Swift Logistic Solutions Limited 05834968 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is that of the provision of storage and distribution facilities and overnight delivery services. Digita Accounts Production Advanced 6.30.9574.0 true true 05834968 2023-10-01 2024-09-30 05834968 2024-09-30 05834968 core:CurrentFinancialInstruments 2024-09-30 05834968 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 05834968 core:Goodwill 2024-09-30 05834968 bus:SmallEntities 2023-10-01 2024-09-30 05834968 bus:Audited 2023-10-01 2024-09-30 05834968 bus:FilletedAccounts 2023-10-01 2024-09-30 05834968 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 05834968 bus:RegisteredOffice 2023-10-01 2024-09-30 05834968 bus:Director1 2023-10-01 2024-09-30 05834968 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 05834968 core:Goodwill 2023-10-01 2024-09-30 05834968 countries:England 2023-10-01 2024-09-30 05834968 2023-09-30 05834968 core:Goodwill 2023-09-30 05834968 2022-10-01 2023-09-30 05834968 2023-09-30 05834968 core:CurrentFinancialInstruments 2023-09-30 05834968 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 05834968 core:Goodwill 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 05834968

Swift Logistic Solutions Limited

Filleted Financial Statements

for the Year Ended 30 September 2024

 

Swift Logistic Solutions Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 5

 

Swift Logistic Solutions Limited

(Registration number: 05834968)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

20,000

25,000

Current assets

 

Debtors

5

778,592

639,540

Cash at bank and in hand

 

259,249

385,131

 

1,037,841

1,024,671

Creditors: Amounts falling due within one year

6

(1,030,960)

(1,031,590)

Net current assets/(liabilities)

 

6,881

(6,919)

Net assets

 

26,881

18,081

Capital and reserves

 

Called up share capital

1

1

Retained earnings

26,880

18,080

Shareholders' funds

 

26,881

18,081

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 June 2025 and signed on its behalf by:
 

.........................................
A G Smith
Director

 

Swift Logistic Solutions Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Swift House
Hambridge Lane
Newbury
Berkshire
RG14 5TU

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors confirm the company continues to have the support of Swift Group of Companies Limited and its fellow subsidiaries, which provides access to sufficient resources for the company to continue in operational existence such that they believe the continued use of the going concern basis to be appropriate.

Audit report
 

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report 5 June 2025 was Andrew Churchill Stone FCA DChA, who signed for and on behalf of Mercer Lewin Limited.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the provision of services.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

Swift Logistic Solutions Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers services provided in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 33 (2023 - 35).

 

Swift Logistic Solutions Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

50,000

50,000

At 30 September 2024

50,000

50,000

Amortisation

At 1 October 2023

25,000

25,000

Amortisation charge

5,000

5,000

At 30 September 2024

30,000

30,000

Carrying amount

At 30 September 2024

20,000

20,000

At 30 September 2023

25,000

25,000

 

Swift Logistic Solutions Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

708,816

585,019

Amounts owed by group undertakings

62,386

48,475

Prepayments

 

4,650

4,614

Other debtors

 

2,740

1,432

   

778,592

639,540

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

401,936

432,616

Amounts owed to group undertakings

439,250

430,899

Taxation and social security

110,137

95,955

Other creditors

79,637

72,120

1,030,960

1,031,590