Acorah Software Products - Accounts Production 16.3.350 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 00495810 Mr Peter Wilkinson Mrs Margaret Wilkinson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 00495810 2023-12-31 00495810 2024-12-31 00495810 2024-01-01 2024-12-31 00495810 frs-core:CurrentFinancialInstruments 2024-12-31 00495810 frs-core:FurnitureFittings 2024-12-31 00495810 frs-core:FurnitureFittings 2024-01-01 2024-12-31 00495810 frs-core:FurnitureFittings 2023-12-31 00495810 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 00495810 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 00495810 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 00495810 frs-core:PlantMachinery 2024-12-31 00495810 frs-core:PlantMachinery 2024-01-01 2024-12-31 00495810 frs-core:PlantMachinery 2023-12-31 00495810 frs-core:OtherReservesSubtotal 2024-12-31 00495810 frs-core:ShareCapital 2024-12-31 00495810 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 00495810 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 00495810 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 00495810 frs-bus:SmallEntities 2024-01-01 2024-12-31 00495810 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 00495810 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 00495810 frs-core:CostValuation 2023-12-31 00495810 frs-core:AdditionsToInvestments 2024-12-31 00495810 frs-core:DisposalsRepaymentsInvestments 2024-12-31 00495810 frs-core:CostValuation 2024-12-31 00495810 frs-core:ListedExchangeTraded 2024-12-31 00495810 frs-core:ListedExchangeTraded 2023-12-31 00495810 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-12-31 00495810 frs-core:AdditionsToInvestments frs-core:ListedExchangeTraded 2024-12-31 00495810 frs-core:DisposalsRepaymentsInvestments frs-core:ListedExchangeTraded 2024-12-31 00495810 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-12-31 00495810 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-12-31 00495810 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-12-31 00495810 frs-core:UnlistedNon-exchangeTraded 2024-12-31 00495810 frs-core:UnlistedNon-exchangeTraded 2023-12-31 00495810 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 00495810 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2024-12-31 00495810 frs-core:DisposalsRepaymentsInvestments frs-core:UnlistedNon-exchangeTraded 2024-12-31 00495810 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-12-31 00495810 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 00495810 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-12-31 00495810 frs-bus:Director1 2024-01-01 2024-12-31 00495810 frs-bus:Director2 2024-01-01 2024-12-31 00495810 frs-countries:EnglandWales 2024-01-01 2024-12-31 00495810 2022-12-31 00495810 2023-12-31 00495810 2023-01-01 2023-12-31 00495810 frs-core:CurrentFinancialInstruments 2023-12-31 00495810 frs-core:OtherReservesSubtotal 2023-12-31 00495810 frs-core:ShareCapital 2023-12-31 00495810 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 00495810
Swift 1012 Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
KP Simpson South Shields Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 00495810
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,629 17,204
Investments 5 75,130 64,827
91,759 82,031
CURRENT ASSETS
Cash at bank and in hand 21,593 18,949
21,593 18,949
Creditors: Amounts Falling Due Within One Year 6 (7,248 ) (6,708 )
NET CURRENT ASSETS (LIABILITIES) 14,345 12,241
TOTAL ASSETS LESS CURRENT LIABILITIES 106,104 94,272
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,105 ) (3,173 )
NET ASSETS 102,999 91,099
CAPITAL AND RESERVES
Called up share capital 7 300 300
Other reserves (830 ) (830 )
Profit and Loss Account 103,529 91,629
SHAREHOLDERS' FUNDS 102,999 91,099
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Peter Wilkinson
Director
14/05/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Swift 1012 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00495810 . The registered office is 4 Sunniside Leigh, Cleadon, Sunderland, SR6 7XH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Plant & Machinery 15% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: 2)
- 2
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2024 39,692 972 11,112 51,776
As at 31 December 2024 39,692 972 11,112 51,776
Depreciation
As at 1 January 2024 23,857 683 10,032 34,572
Provided during the period 369 44 162 575
As at 31 December 2024 24,226 727 10,194 35,147
Net Book Value
As at 31 December 2024 15,466 245 918 16,629
As at 1 January 2024 15,835 289 1,080 17,204
5. Investments
Listed Unlisted Total
£ £ £
Cost
As at 1 January 2024 45,426 19,401 64,827
Additions 13,790 792 14,582
Disposals - (4,279 ) (4,279 )
As at 31 December 2024 59,216 15,914 75,130
Provision
As at 1 January 2024 - - -
As at 31 December 2024 - - -
Net Book Value
As at 31 December 2024 59,216 15,914 75,130
As at 1 January 2024 45,426 19,401 64,827
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - (1 )
Corporation tax 2,072 2,295
Accruals and deferred income 840 840
Directors' loan accounts 4,336 3,574
7,248 6,708
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 300 300
Page 4