STEVE SWAIN LIMITED
Company registration number 04661616 (England and Wales)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
STEVE SWAIN LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
STEVE SWAIN LIMITED
BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
369,888
362,046
Current assets
Debtors
5
131,065
210,106
Cash at bank and in hand
48,813
46,282
179,878
256,388
Creditors: amounts falling due within one year
6
(221,772)
(250,775)
Net current (liabilities)/assets
(41,894)
5,613
Total assets less current liabilities
327,994
367,659
Creditors: amounts falling due after more than one year
7
(145,413)
(187,742)
Provisions for liabilities
(86,325)
(85,818)
Net assets
96,256
94,099
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
96,156
93,999
Total equity
96,256
94,099
STEVE SWAIN LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2025
31 May 2025
- 2 -

For the financial year ended 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 4 February 2026
Mr S R Swain
Director
Company registration number 04661616 (England and Wales)
STEVE SWAIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 3 -
1
Accounting policies
Company information

Steve Swain Limited is a private company limited by shares incorporated in England and Wales. The registered office is Dyke Yaxley, 1 Brassey Road, Old Potts Way, Shrewsbury, Shropshire, SY3 7FA.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life,

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% straight line
Plant and machinery
15% reducing balance
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

STEVE SWAIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
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 current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

STEVE SWAIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 5 -
1.12
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
9
8
3
Intangible fixed assets
Goodwill
£
Cost
At 1 June 2024 and 31 May 2025
30,250
Amortisation and impairment
At 1 June 2024 and 31 May 2025
30,250
Carrying amount
At 31 May 2025
-
0
At 31 May 2024
-
0
STEVE SWAIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 6 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 June 2024
27,019
823,245
850,264
Additions
-
0
104,250
104,250
At 31 May 2025
27,019
927,495
954,514
Depreciation and impairment
At 1 June 2024
8,248
479,970
488,218
Depreciation charged in the year
2,702
93,706
96,408
At 31 May 2025
10,950
573,676
584,626
Carrying amount
At 31 May 2025
16,069
353,819
369,888
At 31 May 2024
18,771
343,275
362,046
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
115,708
177,334
Other debtors
15,357
31,367
131,065
208,701
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
-
0
1,405
Total debtors
131,065
210,106
STEVE SWAIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 7 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,439
10,254
Trade creditors
58,985
53,489
Taxation and social security
59,127
61,257
Other creditors
93,221
125,775
221,772
250,775

The amount of £10,439 (2024: £10,254) included in creditors due within one year is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
-
0
10,383
Other creditors
145,413
177,359
145,413
187,742

The amount of £nil (2024: £10,383) included in creditors due after more than one year is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.

8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
2025-05-31 2024-06-01 false false false 13 February 2026 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr S R Swain Mrs S J Swain 04661616 2024-06-01 2025-05-31 04661616 2025-05-31 04661616 2024-05-31 04661616 core:LandBuildings 2025-05-31 04661616 core:OtherPropertyPlantEquipment 2025-05-31 04661616 core:LandBuildings 2024-05-31 04661616 core:OtherPropertyPlantEquipment 2024-05-31 04661616 core:CurrentFinancialInstruments core:WithinOneYear 2025-05-31 04661616 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 04661616 core:WithinOneYear 2025-05-31 04661616 core:WithinOneYear 2024-05-31 04661616 core:AfterOneYear 2025-05-31 04661616 core:AfterOneYear 2024-05-31 04661616 core:CurrentFinancialInstruments 2025-05-31 04661616 core:CurrentFinancialInstruments 2024-05-31 04661616 core:CurrentFinancialInstruments core:AfterOneYear 2025-05-31 04661616 core:CurrentFinancialInstruments core:AfterOneYear 2024-05-31 04661616 core:ShareCapital 2025-05-31 04661616 core:ShareCapital 2024-05-31 04661616 core:RetainedEarningsAccumulatedLosses 2025-05-31 04661616 core:RetainedEarningsAccumulatedLosses 2024-05-31 04661616 core:ShareCapitalOrdinaryShareClass1 2025-05-31 04661616 core:ShareCapitalOrdinaryShareClass1 2024-05-31 04661616 bus:Director1 2024-06-01 2025-05-31 04661616 core:Goodwill 2024-06-01 2025-05-31 04661616 core:LeaseholdImprovements 2024-06-01 2025-05-31 04661616 core:PlantMachinery 2024-06-01 2025-05-31 04661616 core:FurnitureFittings 2024-06-01 2025-05-31 04661616 core:MotorVehicles 2024-06-01 2025-05-31 04661616 2023-06-01 2024-05-31 04661616 core:NetGoodwill 2024-05-31 04661616 core:NetGoodwill 2025-05-31 04661616 core:NetGoodwill 2024-05-31 04661616 core:LandBuildings 2024-05-31 04661616 core:OtherPropertyPlantEquipment 2024-05-31 04661616 2024-05-31 04661616 core:LandBuildings 2024-06-01 2025-05-31 04661616 core:OtherPropertyPlantEquipment 2024-06-01 2025-05-31 04661616 core:Non-currentFinancialInstruments core:AfterOneYear 2025-05-31 04661616 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 04661616 core:Non-currentFinancialInstruments 2025-05-31 04661616 core:Non-currentFinancialInstruments 2024-05-31 04661616 bus:OrdinaryShareClass1 2024-06-01 2025-05-31 04661616 bus:OrdinaryShareClass1 2025-05-31 04661616 bus:OrdinaryShareClass1 2024-05-31 04661616 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 04661616 bus:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 04661616 bus:FRS102 2024-06-01 2025-05-31 04661616 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 04661616 bus:CompanySecretary1 2024-06-01 2025-05-31 04661616 bus:FullAccounts 2024-06-01 2025-05-31 xbrli:pure xbrli:shares iso4217:GBP