Company registration number 07752255 (England and Wales)
THE LODDON SWAN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
11 De Grey Square
De Grey Road
Colchester
Essex
CO4 5YQ
THE LODDON SWAN LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
THE LODDON SWAN LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,613
4,719
Current assets
Stocks
17,324
15,326
Debtors
5
22,886
84,045
Cash at bank and in hand
93,256
140,647
133,466
240,018
Creditors: amounts falling due within one year
6
(222,960)
(309,809)
Net current liabilities
(89,494)
(69,791)
Net liabilities
(87,881)
(65,072)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(87,981)
(65,172)
Total equity
(87,881)
(65,072)
THE LODDON SWAN LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 3 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 18 June 2025 and are signed on its behalf by:
Mr A Freeland
Director
Company Registration No. 07752255
THE LODDON SWAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
1
Accounting policies
Company information
The Loddon Swan Limited is a private company limited by shares incorporated in England and Wales. The registered office is Dalham Hall, Newmarket, Suffolk, England, CB8 8TB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Kitchen equipment
25% on cost
Fixtures and fittings
25% on cost
Crockery, cutlery and glassware
33.3% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
THE LODDON SWAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
21
21
THE LODDON SWAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
4
Tangible fixed assets
Kitchen equipment
Fixtures and fittings
Crockery, cutlery and glassware
Total
£
£
£
£
Cost
At 1 October 2023 and 30 September 2024
41,486
90,416
3,308
135,210
Depreciation and impairment
At 1 October 2023
40,788
86,396
3,307
130,491
Depreciation charged in the year
382
2,724
3,106
At 30 September 2024
41,170
89,120
3,307
133,597
Carrying amount
At 30 September 2024
316
1,296
1
1,613
At 30 September 2023
698
4,020
1
4,719
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
18,434
79,293
Other debtors
4,452
4,752
22,886
84,045
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,803
Trade creditors
32,039
47,086
Taxation and social security
45,895
46,771
Other creditors
145,026
210,149
222,960
309,809
7
Going concern
The accounts have been prepared on the Going Concern basis. The company is dependent on the continue support of the major shareholder, who has indicated his willingness to continue with his support of the company.