Swim Way Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05361606 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

SWIM WAY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D Pastor De Mattos

SECRETARY:

Mr D Pastor De Mattos

REGISTERED OFFICE:

34 Lower Richmond Road

Putney

London

SW15 1JP

REGISTERED NUMBER:

05361606 (England and Wales)

ACCOUNTANTS:

TaxAgility Limited

34 Lower Richmond Road

Putney

London

SW15 1JP

FIXED ASSETS

Intangible assets

4

9,337

-

Property, plant and equipment

5

3,075,516

2,666,548

3,084,853

2,666,548

CURRENT ASSETS

Debtors

6

76,247

104,728

Cash at bank

325,133

300,117

401,380

404,845

CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

(1,317,327

)

(1,245,557

)

NET CURRENT LIABILITIES

(915,947

)

(840,712

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,168,906

1,825,836

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

8

(1,341,045

)

(1,298,736

)

PROVISIONS FOR LIABILITIES

(375,261

)

(242,290

)

NET ASSETS

452,600

284,810

CAPITAL AND RESERVES

Called up share capital

100

Fair value reserve

9

357,876

-

Retained earnings

9

94,624

284,710

SHAREHOLDERS' FUNDS

452,600

284,810

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 22 September 2025 and were signed by:

Mr D Pastor De Mattos - Director

1.	STATUTORY INFORMATION

Swim Way 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 as modified by the revaluation of certain assets.

Turnover

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

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.

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

Tangible fixed assets

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

Freehold property

-

in accordance with the property

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

33% on reducing balance

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 9 (2024 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

10,000

At 28 February 2025

10,000

AMORTISATION

Charge for year

663

At 28 February 2025

663

NET BOOK VALUE

At 28 February 2025

9,337

5.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Freehold

to

Plant and

property

machinery

£

COST OR VALUATION

At 1 March 2024

1,322,832

1,450,279

212,744

Additions

-

121,750

-

Disposals

-

(33,532

)

Revaluations

477,168

-

At 28 February 2025

1,800,000

1,572,029

179,212

DEPRECIATION

At 1 March 2024

-

310,909

80,309

Charge for year

-

147,178

24,726

Eliminated on disposal

-

(10,760

)

At 28 February 2025

-

458,087

94,275

NET BOOK VALUE

At 28 February 2025

1,800,000

1,113,942

84,937

At 29 February 2024

1,322,832

1,139,370

132,435

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

COST OR VALUATION

At 1 March 2024

71,004

47,831

4,257

3,108,947

Additions

9,152

21,271

1,200

153,373

Disposals

-

(7,087

)

-

(40,619

)

Revaluations

-

477,168

At 28 February 2025

80,156

62,015

5,457

3,698,869

DEPRECIATION

At 1 March 2024

39,463

8,256

3,462

442,399

Charge for year

7,878

12,050

1,105

192,937

Eliminated on disposal

-

(1,223

)

-

(11,983

)

At 28 February 2025

47,341

19,083

4,567

623,353

NET BOOK VALUE

At 28 February 2025

32,815

42,932

890

3,075,516

At 29 February 2024

31,541

39,575

795

2,666,548

Cost or valuation at 28 February 2025 is represented by:

Improvements

Freehold

to

Plant and

property

machinery

£

Valuation in 2025

477,168

-

Cost

1,322,832

1,572,029

179,212

1,800,000

1,572,029

179,212

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

Valuation in 2025

-

477,168

Cost

80,156

62,015

5,457

3,221,701

80,156

62,015

5,457

3,698,869

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

Other debtors

76,247

104,728

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

Bank loans and overdrafts

221,564

113,982

Trade creditors

64,188

287,579

Taxation and social security

139,402

94,823

Other creditors

892,173

749,173

1,317,327

1,245,557

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

28.2.25

29.2.24

£

Bank loans

1,341,045

1,298,736

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Business loan - Barclays

1,105,688

890,812

9.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

At 1 March 2024

284,710

-

284,710

Profit for the year

387,040

Dividends

(219,250

)

(219,250

)

Movement

-

357,876

Transferred

(357,876

)

-

(357,876

)

At 28 February 2025

94,624

357,876

452,500

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2025 and 29 February 2024:

28.2.25

29.2.24

£

Mr D Pastor De Mattos

Balance outstanding at start of year

(10,520

)

(11,167

)

Amounts advanced

9,494

647

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(1,026

)

(10,520

)

It is confirmed that the director's current account is debited with personal transactions and credited with director's remuneration as well as dividends.

The loan is unsecured, interest free and no repayment terms have been agreed.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr D Pastor De Mattos.