Silverfin false false 30/11/2023 01/12/2022 30/11/2023 Phil Mcginlay 18/11/2020 27 November 2024 The principal activity of the Company is development and selling of real estate. The company did not trade in the year to 30 November 2023. SC681342 2023-11-30 SC681342 bus:Director1 2023-11-30 SC681342 core:CurrentFinancialInstruments 2023-11-30 SC681342 core:CurrentFinancialInstruments 2022-11-30 SC681342 2022-11-30 SC681342 core:ShareCapital 2023-11-30 SC681342 core:ShareCapital 2022-11-30 SC681342 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC681342 core:RetainedEarningsAccumulatedLosses 2022-11-30 SC681342 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-11-30 SC681342 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-11-30 SC681342 bus:OrdinaryShareClass1 2023-11-30 SC681342 2022-12-01 2023-11-30 SC681342 bus:FilletedAccounts 2022-12-01 2023-11-30 SC681342 bus:SmallEntities 2022-12-01 2023-11-30 SC681342 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 SC681342 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC681342 bus:Director1 2022-12-01 2023-11-30 SC681342 2021-12-01 2022-11-30 SC681342 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 SC681342 bus:OrdinaryShareClass1 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC681342 (Scotland)

SWAN AFFORDABLE HOUSING LTD (FORMERLY SWAN NEWHALL ST LTD)

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

SWAN AFFORDABLE HOUSING LTD (FORMERLY SWAN NEWHALL ST LTD)

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023

Contents

SWAN AFFORDABLE HOUSING LTD (FORMERLY SWAN NEWHALL ST LTD)

BALANCE SHEET

AS AT 30 NOVEMBER 2023
SWAN AFFORDABLE HOUSING LTD (FORMERLY SWAN NEWHALL ST LTD)

BALANCE SHEET (continued)

AS AT 30 NOVEMBER 2023
Note 2023 2022
£ £
Current assets
Debtors 3 100 100
100 100
Creditors: amounts falling due within one year 4 ( 1,700) ( 1,700)
Net current liabilities (1,600) (1,600)
Total assets less current liabilities (1,600) (1,600)
Net liabilities ( 1,600) ( 1,600)
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account ( 1,700 ) ( 1,700 )
Total shareholder's deficit ( 1,600) ( 1,600)

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Swan Affordable Housing Ltd (formerly Swan Newhall St Ltd) (registered number: SC681342) were approved and authorised for issue by the Director on 27 November 2024. They were signed on its behalf by:

Phil Mcginlay
Director
SWAN AFFORDABLE HOUSING LTD (FORMERLY SWAN NEWHALL ST LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
SWAN AFFORDABLE HOUSING LTD (FORMERLY SWAN NEWHALL ST LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Swan Affordable Housing Ltd (formerly Swan Newhall St Ltd) (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 58 Waterloo Street, Glasgow, G2 7DA, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. As at the balance sheet date, the company had net liabilities of £1,600 however the director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Debtors

2023 2022
£ £
Other debtors 100 100

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to related parties 1,700 1,700

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 A ordinary shares of £ 1.00 each 100 100

6. Related party transactions

Other related party transactions

2023 2022
£ £
Amounts owed to related parties 1,700 1,700