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REGISTERED NUMBER: 05300571 (England and Wales)









Financial Statements

for the Year Ended 31 December 2024

for

Swiftquill Limited

Swiftquill Limited (Registered number: 05300571)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Swiftquill Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: J N Sidwell





REGISTERED OFFICE: c/o Parker Cavendish, Suite 301,
Stanmore Business and Innovation Centre
Howard Road
Stanmore
Middlesex
HA7 1FW





REGISTERED NUMBER: 05300571 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
Suite 301
Stanmore Business and Innovation Centre
Howard Road
Stanmore
Middlesex
HA7 1FW

Swiftquill Limited (Registered number: 05300571)

Statement of Financial Position
31 December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 48,513 53,446
48,513 53,446

CURRENT ASSETS
Cash at bank 427,893 300,025

CREDITORS
Amounts falling due within one year 6 (175,209 ) (98,624 )
NET CURRENT ASSETS 252,684 201,401
TOTAL ASSETS LESS CURRENT
LIABILITIES

301,197

254,847

PROVISIONS FOR LIABILITIES (12,072 ) (13,292 )
NET ASSETS 289,125 241,555

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 289,025 241,455
SHAREHOLDERS' FUNDS 289,125 241,555

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 May 2025 and were signed by:





J N Sidwell - Director


Swiftquill Limited (Registered number: 05300571)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Swiftquill 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 2005, is being amortised evenly over its estimated useful life of five 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.
Musical equipment - 20% on reducing balance
Fixtures, fittings & equipment - 20% on reducing balance
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Swiftquill Limited (Registered number: 05300571)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 37,500
AMORTISATION
At 1 January 2024
and 31 December 2024 37,500
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures,
Musical fittings Computer
equipment & equipment equipment Totals
£    £    £    £   
COST
At 1 January 2024 43,751 54,256 23,285 121,292
Additions - 6,554 595 7,149
At 31 December 2024 43,751 60,810 23,880 128,441
DEPRECIATION
At 1 January 2024 27,529 18,435 21,882 67,846
Charge for year 3,245 8,260 577 12,082
At 31 December 2024 30,774 26,695 22,459 79,928
NET BOOK VALUE
At 31 December 2024 12,977 34,115 1,421 48,513
At 31 December 2023 16,222 35,821 1,403 53,446

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 55,328 25,399
Value added tax 20,255 28,462
Directors' current accounts 96,075 41,106
Accruals & deferred income 3,551 3,657
175,209 98,624