REGISTERED NUMBER: 01763975 (England and Wales)

Swindell Painting Limited

Unaudited Financial Statements

for the Year Ended

31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs P J Swindell

Mrs S J Robinson

M A Swindell

SECRETARY:

Mrs P J Swindell

REGISTERED OFFICE:

Unit 9B,

Thorpe Close,

Banbury,

Oxfordshire

OX16 8SW

REGISTERED NUMBER:

01763975 (England and Wales)

ACCOUNTANTS:

Moffat Gilbert

Unit 12

Shottery Brook Office Park

Timothy's Bridge Road

Stratford upon Avon

Warwickshire

CV37 9NR

FIXED ASSETS

Tangible assets

4

35

59

CURRENT ASSETS

Stocks

39,741

22,285

Debtors

5

166,062

206,389

Cash at bank and in hand

66,831

73,368

272,634

302,042

CREDITORS

Amounts falling due within one year

6

228,400

243,588

NET CURRENT ASSETS

44,234

58,454

TOTAL ASSETS LESS CURRENT LIABILITIES

44,269

58,513

PROVISIONS FOR LIABILITIES

-

15

NET ASSETS

44,269

58,498

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

44,169

58,398

SHAREHOLDERS' FUNDS

44,269

58,498

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 10 September 2025 and were signed on its behalf by:

M A Swindell - Director

1.	STATUTORY INFORMATION

Swindell Painting 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.

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.

Computer equipment

-

at variable rates on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 14 (2023 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

and 31 December 2024

963

DEPRECIATION

At 1 January 2024

904

Charge for year

24

At 31 December 2024

928

NET BOOK VALUE

At 31 December 2024

35

At 31 December 2023

59

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

151,572

197,012

Other debtors

14,490

9,377

166,062

206,389

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

44,229

85,350

Amounts owed to group undertakings

86,897

71,897

Taxation and social security

54,849

37,257

Other creditors

42,425

49,084

228,400

243,588

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

3,000

18,000

Between one and five years

-

3,000

3,000

21,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

£1

100

100

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year Mr and Mrs Swindell operated a partnership business which hired assets to the company at a commercial rate in the amount of £3,450 (2023 £6,600).

10.	RELATED PARTY DISCLOSURES

Transactions with Mr and Mrs Swindell are disclosed in note 13. The holding company, Francis Trading Holdings Limited provided management services to Swindell Painting Limited during the year in the amount of £73,800 (2023 £126,000). The net balance owed to the holding company as at 31st December 2024 amounted to £86,897 (2023 £71,897).

The Swindell Painting Limited Pension Fund rented a unit to the company during the year. The rent charged was £18,000 (2023 £18,000) and the balance owed by the company to the Pension Fund as at 31st December 2024 was £nil (2023 £nil).

11.	ULTIMATE CONTROLLING PARTY

Mr M A and Mrs P J Swindell are the joint ultimate controlling parties of the company.

12.	RESERVATION OF TITLE

Trading stocks of an unascertained value are subject to reservation of title clauses under suppliers' standard conditions of sale. The directors are of the opinion that quantification of the estimated value involved would not necessarily reflect the full lien over the stocks and accordingly would be misleading.

13.	ULTIMATE PARENT UNDERTAKING

The company is a wholly owned subsidiary of Francis Trading Holdings Limited. The registered office of the parent undertaking is Unit 9B, Thorpe Close, Banbury, Oxfordshire, OX16 8SW.