REGISTERED NUMBER: 10642475 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

SWAILES OF CHELSEA LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

R H H Swailes

REGISTERED OFFICE:

4th Floor

St James House

St James Square

Cheltenham

GL50 3PR

REGISTERED NUMBER:

10642475 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

4th Floor

St James House

St James Square

Cheltenham

England

GL50 3PR

FIXED ASSETS

Property, plant and equipment

4

4,791

5,636

Investment property

5

1,200,000

1,200,000

1,204,791

1,205,636

CURRENT ASSETS

Debtors

6

264

264

CREDITORS

Amounts falling due within one year

7

835,304

831,798

NET CURRENT LIABILITIES

(835,040

)

(831,534

)

TOTAL ASSETS LESS CURRENT LIABILITIES

369,751

374,102

CREDITORS

Amounts falling due after more than one year

8

(427,800

)

(427,800

)

PROVISIONS FOR LIABILITIES

(37,267

)

(37,267

)

NET LIABILITIES

(95,316

)

(90,965

)

CAPITAL AND RESERVES

Called up share capital

100

100

Investment property reserve

111,800

111,800

Retained earnings

(207,216

)

(202,865

)

SHAREHOLDERS' FUNDS

(95,316

)

(90,965

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2026 and were signed by:

R H H Swailes - Director

1.	STATUTORY INFORMATION

Swailes of Chelsea 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 as modified by the revaluation of certain assets.

The company is funded via a bank loan and loan from the company director. The director has confirmed that he will not request repayment of the loan to the detriment of the business. The director, therefore, has a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future and believes the going concern basis of the accounting appropriate in preparing the annual financial statements.

Turnover

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

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Going concern

The Company has net liabilities at the balance sheet date due primarily to an intercompany loan. The directors have received assurance that the loan will not be required to be repaid within 12 months of the balance sheet date and continued financial support will be available from the related party. The Company therefore consider it appropriate to prepare the financial statements on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

Cost

At 1 December 2024

and 30 November 2025

9,885

Depreciation

At 1 December 2024

4,249

Charge for year

845

At 30 November 2025

5,094

Net book value

At 30 November 2025

4,791

At 30 November 2024

5,636

5.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 December 2024

and 30 November 2025

1,200,000

Net book value

At 30 November 2025

1,200,000

At 30 November 2024

1,200,000

The fair value of the company's investment property at the Balance Sheet date has been determined by the director. On an historical cost basis the property would have been included at £1,050,934 (2024: £1,050,934).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

264

264

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other creditors

835,304

831,798

There is an amount included in Other Creditors of £828,635 that relates to loans provided by group companies. No interest is charged on these balances.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

427,800

427,800

9.	SECURED DEBTS

The bank loan is secured on the investment property 20 Britten Street, Chelsea, SW3 3TU and by a personal guarantee from the director.