REGISTERED NUMBER: 09950233 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

SWIFT COMMUNICATIONS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D E Armstrong

J W Mack

SECRETARY:

J W Mack

REGISTERED OFFICE:

19 Brookside Industrial Estate

Sawtry

Huntingdon

Cambridgeshire

PE28 5SB

REGISTERED NUMBER:

09950233 (England and Wales)

ACCOUNTANTS:

Vertiqo Peterborough Limited

18 Tesla Court

Innovation Way

Lynchwood

Peterborough

Cambridgeshire

PE2 6FL

FIXED ASSETS

Intangible assets

4

9,397

14,098

Tangible assets

5

84,531

79,029

Investments

6

12,205

12,205

106,133

105,332

CURRENT ASSETS

Stocks

6,683

10,504

Debtors

7

84,312

90,041

Cash at bank

134,443

79,554

225,438

180,099

CREDITORS

Amounts falling due within one year

8

159,023

149,649

NET CURRENT ASSETS

66,415

30,450

TOTAL ASSETS LESS CURRENT LIABILITIES

172,548

135,782

CREDITORS

Amounts falling due after more than one year

9

144,633

173,270

NET ASSETS/(LIABILITIES)

27,915

(37,488

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

27,815

(37,588

)

SHAREHOLDERS' FUNDS

27,915

(37,488

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2025 and were signed on its behalf by:

J W Mack - Director

1.	STATUTORY INFORMATION

Swift Communications Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of

discounts and value added taxes. Turnover includes revenue earned from the sale of goods

and from the rendering of services. Turnover from the sale of goods is recognised when the

significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover

from the rendering of services is recognised by reference to the stage of completion of the

contract. The stage of completion of a contract is measured by comparing the costs incurred

for work performed to date to the total estimated contract costs.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

15% on reducing balance, 15% on cost and 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Leased assets

A lease is classified as a finance lease if it transfers substantially all the risks and rewards

incidental to ownership. All other leases are classified as operating leases. The rights of use

and obligations under finance leases are initially recognised as assets and liabilities at

amounts equal to the fair value of the leased assets or, if lower, the present value of the

minimum lease payments. Minimum lease payments are apportioned between the finance

charge and the reduction in the outstanding liability using the effective interest rate method.

The finance charge is allocated to each period during the lease so as to produce a constant

periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated

in accordance with the company's policy for tangible fixed assets. If there is no reasonable

certainty that ownership will be obtained at the end of the lease term, the asset is depreciated

over the lower of the lease term and its useful life. Operating lease payments are recognised

as an expense on a straight line basis over the lease term.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 February 2024

and 31 January 2025

23,500

AMORTISATION

At 1 February 2024

9,402

Charge for year

4,701

At 31 January 2025

14,103

NET BOOK VALUE

At 31 January 2025

9,397

At 31 January 2024

14,098

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2024

124,511

Additions

28,598

Disposals

(13,506

)

At 31 January 2025

139,603

DEPRECIATION

At 1 February 2024

45,482

Charge for year

14,979

Eliminated on disposal

(5,389

)

At 31 January 2025

55,072

NET BOOK VALUE

At 31 January 2025

84,531

At 31 January 2024

79,029

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 February 2024

and 31 January 2025

19,190

DEPRECIATION

At 1 February 2024

5,326

Charge for year

2,080

At 31 January 2025

7,406

NET BOOK VALUE

At 31 January 2025

11,784

At 31 January 2024

13,864

6.	FIXED ASSET INVESTMENTS

2025

2024

£

£

Other investments not loans

12,205

12,205

Additional information is as follows:

Other

investments

£

COST

At 1 February 2024

and 31 January 2025

2,200

NET BOOK VALUE

At 31 January 2025

2,200

At 31 January 2024

2,200

Investments (neither listed nor unlisted) were as follows:

2025

2024

£

£

Investments

10,005

10,005

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

21,978

23,028

Other debtors

62,334

67,013

84,312

90,041

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,000

10,001

Hire purchase contracts

9,159

3,573

Trade creditors

59,586

61,337

Taxation and social security

49,005

34,844

Other creditors

31,273

39,894

159,023

149,649

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

4,167

14,167

Hire purchase contracts

-

9,159

Other creditors

140,466

149,944

144,633

173,270

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

9,159

12,732

The obligation under HP agreements are secured by the underlying assets to which the liability relates.

11.	OTHER FINANCIAL COMMITMENTS

Total future minimum payments under non-cancellable operating leases are £24,077 (2024: £

£38,775)