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REGISTERED NUMBER: 05145640 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Swayne Johnson Limited

Swayne Johnson Limited (Registered number: 05145640)






Contents of the Financial Statements
for the year ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

Swayne Johnson Limited

Company Information
for the year ended 31 May 2024







DIRECTORS: D P Scott
M D Tree
C Vaughan
L Viney-Passig
O L Williams





SECRETARY: O L Williams





REGISTERED OFFICE: 2 Hall Square
Denbigh
Denbighshire
LL16 3PA





REGISTERED NUMBER: 05145640 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE

Swayne Johnson Limited (Registered number: 05145640)

Balance Sheet
31 May 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 422,009 427,940

CURRENT ASSETS
Debtors 5 1,615,592 1,727,122
Cash at bank and in hand 225,056 184,271
1,840,648 1,911,393
CREDITORS
Amounts falling due within one year 6 (953,689 ) (823,862 )
NET CURRENT ASSETS 886,959 1,087,531
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,308,968

1,515,471

CREDITORS
Amounts falling due after more than one year 7 (788,447 ) (924,650 )

PROVISIONS FOR LIABILITIES (46,937 ) (40,682 )
NET ASSETS 473,584 550,139

CAPITAL AND RESERVES
Called up share capital 112 112
Share premium 120,298 120,298
Revaluation reserve 108,896 105,720
Capital redemption reserve 29 29
Retained earnings 244,249 323,980
SHAREHOLDERS' FUNDS 473,584 550,139

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.

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 19 February 2025 and were signed on its behalf by:





L Viney-Passig - Director


Swayne Johnson Limited (Registered number: 05145640)

Notes to the Financial Statements
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Swayne Johnson 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.

Revenue recognition
Turnover represents amounts chargeable to clients for professional services provided during the year, inclusive of direct expenses incurred on client assignments but excluding value added tax. Turnover is recognised when a right to consideration has been obtained through performance under each contract, and where it is probable that economic benefits will flow to the entity, and the amount can be measured reliably.

Unbilled revenue is included in debtors within prepayments and accrued income.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

All fixed assets are stated at cost less accumulated depreciation.

Depreciation on all assets is calculated to allocate the depreciable amount to their residual values over their estimated useful lives as follows:

Freehold buildingsat 2% straight line basis
Leasehold land and buildingsat straight line basis over the life of the lease
Computer equipmentat 25% reducing balance
Fixtures and fittingsat 15% reducing balance

Freehold land is not depreciated.

On adoption of FR102, the company retained the previously revalued freehold land and buildings as deemed 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.

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

Swayne Johnson Limited (Registered number: 05145640)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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.

Share capital
Ordinary shares are classed as equity.

Distributions to equity holders
Dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions
A provision is recognised in the balance sheet when the Company has a present legal or constructive obligation as a result of a past event, that can be reliably measured, and it is probable that an outflow of economic benefits will be required to settle the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2023 - 50 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 June 2023 416,032 639,364 1,055,396
Additions - 24,072 24,072
Disposals - (299,663 ) (299,663 )
At 31 May 2024 416,032 363,773 779,805
DEPRECIATION
At 1 June 2023 74,170 553,286 627,456
Charge for year 4,375 17,610 21,985
Eliminated on disposal - (291,645 ) (291,645 )
At 31 May 2024 78,545 279,251 357,796
NET BOOK VALUE
At 31 May 2024 337,487 84,522 422,009
At 31 May 2023 341,862 86,078 427,940

Included in cost of land and buildings is freehold land of £ 207,925 (2023 - £ 207,925 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 284,234 377,780
Other debtors 1,331,358 1,349,342
1,615,592 1,727,122

Swayne Johnson Limited (Registered number: 05145640)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 147,033 241,797
Other loans 187,308 173,738
Tax 142,664 133,982
Social security & other taxes 32,960 33,914
VAT 158,128 123,597
Other creditors 132 2,491
Accruals & deferred income 285,464 114,343
953,689 823,862

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans 63,914 110,592
Other loans - 2-5 years 55,000 68,909
Directors' current accounts 669,533 745,149
788,447 924,650

The CBILs loan is repayable over a period of 67 months commencing August 2021 and interest is charged on a floating rate basis.

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 52,834 52,884
Between one and five years 54,000 54,000
In more than five years 6,750 20,250
113,584 127,134

Swayne Johnson Limited (Registered number: 05145640)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank overdrafts 89,631 125,091
Bank loans 121,316 227,298
210,947 352,389

The bank loan and overdraft of the primary bank are secured by a fixed and floating charge over all current and future assets of the company.

The company's bankers have a legal charge over the following land and buildings:
Church House, High Street, St Asaph
8 Vale Street, Denbigh

S J Noton
D P Scott
M D Tree
C Vaughan
L Viney-Passig
O L Williams

have provided a personal guarantee of £50,000 as security for the company's loans.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Swayne Johnson Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Swayne Johnson Limited for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Swayne Johnson Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Swayne Johnson Limited and state those matters that we have agreed to state to the Board of Directors of Swayne Johnson Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Swayne Johnson Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Swayne Johnson Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Swayne Johnson Limited. You consider that Swayne Johnson Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Swayne Johnson Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE


19 February 2025