Company No: 03411799 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	2,814,145		2,243,606
		2,814,145		2,243,606
Current assets
Debtors
- due within one year	4	787,311		496,720
- due after more than one year	4	74,549		74,549
Cash at bank and in hand		326,239		457,043
		1,188,099		1,028,312
Creditors: amounts falling due within one year	5	( 448,436)		( 5,255)
Net current assets		739,663		1,023,057
Total assets less current liabilities		3,553,808		3,266,663
Net assets		3,553,808		3,266,663
Capital and reserves
Called-up share capital	6	1,650,000		1,650,000
Profit and loss account		1,903,808		1,616,663
Total shareholder's funds		3,553,808		3,266,663

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Sweepmain Limited (registered number: 03411799) were approved and authorised for issue by the Director on 23 December 2025. They were signed on its behalf by:

Marcus Newton Tucker Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sweepmain Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is East Densham Farm, Black Dog, Crediton, EX17 4RN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery	4 years straight line
Computer equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Tangible assets

	Land and buildings		Plant and machinery		Computer equipment		Total
	£		£		£		£
Cost
At 01 January 2024	2,116,295		243,307		0		2,359,602
Additions	620,953		0		1,158		622,111
At 31 December 2024	2,737,248		243,307		1,158		2,981,713
Accumulated depreciation
At 01 January 2024	0		115,996		0		115,996
Charge for the financial year	0		51,331		241		51,572
At 31 December 2024	0		167,327		241		167,568
Net book value
At 31 December 2024	2,737,248		75,980		917		2,814,145
At 31 December 2023	2,116,295		127,311		0		2,243,606

4. Debtors

	2024		2023
	£		£
Debtors: amounts falling due within one year
Trade debtors	764,662		371,345
Amounts owed by director	0		97,829
Prepayments	22,649		21,494
VAT recoverable	0		6,052
	787,311		496,720
Debtors: amounts falling due after more than one year
Other debtors	74,549		74,549

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Amounts owed to director	375,330		0
Accruals	3,500		3,500
Taxation and social security	69,606		0
Other creditors	0		1,755
	448,436		5,255

6. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
1,650,000 Ordinary shares of £ 1.00 each	1,650,000		1,650,000

7. Related party transactions

Transactions with the entity's director

	2024		2023
	£		£
Owed by/(to) the director	(375,330)		97,829

No interest is charged on the loan and the amount is repayable in full on demand.