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REGISTERED NUMBER: 13147346 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

SWIFTSURE WEALTH MANAGEMENT LIMITED

SWIFTSURE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 13147346)






Contents of the Financial Statements
for the year ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SWIFTSURE WEALTH MANAGEMENT LIMITED

Company Information
for the year ended 31 January 2024







DIRECTOR: J Heap





REGISTERED OFFICE: 1 Church Hill
Knutsford
WA16 6DH





REGISTERED NUMBER: 13147346 (England and Wales)





ACCOUNTANTS: Camerons Accountancy Consultants Limited
Chartered Accountants
9 Worton Park
Cassington
Witney
Oxfordshire
OX29 4SX

SWIFTSURE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 13147346)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,593,554 5,778,341
Tangible assets 5 84,843 69,790
7,678,397 5,848,131

CURRENT ASSETS
Debtors 6 266,131 240,489
Cash at bank 129,374 11,091
395,505 251,580
CREDITORS
Amounts falling due within one year 7 1,844,232 1,482,025
NET CURRENT LIABILITIES (1,448,727 ) (1,230,445 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,229,670

4,617,686

CREDITORS
Amounts falling due after more than one year 8 (1,939,814 ) (1,098,300 )

PROVISIONS FOR LIABILITIES (336,465 ) (244,971 )
NET ASSETS 3,953,391 3,274,415

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 1,874,900 1,874,900
Fair value reserve 9 1,009,396 734,912
Retained earnings 1,068,995 664,503
3,953,391 3,274,415

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 31 October 2024 and were signed by:





J Heap - Director


SWIFTSURE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 13147346)

Notes to the Financial Statements
for the year ended 31 January 2024

1. STATUTORY INFORMATION

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

Other intangible assets
Other intangible assets, namely client lists, are initially measured at cost. After initial recognition, they are valued using the revaluation model. This allows for the assets to be held at fair value, which can be determined by reference to an active market.

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 - 20% on reducing balance
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

SWIFTSURE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 13147346)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST OR VALUATION
At 1 February 2023 5,778,341
Additions 1,449,235
Revaluations 365,978
At 31 January 2024 7,593,554
NET BOOK VALUE
At 31 January 2024 7,593,554
At 31 January 2023 5,778,341

Valuation at the year end is represented by cost of £6,247,694 and cumulative revaluations of £1,345,860.


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 17,754 - 90,490 7,029 115,273
Additions 3,495 21,479 - 16,253 41,227
At 31 January 2024 21,249 21,479 90,490 23,282 156,500
DEPRECIATION
At 1 February 2023 3,551 - 39,589 2,343 45,483
Charge for year 3,539 2,148 12,726 7,761 26,174
At 31 January 2024 7,090 2,148 52,315 10,104 71,657
NET BOOK VALUE
At 31 January 2024 14,159 19,331 38,175 13,178 84,843
At 31 January 2023 14,203 - 50,901 4,686 69,790

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 266,131 240,489

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 75,975 70,109
Amounts owed to group undertakings - 26,874
Taxation and social security 168,104 98,890
Other creditors 1,600,153 1,286,152
1,844,232 1,482,025

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 1,939,814 1,098,300

SWIFTSURE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 13147346)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

9. RESERVES
Fair
value
reserve
£   
At 1 February 2023 734,912
Revaluations 274,484

At 31 January 2024 1,009,396

10. CONTINGENT LIABILITIES

On 17th September 2021, a legal charge was created over the company’s assets to secure a debenture for Trafalgar Finance Limited, a related party company. The total amount outstanding at 31st January 2024 was £490,870 (£508,841 in 2023). The charge registered under code 131473460001 can be seen at Companies House.

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at 31st January 2024, Swiftsure Wealth Management Limited owed its director, Mr J Heap, £931,554 (£858,469 in 2023). Interest is charged on the loan at market rate and the loan is repayable on demand. The loan is shown under Other Creditors.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Heap.