Company registration number 02873043 (England and Wales)
Swift Engineering Services (Derby) Limited
Unaudited Financial Statements
For the year ended 31 January 2026
Swift Engineering Services (Derby) Limited
Company information
Directors
A Brown
C L Brown
Company number
02873043
Registered office
Pontefract Street
Osmaston Park Industrial Estate
Derby
DE24 8JD
Accountants
DJH Derby Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
Swift Engineering Services (Derby) Limited
Contents
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
Swift Engineering Services (Derby) Limited
Accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Swift Engineering Services (Derby) Limited for the year ended 31 January 2026
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Swift Engineering Services (Derby) Limited for the year ended 31 January 2026 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the b oard of d irectors of Swift Engineering Services (Derby) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Swift Engineering Services (Derby) Limited and state those matters that we have agreed to state to the b oard of d irectors of Swift Engineering Services (Derby) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Swift Engineering Services (Derby) Limited and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that Swift Engineering Services (Derby) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Swift Engineering Services (Derby) Limited. You consider that Swift Engineering Services (Derby) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Swift Engineering Services (Derby) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

DJH Derby Limited
Accountants
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
26 May 2026
Swift Engineering Services (Derby) Limited
Balance Sheet
As at 31 January 2026
- 2 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
3
379,144
401,753
Current assets
Stocks
134,571
154,159
Debtors
4
202,876
130,690
Cash at bank and in hand
145,689
187,517
483,136
472,366
Creditors: amounts falling due within one year
5
(276,632)
(247,588)
Net current assets
206,504
224,778
Total assets less current liabilities
585,648
626,531
Creditors: amounts falling due after more than one year
6
(4,128)
(65,652)
Provisions for liabilities
(82,178)
(89,740)
Net assets
499,342
471,139
Capital and reserves
Called up share capital
8
400
400
Capital redemption reserve
600
600
Other reserves
500
500
Profit and loss reserves
497,842
469,639
Total equity
499,342
471,139
Swift Engineering Services (Derby) Limited
Balance Sheet (continued)
As at 31 January 2026
- 3 -

For the financial year ended 31 January 2026 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 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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 26 May 2026 and are signed on its behalf by:
C L Brown
Director
Company registration number 02873043 (England and Wales)
Swift Engineering Services (Derby) Limited
Notes to the financial statements
For the year ended 31 January 2026
- 4 -
1
Accounting policies
Company information

Swift Engineering Services (Derby) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pontefract Street, Osmaston Park Industrial Estate, Derby, DE24 8JD.

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
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

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.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

Swift Engineering Services (Derby) Limited
Notes to the financial statements (continued)
For the year ended 31 January 2026
1
Accounting policies
(Continued)
- 5 -
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:

Freehold land and buildings
2% straight line for buildings, no depreciation charged in respect of land
Plant and equipment
15% reducing balance
Fixtures and fittings
33% straight line, 15% reducing balance
Computers
33% straight line
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.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Swift Engineering Services (Derby) Limited
Notes to the financial statements (continued)
For the year ended 31 January 2026
1
Accounting policies
(Continued)
- 6 -
Classification of financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Basic financial liabilities

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.

1.7
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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Swift Engineering Services (Derby) Limited
Notes to the financial statements (continued)
For the year ended 31 January 2026
1
Accounting policies
(Continued)
- 7 -
1.9
Retirement benefits

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

2
Employees

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

2026
2025
Number
Number
Total
12
13
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 February 2025
111,251
577,420
7,317
9,471
171,061
876,520
Additions
-
0
6,030
-
0
3,239
67,435
76,704
Disposals
-
0
-
0
-
0
(725)
(66,900)
(67,625)
At 31 January 2026
111,251
583,450
7,317
11,985
171,596
885,599
Depreciation and impairment
At 1 February 2025
49,406
334,711
5,242
8,069
77,339
474,767
Depreciation charged in the year
3,129
37,249
311
1,930
24,155
66,774
Eliminated in respect of disposals
-
0
-
0
-
0
(698)
(34,388)
(35,086)
At 31 January 2026
52,535
371,960
5,553
9,301
67,106
506,455
Carrying amount
At 31 January 2026
58,716
211,490
1,764
2,684
104,490
379,144
At 31 January 2025
61,845
242,709
2,075
1,402
93,722
401,753
Swift Engineering Services (Derby) Limited
Notes to the financial statements (continued)
For the year ended 31 January 2026
- 8 -
4
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
189,162
115,612
Other debtors
13,714
15,078
202,876
130,690
5
Creditors: amounts falling due within one year
2026
2025
£
£
Loans and borrowings
60,809
64,243
Trade creditors
23,132
23,225
Taxation and social security
146,390
113,704
Other creditors
46,301
46,416
276,632
247,588
6
Creditors: amounts falling due after more than one year
2026
2025
£
£
Loans and borrowings
4,128
65,652
7
Loans and overdrafts
2026
2025
£
£
Hire purchase and finance lease liabilities
64,937
129,895
Payable within one year
60,809
64,243
Payable after one year
4,128
65,652

The above finance leases are secured against the assets to which they relate.

Swift Engineering Services (Derby) Limited
Notes to the financial statements (continued)
For the year ended 31 January 2026
- 9 -
8
Called up share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
200
200
200
200
Ordinary C shares of £1 each
25
25
25
25
Ordinary D shares of £1 each
125
125
125
125
Ordinary E shares of £1 each
30
30
30
30
Ordinary F shares of £1 each
10
10
10
10
Ordinary G shares of £1 each
10
10
10
10
400
400
400
400
9
Events after the reporting date

Since the balance sheet date dividends amounting to £145,000 have been voted.

10
Directors' transactions

At the balance sheet date the amounts owed to directors amounted to £2,675 (2025 - £7,352). The loans are provided interest free and are repayable on demand.

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