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Registered Number: 11959611


 

 

 

SWAN MOTORS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 31 March 2023

End date: 29 March 2024
Director REHMATULLAH Nafisa
Registered Number 11959611
Registered Office 69 FENGATE
PETERBOROUGH ENGLAND
PE1 5BA
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 29 March 2024.
Principal activities
Principal activity of the company during the financial year was of selling of used cars and light motor vehicles.
Director
The director who served the company throughout the year was as follows:
REHMATULLAH Nafisa
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
REHMATULLAH Nafisa
Director

Date approved: 28 March 2025
2
 
 
Notes
 
2024
£
  2023
£
Current assets      
Stocks 3 50,100    49,500 
Debtors 4 2,470    3,692 
Cash at bank and in hand 3,193    5,749 
55,763    58,941 
Creditors: amount falling due within one year 5 (15,441)   (13,979)
Net current assets 40,322    44,962 
 
Total assets less current liabilities 40,322    44,962 
Creditors: amount falling due after more than one year 6 (36,201)   (40,272)
Provisions for liabilities 7 (10,200)   (7,500)
Net assets (6,079)   (2,810)
 

Capital and reserves
     
Called up share capital 8 100    100 
Share premium account 9 6,900    6,900 
Profit and loss account (13,079)   (9,810)
Shareholders' funds (6,079)   (2,810)
 


For the year ended 29 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 28 March 2025 and were signed by:


-------------------------------
REHMATULLAH Nafisa
Director
3
  Equity share capital   Equity share premium   Retained Earnings   Total
£ £ £ £
At 31 March 2022 100  6,900  1,686  8,686 
Profit for the year (11,496) (11,496)
Total comprehensive income for the year (11,496) (11,496)
Total investments by and distributions to owners
At 30 March 2023 100  6,900  (9,810) (2,810)
At 31 March 2023 100  6,900  (9,810) (2,810)
Profit for the year (3,269) (3,269)
Total comprehensive income for the year (3,269) (3,269)
Total investments by and distributions to owners
At 29 March 2024 100  6,900  (13,079) (6,079)
4
General Information
SWAN MOTORS LTD is a private company, limited by shares, registered in , registration number 11959611, registration address 69 FENGATE, PETERBOROUGH ENGLAND, PE1 5BA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Stocks

2024
£
  2023
£
Stocks 50,100    49,500 
50,100    49,500 

4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 1,892    2,452 
Prepayments & Accrued Income 578    1,240 
2,470    3,692 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 9,869    8,089 
Accrued Expenses 1,000    1,000 
Other Creditors 4,572    4,890 
15,441    13,979 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 36,201    40,272 
36,201    40,272 

7.

Provisions for liabilities

2024
£
  2023
£
Provision for Warranty Expense 10,200    7,500 
10,200    7,500 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

9.

Share premium account

2024
£
  2023
£
Equity Share Premium b/fwd 6,900    6,900 
6,900    6,900 

5