ACCOUNTS - Final Accounts preparation

Registered number: 04074115

SWC PROPERTIES LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

SWC PROPERTIES LTD

REGISTERED NUMBER: 04074115

BALANCE SHEET

AS AT 31 JULY 2025

		2025		2024
Note		£		£

Fixed assets
Investments	4		3,651		6,299
Investment property	5		3,535,061		3,535,061
			3,538,712		3,541,360
Current assets
Debtors	6	33,855		5,111
Cash at bank and in hand		224,869		118,171
		258,724		123,282
Creditors: amounts falling due within one year	7	(1,405,556)		(1,394,700)
Net current liabilities			(1,146,832)		(1,271,418)
Total assets less current liabilities			2,391,880		2,269,942

Net assets			2,391,880		2,269,942

Capital and reserves
Called up share capital	8	100	100
Revaluation reserve	9	-	395,897
Profit and loss account	9	2,391,780	1,873,945
		2,391,880	2,269,942

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SWC PROPERTIES LTD

REGISTERED NUMBER: 04074115

BALANCE SHEET (CONTINUED)

AS AT 31 JULY 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 November 2025.

I A Hunter	I L Hunter
Director	Director

The notes on pages 4 to 7 form part of these financial statements.

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		SWC PROPERTIES LTD

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JULY 2025

	Called up share capital	Revaluation reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 August 2023	100	395,897	1,769,187	2,165,184

Profit for the year	-	-	140,728	140,728
Dividends: Equity capital	-	-	(35,970)	(35,970)

At 1 August 2024	100	395,897	1,873,945	2,269,942

Profit for the year	-	-	144,298	144,298
Dividends: Equity capital	-	-	(22,360)	(22,360)
Transfer to profit and loss account	-	(395,897)	395,897	-
At 31 July 2025	100	-	2,391,780	2,391,880

The notes on pages 4 to 7 form part of these financial statements.

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SWC PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

1.	Accounting policies

SWC Properties Ltd is a private company limited by shares incorporated in England and Wales (registered no. 04074115). The registered office is 60-70 Broad Lane, Sheffield, South Yorkshire, S1 4BT. The principal activity of the company during the year continued to be that of property investment and management.

2.Accounting policies

2.1

Accounting convention

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the rental of property and is recognised as the rental period passes.

2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.4

Investment property

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. Changes in fair value are recognised in profit or loss.

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SWC PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.Accounting policies (continued)

2.5

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.6

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 0 (2024 - 0).

4.	Fixed asset investments

		Listed investments
		£
	Cost or valuation
	At 1 August 2024	6,299
	Revaluations	(2,648)
	At 31 July 2025	3,651

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SWC PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

5.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 August 2024	3,535,061
	At 31 July 2025	3,535,061

The investment properties were valued on 31st July 2025 by the company directors. The basis of this valuation was existing use basis. This class of assets has a current value of £3,535,061 (2024: £3,535,061 and a carry amount at historical cost of £3,139,164 (2024: £3,139,164).

Debtors

					2025	2024
					£	£



Amounts owed by related company	28,125	-
Other debtors	125	125
Prepayments and accrued income	5,605	4,986
	33,855	5,111

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Corporation tax	48,844	47,149
Other taxation and social security	938	938
Amounts owed to related company	1,346,112	1,342,363
Accruals and deferred income	9,662	4,250
	1,405,556	1,394,700

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SWC PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

8.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

27 (2024 - 27) Ordinary shares of £1.00 each	27	27
21 (2024 - 21) Ordinary A shares of £1.00 each	21	21
26 (2024 - 26) Ordinary B shares of £1.00 each	26	26
26 (2024 - 26) Ordinary C shares of £1.00 each	26	26

	100	100

Reserves

Both previous UK GAAP and FRS 102 require investment properties to be stated in the accounts at their current market value, with no annual depreciation charge. However, while previous UK GAAP stipulated that the surplus on revaluation of the property should be held in a revaluation reserve, which, being an unrealised surplus, did not form part of the company's distributable reserves, FRS 102 requires that these surpluses, although still not distributable, be charged through the Profit and Loss Account. Moreover, there is now a requirement that deferred tax should be provided against the amount of the revaluation surplus.
Consequently, the Profit and Loss Account reserve at 31 July 2025 includes a non-distributable amount of £395,897.

10.	Controlling party

The directors are considered to be the ultimate controlling party by virtue of their controlling shareholding in the company.

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