Registered number
14790286
Swift Properties (Peterborough) Ltd
Filleted Accounts
30 April 2024
Swift Properties (Peterborough) Ltd
Registered number: 14790286
Balance Sheet
as at 30 April 2024
Notes 2024
£
Fixed assets
Tangible assets 3 260,932
Current assets
Cash at bank and in hand 6,303
Creditors: amounts falling due within one year 4 (277,583)
Net current liabilities (271,280)
Net liabilities (10,348)
Capital and reserves
Called up share capital 5
Profit and loss account (10,353)
Shareholders' funds (10,348)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G Gill
Director
Approved by the board on 3 May 2025
Swift Properties (Peterborough) Ltd
Notes to the Accounts
for the period from 10 April 2023 to 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services and is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold land No depreciation
Investment property
Investment property is included at market fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024
Number
Average number of persons employed by the company 0
3 Tangible fixed assets
Land and buildings
£
Cost
Additions 260,932
At 30 April 2024 260,932
Depreciation
At 30 April 2024 -
Net book value
At 30 April 2024 260,932
4 Creditors: amounts falling due within one year 2024
£
Other creditors 277,583
5 Related party transactions
During the year the Company received an advance of £150,000 from Mr G Gill, a director of the Company. The advance is interest free and payable on demand. The balance as at the 30th April 2024 was £150,000.
During the year the Company also received an advances totalling £115,000 from Swift Transport and Haulage Ltd, a Company that owns 20% of the equity. The loan is interest free and repayable on demand. The balance as at the 30th April 2024 was £111,012.
During the year the Company also received an advance of £10,000 from Ms S Gill, a shareholder. The loan is interest free and repayable on demand. The balance as at the 30th April 2024 was £10,000.
6 Other information
Swift Properties (Peterborough) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
84 Eastrea Road
Whittlesey
Peterborough
PE7 2AJ
Swift Properties (Peterborough) Ltd 14790286 false 2023-04-10 2024-04-30 2024-04-30 VT Final Accounts April 2025 Mr G Gill No description of principal activity 14790286 2023-04-10 2024-04-30 14790286 bus:PrivateLimitedCompanyLtd 2023-04-10 2024-04-30 14790286 bus:AuditExemptWithAccountantsReport 2023-04-10 2024-04-30 14790286 bus:Director40 2023-04-10 2024-04-30 14790286 1 2023-04-10 2024-04-30 14790286 2 2023-04-10 2024-04-30 14790286 countries:England 2023-04-10 2024-04-30 14790286 bus:FRS102 2023-04-10 2024-04-30 14790286 bus:FilletedAccounts 2023-04-10 2024-04-30 14790286 2024-04-30 14790286 core:WithinOneYear 2024-04-30 14790286 core:ShareCapital 2024-04-30 14790286 core:RetainedEarningsAccumulatedLosses 2024-04-30 14790286 2023-04-09 iso4217:GBP xbrli:pure