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REGISTERED NUMBER: 02181900 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Swanmore Estates Limited

Swanmore Estates Limited (Registered number: 02181900)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Swanmore Estates Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: Mr A J White
Mr SFC Jeffery





SECRETARY: Mr SFC Jeffery





REGISTERED OFFICE: Suite B
Blackdown House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX





REGISTERED NUMBER: 02181900 (England and Wales)

Swanmore Estates Limited (Registered number: 02181900)

Balance Sheet
30 November 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investment property 4 15,664,851 16,058,120

CURRENT ASSETS
Debtors 5 142,044 132,647
Cash at bank 139,538 264,341
281,582 396,988
CREDITORS
Amounts falling due within one year 6 972,236 746,922
NET CURRENT LIABILITIES (690,654 ) (349,934 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,974,197

15,708,186

CREDITORS
Amounts falling due after more than one
year

7

4,572,672

5,620,614
NET ASSETS 10,401,525 10,087,572

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 10,401,425 10,087,472
10,401,525 10,087,572

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

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

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by:




Mr A J White - Director



Mr SFC Jeffery - Director


Swanmore Estates Limited (Registered number: 02181900)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Swanmore Estates 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income due for the year excluding VAT where appropriate.

Investment properties
In accordance with section 16 of FRS 102, Investment properties are revalued annually and the surplus or deficit on revaluation is transferred to the profit and loss account. Any profits generated by revaluation are transferred from the profit and loss reserve account to the fair value reserve account, the fair value reserve account represents the non-distributable element of shareholders funds.

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 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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

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

Swanmore Estates Limited (Registered number: 02181900)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023 16,058,120
Additions 346,731
Disposals (490,000 )
Revaluations (250,000 )
At 30 November 2024 15,664,851
NET BOOK VALUE
At 30 November 2024 15,664,851
At 30 November 2023 16,058,120

Fair value at 30 November 2024 is represented by:
£   
Valuation in 2024 (250,000 )
Valuation in 2023 287,167
Valuation in 2022 (352,663 )
Valuation in 2021 108,483
Valuation in 2020 (1,929,527 )
Valuation in 2018 1,054,298
Valuation in 2017 592,362
Cost 16,154,731
15,664,851

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 16,207,792 16,333,132

The property portfolio comprising of several properties has been revalued by the directors who are not qualified valuers.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 140,996 131,945
Prepayments and accrued income 1,048 702
142,044 132,647

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 451,145 330,919
Trade creditors 71,763 36,720
Corporation tax 178,227 47,521
VAT 23,955 61,016
Other creditor 1 1
Directors' loan accounts 473 473
Accruals and deferred income 246,672 270,272
972,236 746,922

Swanmore Estates Limited (Registered number: 02181900)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 451,465 679,239
Bank loans - 2-5 years 4,121,207 4,941,375
4,572,672 5,620,614

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 5,023,817 5,951,533

The bank overdraft and loans are secured by charges held over the company's investment properties and an unlimited debenture.

9. RESERVES
Retained
earnings
£   

At 1 December 2023 10,087,472
Profit for the year 313,953
At 30 November 2024 10,401,425

10. RELATED PARTY DISCLOSURES

The company was under the control of the two directors, Mr S F C Jeffery and Mr A J White throughout the current year. Somerset Land Ltd, a company under the control of Mr S F C Jeffery holds 50% of the issued share capital and Marblehome Ltd, a company under the control of Mr A J White holds 50% of the issued share capital.