ACCOUNTS - Final Accounts

Company registration number: 08961179

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	SWAN ISLAND DEVELOPMENTS LIMITED


SWAN ISLAND DEVELOPMENTS LIMITED

COMPANY INFORMATION

Directors	Mrs C D Hobbs
	Mr J P Hobbs


Registered number	08961179


Registered office	2nd Floor, Midas House
	62 Goldsworth Road
	Woking
	Surrey
	GU21 6LQ


Accountants	Menzies LLP
	Chartered Accountants
	2nd Floor, Midas House
	62 Goldsworth Road
	Woking
	Surrey
	GU21 6LQ


SWAN ISLAND DEVELOPMENTS LIMITED

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 5


SWAN ISLAND DEVELOPMENTS LIMITED REGISTERED NUMBER:08961179

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		267		356
			267		356
Current assets
Stocks		560,004		552,252
Debtors: amounts falling due within one year	5	61,716		1,112
Cash at bank and in hand		2,420		920
		624,140		554,284
Creditors: amounts falling due within one year	6	(741,549)		(667,085)
Net current liabilities			(117,409)		(112,801)
Total assets less current liabilities			(117,142)		(112,445)

Net liabilities			(117,142)		(112,445)

Capital and reserves
Called up share capital	1	1
Profit and loss account	(117,143)	(112,446)
	(117,142)	(112,445)

Page 1


SWAN ISLAND DEVELOPMENTS LIMITED REGISTERED NUMBER:08961179

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

For the year ended 31 March 2025 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

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 income and retained earnings 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 by:

................................................

Mr J P Hobbs

Director

Date: 23 December 2025

The notes on pages 3 to 5 form part of these financial statements.

Page 2


SWAN ISLAND DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Swan Island Development Limited 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 its registered office is disclosed on the company information page. The company does not have a principal place of business.
The Company's functional and presentational currency is GBP.

2.Accounting policies

2.1

Basis of preparation of financial statements

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.

2.2

Going concern

The company is supported by loans from connected companies under the director's control totalling £734,049 (2024 - £659,685). The connected companies have agreed not to seek repayment until the company has sufficient funds upon realising the sale of property held in stock once it is developed. For this reason the director continues to adopt the going concern basis of accounting in preparing the annual financial statements.

2.3

Tangible fixed asset

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery

25% reducing balance

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.

2.4

Stocks

Stocks relates to work in progress held by the company and is stated at the lower of cost and net realisable value. Cost is based on the original cost of the land and buildings and any subsequent directly attributable overheads at the date of transaction.

At each reporting date, the work in progress is assessed for impairment. If the work in progress is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 3


SWAN ISLAND DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 April 2024	6,340
	At 31 March 2025	6,340
	Depreciation
	At 1 April 2024	5,984
	Charge for the year on owned assets	89
	At 31 March 2025	6,073
	Net book value
	At 31 March 2025	267
	At 31 March 2024	356

Debtors

					2025	2024
					£	£


Other debtors	61,716	1,112
	61,716	1,112

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

Other creditors	739,049	664,685
Accruals and deferred income	2,500	2,400
	741,549	667,085

Page 4


SWAN ISLAND DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7.	Transactions with directors

		Balance as at 1 April 2024	Advances	Repaid	Balance as at 31 March 2025
		£	£	£	£

	Director loan	(61,636)	123,352	-	61,716
		(61,636)	123,352	-	61,716

No interest has been applied to this balance.

Page 5