Registered number
05864068
Swiftpath Business Solutions Limited
Filleted Accounts
30 June 2024
Swiftpath Business Solutions Limited Registered number
Balance Sheet 05864068
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 109 145
Investment properties 4 450,000 480,000
Investment in subsidiary 5 - 897
450,109 481,042
Current assets
Debtors 6 3,282 424,950
Cash at bank and in hand 1,214,832 791,814
1,218,114 1,216,764
Creditors: amounts falling due within one year 7 (67,514) (99,852)
Net current assets 1,150,600 1,116,912
Total assets less current liabilities 1,600,709 1,597,954
Provisions for liabilities
Deferred taxation (1,100) (5,500)
Net assets 1,599,609 1,592,454
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,599,608 1,592,453
Shareholders' funds 1,599,609 1,592,454
The director is 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 director acknowledges her 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.
A Whitrod
Director
Approved by the board on 27 May 2025
Swiftpath Business Solutions Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention, as modified by the revaluation of investment properties, 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.
Group accounts
The company and its subsidiary company comprised a small-sized group and the company is therefore not required to prepare group accounts. Accordingly, the financial statements present information about the company as an individual undertaking rather than consolidated accounts for the group.
Turnover
The company's turnover now comprises rental income received from its property investments.
Tangible fixed assets and depreciation
Tangible fixed assets are measured at cost less accumulated depreciation. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Equipment - 25% p.a. on the reducing balance basis
Investment properties
Investment properties are valued at the balance sheet date and included in the accounts at their open market value. Changes in the value of investment properties are taken to the profit and loss account. The company departs from the legal requirement in the Companies Acts to charge depreciation on investment properties in order to satisfy the overriding requirement for the accounts to give a true and fair view of the company's results.
Investment in subsidiaries
Investments in subsidiaries are measured at cost less any provisions made for impairment losses.
Deferred taxation
Full provision is made for deferred tax liabilities resulting from timing differences, including a provision for the tax that would be payable by the company were its investment property to be sold at its balance sheet valuation. Deferred tax is calculated on an un-discounted basis.
Foreign currency translation
Transactions in foreign currencies are recorded at the rate of exchange ruling at the date of the transaction. At the end of each reporting period monetary assets and liabilities are translated at the closing rate of exchange and any differences are taken to profit and loss.
2 Employees 2024 2023
Number Number
Average number of employees 1 1
3 Tangible fixed assets
Equipment
£
Cost
At 1 July 2023 9,522
At 30 June 2024 9,522
Depreciation
At 1 July 2023 9,377
Charge for the year 36
At 30 June 2024 9,413
Net book value
At 30 June 2024 109
At 30 June 2023 145
4 Investment properties
£
Valuation
At 1 July 2023 480,000
Additions 1,495
Deficit on revaluation (31,495)
At 30 June 2024 450,000
Investment properties have been valued by the company as at 30 June 2024 on an open market basis, taking into account professional opinions obtained. The historical cost of the properties at 30 June 2024 amounted to £381,475 (2023: £379,980).
5 Investment in subsidiary
£
Cost
At 1 July 2023 897
Disposals (897)
At 30 June 2024 -
6 Debtors 2024 2023
£ £
Amounts owed by subsidiary company 78 420,464
Other debtors 3,204 4,486
3,282 424,950
7 Creditors: amounts falling due within one year 2024 2023
£ £
Corporate taxes 41,587 36,822
Other taxes - 6,099
Other creditors 25,927 56,931
67,514 99,852
8 Controlling party
At 30 June 2024 the company was controlled by the director, Mrs A Whitrod, who held a beneficial interest in the company's entire issued share capital.
9 Other information
Swiftpath Business Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is 1 Britten Close, Langdon Hills, Basildon SS16 6TB.
Swiftpath Business Solutions Limited 05864068 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts April 2025 A Whitrod No description of principal activity 05864068 2022-07-01 2023-06-30 05864068 core:UnlistedNon-exchangeTraded 2023-06-30 05864068 core:WithinOneYear 2023-06-30 05864068 core:ShareCapital 2023-06-30 05864068 core:RetainedEarningsAccumulatedLosses 2023-06-30 05864068 2023-07-01 2024-06-30 05864068 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05864068 bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 05864068 bus:Director40 2023-07-01 2024-06-30 05864068 core:PlantMachinery 2023-07-01 2024-06-30 05864068 countries:England 2023-07-01 2024-06-30 05864068 bus:FRS102 2023-07-01 2024-06-30 05864068 bus:FilletedAccounts 2023-07-01 2024-06-30 05864068 2024-06-30 05864068 core:UnlistedNon-exchangeTraded 2024-06-30 05864068 core:WithinOneYear 2024-06-30 05864068 core:ShareCapital 2024-06-30 05864068 core:RetainedEarningsAccumulatedLosses 2024-06-30 05864068 core:PlantMachinery 2024-06-30 05864068 core:RevaluationsIncreaseDecreaseInInvestments 2024-06-30 05864068 core:DisposalsRepaymentsInvestments 2024-06-30 05864068 2023-06-30 05864068 core:PlantMachinery 2023-06-30 iso4217:GBP xbrli:pure