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REGISTERED NUMBER: 05361606 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

SWIM WAY LIMITED

SWIM WAY LIMITED (REGISTERED NUMBER: 05361606)






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


SWIM WAY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: Mr D Pastor De Mattos





SECRETARY: Mr D Pastor De Mattos





REGISTERED OFFICE: 34 Lower Richmond Road
Putney
London
SW15 1JP





REGISTERED NUMBER: 05361606 (England and Wales)





ACCOUNTANTS: TaxAgility Limited
34 Lower Richmond Road
Putney
London
SW15 1JP

SWIM WAY LIMITED (REGISTERED NUMBER: 05361606)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 2,666,548 727,594

CURRENT ASSETS
Debtors 5 104,728 77,647
Cash at bank 300,117 1,101,425
404,845 1,179,072
CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR

6

(1,245,557

)

(1,276,257

)
NET CURRENT LIABILITIES (840,712 ) (97,185 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,825,836

630,409

CREDITORS: AMOUNTS FALLING
DUE AFTER MORE THAN ONE YEAR

7

(1,298,736

)

(138,419

)

PROVISIONS FOR LIABILITIES (242,290 ) (138,243 )
NET ASSETS 284,810 353,747

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 284,710 353,647
SHAREHOLDERS' FUNDS 284,810 353,747

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 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.

SWIM WAY LIMITED (REGISTERED NUMBER: 05361606)

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 director and authorised for issue on 8 November 2024 and were signed by:





Mr D Pastor De Mattos - Director


SWIM WAY LIMITED (REGISTERED NUMBER: 05361606)

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

1. STATUTORY INFORMATION

Swim Way 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
Revenue 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.
Freehold property - in accordance with the property
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33% on reducing balance

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 9 (2023 - 9 ) .

SWIM WAY LIMITED (REGISTERED NUMBER: 05361606)

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

4. PROPERTY, PLANT AND EQUIPMENT
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 March 2023 - 781,733 195,543
Additions 1,322,832 668,546 17,201
At 29 February 2024 1,322,832 1,450,279 212,744
DEPRECIATION
At 1 March 2023 - 223,968 37,743
Charge for year - 86,941 42,566
At 29 February 2024 - 310,909 80,309
NET BOOK VALUE
At 29 February 2024 1,322,832 1,139,370 132,435
At 28 February 2023 - 557,765 157,800

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023 44,033 - 4,257 1,025,566
Additions 26,971 47,831 - 2,083,381
At 29 February 2024 71,004 47,831 4,257 3,108,947
DEPRECIATION
At 1 March 2023 34,218 - 2,043 297,972
Charge for year 5,245 8,256 1,419 144,427
At 29 February 2024 39,463 8,256 3,462 442,399
NET BOOK VALUE
At 29 February 2024 31,541 39,575 795 2,666,548
At 28 February 2023 9,815 - 2,214 727,594

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 104,728 77,647

SWIM WAY LIMITED (REGISTERED NUMBER: 05361606)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 113,982 50,235
Trade creditors 287,579 85,362
Taxation and social security 94,823 138,621
Other creditors 749,173 1,002,039
1,245,557 1,276,257

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 1,298,736 138,419

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Business loan - Barclays 890,812 -

8. RESERVES
Retained
earnings
£   

At 1 March 2023 353,647
Profit for the year 125,937
Dividends (194,874 )
At 29 February 2024 284,710

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
Mr D Pastor De Mattos
Balance outstanding at start of year (11,167 ) (75,779 )
Amounts advanced 647 64,612
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,520 ) (11,167 )

It is confirmed that the director's current account is debited with personal transactions and credited with director's remuneration as well as dividends.

The loan is unsecured, interest free and no repayment terms have been agreed.

SWIM WAY LIMITED (REGISTERED NUMBER: 05361606)

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

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr D Pastor De Mattos.