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Registered number: 13383418
Swift Holdings and Investments Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13383418
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 202,682 -
Investments 5 75,100 75,100
277,782 75,100
CURRENT ASSETS
Debtors 6 - 660
Cash at bank and in hand 56,651 141,944
56,651 142,604
Creditors: Amounts Falling Due Within One Year 7 (44,661 ) (33,860 )
NET CURRENT ASSETS (LIABILITIES) 11,990 108,744
TOTAL ASSETS LESS CURRENT LIABILITIES 289,772 183,844
NET ASSETS 289,772 183,844
CAPITAL AND RESERVES
Called up share capital 8 200 200
Profit and Loss Account 289,572 183,644
SHAREHOLDERS' FUNDS 289,772 183,844
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Liam Swift
Director
21/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Swift Holdings and Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13383418 . The registered office is 215 London Road, Greenhithe, Kent, DA9 9DQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
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4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 June 2023 -
Additions 202,682
As at 31 May 2024 202,682
Net Book Value
As at 31 May 2024 202,682
As at 1 June 2023 -
5. Investments
Unlisted
£
Cost
As at 1 June 2023 75,100
As at 31 May 2024 75,100
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 75,100
As at 1 June 2023 75,100
6. Debtors
2024 2023
£ £
Due within one year
Other debtors - 660
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,321 660
Inter company account 42,540 32,400
Director's loan account 800 800
44,661 33,860
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
9. Related Party Transactions
Included in the Other Creditors is an amount owed to the company director Mr L Swift totalling £800 (2022 - £100 Debtor), no interest is to be charged.
Included in the Other Creditors is an amount owed to Swift Home Improvements Ltd totalling £32,300 (2022 - £75,000), for which Mr L Swift is a director. No interest is to be charged and no repayment terms have been agreed.
Included in the Other Creditors is an amount owed toHeritage Aluminium Direct Ltd totalling £100 (2022 - £0), for which Mr L Swift is a director. No interest is to be charged and no repayment terms have been agreed.
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