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Registered Number: 02937502
England and Wales

 

 

 

SWANCOTE HOLDINGS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
  2024   2023
    £ £   £ £
Fixed assets   495,448      510,365 
Current assets 158,965      151,940   
Creditors: amount falling due within one year (2,039)     (2,708)  
Net current assets   156,926      149,232 
Total assets less current liabilities   652,374      659,597 
Creditors: amount falling due after more than one year   (200,000)     (200,000)
Net assets   452,374      459,597 
 

         
Capital and reserves   452,374      459,597 
 
NOTES TO THE ACCOUNTS

General Information
SWANCOTE HOLDINGS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 02937502, registration address Greystones, 28 Sundridge Avenue, Bromley, Kent, BR1 2PX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 18 % Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
2.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 01 June 2023 745,870    745,870 
Additions  
Disposals  
At 31 May 2024 745,870    745,870 
Depreciation
At 01 June 2023 235,505    235,505 
Charge for year 14,917    14,917 
On disposals  
At 31 May 2024 250,422    250,422 
Net book values
Closing balance as at 31 May 2024 495,448    495,448 
Opening balance as at 01 June 2023 510,365    510,365 

The net book value of Land and Buildings includes £ 495,448 (2023 £510,365) in respect of assets leased under finance leases or hire purchase contracts.

3.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).

4.

Ultimate Control

Mr. Peter Leonard Wilton Morgan is the company Director and share holder who has significant control in the business.

For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts.
The financial statements were approved by the director on 20 November 2024 and were signed by:


--------------------------------
Peter Leonard Wilton MORGAN
Director
1