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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Swingbusy Limited is a private company limited by shares incorporated in England and Wales. The registered office is Units 18-21, Burnham Business Park, Burnham, Essex, CM0 8TE.

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 amounts in these financial statements are rounded to the nearest £.

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

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash flow and related notes and disclosures;

• Section 33 ‘Related Party Disclosures’ – Compensation for key management personnel.

The company has taken advantage of the exemption under section 400 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.

Swingbusy Limited is a wholly owned subsidiary of Nash Corporation Limited and the results of Swingbusy Limited are included in the consolidated financial statements of Nash Corporation Limited which are available from Units 18-21, Burnham Business Park, Burnham, Essex, CM0 8TE.

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for at least twelve months from the signing date of these financial statements.

The directors consider the going concern basis is appropriate based upon the continued support of the parent company and due to its cost saving and cost avoidance measures.

Turnover is recognised at the fair value of the consideration received or receivable for rentals provided in the normal course of business, and is shown net of VAT and other sales related taxes.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from rental income is categorised as turnover. The recognition policy is to account for the receivable income on an annual basis which is coterminous with the financial year end.

Tangible fixed assets 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:

Freehold land and buildings is not depreciated as they are held at valuation which has been deemed equal to their revalued cost.

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.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Investment property, which is property held to earn rentals and/or 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 at the reporting end date with any changes in fair value are recognised in profit or loss.

Interests in subsidiaries, associates and jointly controlled entities 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.

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 (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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 balance sheet 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.

Basic financial assets, which include cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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.

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

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.

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.

Investment properties are held at fair value and are valued in accordance with the valuation performed in January 2025. The directors have considered these valuations as at 30 September 2024 and concluded that these valuations reflect the open market value of these properties at the year end date.

Land and buildings are held at fair value and are valued in accordance with the valuation performed in January 2025. The directors have considered these valuations as at 30 September 2024 and concluded that these valuations reflect the open market value of these properties at the year end date.

The average monthly number of persons (including directors) employed by the company during the year was:

Freehold land and buildings with a carrying amount of £2,600,000 (2023 - £1,800,000) have been pledged to secure borrowings of the company and the group. The company is restricted from pledging these assets as security for other borrowings or to sell them to another entity.

The fair value of the Burnham Business Park has been arrived at on the basis of a valuation carried out in January 2025 by valuers 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. It is the directors' view that this valuation is appropriate for the year ended 30 September 2024.

The revaluation surplus is disclosed in note 11.

Land and buildings are carried at valuation. If land and buildings were measured using the cost model, the carrying amounts would have been approximately £1,151,260 (2023 - £1,178,060), being cost £1,340,000 (2023 - £1,340,000) and depreciation £188,740 (2023 - £161,940).

Investment property comprises Royston Lakes valued at £425,000.

The fair value of Royston Lakes has been arrived at on the basis of a valuation carried out in January 2025 by valuers 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.

It is the directors' view that this valuation is appropriate for the year ended 30 September 2024.

For security on bank loans see note 9.

For security on bank loans see note 9.

The long-term bank loans are secured by fixed charges over the assets held across the group

The amounts of installments due for repayment after five years amount to £525,577. Terms of repayment are monthly installments of £9,374 at a rate of interest of 3% over base rate.

As at 30 September 2024 there were non-distributable reserves comprising investment property revaluations less deferred taxation amounting to £158,480 (2023 - £158,480).

At 30 September 2024 NatWest Bank held cross guarantees from Swingbusy Limited in respect of Kevin Nash Group Limited, Nash Tackle Limited and Catchum 88 Limited. This is in respect of security over group assets for the bank loan and overdrafts.

At 30 September 2024 the total borrowings guaranteed were £2,271,958 (2023: £2,787,023) in addition to amounts disclosed in creditors notes 7 & 8.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

The company has an operating lease agreement for property rental dated to 9 November 2026, with a break clause at 9 November 2024 which was not enacted. The annual commitment is £40,000 per annum which is met by a fellow group company.

Subsequent to the year end the freehold land and buildings at Burnham Business Park was placed for sale on the open market. At the date of signing the financial statements this property was still on sale.

In accordance with FRS102 the company has not disclosed transactions with wholly owned members of the group.

The following amounts were outstanding at the reporting end date:

Interest is not paid on amounts owed to fellow group companies.

The parent company of Swingbusy Limited is Nash Corporation Limited and its registered office is Units 18-21, Burnham Business Park, Burnham, Essex, CM0 8TE.

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 is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.