REGISTERED NUMBER: 07644805 (England and Wales)

Swan Properties Cornwall Limited

Unaudited Financial Statements

for the Year Ended 31st May 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

D J Lord

Mrs P C Lord

REGISTERED OFFICE:

48 Arwenack Street

Falmouth

Cornwall

TR11 3JH

REGISTERED NUMBER:

07644805 (England and Wales)

ACCOUNTANTS:

Hodgsons

Chartered Accountants

48 Arwenack Street

Falmouth

Cornwall

TR11 3JH

FIXED ASSETS

Tangible assets

4

1,465

979

Investment property

5

3,151,115

3,140,000

3,152,580

3,140,979

CURRENT ASSETS

Debtors

6

125,365

111,146

Cash at bank

137,131

90,681

262,496

201,827

CREDITORS

Amounts falling due within one year

7

(2,616,168

)

(2,593,557

)

NET CURRENT LIABILITIES

(2,353,672

)

(2,391,730

)

TOTAL ASSETS LESS CURRENT LIABILITIES

798,908

749,249

PROVISIONS FOR LIABILITIES

(302

)

(206

)

NET ASSETS

798,606

749,043

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

797,606

748,043

798,606

749,043

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th September 2025 and were signed on its behalf by:

D J Lord - Director

Mrs P C Lord - Director

1.	STATUTORY INFORMATION

Swan Properties Cornwall 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.

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.

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

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st June 2024

4,859

Additions

892

Disposals

(2,100

)

At 31st May 2025

3,651

DEPRECIATION

At 1st June 2024

3,880

Charge for year

406

Eliminated on disposal

(2,100

)

At 31st May 2025

2,186

NET BOOK VALUE

At 31st May 2025

1,465

At 31st May 2024

979

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st June 2024

3,140,000

Additions

11,115

At 31st May 2025

3,151,115

NET BOOK VALUE

At 31st May 2025

3,151,115

At 31st May 2024

3,140,000

Fair value at 31st May 2025 is represented by:

£

Valuation in 2021

(474,718

)

Valuation in 2022

324,345

Valuation in 2024

(174,416

)

Cost

3,475,904

3,151,115

If investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

3,475,904

3,464,789

Investment property was valued on an open market basis on 31st May 2025 by the directors .

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

18,451

10,746

Other debtors

46,914

30,800

65,365

41,546

Amounts falling due after more than one year:

Other debtors

60,000

69,600

Aggregate amounts

125,365

111,146

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

312

-

Taxation and social security

20,501

22,573

Other creditors

2,595,355

2,570,984

2,616,168

2,593,557

Included within other creditors is the directors' loan account balance of £2,545,527 (2024: £2,544,535) There is no interest accruing on this balance and will be repaid when cash flow allows.