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REGISTERED NUMBER: 13557423 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

SWIFT AND SWIFT LIMITED

SWIFT AND SWIFT LIMITED (REGISTERED NUMBER: 13557423)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SWIFT AND SWIFT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr Matthew Simon Swift
Mr Roger John Swift





REGISTERED OFFICE: Pure Offices Ltd
4100 Park Approach
Thorpe Park
Leeds
LS15 8GB





REGISTERED NUMBER: 13557423 (England and Wales)





ACCOUNTANTS: Syers McGill
9 Kerry Street
Horsforth
Leeds
West Yorkshire
LS18 4AW

SWIFT AND SWIFT LIMITED (REGISTERED NUMBER: 13557423)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 350,000 400,000

CURRENT ASSETS
Stocks 12,607 10,035
Debtors 5 328,253 225,067
Cash at bank 77,198 94,322
418,058 329,424
CREDITORS
Amounts falling due within one year 6 293,853 303,050
NET CURRENT ASSETS 124,205 26,374
TOTAL ASSETS LESS CURRENT
LIABILITIES

474,205

426,374

CREDITORS
Amounts falling due after more than one
year

7

184,863

210,642
NET ASSETS 289,342 215,732

CAPITAL AND RESERVES
Called up share capital 8 101 101
Share premium 9 1,427 1,427
Retained earnings 9 287,814 214,204
SHAREHOLDERS' FUNDS 289,342 215,732

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

SWIFT AND SWIFT LIMITED (REGISTERED NUMBER: 13557423)

BALANCE SHEET - continued
31 AUGUST 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 Board of Directors and authorised for issue on 14 May 2025 and were signed on its behalf by:





Mr Matthew Simon Swift - Director


SWIFT AND SWIFT LIMITED (REGISTERED NUMBER: 13557423)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Swift and Swift 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.

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 2021, is being amortised evenly over its estimated useful life of ten 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.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SWIFT AND SWIFT LIMITED (REGISTERED NUMBER: 13557423)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued

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 2 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 500,000
AMORTISATION
At 1 September 2023 100,000
Amortisation for year 50,000
At 31 August 2024 150,000
NET BOOK VALUE
At 31 August 2024 350,000
At 31 August 2023 400,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 321,166 213,507
Prepayments and accrued income 7,087 11,560
328,253 225,067

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 179,728 129,082
Tax 78,484 57,590
Social security and other taxes 21,842 21,973
Other creditors and accruals 13,799 94,405
293,853 303,050

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Directors' loan accounts 184,863 210,642

SWIFT AND SWIFT LIMITED (REGISTERED NUMBER: 13557423)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
7,000 Ordinary £0.01 70 70
3,000 B Ordinary £0.01 30 30
111 C Ordinary £0.01 1 1
101 101

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 September 2023 214,204 1,427 215,631
Profit for the year 181,146 181,146
Dividends (107,536 ) (107,536 )
At 31 August 2024 287,814 1,427 289,241

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Matthew Simon Swift.