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REGISTRAR OF COMPANIES

Registration number: 11415785

Swanndri New Zealand (UK) Limited

Financial Statements

30 June 2024

image-name

 

Swanndri New Zealand (UK) Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2

 

Swanndri New Zealand (UK) Limited

(Registration number: 11415785)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Current assets

 

Stocks

457,252

485,896

Debtors

4

35,564

29,687

Cash at bank and in hand

 

19,345

6,350

 

512,161

521,933

Creditors: Amounts falling due within one year

5

(486,247)

(500,529)

Net assets

 

25,914

21,404

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Profit and loss account

25,814

21,304

Total equity

 

25,914

21,404

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 December 2024 and signed on its behalf by:
 

.........................................

B R Clark

Director

 

Swanndri New Zealand (UK) Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 19 December 2024 was A M Johnston, who signed for and on behalf of Dodd & Co Audit Limited.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Swanndri New Zealand (UK) Limited

Notes to the Financial Statements for the Year Ended 30 June 2024 (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Swanndri New Zealand (UK) Limited

Notes to the Financial Statements for the Year Ended 30 June 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Debtors

2024
£

2023
£

Trade debtors

30,206

29,687

Other debtors

5,358

-

35,564

29,687

5

Creditors

2024
£

2023
£

Due within one year

 

Trade creditors

 

(116)

18,947

Amounts owed to group undertakings and undertakings in which the company has a participating interest

 

462,853

462,926

Taxation and social security

 

-

7,286

Corporation tax liability

 

1,059

545

Other creditors

 

22,451

10,825

 

486,247

500,529

6

Parent and ultimate parent undertaking

The company's immediate parent is Swanndri New Zealand Limited, incorporated in New Zealand and registered at 11 Mary Muller Drive, Hillsborough, Christchurch 8022, New Zealand