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REGISTERED NUMBER: 10653000 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Swarthwaite Limited

Swarthwaite Limited (Registered number: 10653000)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Swarthwaite Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Dr J Rankine
Mrs L Rankine





REGISTERED OFFICE: 3 Park Square
Leeds
LS1 2NE





REGISTERED NUMBER: 10653000 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
3 Park Square
Leeds
LS1 2NE

Swarthwaite Limited (Registered number: 10653000)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Investments 5 211,529 190,282
211,529 190,282

CURRENT ASSETS
Debtors 6 120,090 72,979
Cash at bank 156,779 185,035
276,869 258,014
CREDITORS
Amounts falling due within one year 7 44,351 58,860
NET CURRENT ASSETS 232,518 199,154
TOTAL ASSETS LESS CURRENT
LIABILITIES

444,047

389,436

CREDITORS
Amounts falling due after more than one
year

8

12,649

19,999
NET ASSETS 431,398 369,437

CAPITAL AND RESERVES
Called up share capital 9 3,000 3,000
Retained earnings 10 428,398 366,437
SHAREHOLDERS' FUNDS 431,398 369,437

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Swarthwaite Limited (Registered number: 10653000)

Balance Sheet - continued
31 May 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 14 January 2025 and were signed on its behalf by:





Dr J Rankine - Director


Swarthwaite Limited (Registered number: 10653000)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Swarthwaite 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of services provided, excluding value added tax.

Investments in associates
Investments in associate undertakings are recognised at cost.

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.

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 1 (2023 - 1 ) .

Swarthwaite Limited (Registered number: 10653000)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 10,857
AMORTISATION
At 1 June 2023
and 31 May 2024 10,857
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. FIXED ASSET INVESTMENTS
Interest
in Listed
associate investments Totals
£    £    £   
COST OR VALUATION
At 1 June 2023 3,000 187,282 190,282
Additions - 3,453 3,453
Revaluations - 17,794 17,794
At 31 May 2024 3,000 208,529 211,529
NET BOOK VALUE
At 31 May 2024 3,000 208,529 211,529
At 31 May 2023 3,000 187,282 190,282

Cost or valuation at 31 May 2024 is represented by:

Interest
in Listed
associate investments Totals
£    £    £   
Valuation in 2024 3,000 208,529 211,529

Market value of listed investments at 31 May 2024 - £ 2,024 .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 29,520 46,709
Corporation tax recoverable 22,854 6,629
Directors' current accounts 67,716 19,641
120,090 72,979

Swarthwaite Limited (Registered number: 10653000)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Corporation tax 16,225 10,734
Amounts owed to related undertakings 18,533 38,533
Loan creditor 8,093 8,093
Accrued expenses 1,500 1,500
44,351 58,860

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Loan creditor 12,649 19,999

The bank loan represents a loan under HM Government Coronavirus Business Bounce Back Loan Scheme.
The loan carries an interest rate of 2.5% per annum and it is repayable in accordance with the rules of the scheme.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
3,000 Ordinary £1 3,000 3,000

10. RESERVES
Retained
earnings
£   

At 1 June 2023 366,437
Profit for the year 98,861
Dividends (36,900 )
At 31 May 2024 428,398

11. RELATED PARTY DISCLOSURES

During the year the company raised invoices totalling £80,000 (2023: £80,000) to Skeletal Imaging Limited, a company of which Dr J Rankine and Mrs L Rankine are both directors.

At 31 May 2024 the company owed an amount of £18,533 (2023: £38,533) to Skeletal Imaging Limited.

At 31 May 2024 the company was owed an amount of £67,716 (2023: £19,641) from its directors.

During the year the company paid dividends totalling £36,900 (2023: £20,000) to its directors.

12. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of its directors.