Company registration number 07254597 (England and Wales)
SWIFT INTERIORS & FACILITIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
92 Station Road
Clacton on Sea
Essex
CO15 1SG
SWIFT INTERIORS & FACILITIES LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
SWIFT INTERIORS & FACILITIES LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr Thomas Rinker
Company number
07254597
Registered office
Great Pell Farmhouse
Pell Green
Wadhurst
East Sussex
TN5 6EF
Accountants
TC Group
92 Station Road
Clacton on Sea
Essex
CO15 1SG
SWIFT INTERIORS & FACILITIES LIMITED
BALANCE SHEET
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
362
292
Current assets
Debtors
4
85,592
21,658
Cash at bank and in hand
5,404
47,129
90,996
68,787
Creditors: amounts falling due within one year
5
(85,273)
(17,613)
Net current assets
5,723
51,174
Total assets less current liabilities
6,085
51,466
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
5,985
51,366
Total equity
6,085
51,466
SWIFT INTERIORS & FACILITIES LIMITED
BALANCE SHEET (CONTINUED)
- 3 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 28 January 2025
Mr Thomas Rinker
Director
Company Registration No. 07254597
The notes on pages 4 to 6 form part of these financial statements
SWIFT INTERIORS & FACILITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
1
Accounting policies
Company information
Swift Interiors & Facilities Limited is a private company limited by shares incorporated in England and Wales. The registered office is Great Pell Farmhouse, Pell Green, Wadhurst, East Sussex, TN5 6EF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
SWIFT INTERIORS & FACILITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 5 -
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023
777
Additions
340
Disposals
(399)
At 31 May 2024
718
Depreciation and impairment
At 1 June 2023
485
Depreciation charged in the year
120
Eliminated in respect of disposals
(249)
At 31 May 2024
356
Carrying amount
At 31 May 2024
362
At 31 May 2023
292
SWIFT INTERIORS & FACILITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
81,305
11,658
Corporation tax recoverable
2,971
Other debtors
1,316
10,000
85,592
21,658
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
60,686
5,845
Corporation tax
2,971
Other taxation and social security
15,220
6,260
Other creditors
9,367
2,537
85,273
17,613