Swift Fasteners Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01616423 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

FOR

SWIFT FASTENERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr N V Gould

REGISTERED OFFICE:

20 Oldends Lane Industrial Estate

Stonehouse

Gloucestershire

GL10 3RQ

REGISTERED NUMBER:

01616423 (England and Wales)

ACCOUNTANTS:

Shiner Mitchell Fisher & Co Ltd

Smith House

George Street

Nailsworth

Stroud

Gloucestershire

GL6 0AG

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

13,156

19,910

13,156

19,910

CURRENT ASSETS

Stocks

44,380

36,880

Debtors

6

101,136

162,939

Cash at bank and in hand

20,094

8,765

165,610

208,584

CREDITORS

Amounts falling due within one year

7

69,090

79,873

NET CURRENT ASSETS

96,520

128,711

TOTAL ASSETS LESS CURRENT

LIABILITIES

109,676

148,621

CREDITORS

Amounts falling due after more than one

year

8

-

(6,419

)

PROVISIONS FOR LIABILITIES

(3,300

)

(5,000

)

NET ASSETS

106,376

137,202

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

106,276

137,102

106,376

137,202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 January 2026 and were signed by:

Mr N V Gould - Director

1.	STATUTORY INFORMATION

Swift Fasteners Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33.33% on cost, 25% on cost and 12% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 February 2024

and 31 January 2025

49,303

AMORTISATION

At 1 February 2024

and 31 January 2025

49,303

NET BOOK VALUE

At 31 January 2025

-

At 31 January 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2024

and 31 January 2025

150,176

DEPRECIATION

At 1 February 2024

130,266

Charge for year

6,754

At 31 January 2025

137,020

NET BOOK VALUE

At 31 January 2025

13,156

At 31 January 2024

19,910

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 February 2024

and 31 January 2025

25,675

DEPRECIATION

At 1 February 2024

8,559

Charge for year

6,419

At 31 January 2025

14,978

NET BOOK VALUE

At 31 January 2025

10,697

At 31 January 2024

17,116

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

Trade debtors

86,187

140,630

Other debtors

14,949

22,309

101,136

162,939

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

Hire purchase contracts (see note 9)

6,419

8,558

Trade creditors

14,727

21,402

Taxation and social security

40,189

46,437

Other creditors

7,755

3,476

69,090

79,873

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR

31.1.25

31.1.24

£

Hire purchase contracts (see note 9)

-

6,419

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.1.25

31.1.24

£

Net obligations repayable:

Within one year

6,419

8,558

Between one and five years

-

6,419

14,977

Non-cancellable

operating leases

31.1.25

31.1.24

£

Within one year

-

26,460

Between one and five years

56,700

-

56,700

26,460

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.25

31.1.24

£

Hire purchase contracts

6,419

14,977

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr N V Gould.