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REGISTERED NUMBER: 12601865 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

SWIFTREG LTD

SWIFTREG LTD (REGISTERED NUMBER: 12601865)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SWIFTREG LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: M R Barnes
J A Barnes





REGISTERED OFFICE: Suite 21, 10 Churchill Sqare
Kings Hill
West Malling
Kent
ME19 4YU





REGISTERED NUMBER: 12601865 (England and Wales)





ACCOUNTANTS: The Accountancy Practice Ltd
10 Churchill Square
Kings Hill
West Malling
Kent
ME19 5YU

SWIFTREG LTD (REGISTERED NUMBER: 12601865)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,082 58,875

CURRENT ASSETS
Stocks 1,241,285 832,583
Debtors 5 92,060 602,269
Cash at bank and in hand 1,449,279 1,572,288
2,782,624 3,007,140
CREDITORS
Amounts falling due within one year 6 266,822 749,133
NET CURRENT ASSETS 2,515,802 2,258,007
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,562,884

2,316,882

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,562,784 2,316,782
SHAREHOLDERS' FUNDS 2,562,884 2,316,882

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SWIFTREG LTD (REGISTERED NUMBER: 12601865)

BALANCE SHEET - continued
31 MAY 2024


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 Board of Directors and authorised for issue on 6 September 2024 and were signed on its behalf by:




M R Barnes - Director



J A Barnes - Director


SWIFTREG LTD (REGISTERED NUMBER: 12601865)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Swiftreg Ltd 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.

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.

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

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

SWIFTREG LTD (REGISTERED NUMBER: 12601865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 7,542 6,417 120,698 7,231 141,888
Additions 4,325 - - - 4,325
At 31 May 2024 11,867 6,417 120,698 7,231 146,213
DEPRECIATION
At 1 June 2023 3,299 3,131 69,779 6,804 83,013
Charge for year 2,142 822 12,730 424 16,118
At 31 May 2024 5,441 3,953 82,509 7,228 99,131
NET BOOK VALUE
At 31 May 2024 6,426 2,464 38,189 3 47,082
At 31 May 2023 4,243 3,286 50,919 427 58,875

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 91,959 602,168
Other debtors 101 101
92,060 602,269

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 187,423 125,211
Taxation and social security 46,299 584,633
Other creditors 33,100 39,289
266,822 749,133