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REGISTERED NUMBER: 04578956 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

CHRIS SWABEY LIMITED

CHRIS SWABEY LIMITED (REGISTERED NUMBER: 04578956)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHRIS SWABEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: C R J Swabey
S J Swabey





SECRETARY: Mrs B J Swabey





REGISTERED OFFICE: 44 Sarahs Lane
Padstow
Cornwall
PL28 8EW





REGISTERED NUMBER: 04578956 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

CHRIS SWABEY LIMITED (REGISTERED NUMBER: 04578956)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 8,547 11,372
8,547 11,372

CURRENT ASSETS
Stocks 25,997 4,157
Debtors 6 10,688 9,444
Cash at bank 27,421 34,972
64,106 48,573
CREDITORS
Amounts falling due within one year 7 56,547 48,327
NET CURRENT ASSETS 7,559 246
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,106

11,618

CREDITORS
Amounts falling due after more than one
year

8

-

(4,565

)

PROVISIONS FOR LIABILITIES (2,136 ) (2,161 )
NET ASSETS 13,970 4,892

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 13,870 4,792
SHAREHOLDERS' FUNDS 13,970 4,892

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

CHRIS SWABEY LIMITED (REGISTERED NUMBER: 04578956)

BALANCE SHEET - continued
29 FEBRUARY 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 4 November 2024 and were signed on its behalf by:




C R J Swabey - Director



S J Swabey - Director


CHRIS SWABEY LIMITED (REGISTERED NUMBER: 04578956)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Chris Swabey 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.

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 represents sales of goods and services , excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised over ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

CHRIS SWABEY LIMITED (REGISTERED NUMBER: 04578956)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 5,000
AMORTISATION
At 1 March 2023
and 29 February 2024 5,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023
and 29 February 2024 2,385 67,010 1,879 71,274
DEPRECIATION
At 1 March 2023 2,213 55,828 1,861 59,902
Charge for year 25 2,795 5 2,825
At 29 February 2024 2,238 58,623 1,866 62,727
NET BOOK VALUE
At 29 February 2024 147 8,387 13 8,547
At 28 February 2023 172 11,182 18 11,372

CHRIS SWABEY LIMITED (REGISTERED NUMBER: 04578956)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023
and 29 February 2024 17,298
DEPRECIATION
At 1 March 2023 10,853
Charge for year 1,611
At 29 February 2024 12,464
NET BOOK VALUE
At 29 February 2024 4,834
At 28 February 2023 6,445

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 8,893 9,444
Other debtors 1,795 -
10,688 9,444

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 1,825 -
Trade creditors 5,817 5,076
Tax 12,912 9,909
Social security and other taxes 4,561 3,323
Other creditors 563 912
Directors' current accounts 29,444 27,736
Accrued expenses 1,425 1,371
56,547 48,327

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts - 4,565

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C R J Swabey.