Acorah Software Products - Accounts Production 16.5.460 false true 31 January 2024 1 February 2023 false 1 February 2024 31 January 2025 31 January 2025 03679915 Mr Liam Swift Miss Susan Lapsley iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03679915 2024-01-31 03679915 2025-01-31 03679915 2024-02-01 2025-01-31 03679915 frs-core:CurrentFinancialInstruments 2025-01-31 03679915 frs-core:Non-currentFinancialInstruments 2025-01-31 03679915 frs-core:BetweenOneFiveYears 2025-01-31 03679915 frs-core:ComputerEquipment 2025-01-31 03679915 frs-core:ComputerEquipment 2024-02-01 2025-01-31 03679915 frs-core:ComputerEquipment 2024-01-31 03679915 frs-core:FurnitureFittings 2025-01-31 03679915 frs-core:FurnitureFittings 2024-02-01 2025-01-31 03679915 frs-core:FurnitureFittings 2024-01-31 03679915 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-01-31 03679915 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 03679915 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-31 03679915 frs-core:MotorVehicles 2025-01-31 03679915 frs-core:MotorVehicles 2024-02-01 2025-01-31 03679915 frs-core:MotorVehicles 2024-01-31 03679915 frs-core:PlantMachinery 2025-01-31 03679915 frs-core:PlantMachinery 2024-02-01 2025-01-31 03679915 frs-core:PlantMachinery 2024-01-31 03679915 frs-core:WithinOneYear 2025-01-31 03679915 frs-core:ShareCapital 2025-01-31 03679915 frs-core:RetainedEarningsAccumulatedLosses 2025-01-31 03679915 frs-bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 03679915 frs-bus:FilletedAccounts 2024-02-01 2025-01-31 03679915 frs-bus:SmallEntities 2024-02-01 2025-01-31 03679915 frs-bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 03679915 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 03679915 frs-bus:Director1 2024-02-01 2025-01-31 03679915 frs-bus:CompanySecretary1 2024-02-01 2025-01-31 03679915 frs-core:CurrentFinancialInstruments 1 2025-01-31 03679915 frs-countries:Scotland 2024-02-01 2025-01-31 03679915 2023-01-31 03679915 2024-01-31 03679915 2023-02-01 2024-01-31 03679915 frs-core:CurrentFinancialInstruments 2024-01-31 03679915 frs-core:Non-currentFinancialInstruments 2024-01-31 03679915 frs-core:BetweenOneFiveYears 2024-01-31 03679915 frs-core:WithinOneYear 2024-01-31 03679915 frs-core:ShareCapital 2024-01-31 03679915 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 03679915 frs-core:CurrentFinancialInstruments 1 2024-01-31
Registered number: 03679915
Swift Home Improvements Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 03679915
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 305,914 320,765
305,914 320,765
CURRENT ASSETS
Stocks 5 42,700 44,511
Debtors 6 494,942 294,916
Cash at bank and in hand 86,132 198,718
623,774 538,145
Creditors: Amounts Falling Due Within One Year 7 (507,903 ) (341,724 )
NET CURRENT ASSETS (LIABILITIES) 115,871 196,421
TOTAL ASSETS LESS CURRENT LIABILITIES 421,785 517,186
Creditors: Amounts Falling Due After More Than One Year 8 (22,261 ) (49,311 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (21,011 ) (23,735 )
NET ASSETS 378,513 444,140
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 378,413 444,040
SHAREHOLDERS' FUNDS 378,513 444,140
Page 1
Page 2
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Liam Swift
Director
29/10/2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Swift Home Improvements Ltd is a private company, limited by shares, incorporated in Scotland, registered number 03679915 . The registered office is 215 London Road, Greenhithe, Kent, DA9 9DQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold NIL
Plant & Machinery 15% WDV
Motor Vehicles 15% WDV
Fixtures & Fittings 15% WDV
Computer Equipment 15% WDV
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
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.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2024: 16)
15 16
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 February 2024 221,869 122,875 12,445 20,474
As at 31 January 2025 221,869 122,875 12,445 20,474
Depreciation
As at 1 February 2024 - 39,571 12,279 16,473
Provided during the period - 12,495 42 601
As at 31 January 2025 - 52,066 12,321 17,074
Net Book Value
As at 31 January 2025 221,869 70,809 124 3,400
As at 1 February 2024 221,869 83,304 166 4,001
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Computer Equipment Total
£ £
Cost
As at 1 February 2024 31,008 408,671
As at 31 January 2025 31,008 408,671
Depreciation
As at 1 February 2024 19,583 87,906
Provided during the period 1,713 14,851
As at 31 January 2025 21,296 102,757
Net Book Value
As at 31 January 2025 9,712 305,914
As at 1 February 2024 11,425 320,765
5. Stocks
2025 2024
£ £
Stock 13,200 25,000
Work in progress 29,500 19,511
42,700 44,511
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 333,358 280,084
Prepayments and accrued income 14,417 14,832
Intercompany Loan 147,167 -
494,942 294,916
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 22,505 22,505
Trade creditors 375,822 238,610
Bank loans and overdrafts 10,000 10,000
Corporation tax 1,802 26,256
Other taxes and social security 14,290 7,815
VAT 56,817 19,238
Other creditors 16,006 16,685
Inter-company account 9,107 225
Accruals and deferred income 1,250 -
Director's loan account 304 390
507,903 341,724
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 17,279 34,329
Bank loans 4,982 14,982
22,261 49,311
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 22,505 22,505
Later than one year and not later than five years 17,279 34,329
39,784 56,834
39,784 56,834
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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11. Related Party Transactions
Included in the Other Debtors is an amount owed from Swift Holdings and Investments Ltd totalling £147,167 (2024 - £225 Creditor), for which Mr L Swift is a director. No interest is to be charged and no repayment terms have been agreed.
Included in the Other Creditors is an amount owed to the company directors totalling £304 (2024 - £390), no interest is to be charged.
Included in the Other Creditors is an amount owed to Heritage Aluminium Direct Ltd totalling £9,107 (2024 - £0), for which Mr L Swift is a director. No interest is to be charged and no repayment terms have been agreed.
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