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SWIFT SALE PROPERTIES LTD

Registered Number
SC797128
(Scotland)

Unaudited Financial Statements for the Period ended
31 July 2024

SWIFT SALE PROPERTIES LTD
Company Information
for the period from 30 January 2024 to 31 July 2024

Director

TAYLOR, Owen Lloyd

Registered Address

13 Hareburn Terrace
Bridge Of Don
Aberdeen
AB23 8BE

Registered Number

SC797128 (Scotland)
SWIFT SALE PROPERTIES LTD
Statement of Financial Position
31 July 2024

Notes

2024

£

£

ASSETS
Current assets
Stocks364,597
Cash at bank and in hand8,004
72,601
72,601
72,601
CAPITAL, RESERVES AND LIABILITIES
Capital and reserves
Called up share capital1
Profit and loss account(11,949)
(11,948)
Liabilities
Creditors amounts falling due within one year484,549
72,601
The financial statements were approved and authorised for issue by the Director on 5 February 2025, and are signed on its behalf by:
TAYLOR, Owen Lloyd
Director
Registered Company No. SC797128
SWIFT SALE PROPERTIES LTD
Notes to the Financial Statements
for the period ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

2024
Average number of employees during the year0
3.Stocks

2024

£
Work in progress64,597
Total64,597
4.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables3,532
Bank borrowings and overdrafts46,194
Amounts owed to related parties34,073
Accrued liabilities and deferred income750
Total84,549
5.Creditors: amounts due after one year