SWAIN INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
Swain Investments Limited is a private limited company, incorporated in england and Wales, registered number 3560755. The company's registered address is Leytonstone House, Leytonstone, London, E11 1GA..
The principal activity of the company is that of an investment company. There were no trading activities during the year.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The shareholders have confirmed their continued financial support to the company for the foreseeable future and the director has every reason to believe that this will be forthcoming.
On the basis of this assurance, the director believes it is appropriate to prepapre the financial statements on a going concern basis.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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