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Registered number: 15040681
Swains Logistics & Distribution Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2025
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Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Statement of Changes in Equity 4
Notes to the Financial Statements 5—7
Page 1
Accountant's Report
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 July 2025 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
24/10/2025
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203 West Street
Fareham
Hampshire
PO16 0EN
Page 1
Page 2
Balance Sheet
Registered number: 15040681
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 44,187 13,234
44,187 13,234
CURRENT ASSETS
Debtors 5 54,255 4,009
Cash at bank and in hand 1,892 3,385
56,147 7,394
Creditors: Amounts Falling Due Within One Year 6 (61,318 ) (15,166 )
NET CURRENT ASSETS (LIABILITIES) (5,171 ) (7,772 )
TOTAL ASSETS LESS CURRENT LIABILITIES 39,016 5,462
Creditors: Amounts Falling Due After More Than One Year 7 (27,611 ) (4,989 )
NET ASSETS 11,405 473
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 11,404 472
SHAREHOLDERS' FUNDS 11,405 473
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For the year ending 31 July 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 Daniel Swain
Director
24/10/2025
The notes on pages 5 to 7 form part of these financial statements.
Page 3
Page 4
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 31 July 2023 1 - 1
Profit for the year and total comprehensive income - 7,264 7,264
Dividends paid - (6,792) (6,792)
As at 31 July 2024 and 1 August 2024 1 472 473
Profit for the year and total comprehensive income - 33,548 33,548
Dividends paid - (33,232) (33,232)
Transfer to/from Other Reserves - 10,616 10,616
As at 31 July 2025 1 11,404 11,405
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Page 5
Notes to the Financial Statements
1. General Information
Swains Logistics & Distribution Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 15040681 . The registered office is Office 32, Caxton Point Business Centre, Caxton Way, Stevenage, SG1 2XU.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 August 2024 17,645 - 17,645
Additions 36,180 300 36,480
As at 31 July 2025 53,825 300 54,125
...CONTINUED
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Depreciation
As at 1 August 2024 4,411 - 4,411
Provided during the period 5,519 8 5,527
As at 31 July 2025 9,930 8 9,938
Net Book Value
As at 31 July 2025 43,895 292 44,187
As at 1 August 2024 13,234 - 13,234
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 53,114 1,489
Prepayments and accrued income 1,141 550
Director's loan account - 1,970
54,255 4,009
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 4,789 2,395
Trade creditors 4,693 -
Bank loans and overdrafts 33,295 7,200
VAT 16,493 3,216
Other creditors 1,354 1,332
Accruals and deferred income 694 1,023
61,318 15,166
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 27,611 4,989
8. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,789 2,395
Later than one year and not later than five years 27,611 4,989
32,400 7,384
32,400 7,384
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
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10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2024 Amounts advanced Amounts repaid Amounts written off As at 31 July 2025
£ £ £ £ £
Mr Daniel Swain 1,970 (18,843 ) (16,873 ) - -
The above loan is unsecured, interest free and repayable on demand.
11.
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