FOR THE YEAR ENDED 31 MARCH 2025
SWISCO LIMITED
COMPANY INFORMATION
SWISCO LIMITED
CONTENTS
SWISCO LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their strategic report and the audited financial statements of the Company for the year ended 31 March 2025.
The accounts for this period ended 31st March 2025 represent the fourth full year of the commissioning model with the Council, which has presented more opportunities to deliver additional services for the Council, thereby growing the turnover of the company and allowing increased efficiency of operations. The model enables SWISCo to improve the quality of its customer service, and by ensuring that processes between the client and the operational teams are more joined up, it means SWISCo has made sound progress in pursuing its ultimate strategic objective – to achieve better outcomes for the citizens of Torbay.
However, in tandem with these over-arching responsibilities (which include discharging important statutory duties and responsibilities for the Council) the company strategy is to develop a framework of strong governance and performance accountability. During the financial year 2024/25 the financial and operational effectiveness of the Company has consolidated the stability from the previous year, and as a result it has not been dependent on additional financial support from the Council to support the core operation. The Directors recognise that, going forward, this position needs to be continued.
The business environment in the year 2024/25 has continued to be challenging, and SWISCo’s performance is set against the background of continuing challenges in the labour market, and escalating costs of materials and energy; the effects on staff costs have again been difficult, with a need to place some reliance on overtime working and agency-supplied labour. Pay awards in line with the Council’s Local Government settlement also put pressure on the bottom line.
Taking a longer-term view of the Company’s financial strategy, the Directors will continue to pursue business efficiency and enhanced customer delivery standards, whilst at the same time applying strict financial control over those trading costs the Company can influence. Within this context, the company continued to implement new software solutions to bring greater control and efficiency in operations and we are now looking to implement the next phase of our capital investment programme to replace our ageing fleet of vehicles and plant.
However, in tandem with these over-arching responsibilities (which include discharging important statutory duties and responsibilities for the Council) the company strategy is to develop a framework of strong governance and performance accountability. During the financial year 2024/25 the financial and operational effectiveness of the Company has consolidated the stability from the previous year, and as a result it has not been dependent on additional financial support from the Council to support the core operation. The Directors recognise that, going forward, this position needs to be continued.
The business environment in the year 2024/25 has continued to be challenging, and SWISCo’s performance is set against the background of continuing challenges in the labour market, and escalating costs of materials and energy; the effects on staff costs have again been difficult, with a need to place some reliance on overtime working and agency-supplied labour. Pay awards in line with the Council’s Local Government settlement also put pressure on the bottom line.
Taking a longer-term view of the Company’s financial strategy, the Directors will continue to pursue business efficiency and enhanced customer delivery standards, whilst at the same time applying strict financial control over those trading costs the Company can influence. Within this context, the company continued to implement new software solutions to bring greater control and efficiency in operations and we are now looking to implement the next phase of our capital investment programme to replace our ageing fleet of vehicles and plant.
One element of improving financial performance which continued to provide a challenge, has been developing the various external commercial opportunities that exist. The Company aspires to be seen as the provider of choice for residents and businesses alike, and as such, successful growth of external activities would strengthen the reputation of the Council. However, as dictated by the Shareholder, our primary focus is to continue concentrating on delivering a quality service to the residents of Torbay, and that remains our priority.
The Company generated an operating profit before FRS 102 pension adjustments, which was supported by additional Torbay Council funding. The key business improvement themes therefore continue to be:
The Company generated an operating profit before FRS 102 pension adjustments, which was supported by additional Torbay Council funding. The key business improvement themes therefore continue to be:
∙Improve the financial efficiency of the business to minimise the level of support required from the Council
∙Strive for top-quality customer-focussed services that enhance the reputation of the Council and the Company, and support winning new business and commercial success
∙Continue to develop and strengthen the model of governance and performance accountability to highlight the benefits of, and give confidence in, the Council’s commissioning approach
∙Review sustainability plan and cost control measures
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SWISCO LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
In the 2024/25 financial year, gains through operational efficiencies were partly offset by continued pressures on staffing costs in a very difficult labour market, and by the still rising costs of materials and fuel. As a result, the Company is reporting that, before posting the year-end technical accounting adjustments for the defined benefit pension scheme, the Company recorded an operating surplus of £259,850.
Overall, it is still considered that any alternative commissioning solution (such as part-ownership or fully outsourced) would likely result in a significantly higher financial strain over the next few years of the business.
Overall, it is still considered that any alternative commissioning solution (such as part-ownership or fully outsourced) would likely result in a significantly higher financial strain over the next few years of the business.
This report was approved by the board on 1 December 2025 and signed on its behalf.
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SWISCO LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
The profit for the year, after taxation, amounted to £38,495 (2024: £79,395).
The directors who served during the year were:
SWISCo Limited is proving an exciting opportunity for the Council and its residents. Having stabilised the operation and the financial position of the Company (following the transfer of services from TOR2 Limited in July2020) the aim continues to be improvement and strengthening of the services provided by the Company. Investment is well underway, and the next phase of our Fleet Replacement Strategy will commence in 25/26 to modernise our fleet. This will provide cost savings, efficiencies and increase the companies brand image. A good example will be the arrival of a new JCB Planer which with improve our operations capacity within Highways Maintenance. Potential additional services to be provided by SWISCo are being considered, with the new Neighbourhood Enforcement having started work starting work in early 24/25.
A key focus of the company is the ongoing commitment to increase recycling rates, for example by improved kerbside collection processes and investment in innovative collection vehicles within our Commercial Waste team to generate higher recyclable material payloads. At the request of the Council the Company has introduced a green waste collection service for Torbay residents with a total of 11,469 subscriptions as of March 25 and this is still growing with the introduction of a direct debit payment option now implemented.
We continue to focus working with the community in improving the green spaces throughout Torbay and will also be working with the Crown Prosecution Service’s Community Payback Team throughout 25/26 supporting SWISCo in carrying out various operations making improvements around the bay. Our new MOT bay became operational in October 24 and we carried out 122 tests during the last financial year on both our own vehicles, which provided cost savings, and also staff vehicles, which generated a new stream of commercial income. We expect this number to grow throughout 25/26 and we are looking to supplement our garage workforce with two apprentice mechanics to support this growth.
A key focus of the company is the ongoing commitment to increase recycling rates, for example by improved kerbside collection processes and investment in innovative collection vehicles within our Commercial Waste team to generate higher recyclable material payloads. At the request of the Council the Company has introduced a green waste collection service for Torbay residents with a total of 11,469 subscriptions as of March 25 and this is still growing with the introduction of a direct debit payment option now implemented.
We continue to focus working with the community in improving the green spaces throughout Torbay and will also be working with the Crown Prosecution Service’s Community Payback Team throughout 25/26 supporting SWISCo in carrying out various operations making improvements around the bay. Our new MOT bay became operational in October 24 and we carried out 122 tests during the last financial year on both our own vehicles, which provided cost savings, and also staff vehicles, which generated a new stream of commercial income. We expect this number to grow throughout 25/26 and we are looking to supplement our garage workforce with two apprentice mechanics to support this growth.
The Company places considerable value on engagement with its employees and, within the limits of commercial confidentiality, has continued to keep them fully informed of matters that affect progress of the Company and that may be of interest to them as employees.
The Company is committed to inclusion and works to eliminate discrimination, so that employees can work in a diverse environment free from intimidation, victimisation or harassment.
The Company is committed to inclusion and works to eliminate discrimination, so that employees can work in a diverse environment free from intimidation, victimisation or harassment.
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SWISCO LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
There have been no significant events affecting the Company since the year end.
The auditors, Bishop Fleming Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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SWISCO LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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SWISCO LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SWISCO LIMITED
We have audited the financial statements of SWISCo Limited (the 'Company') for the year ended 31 March 2025, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of cash flows, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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SWISCO LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SWISCO LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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SWISCO LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SWISCO LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
∙the nature of the sector, control environment and the Company’s performance;
∙results of our enquiries of management and the Directors, about their own identification and assessment of the risks of irregularities;
∙any matters we identified having obtained and reviewed the Company’s documentation of their policies and procedures relating to: identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and
∙the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with a particular risk in relation to year-end cut-off. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.
We identified and obtained an understanding of the laws and regulations that are of significance to the Company by discussions with directors and by updating our understanding of the sector in which the Company operated in. Laws and regulations that are of direct significance to the Company, and of which non-compliance could result in material misstatement, are considered to be the UK Companies Act, FRS 102 and UK tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company’s ability to operate or to avoid a material penalty. These included data protection, health and safety, employment legislation and appropriate transport regulations.
Our procedures to respond to risks identified included the following:
∙reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
∙reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue;
∙enquiring of Directors and management concerning actual and potential litigation and claims;
∙performing procedures to confirm material compliance with the requirements of the above regulations;
∙performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
∙reading minutes of Board meetings; and
∙in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; and assessing whether the judgements made in making accounting estimates are indicative of a potential bias.
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SWISCO LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SWISCO LIMITED (CONTINUED)
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' 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 members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
Salt Quay House
4 North East Quay
Sutton Harbour
PL4 0BN
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SWISCO LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
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SWISCO LIMITED
REGISTERED NUMBER:12213029
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 December 2025 .
The notes on pages 14 to 27 form part of these financial statements.
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SWISCO LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
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SWISCO LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
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SWISCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
SWISCo Limited is a private company, limited by shares, incorporated in England, United Kingdom. The address of the registered office is Town Hall, Castle Circus, Torquay, Devon, United Kingdom, TQ1 3DR. The principal activity of the Company is to provide services to the local council.
2.ACCOUNTING POLICIES
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
Following the initial period of trading in 2020/21, SWISCo successfully moved to a sustainable funding model with the Council that enables the Company to achieve a moderate operating surplus. For the 2024/25 year the company recorded a profit after tax of £38,495.
The Council have committed to provide the company with appropriate support to enable them to meet all liabilities as they fall due for a period of at least 12 months from the approval of these financial statements, whilst the Company continues to improve its net asset position under the new funding model. In light of this, the directors consider it appropriate for the financial statements to be prepared on a going concern basis.
The Council have committed to provide the company with appropriate support to enable them to meet all liabilities as they fall due for a period of at least 12 months from the approval of these financial statements, whilst the Company continues to improve its net asset position under the new funding model. In light of this, the directors consider it appropriate for the financial statements to be prepared on a going concern basis.
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SWISCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
The Company operates a defined benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.
The liability recognised in the Statement of financial position in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the reporting date less the fair value of plan assets at the reporting date (if any) out of which the obligations are to be settled.
The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments ('discount rate').
The fair value of plan assets is measured in accordance with the FRS102 fair value hierarchy and in accordance with the Company's policy for similarly held assets. This includes the use of appropriate valuation techniques.
Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income. These amounts together with the return on plan assets, less amounts included in net interest, are disclosed as 'Remeasurement of net defined benefit liability'.
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SWISCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
a) the increase in net pension benefit liability arising from employee service during the period; and
b) the cost of plan introductions, benefit changes, curtailments and settlements.
The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in profit or loss as a 'finance expense'.
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SWISCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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SWISCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.
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 outlined below.
FRS102 Pension valuation
The FRS102 pension valuation for the Local Government Pension Scheme is conducted by an actuary and the assumptions drawn from the actuarial report impact SWISCo Limited's share of the pension liability. The estimation of the pension liability is based on a variety of external economic factors which change from year to year.
The Company has chosen not to recognise a surplus of £2,418,000 (2024 - £1,997,000) in respect of its defiined benefit pension scheme as it does not expect to recover the plan surplus either through reduced contributions in the future of through refunds from the plan for the forseeable future.
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SWISCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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SWISCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 20
SWISCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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SWISCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 22
SWISCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 23
SWISCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Profit and loss account
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SWISCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The Company operates a defined contribution scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £361,147 (2024: £209,259). Contributions totalling £31,092 (2024: £26,584) were payable to the fund at the reporting date.
The Company operates a defined benefit pension scheme.
The assets of the scheme are held seperately from those of the company in an independently administered fund. The contributions payable by the company to the fund amounted to £510,809 (2024: £523,889). Contributions totalling £41,619 (2024: £42,788) were payable to the fund at the balance sheet date and are included in creditors.
The pension cost and provision for the year ended 31 March 2025 are based on the advice of a professionally qualified actuary.
The pension cost and provision for the year ended 31 March 2025 are based on the advice of a professionally qualified actuary.
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SWISCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
20.PENSION COMMITMENTS (CONTINUED)
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SWISCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Torbay Council is the immediate and ultimate parent undertaking the financial statements are available from its Registered Office at Town Hall, Castle Circus, Torquay, Devon, United Kingdom, TQ1 3DR.
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