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REGISTERED NUMBER: 05843506 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

SWIMFIN LIMITED

SWIMFIN LIMITED (REGISTERED NUMBER: 05843506)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SWIMFIN LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTOR: K Moseley MBE





SECRETARY: Mrs N A Moseley





REGISTERED OFFICE: Brook House
Edmonds Close
Denington Industrial Estate
Wellingborough
Northamptonshire
NN8 2QY





REGISTERED NUMBER: 05843506 (England and Wales)





ACCOUNTANTS: Fairhurst Accountants Ltd
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

SWIMFIN LIMITED (REGISTERED NUMBER: 05843506)

STATEMENT OF FINANCIAL POSITION
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 19,244 27,081
Tangible assets 5 10,459 9,947
29,703 37,028

CURRENT ASSETS
Stocks 27,804 38,306
Debtors 6 23,671 13,242
Cash at bank 98 509
51,573 52,057
CREDITORS
Amounts falling due within one year 7 52,683 46,330
NET CURRENT (LIABILITIES)/ASSETS (1,110 ) 5,727
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,593

42,755

CREDITORS
Amounts falling due after more than one
year

8

129,397

99,893
NET LIABILITIES (100,804 ) (57,138 )

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 11 (100,805 ) (57,139 )
SHAREHOLDERS' FUNDS (100,804 ) (57,138 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SWIMFIN LIMITED (REGISTERED NUMBER: 05843506)

STATEMENT OF FINANCIAL POSITION - continued
30 June 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 March 2025 and were signed by:





K Moseley MBE - Director


SWIMFIN LIMITED (REGISTERED NUMBER: 05843506)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Swimfin 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.

Going Concern
As at 30 June 2024 the Company had net liabilities of £100,804 (2023: £57,138). However, the financial
statements have been prepared on a going concern basis as the Director has pledged his continuing financial support for a minimum of 12 months from the date of issuing these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable. Basic financial instruments are recognised at 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 statement of financial position date.

SWIMFIN LIMITED (REGISTERED NUMBER: 05843506)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 July 2023 160,551
Additions 1,846
At 30 June 2024 162,397
AMORTISATION
At 1 July 2023 133,470
Amortisation for year 9,683
At 30 June 2024 143,153
NET BOOK VALUE
At 30 June 2024 19,244
At 30 June 2023 27,081

SWIMFIN LIMITED (REGISTERED NUMBER: 05843506)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2023 11,264 2,253 4,959 18,476
Additions 2,656 - - 2,656
At 30 June 2024 13,920 2,253 4,959 21,132
DEPRECIATION
At 1 July 2023 2,170 1,976 4,383 8,529
Charge for year 1,762 42 340 2,144
At 30 June 2024 3,932 2,018 4,723 10,673
NET BOOK VALUE
At 30 June 2024 9,988 235 236 10,459
At 30 June 2023 9,094 277 576 9,947

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 23,671 12,824
Prepayments - 418
23,671 13,242

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 29,521 25,927
Trade creditors 14,425 6,322
Tax (10 ) (10 )
Social security and other taxes 701 677
VAT 1,495 6,077
Other creditors 304 242
Accrued expenses 6,247 7,095
52,683 46,330

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Directors' loan accounts 129,397 99,893

SWIMFIN LIMITED (REGISTERED NUMBER: 05843506)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 29,521 25,927

There is a formal charge in favour of HSBC Plc as a Debenture dated 10 May 2013 for a fixed and floating charge over all property or undertaking of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

11. RESERVES
Retained
earnings
£   

At 1 July 2023 (57,139 )
Deficit for the year (43,666 )
At 30 June 2024 (100,805 )

12. ULTIMATE CONTROLLING PARTY

The controlling party is K Moseley MBE.