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REGISTERED NUMBER: 12572478 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

SWIFT FABRICATIONS (SW) LTD

SWIFT FABRICATIONS (SW) LTD (REGISTERED NUMBER: 12572478)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SWIFT FABRICATIONS (SW) LTD

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTORS: Mr D J Smith
Mr W Wood





REGISTERED OFFICE: Unit 50
Paragon Way
Lune Business Park
Lancaster
Lancashire
LA1 5FT





REGISTERED NUMBER: 12572478 (England and Wales)





ACCOUNTANTS: ma2 (Blackpool) Limited
288 Church Street
Blackpool
Lancashire
FY1 3QA

SWIFT FABRICATIONS (SW) LTD (REGISTERED NUMBER: 12572478)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,774 33,265

CURRENT ASSETS
Debtors 5 49,248 76,672
Cash at bank 104,739 64,930
153,987 141,602
CREDITORS
Amounts falling due within one year 6 57,615 45,502
NET CURRENT ASSETS 96,372 96,100
TOTAL ASSETS LESS CURRENT
LIABILITIES

122,146

129,365

CREDITORS
Amounts falling due after more than one
year

7

(15,685

)

(23,214

)

PROVISIONS FOR LIABILITIES (6,443 ) -
NET ASSETS 100,018 106,151

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 99,918 106,051
100,018 106,151

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.

SWIFT FABRICATIONS (SW) LTD (REGISTERED NUMBER: 12572478)

BALANCE SHEET - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2024 and were signed on its behalf by:




Mr D J Smith - Director



Mr W Wood - Director


SWIFT FABRICATIONS (SW) LTD (REGISTERED NUMBER: 12572478)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

Swift Fabrications (SW) Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SWIFT FABRICATIONS (SW) LTD (REGISTERED NUMBER: 12572478)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 8,357 37,300 - 45,657
Additions - - 1,100 1,100
At 30 April 2024 8,357 37,300 1,100 46,757
DEPRECIATION
At 1 May 2023 3,067 9,325 - 12,392
Charge for year 1,322 6,994 275 8,591
At 30 April 2024 4,389 16,319 275 20,983
NET BOOK VALUE
At 30 April 2024 3,968 20,981 825 25,774
At 30 April 2023 5,290 27,975 - 33,265

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1 May 2023
and 30 April 2024 37,300
DEPRECIATION
At 1 May 2023 9,325
Charge for year 6,994
At 30 April 2024 16,319
NET BOOK VALUE
At 30 April 2024 20,981
At 30 April 2023 27,975

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 47,193 75,499
Other debtors 867 -
Social security and other taxes 853 853
Prepayments 335 320
49,248 76,672

SWIFT FABRICATIONS (SW) LTD (REGISTERED NUMBER: 12572478)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Finance leases 7,529 7,529
Trade creditors 335 -
Tax 32,191 17,182
VAT 16,093 15,041
Directors' current accounts 77 4,428
Accrued expenses 1,390 1,322
57,615 45,502

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Finance leases 15,685 23,214

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Finance leases 23,214 30,743

Fixed charges have been placed over the relevant fixed asset for each finance loan.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year advances totalling £121,090 were made to the directors and credits totalling £116,740 were received from the directors.