SWIFT SIM CONSTRUCTIONS LTD

Company Registration Number:
09056012 (England and Wales)

Unaudited statutory accounts for the year ended 27 November 2024

Period of accounts

Start date: 28 November 2023

End date: 27 November 2024

SWIFT SIM CONSTRUCTIONS LTD

Contents of the Financial Statements

for the Period Ended 27 November 2024

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

SWIFT SIM CONSTRUCTIONS LTD

Company Information

for the Period Ended 27 November 2024




Director: Istiliyan Kostadinov Mihaylov
Registered office: 93 Beeston Way
Beeston Way
Feltham
Middlesex
TW14 0EU
Company Registration Number: 09056012 (England and Wales)

SWIFT SIM CONSTRUCTIONS LTD

Directors' Report Period Ended 27 November 2024

The directors present their report with the financial statements of the company for the period ended 27 November 2024

Principal Activities

41201 - Construction of commercial buildings 41202 - Construction of domestic buildings

Directors

The directors shown below have held office during the whole of the period from 28 November 2023 to 27 November 2024
Istiliyan Kostadinov Mihaylov

This report was approved by the board of directors on 29 July 2025
And Signed On Behalf Of The Board By:

Name: Istiliyan Kostadinov Mihaylov
Status: Director

SWIFT SIM CONSTRUCTIONS LTD

Profit and Loss Account

for the Period Ended 27 November 2024


Notes

2024
£

2023
£
Turnover 175,837 225,786
Gross Profit or (Loss) 175,837 225,786
Administrative Expenses ( 146,789 ) ( 236,506 )
Operating Profit or (Loss) 29,048 ( 10,720 )
Profit or (Loss) Before Tax 29,048 ( 10,720 )
Profit or (Loss) for Period 29,048 ( 10,720 )

The notes form part of these financial statements

SWIFT SIM CONSTRUCTIONS LTD

Balance sheet

As at 27 November 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 4 0 9,489
Total fixed assets: 0 9,489
Current assets
Debtors: 5 20,345
Cash at bank and in hand: 8,803 23,870
Total current assets: 29,148 23,870
Net current assets (liabilities): 29,148 23,870
Total assets less current liabilities: 29,148 33,359
Provision for liabilities: ( 43,879 )
Total net assets (liabilities): 29,148 ( 10,520 )

The notes form part of these financial statements

SWIFT SIM CONSTRUCTIONS LTD

Balance sheet continued

As at 27 November 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 29,048 ( 10,620 )
Shareholders funds: 29,148 ( 10,520 )

For the year ending 27 November 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 29 July 2025
And Signed On Behalf Of The Board By:

Name: Istiliyan Kostadinov Mihaylov
Status: Director

The notes form part of these financial statements

SWIFT SIM CONSTRUCTIONS LTD

Notes to the Financial Statements

for the Period Ended 27 November 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised in accordance with FRS 102 Section 23 (Revenue) and reflects the fair value of consideration receivable from the company’s principal activity: the construction of commercial and domestic buildings.

    Revenue is recognised as follows:

    1. Contract-Based Projects
    Turnover from long-term construction contracts is recognised based on the stage of completion method (percentage of completion), where:

    The outcome of the contract can be reliably estimated;

    Revenue and costs are matched to the degree of completion;

    Progress is typically assessed by project milestones, certifications, or cost-to-completion ratios.

    2. Short-Term Jobs & One-Off Works
    For smaller or short-duration works, turnover is recognised when the job is substantially complete and the invoice is raised.

    3. Retention Amounts
    Retention sums withheld by clients under contract terms are included in turnover only when they become unconditionally due, typically at the end of the defect liability period.

    4. Valuation Certificates
    Where applicable, certified valuations by architects or quantity surveyors form the basis for recognising revenue during the life of the contract.

    Tangible fixed assets depreciation policy

    Disposals:
    Assets no longer in use or disposed of are removed from the balance sheet at their net book value. Any gain or loss on disposal is recognised in the profit and loss account.

    During the year, a company car with a carrying value of £9,489 was written off following an accident and subsequently scrapped. No insurance proceeds or scrap value were received. The full net book value has been recognised as a loss on disposal in the profit and loss account.

SWIFT SIM CONSTRUCTIONS LTD

Notes to the Financial Statements

for the Period Ended 27 November 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 1 1

SWIFT SIM CONSTRUCTIONS LTD

Notes to the Financial Statements

for the Period Ended 27 November 2024

  • 3. Off balance sheet disclosure

    No

SWIFT SIM CONSTRUCTIONS LTD

Notes to the Financial Statements

for the Period Ended 27 November 2024

4. Tangible assets

Motor vehicles Total
Cost £ £
At 28 November 2023 9,489 9,489
Additions - -
Disposals ( 9,489 ) ( 9,489 )
Revaluations - -
Transfers - -
At 27 November 2024 0 0
Depreciation
At 28 November 2023 - -
Charge for year - -
On disposals - -
Other adjustments - -
At 27 November 2024 - -
Net book value
At 27 November 2024 0 0
At 27 November 2023 9,489 9,489

SWIFT SIM CONSTRUCTIONS LTD

Notes to the Financial Statements

for the Period Ended 27 November 2024

5. Debtors


2024
£

2023
£
Trade debtors 20,345
Total 20,345

Trade debtors of £20,345 represent amounts invoiced to customers for completed or partially completed construction work, including certified progress billings and retention sums due under contractual terms. All balances are considered fully recoverable within normal credit terms.