Swan Homes Limited 04754471 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of property development Digita Accounts Production Advanced 6.30.9574.0 true true true 04754471 2023-04-01 2024-03-31 04754471 2024-03-31 04754471 core:RetainedEarningsAccumulatedLosses 2024-03-31 04754471 core:ShareCapital 2024-03-31 04754471 core:CurrentFinancialInstruments 2024-03-31 04754471 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04754471 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 04754471 bus:SmallEntities 2023-04-01 2024-03-31 04754471 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04754471 bus:FilletedAccounts 2023-04-01 2024-03-31 04754471 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04754471 bus:Director3 2023-04-01 2024-03-31 04754471 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04754471 1 2023-04-01 2024-03-31 04754471 countries:AllCountries 2023-04-01 2024-03-31 04754471 2022-04-01 2023-03-31 04754471 2023-03-31 04754471 core:RetainedEarningsAccumulatedLosses 2023-03-31 04754471 core:ShareCapital 2023-03-31 04754471 core:CurrentFinancialInstruments 2023-03-31 04754471 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04754471 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 04754471

Swan Homes Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Swan Homes Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Swan Homes Limited

(Registration number: 04754471)

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Stocks

3

7,973

-

Debtors

4

961,400

1,168,928

Cash at bank and in hand

 

2,817

23,914

 

972,190

1,192,842

Creditors: Amounts falling due within one year

5

(563,726)

(754,857)

Total assets less current liabilities

 

408,464

437,985

Creditors: Amounts falling due after more than one year

5

(535,534)

(544,162)

Net liabilities

 

(127,070)

(106,177)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(127,071)

(106,178)

Shareholders' deficit

 

(127,070)

(106,177)

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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)

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 13 June 2025
 

.........................................

Mr T Shah

Director

 

Swan Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

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)

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

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 
 

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

3

Stocks

2024
£

2023
£

Work in progress

7,973

-

4

Debtors

2024
£

2023
£

Trade debtors

18,178

6,533

Amounts owed by related parties

925,803

1,155,647

Other debtors

17,419

6,748

961,400

1,168,928

 

Swan Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Bank loan

9,398

9,398

Trade creditors

40,373

222,707

Other payables

7,874

18,151

Accruals

4,340

2,860

Other loans

501,741

501,741

563,726

754,857

Due after one year

Bank loans

26,534

35,162

Other loans

509,000

509,000

535,534

544,162


 

Creditors: amounts falling due after more than one year

2024
£

2023
£

Bank loans

26,534

35,162

Other loans

509,000

509,000

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.

6

Parent and ultimate parent undertaking

The company's immediate parent is Swan Homes Group Limited, incorporated in England.