5,189

 

Swifts Transport (Properties) Ltd

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

5

Tangible assets

Land and buildings
£

Long leasehold land and buildings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 April 2023

900,000

34,791

20,693

4,765

Additions

-

-

1,536

-

At 31 March 2024

900,000

34,791

22,229

4,765

Depreciation

At 1 April 2023

22,500

6,403

18,862

4,348

Charge for the year

4,500

348

337

104

At 31 March 2024

27,000

6,751

19,199

4,452

Carrying amount

At 31 March 2024

873,000

28,040

3,030

313

At 31 March 2023

877,500

28,388

1,831

417

Total
£

Cost or valuation

At 1 April 2023

960,249

Additions

1,536

At 31 March 2024

961,785

Depreciation

At 1 April 2023

52,113

Charge for the year

5,289

At 31 March 2024

57,402

Carrying amount

At 31 March 2024

904,383

At 31 March 2023

908,136

Included within the net book value of land and buildings above is £873,000 (2023 - £877,500) in respect of freehold land and buildings and £28,040 (2023 - £28,388) in respect of long leasehold land and buildings.
 

 

Swifts Transport (Properties) Ltd

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

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

38,218

38,218

38,218

38,218