REGISTERED NUMBER: 03098631 (England and Wales)

Audited Financial Statements

for the Period 31st December 2023 to 28th December 2024

for

Swain Lifting Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R. J. Swain

M. G. Swain

M. Deer

S. J. Rigby

REGISTERED OFFICE:

Vulcan House

Medway Freight Centre

Priory Road

Rochester

Kent

ME2 2BD

REGISTERED NUMBER:

03098631 (England and Wales)

AUDITORS:

Beak Kemmenoe

Chartered Accountants

& Statutory Auditors

1-3 Manor Road

Chatham

Kent

ME4 6AE

FIXED ASSETS

Tangible assets

4

515,043

306,807

CURRENT ASSETS

Debtors

5

1,349,737

1,672,381

Cash at bank

14,936

53,184

1,364,673

1,725,565

CREDITORS

Amounts falling due within one year

6

593,317

1,461,010

NET CURRENT ASSETS

771,356

264,555

TOTAL ASSETS LESS CURRENT LIABILITIES

1,286,399

571,362

CREDITORS

Amounts falling due after more than one year

7

(207,695

)

-

PROVISIONS FOR LIABILITIES

9

(98,518

)

(30,523

)

NET ASSETS

980,186

540,839

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

980,086

540,739

SHAREHOLDERS' FUNDS

980,186

540,839

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th September 2025 and were signed on its behalf by:

M. Deer - Director

1.	STATUTORY INFORMATION

Swain Lifting Solutions Limited 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.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% - 25% on reducing balance

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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.

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.

Going concern

The company was affected by the Covid 19 pandemic but since then turnover has recovered and therefore the directors believe that the going concern basis is applicable and has therefore been adopted.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 23 (2023 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 31st December 2023

1,357,844

Additions

326,992

Disposals

(25,245

)

At 28th December 2024

1,659,591

DEPRECIATION

At 31st December 2023

1,051,037

Charge for period

117,063

Eliminated on disposal

(23,552

)

At 28th December 2024

1,144,548

NET BOOK VALUE

At 28th December 2024

515,043

At 30th December 2023

306,807

5.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

1,002,256

1,279,421

Prepayments and accrued income

272,365

140,452

1,274,621

1,419,873

Amounts falling due after more than one year:

Other debtors

75,116

252,508

Aggregate amounts

1,349,737

1,672,381

Trade debtors in the sum of £1,002,256 (2023: £1,279,421) were subject to an invoice discounting agreement.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

28,878

-

Hire purchase contracts

65,551

5,786

Trade creditors

61,774

273,936

Social security and other taxes

31,362

29,752

Other creditors and accruals

405,752

1,151,536

593,317

1,461,010

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

207,695

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

273,246

5,786

Hire purchase agreements are secured against the assets financed.

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

98,518

30,523

Deferred

tax

£

Balance at 31st December 2023

30,523

Charge to Income Statement during period

67,995

Balance at 28th December 2024

98,518

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ronald Price FCA (Senior Statutory Auditor)

for and on behalf of Beak Kemmenoe

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R. J. Swain.

12.	HOLDING COMPANY

The company is a wholly owned subsidiary of R Swain & Sons Limited (Co number 00371501).