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Company No: 06931407 (England and Wales)

SWALLOW LIFTS PLATFORMS LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

SWALLOW LIFTS PLATFORMS LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

SWALLOW LIFTS PLATFORMS LIMITED

BALANCE SHEET

As at 30 September 2024
SWALLOW LIFTS PLATFORMS LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 4,378,018 4,347,623
4,378,018 4,347,623
Current assets
Debtors 4 117,870 62,912
Cash at bank and in hand 70,408 13,681
188,278 76,593
Creditors: amounts falling due within one year 5 ( 1,386,927) ( 1,314,324)
Net current liabilities (1,198,649) (1,237,731)
Total assets less current liabilities 3,179,369 3,109,892
Creditors: amounts falling due after more than one year 6 ( 2,450,066) ( 2,453,757)
Provision for liabilities ( 180,237) ( 180,237)
Net assets 549,066 475,898
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 549,064 475,896
Total shareholder's funds 549,066 475,898

For the financial year ending 30 September 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 financial statements of Swallow Lifts Platforms Limited (registered number: 06931407) were approved and authorised for issue by the Director on 20 June 2025. They were signed on its behalf by:

M N Pons
Director
SWALLOW LIFTS PLATFORMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
SWALLOW LIFTS PLATFORMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Swallow Lifts Platforms Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Nexus House, 2 Cray Road, Sidcup, DA14 5DA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 3 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 October 2023 4,326,116 5,943 19,742 3,443 4,355,244
Additions 32,411 350 0 3,591 36,352
At 30 September 2024 4,358,527 6,293 19,742 7,034 4,391,596
Accumulated depreciation
At 01 October 2023 0 4,272 2,879 470 7,621
Charge for the financial year 0 896 4,216 845 5,957
At 30 September 2024 0 5,168 7,095 1,315 13,578
Net book value
At 30 September 2024 4,358,527 1,125 12,647 5,719 4,378,018
At 30 September 2023 4,326,116 1,671 16,863 2,973 4,347,623

4. Debtors

2024 2023
£ £
Other debtors 117,870 62,912

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 103,777 104,015
Trade creditors 210 24,863
Other taxation and social security 18,927 6,616
Obligations under finance leases and hire purchase contracts 4,862 5,737
Other creditors 1,259,151 1,173,093
1,386,927 1,314,324

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 1,586,028 1,621,611
Obligations under finance leases and hire purchase contracts 7,269 13,447
Other creditors 856,769 818,699
2,450,066 2,453,757

The £1,063,940 mortgage is secured by a fixed and floating charge against all land and buildings and fixtures vested in the company together with future land and buildings. The £210,000 Mortgage over 2A, Holland Road, South Norwood, London, SE25 5RF is secured by a legal charge over the Top Floor Flat, 71 Portland Road, South Norwood, London, SE25 4UN. All other bank loans outstanding remain unsecured at the year end.

Other Borrowings
Hire purchase and finance lease agreements have a carrying amount at the year end of £12,131 (2023: £19,184) and are secured over the assets to which they relate.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Related party transactions

Other related party transactions

2024 2023
£ £
Amounts receivable from Swallow Lifts Installations Limited 109,658 59,163
Amounts payable to Swallow Lifts Limited 1,303,478 1,230,421

Mr M N Pons is personally interested in 100% of the share capital of both Swallow Lifts Limited and Swallow Lifts Installations Limited.