3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 708,636 708,636 607,756 607,756 100,880 xbrli:pure xbrli:shares iso4217:GBP 02088245 2023-07-01 2024-06-30 02088245 2024-06-30 02088245 2023-06-30 02088245 2022-07-01 2023-06-30 02088245 2023-06-30 02088245 2022-06-30 02088245 bus:Director1 2023-07-01 2024-06-30 02088245 core:WithinOneYear 2024-06-30 02088245 core:WithinOneYear 2023-06-30 02088245 core:ShareCapital 2024-06-30 02088245 core:ShareCapital 2023-06-30 02088245 core:RetainedEarningsAccumulatedLosses 2024-06-30 02088245 core:RetainedEarningsAccumulatedLosses 2023-06-30 02088245 core:CostValuation core:Non-currentFinancialInstruments 2023-06-30 02088245 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-06-30 02088245 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-06-30 02088245 core:DisposalsDecreaseInProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2024-06-30 02088245 core:Non-currentFinancialInstruments 2023-06-30 02088245 bus:SmallEntities 2023-07-01 2024-06-30 02088245 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 02088245 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 02088245 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02088245 bus:FullAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 02088245
Swannington Investments Limited
Previously known as Aston Group Limited
Unaudited financial statements
30 June 2024
Swannington Investments Limited
Previously known as Aston Group Limited
Statement of financial position
30 June 2024
2024
2023
Note
£
£
£
£
Fixed assets
Investments
5
100,880
Current assets
Debtors
6
728
556
Investments
7
1,370,965
1,285,451
Cash at bank and in hand
11,558
30,113
-----------
-----------
1,383,251
1,316,120
Creditors: Amounts falling due within one year
8
( 10,350)
( 140,832)
-----------
-----------
Net current assets
1,372,901
1,175,288
-----------
-----------
Total assets less current liabilities
1,372,901
1,276,168
-----------
-----------
Capital and reserves
Called up share capital
100
100
Profit and loss account
9
1,372,801
1,276,068
-----------
-----------
Shareholders funds
1,372,901
1,276,168
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 July 2024 , and are signed on behalf of the board by:
Lord Prior
Director
Company registration number: 02088245
Swannington Investments Limited
Previously known as Aston Group Limited
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sixty Six, North Quay, Great Yarmouth, Norfolk, NR30 1HE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover represents dividend income received from listed investments.
Investments
Shares in group undertakings are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed and unlisted investments, not in group undertakings, are measured at fair value with changes in fair value being recognised in profit or loss.
4. Employee numbers
The average number of employees during the year was 3 (2023: 1 ).
5. Investments
Shares in group undertakings
£
Cost
At 1 July 2023
708,636
Disposals
( 708,636)
---------
At 30 June 2024
---------
Impairment
At 1 July 2023
607,756
Disposals
( 607,756)
---------
At 30 June 2024
---------
Carrying amount
At 30 June 2024
---------
At 30 June 2023
100,880
---------
The company owns 0% (2023: 100%) of the share capital of Delta Purple Limited (formerly Aston Boats Limited) which is registered in England. Delta Purple Limited is in the process of being dissolved.
6. Debtors
2024
2023
£
£
Other debtors
728
556
----
----
7. Investments
2024
2023
£
£
Listed investments
1,116,405
979,470
Unlisted investments
254,560
305,981
-----------
-----------
1,370,965
1,285,451
-----------
-----------
The increase in fair value of £136,935 (2023: increase of £53,545) has been credited to profit and loss.
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
130,680
Other creditors
10,350
10,152
-------
---------
10,350
140,832
-------
---------
9. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses. Within this reserve are cumulative unrealised gains on the company's investments shown at market value of £213,973 (2023: £111,632). No tax liability will arise on these gains due to the unused tax losses being carried forward.