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REGISTERED NUMBER: 09109360 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Swept Property Company Limited

Swept Property Company Limited (Registered number: 09109360)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Swept Property Company Limited

Company Information
for the Year Ended 30 April 2024







Directors: R J C W Beswick
W Ryan-Beswick
B Ryan-Beswick





Registered office: 114 - 120 Northgate Street
Chester
CH1 2HT





Registered number: 09109360 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

Swept Property Company Limited (Registered number: 09109360)

Statement of Financial Position
30 April 2024

30/4/24 30/4/23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 403,003 413,015

Current assets
Debtors 5 50,734 93,324
Cash at bank 92,684 822
143,418 94,146
Creditors
Amounts falling due within one year 6 55,184 54,556
Net current assets 88,234 39,590
Total assets less current liabilities 491,237 452,605

Capital and reserves
Called up share capital 1 1
Retained earnings 491,236 452,604
491,237 452,605

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Swept Property Company Limited (Registered number: 09109360)

Statement of Financial Position - continued
30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2024 and were signed on its behalf by:





B Ryan-Beswick - Director


Swept Property Company Limited (Registered number: 09109360)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. Statutory information

Swept Property Company 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from property rental is recognised on an accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold land and buildings - Straight line over 50 years

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


Swept Property Company Limited (Registered number: 09109360)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. Employees and directors

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

4. Tangible fixed assets
Freehold
land and
buildings
£   
Cost
At 1 May 2023
and 30 April 2024 500,620
Depreciation
At 1 May 2023 87,605
Charge for year 10,012
At 30 April 2024 97,617
Net book value
At 30 April 2024 403,003
At 30 April 2023 413,015

5. Debtors: amounts falling due within one year
30/4/24 30/4/23
£    £   
Amounts owed by group undertakings 50,400 92,786
Other debtors 334 538
50,734 93,324

Swept Property Company Limited (Registered number: 09109360)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. Creditors: amounts falling due within one year
30/4/24 30/4/23
£    £   
Trade creditors 599 548
Amounts owed to group undertakings 19,500 19,288
Taxation and social security 20,499 19,990
Other creditors 14,586 14,730
55,184 54,556

7. Related party disclosures

The parent company of Swept Property Company Limited has made loans to the company.
At 30 April 2024 the balance on these loans was £19,500 (2023 - £19,288). The loans are
interest free, unsecured and repayable on demand.

Swept Property Company Limited has provided a guarantee in respect of the bank borrowings of a group company, which stood at £90,000 at 30 April 2024 (2023 - £130,000). The bank has taken a charge over the company's freehold property to secure these borrowings.