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REGISTERED NUMBER: 10715321 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Swift Dry Cleaning Limited

Swift Dry Cleaning Limited (Registered number: 10715321)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Swift Dry Cleaning Limited (Registered number: 10715321)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £ £
Fixed assets
Intangible assets 4 1 1
Tangible assets 5 6,242 8,322
6,243 8,323

Current assets
Stocks 6 1,000 1,000
Debtors 7 1,387 -
Cash at bank 7,120 5,853
9,507 6,853
Creditors
Amounts falling due within one year 8 (23,897 ) (32,316 )
Net current liabilities (14,390 ) (25,463 )
Total assets less current liabilities (8,147 ) (17,140 )

Creditors
Amounts falling due after more than
one year

9

(18,000

)

(27,500

)
Net liabilities (26,147 ) (44,640 )

Capital and reserves
Called up share capital 1 1
Retained earnings 11 (26,148 ) (44,641 )
Shareholders' funds (26,147 ) (44,640 )

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

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

The director acknowledges his 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.

Swift Dry Cleaning Limited (Registered number: 10715321)

Balance Sheet - continued
30 April 2024


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 director and authorised for issue on 12 January 2025 and were signed by:





Zuhair Moustafa - Director


Swift Dry Cleaning Limited (Registered number: 10715321)

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

1. Statutory information

Swift Dry Cleaning Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10715321

Registered office: 8 Haydon Place
Guildford
GU1 4LL

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Swift Dry Cleaning Limited (Registered number: 10715321)

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

2. Accounting policies - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 5 (2023 - 5 ) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023
and 30 April 2024 120,000
Amortisation
At 1 May 2023
and 30 April 2024 119,999
Net book value
At 30 April 2024 1
At 30 April 2023 1

Swift Dry Cleaning Limited (Registered number: 10715321)

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

5. Tangible fixed assets
Fixtures
and Motor
fittings vehicles Totals
£ £ £
Cost
At 1 May 2023
and 30 April 2024 54,554 17,986 72,540
Depreciation
At 1 May 2023 54,553 9,665 64,218
Charge for year - 2,080 2,080
At 30 April 2024 54,553 11,745 66,298
Net book value
At 30 April 2024 1 6,241 6,242
At 30 April 2023 1 8,321 8,322

6. Stocks
30.4.24 30.4.23
£ £
Finished goods 1,000 1,000

7. Debtors: amounts falling due within one year
30.4.24 30.4.23
£ £
Trade debtors 1,387 -

8. Creditors: amounts falling due within one year
30.4.24 30.4.23
£ £
Bank loans and overdrafts (see note 10)
557

557
Trade creditors 14,760 -
Corporation tax 3,512 -
VAT 5,068 4,196
Other creditors - 27,563
23,897 32,316

9. Creditors: amounts falling due after more than one year
30.4.24 30.4.23
£ £
Bank loans (see note 10) 18,000 27,500

Swift Dry Cleaning Limited (Registered number: 10715321)

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

10. Loans

An analysis of the maturity of loans is given below:

30.4.24 30.4.23
£ £
Amounts falling due within one year or on demand:
Bank loans < 1 year 557 557

Amounts falling due between one and two years:
Bank loans > 1 year 18,000 27,500

11. Reserves
Retained
earnings
£

At 1 May 2023 (44,641 )
Profit for the year 18,493
At 30 April 2024 (26,148 )