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COMPANY REGISTRATION NUMBER: 05512899
C R Swift Landscaping Ltd
Filleted Unaudited Financial Statements
For the year ended
31 August 2024
C R Swift Landscaping Ltd
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
2,550,084
2,219,210
Current assets
Stocks
23,000
18,400
Debtors
6
596,648
417,134
Cash at bank and in hand
160,255
---------
---------
619,648
595,789
Creditors: amounts falling due within one year
7
1,033,855
811,998
------------
---------
Net current liabilities
414,207
216,209
------------
------------
Total assets less current liabilities
2,135,877
2,003,001
Creditors: amounts falling due after more than one year
8
452,925
412,632
Provisions
Deferred taxation
533,963
460,358
------------
------------
Net assets
1,148,989
1,130,011
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,148,889
1,129,911
------------
------------
Shareholders funds
1,148,989
1,130,011
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
C R Swift Landscaping Ltd
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 10 April 2025 , and are signed on behalf of the board by:
C R Swift Director
Company registration number: 05512899
C R Swift Landscaping Ltd
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Potton House, Wyboston Lakes, Great North Road, Wyboston, Bedford, MK44 3BZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover is measured as the fair value of the consideration received or receivable for goods and services provided during the year, stated net of discounts and of value added tax. In respect of contracts for on-going services, turnover is recognised according to the value of work done in the year or by reference to the stage of completion.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the reporting date.
Operating leases
Lease payments and lease receipts are recognised either as an expense or as income over the lease term on a straight line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements
-
20% reducing balance
Office equipment
-
33% straight line
Motor vehicles
-
25% reducing balance
Plant and machinery
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Lease and hire purchase payments are apportioned between the finance charges and reduction of the outstanding lease liability using the sum of the digits method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution pension plans
The company makes contributions to the personal pension schemes of the directors and certain employees. The annual contributions payable are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 28 (2023: 25 ).
5. Tangible assets
Leasehold improvements
Office equipment
Motor vehicles
Plant and machinery
Total
£
£
£
£
£
Cost
At 1 September 2023
30,363
7,078
739,582
2,637,202
3,414,225
Additions
9,521
1,426
247,535
1,027,790
1,286,272
Disposals
( 3,527)
( 31,908)
( 750,220)
( 785,655)
--------
-------
---------
------------
------------
At 31 August 2024
39,884
4,977
955,209
2,914,772
3,914,842
--------
-------
---------
------------
------------
Depreciation
At 1 September 2023
30,363
6,186
225,345
933,121
1,195,015
Charge for the year
905
546
169,016
381,888
552,355
Disposals
( 3,527)
( 9,764)
( 369,321)
( 382,612)
--------
-------
---------
------------
------------
At 31 August 2024
31,268
3,205
384,597
945,688
1,364,758
--------
-------
---------
------------
------------
Carrying amount
At 31 August 2024
8,616
1,772
570,612
1,969,084
2,550,084
--------
-------
---------
------------
------------
At 31 August 2023
892
514,237
1,704,081
2,219,210
--------
-------
---------
------------
------------
6. Debtors
2024
2023
£
£
Trade debtors
195,481
235,414
Other debtors
401,167
181,720
---------
---------
596,648
417,134
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
45,913
10,056
Trade creditors
251,400
152,739
Social security and other taxes
62,137
75,084
Other creditors
674,405
574,119
------------
---------
1,033,855
811,998
------------
---------
The bank loan of £10,190 (2023: £10,056) has been provided to the company under the Bounce Back Loan Scheme. Included within other creditors is an amount of £379,828 (2023: £261,149) relating to assets acquired under hire purchase and lease agreements. Hire purchase and lease agreements are secured on the assets concerned.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,904
18,040
Other creditors
445,021
394,592
---------
---------
452,925
412,632
---------
---------
The bank loan of £7,904 (2023: £18,040) has been provided to the company under the Bounce Back Loan Scheme. Included within other creditors is an amount of £445,021 (2023: £394,592) relating to assets acquired under hire purchase and lease agreements. Hire purchase and lease agreements are secured on the assets concerned.
9. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in debtors (note 6)
115,804
1,844
Included in provisions
( 533,963)
( 460,358)
---------
---------
( 418,159)
( 458,514)
---------
---------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
533,963
460,358
Unused tax losses
( 115,804)
( 1,844)
---------
---------
418,159
458,514
---------
---------
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
36,827
31,170
--------
--------
11. Directors' advances, credits and guarantees
At the year end, the company owed the directors £ 262,243 (2023: £ 264,746 ). The loan to the company is interest free and repayable on demand.