Company registration number 03894450 (England and Wales)
SWYNSON LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SWYNSON LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 7
SWYNSON LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
4
11,293,599
11,347,753
Investment property
6
3,672,000
3,672,000
Investments
5
550,002
550,002
15,515,601
15,569,755
Current assets
Trade and other receivables
7
15,485
25,132
Cash and cash equivalents
331,785
214,246
347,270
239,378
Current liabilities
8
(11,359)
(83,538)
Net current assets
335,911
155,840
Net assets
15,851,512
15,725,595
Equity
Called up share capital
9
1,364
1,364
Share premium account
10,964,884
10,964,884
Revaluation reserve
1,762,294
1,776,314
Retained earnings
10
3,122,970
2,983,033
Total equity
15,851,512
15,725,595

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 17 September 2025 and are signed on its behalf by:
Mrs D S Jenkins
Director
Company registration number 03894450 (England and Wales)
SWYNSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Swynson Limited is a private company limited by shares incorporated in England and Wales. The registered office is East Sussex National, Uckfield, East Sussex, TN22 5ES.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 398 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

The financial statements have been prepared on a going concern basis. The directors have considered relevant information, including the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment. true

Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty in relation to the appropriateness of continuing to adopt the going concern basis in preparing the annual report and accounts.

1.3
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings
2% per annum on a straight line basis (buildings element only, land is not depreciated)
Improvements to property
5% per annum on a straight line basis
Plant and equipment
25% per annum on a straight line basis
Fixtures and fittings
25% per annum on a straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

SWYNSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Non-current investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss. Recoverable amount is the higher of fair value less costs to sell and value in use.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include s deposits held at call with banks,.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity. Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year.

SWYNSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

1.11
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease in the period to which it relates.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Freehold property

T he residual value of the freehold properties, held within property, plant and equipment, for the current period is £4,954,0 32. The properties are being depreciated down to this figure, in line with the accounting policy.

Investment property

The directors believe that the fair value of the investment property in the financial statements is £3,672,000. With a profess ional valuation being performed in 2024, they believe that the fair value represents an accurate reflection of property values in the local area.

3
Employees

The were no employees in the company in the current or comparative period.

SWYNSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
4
Property, plant and equipment
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost or valuation
At 1 January 2024
11,539,517
24,783
11,564,300
Additions
1,495
-
0
1,495
At 31 December 2024
11,541,012
24,783
11,565,795
Depreciation and impairment
At 1 January 2024
199,320
17,227
216,547
Depreciation charged in the year
53,678
1,971
55,649
At 31 December 2024
252,998
19,198
272,196
Carrying amount
At 31 December 2024
11,288,014
5,585
11,293,599
At 31 December 2023
11,340,197
7,556
11,347,753

Freehold properties, included within land and buildings, were valued on an open market basis on 4 August 2017 by Barrington, Corp & Harrington and the directors used this valuation as the basis for the deemed cost on transition to FRS 102.

If freehold properties, included within land and buildings, were measured using the cost model, the carrying amounts would have been as follows:

Freehold property
2024
2023
£
£
Cost
10,036,554
10,036,554
Accumulated depreciation
(1,668,046)
(1,621,674)
Carrying value
8,368,508
8,414,880
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
550,002
550,002
SWYNSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Fixed asset investments
(Continued)
- 6 -
Movements in non-current investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2024 & 31 December 2024
550,002
Carrying amount
At 31 December 2024
550,002
At 31 December 2023
550,002
6
Investment property
2024
£
Fair value
At 1 January 2024 and 31 December 2024
3,672,000

The fair value of the investment property has been arrived at by the directors on the basis of a professional valuation carried out on 23 January 2024 by Foster & Co, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties in the local area since this date.

7
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
7,789
19,267
Amounts owed by group undertakings
6,563
4,555
Other receivables
1,133
1,310
15,485
25,132
8
Current liabilities
2024
2023
£
£
Trade payables
6,584
6,584
Amounts owed to group undertakings
-
0
72,179
Other payables
4,775
4,775
11,359
83,538
SWYNSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,364
1,364
1,364
1,364
10
Retained earnings

Included within retained earnings non-distributable reserves relating to fair value adjustments to the carrying value of investment property of £3,054,390 (20 23 - £3,054,390).

11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Alex Chidwick FCCA
Statutory Auditor:
Sumer Audit
Date of audit report:
18 September 2025
Sumer Audit is the trading name of Sumer Auditco Limited
12
Financial commitments, guarantees and contingent liabilities

During the year the company entered into an intercompany guarantee with East Sussex National Limited in relation to a hire purchase agreement, whereby if one company defaults the liability will be picked up by the other.

The potential liability if the other company defaulted would amount to £94,288 (2023 - £Nil) as at 31 December 2024.

13
Parent company

The immediate and ultimate parent company is Horsted Estates Limited.

Horsted Estates Limited prepares consolidated financial statements and copies can be obtained from Companies House. The registered office of Horsted Estates Limited is East Sussex National, Little Horsted, Uckfield, East Sussex, TN22 5ES.

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