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REGISTERED NUMBER: 14017200 (England and Wales)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SWIFT UK2 LIMITED

SWIFT UK2 LIMITED (REGISTERED NUMBER: 14017200)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SWIFT UK2 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: O Aubert
F Pasquier





REGISTERED OFFICE: C/O Fieldfisher Riverbank House
2 Swan Lane,
London
EC4R 3TT





REGISTERED NUMBER: 14017200 (England and Wales)





AUDITORS: Orcom Civvals Audit Limited
Chartered Accountants and
Statutory Auditors
50 Seymour Street
London
W1H 7JG

SWIFT UK2 LIMITED (REGISTERED NUMBER: 14017200)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investments 4 18,399,902 16,499,902

CREDITORS
Amounts falling due within one year 5 (21,600 ) (7,000 )
NET CURRENT LIABILITIES (21,600 ) (7,000 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,378,302

16,492,902

CAPITAL AND RESERVES
Called up share capital 18,399,902 16,499,902
Retained earnings (21,600 ) (7,000 )
9 18,378,302 16,492,902

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by:





F Pasquier - Director


SWIFT UK2 LIMITED (REGISTERED NUMBER: 14017200)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Swift UK2 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Investments in subsidiaries and associates
Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Income statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in unlisted shares, whose market value cannot be reliably determined, are carried at cost unless the directors consider that impairment is required upon annual reviews by the valuation committee.

SWIFT UK2 LIMITED (REGISTERED NUMBER: 14017200)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Exemption from preparing consolidated financial statements
The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of a state other than the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 401 of the Companies Act 2006.

Going concern
The company is owned, financed and supported by group entities. As such the Directors are of the opinion that with appropriate support from the group, the company will be able to meet its financial obligations for a period of 12 months from date of signature.

The Company's controlling entity has confirmed their willingness to support for the foreseeable future.
The directors believe that the Company's future plans will be viable and that the company will have sufficient cash resources for the next twelve months.

On this basis the directors are of the opinion that the use of the going concern basis is appropriate in the preparation of these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023 16,499,902
Additions 1,900,000
At 31 March 2024 18,399,902
NET BOOK VALUE
At 31 March 2024 18,399,902
At 31 March 2023 16,499,902

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 21,600 7,000

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Philip Jones (Senior Statutory Auditor)
for and on behalf of Orcom Civvals Audit Limited

SWIFT UK2 LIMITED (REGISTERED NUMBER: 14017200)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

8. ULTIMATE CONTROLLING PARTY

The Company's immediate parent company is Swen Impact Fund for Transition, a company incorporated in France, managed by Swen Capital Partners. The company registered address is 20/22 Rue Vernier 75017 Paris, France.

9. RECONCILIATION OF MOVEMENTS IN RESERVES
2024 2023
£    £   
Loss for the financial year (14,600 ) (7,000 )
New share capital subscribed 1,900,000 16,499,902
Net addition to reserves 1,885,400 16,492,902
Opening reserves 16,492,902 -
Closing reserves 18,378,302 16,492,902