REGISTERED NUMBER: 03209917 (England and Wales)

SWM DEVELOPMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A E Griffiths

P E Bailey

SECRETARY:

A E Griffiths

REGISTERED OFFICE:

9 Water's Edge

66H Beach Road

Porthcawl

Mid Glam

CF36 5NE

REGISTERED NUMBER:

03209917 (England and Wales)

FIXED ASSETS

Tangible assets

4

3,387

4,234

Investments

5

46,503

46,503

49,890

50,737

CURRENT ASSETS

Debtors

6

731,337

629,960

Cash at bank and in hand

30,882

45,832

762,219

675,792

CREDITORS

Amounts falling due within one year

7

601,763

549,491

NET CURRENT ASSETS

160,456

126,301

TOTAL ASSETS LESS CURRENT LIABILITIES

210,346

177,038

CAPITAL AND RESERVES

Called up share capital

8

690,002

690,002

Retained earnings

(479,656

)

(512,964

)

SHAREHOLDERS' FUNDS

210,346

177,038

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 29 July 2026 and were signed on its behalf by:

A E Griffiths - Director

1.	STATUTORY INFORMATION

SWM Developments Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and have considered the facilities that are available to the company along with their continued support.

At the date of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, which are described in note 2, management are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

20% on reducing balance

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

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.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliable estimated.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Cash and cash equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 ' Basic Financial Instruments '.

Financial instruments are recognised 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 trade and other debtors, loans to related companies 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 November 2024

and 31 October 2025

6,116

DEPRECIATION

At 1 November 2024

1,882

Charge for year

847

At 31 October 2025

2,729

NET BOOK VALUE

At 31 October 2025

3,387

At 31 October 2024

4,234

5.	FIXED ASSET INVESTMENTS

Other

investment

£

COST

At 1 November 2024

and 31 October 2025

46,503

NET BOOK VALUE

At 31 October 2025

46,503

At 31 October 2024

46,503

All investments are stated at cost.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

731,337

629,960

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,347

5,551

Taxation and social security

27,957

896

Other creditors

572,459

543,044

601,763

549,491

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

690,002

Ordinary

£1

690,002

690,002

9.	TRANSACTIONS WITH DIRECTORS

The following advances and credits to directors subsisted during the years ended 31 October 2025 and 31 October 2024:

2025

2024

£

£

P E Bailey

Balance outstanding at start of year

84,798

99,584

Amounts advanced

149,070

191,198

Amounts repaid

(241,163

)

(205,984

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(7,295

)

84,798

A E Griffiths

Balance outstanding at start of year

8,016

4,840

Amounts advanced

5,923

8,016

Amounts repaid

(8,016

)

(4,840

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,923

8,016

The above balances are included within the respective debtors and creditors amounts falling due within one year.

The balances are interest free and repayable on demand.

10.	RELATED PARTY DISCLOSURES

Redi 205 Limited

During the year SWM Developments Limited charged £150,000 (2024: £150,000) worth of management charges to Redi 205 Limited. Redi 205 Limited is a company whose directors and shareholders include Mr P E Bailey. Included in other debtors is £719,504 (2024: £494,504) owed by Redi 205 Limited.

Mathern (2008) Limited

Mathern (2008) Limited, a company whose directors and shareholders include Mr P E Bailey, has provided financial support to SWM Developments Limited. At the year end, £44,185 (2024: £33,553) was owed to Mathern (2008) Limited and is included within other creditors.

Minrela Limited

Minrela Limited is a company whose directors and shareholders include Mr P E Bailey. Included in other creditors is £517,640 (2024: £507,644) owed to Minrela Limited.

All balances are non-interest bearing and repayable on demand.