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COMPANY REGISTRATION NUMBER: 00475749
Swanbrook Services Limited
Filleted Unaudited Financial Statements
31 October 2024
Swanbrook Services Limited
Financial Statements
Year ended 31 October 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Swanbrook Services Limited
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
568,120
534,562
Current assets
Debtors
6
32,328
46,795
Cash at bank and in hand
389
7,792
--------
--------
32,717
54,587
Creditors: amounts falling due within one year
7
( 44,907)
( 9,520)
--------
--------
Net current (liabilities)/assets
( 12,190)
45,067
---------
---------
Total assets less current liabilities
555,930
579,629
Creditors: amounts falling due after more than one year
8
( 4,373)
Provisions
Taxation including deferred tax
( 25)
---------
---------
Net assets
555,930
575,231
---------
---------
Swanbrook Services Limited
Statement of Financial Position (continued)
31 October 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Revaluation reserve
164,618
164,618
Profit and loss account
391,212
410,513
---------
---------
Shareholders funds
555,930
575,231
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 July 2025 , and are signed on behalf of the board by:
K J Thomas
K J West
Director
Director
J A Thomas
Director
Company registration number: 00475749
Swanbrook Services Limited
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Midway House, Herrick Way, Staverton Technology Park, Staverton, Cheltenham, GL51 6TQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents rents receivable for the period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold buildings
-
2% per annum of cost or revalued amount
Plant and machinery
-
20% per annum of reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Freehold land and buildings
Plant and machinery
Total
£
£
£
Cost or valuation
At 1 November 2023
655,000
14,255
669,255
Additions
43,773
43,773
---------
--------
---------
At 31 October 2024
698,773
14,255
713,028
---------
--------
---------
Depreciation
At 1 November 2023
120,708
13,985
134,693
Charge for the year
10,161
54
10,215
---------
--------
---------
At 31 October 2024
130,869
14,039
144,908
---------
--------
---------
Carrying amount
At 31 October 2024
567,904
216
568,120
---------
--------
---------
At 31 October 2023
534,292
270
534,562
---------
--------
---------
Tangible assets held at valuation
The freehold land and buildings were valued by Downing Bentley Chartered Surveyors in February 2011 on the basis of open market value.
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Freehold land and buildings
£
At 31 October 2024
Aggregate cost
634,272
Aggregate depreciation
(273,880)
---------
Carrying value
360,392
---------
At 31 October 2023
Aggregate cost
634,272
Aggregate depreciation
(264,595)
---------
Carrying value
369,677
---------
6. Debtors
2024
2023
£
£
Trade debtors
3,200
Amounts owed by group undertakings and undertakings in which the company has a participating interest
30,069
33,486
Other debtors
2,259
10,109
--------
--------
32,328
46,795
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loan
2,414
Trade creditors
8,865
2,776
Social security and other taxes
175
Other creditors
36,042
4,155
--------
-------
44,907
9,520
--------
-------
The bank loan is supported by the Bounce Back Loan Scheme Guarantee from the UK Government.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loan
4,373
----
-------
The bank loan is supported by the Bounce Back Loan Scheme Guarantee from the UK Government.
9. Events after the end of the reporting period
The company's freehold land and buildings were sold on 25 November 2024.
10. Controlling party
The ultimate parent company is Chelfordsquare Limited, a company registered in England and Wales, and whose registered office address is Midway House, Herrick Way, Staverton Technology Park, Staverton, Cheltenham, GL51 6TQ.