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Registered number: 07822284
Swannair Limited
Unaudited Financial Statements
For The Year Ended 30 November 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 07822284
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 649,832 666,186
649,832 666,186
CURRENT ASSETS
Stocks 5 9,500 9,500
Debtors 6 100,929 75,192
Cash at Bank and in Hand 5,356 22,499
115,785 107,191
Creditors: Amounts Falling Due Within One Year 7 (111,389 ) (74,855 )
NET CURRENT ASSETS (LIABILITIES) 4,396 32,336
TOTAL ASSETS LESS CURRENT LIABILITIES 654,228 698,522
Creditors: Amounts Falling Due After More Than One Year 8 (152,036 ) (175,343 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,668 ) (9,136 )
NET ASSETS 496,524 514,043
CAPITAL AND RESERVES
Called Up Share Capital 10 101 101
Revaluation reserve 11 152,840 152,840
Profit and Loss Account 343,583 361,102
SHAREHOLDERS' FUNDS 496,524 514,043
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For the year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Scott Swann
Director
2nd July 2026
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Swannair Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07822284 . The registered office is 42 Goose Lane, Wickersley, Rotherham, S66 1JS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not depreciated
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 3 years straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 4)
4 4
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2024 620,000 32,343 74,340 18,862 745,545
Additions - 4,827 - 2,740 7,567
Disposals - - (19,995 ) - (19,995 )
As at 30 November 2025 620,000 37,170 54,345 21,602 733,117
Depreciation
As at 1 December 2024 - 22,497 40,682 16,180 79,359
Provided during the period - 2,201 13,587 1,807 17,595
Disposals - - (13,669 ) - (13,669 )
As at 30 November 2025 - 24,698 40,600 17,987 83,285
Net Book Value
As at 30 November 2025 620,000 12,472 13,745 3,615 649,832
As at 1 December 2024 620,000 9,846 33,658 2,682 666,186
5. Stocks
2025 2024
£ £
Stock 9,500 9,500
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 84,485 58,049
Other debtors 16,444 17,143
100,929 75,192
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 7,498 7,498
Trade creditors 36,436 31,675
Bank loans and overdrafts 15,011 17,262
Other creditors 25,550 550
Taxation and social security 26,894 17,870
111,389 74,855
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 6,874 14,372
Bank loans 145,162 160,971
152,036 175,343
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 7,498 7,498
Later than one year and not later than five years 6,874 14,372
14,372 21,870
14,372 21,870
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 101 101
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11. Reserves
Revaluation reserve Profit and Loss Account
£ £
As at 1 December 2024 152,840 361,102
Profit for the year and total comprehensive income - 16,981
Dividends paid - (34,500)
As at 30 November 2025 152,840 343,583
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