BrightAccountsProduction v1.0.0 v1.0.0 2023-02-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of the construction of commercial buildings. 29 January 2025 4 5 NI658171 2024-01-31 NI658171 2023-01-31 NI658171 2022-01-31 NI658171 2023-02-01 2024-01-31 NI658171 2022-02-01 2023-01-31 NI658171 uk-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 NI658171 uk-curr:PoundSterling 2023-02-01 2024-01-31 NI658171 uk-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 NI658171 uk-bus:AbridgedAccounts 2023-02-01 2024-01-31 NI658171 uk-bus:Director1 2023-02-01 2024-01-31 NI658171 uk-bus:Director2 2023-02-01 2024-01-31 NI658171 uk-bus:RegisteredOffice 2023-02-01 2024-01-31 NI658171 uk-bus:Agent1 2023-02-01 2024-01-31 NI658171 uk-core:ShareCapital 2024-01-31 NI658171 uk-core:ShareCapital 2023-01-31 NI658171 uk-core:RetainedEarningsAccumulatedLosses 2024-01-31 NI658171 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 NI658171 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-01-31 NI658171 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-01-31 NI658171 uk-bus:FRS102 2023-02-01 2024-01-31 NI658171 uk-core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 NI658171 uk-core:MotorVehicles 2023-02-01 2024-01-31 NI658171 2023-02-01 2024-01-31 NI658171 uk-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI658171
 
 
Swift Interiors Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 January 2024
Swift Interiors Ltd
DIRECTORS AND OTHER INFORMATION

 
Directors Mr. Robert Graham
Mr. Aidan Johnston
 
 
Company Registration Number NI658171
 
 
Registered Office and Business Address 30 Mount Pleasant Road
Newtownabbey
BT37 0NQ
Northern Ireland
 
 
Accountants Muldoon & Co Ltd
Chartered Accountants & Registered Auditors
16 Mount Charles
Belfast
BT7 1NZ
Northern Ireland



Swift Interiors Ltd
Company Registration Number: NI658171
ABRIDGED STATEMENT OF FINANCIAL POSITION
as at 31 January 2024

2024 2023
Notes £ £
 
Non-Current Assets
Property, plant and equipment 4 21,880 27,463
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Current Assets
Stocks 5,000 5,000
Debtors 506,509 508,885
Cash and cash equivalents 177,779 122,168
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689,288 636,053
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Creditors: amounts falling due within one year (350,421) (342,409)
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Net Current Assets 338,867 293,644
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Total Assets less Current Liabilities 360,747 321,107
 
Creditors:
amounts falling due after more than one year (29,571) (45,124)
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Net Assets 331,176 275,983
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Capital and Reserves
Called up share capital 4 4
Retained earnings 331,172 275,979
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Equity attributable to owners of the company 331,176 275,983
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Income Statement and Directors' Report.
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 29 January 2025 and signed on its behalf by
           
           
           
________________________________          
Mr. Robert Graham          
Director          
           



Swift Interiors Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 January 2024

   
1. General Information
 
Swift Interiors Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI658171. The registered office of the company is 30 Mount Pleasant Road, Newtownabbey, BT37 0NQ, Northern Ireland which is also the principal place of business of the company. The principal activity of the company is that of the construction of commercial buildings. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 January 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 20% Reducing Balance
  Motor vehicles - 25% Reducing Balance
 
Leasing and hire purchases
Property, plant and equipment held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Income Statement.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was:
 
  2024 2023
  Number Number
 
Employees 4 5
  ═════════ ═════════
         
4. Property, plant and equipment
  Fixtures, Motor Total
  fittings and vehicles  
  equipment    
  £ £ £
Cost
At 1 February 2023 10,613 40,700 51,313
Additions 992 - 992
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At 31 January 2024 11,605 40,700 52,305
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Depreciation
At 1 February 2023 4,916 18,934 23,850
Charge for the financial year 1,134 5,441 6,575
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At 31 January 2024 6,050 24,375 30,425
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Net book value
At 31 January 2024 5,555 16,325 21,880
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At 31 January 2023 5,697 21,766 27,463
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