Registration number:
Swan Homes Limited
for the Year Ended 31 March 2024
Swan Homes Limited
(Registration number: 04754471)
Balance Sheet as at 31 March 2024
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Note |
2024 |
2023 |
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Current assets |
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Stocks |
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- |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
( |
( |
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Shareholders' deficit |
( |
( |
For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.
Swan Homes Limited
(Registration number: 04754471)
Balance Sheet as at 31 March 2024 (continued)
.........................................
Mr T Shah
Director
Swan Homes Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
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Accounting policies |
Statutory information
Swan Homes Limited is a private company, limited by shares, domiciled in England and Wales, company number 04754471. The registered office is at 3 Cavendish Court, South Parade, Doncaster, DN1 2DJ.
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.
These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Going concern
After due consideration of all relevant factors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
Revenue recognition
Revenue is recognised on the completion of the sale of a completed development.
Government grants
Government grants received are credited against the cost of the development to which they relate.
Tax
The tax expense for the period comprises current tax. Tax is recognised in statement of income and retained earnings except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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.
Swan Homes Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
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1 |
Accounting policies (continued) |
Stocks
Stock consists of speculative property developments in the course of construction valued at cost.
Cost includes all land, construction and other direct costs incurred to the year end in bringing the developments to their current position and location.
Provision is made where it is anticipated that the ultimate sales proceeds derived from a development will be less than cost.
Financial instruments
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Stocks |
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2024 |
2023 |
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Work in progress |
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- |
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Debtors |
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2024 |
2023 |
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Trade debtors |
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Amounts owed by related parties |
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Other debtors |
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Swan Homes Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Bank loan |
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Trade creditors |
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Other payables |
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Accruals |
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Other loans |
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Due after one year |
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Bank loans |
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Other loans |
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Creditors: amounts falling due after more than one year
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2024 |
2023 |
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Bank loans |
26,534 |
35,162 |
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Other loans |
509,000 |
509,000 |
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535,534 |
544,162 |
The bank loans are secured by legal charge over the company's development land and by fixed and floating charge over the property and undertaking of the company.
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Parent and ultimate parent undertaking |
The company's immediate parent is