Registered number
12878452
SWIMR Limited
Unaudited Filleted Accounts
30 September 2024
SWIMR Limited
Registered number: 12878452
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 1,474,879 1,199,888
Current assets
Debtors 4 15,788 17,147
Cash at bank and in hand 90,693 192,076
106,481 209,223
Creditors: amounts falling due within one year 5 (15,757) (10,515)
Net current assets 90,724 198,708
Total assets less current liabilities 1,565,603 1,398,596
Creditors: amounts falling due after more than one year 6 (1,333,856) (1,332,645)
Net assets 231,747 65,951
Capital and reserves
Called up share capital 100 100
Profit and loss account 231,647 65,851
Shareholders' funds 231,747 65,951
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Karan Sud
Director
Approved by the board on 17 February 2025
SWIMR Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated 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.
2 Employees 2024 2023
Including directors Number Number
Average number of persons employed by the company 2 2
3 Investments
Other
investments
£
Cost
At 1 October 2023 1,199,888
Additions 401,280
Revaluation (6,064)
Disposals (120,225)
At 30 September 2024 1,474,879
4 Debtors 2024 2023
£ £
Other debtors 15,788 17,146
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 15,757 10,515
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 1,333,856 1,332,645
7 Related party transactions 2024 2023
£ £
Owed to the director 1,333,856 1,332,645
The sum owed to the director is repayable on demand and bears no interest.
8 Controlling party
The directors together own 100% of the paid-up capital of the company and hence are the ultimate controlling parties.
9 Other information
SWIMR Limited is a private company limited by shares and incorporated in England. Its registered office is:
C/O Tax Partners
60 Grays Inn Road
London
England
WC1X 8AQ
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