Swift Crafted Limited

Contents

Statement of financial position	1
Notes to the Unaudited Financial Statements	2 to 7

Swift Crafted Limited

(Registration number: 2098421)
Statement of financial position as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	3,000	6,000
Tangible assets	5	1,147,270	1,166,601
		1,150,270	1,172,601
Current assets
Debtors	6	1,769,006	1,044,934
Cash at bank and in hand		559,315	1,481,833
		2,328,321	2,526,767
Creditors: Amounts falling due within one year	7	(2,107,210)	(2,314,991)
Net current assets		221,111	211,776
Total assets less current liabilities		1,371,381	1,384,377
Creditors: Amounts falling due after more than one year	7	(141,122)	(172,638)
Provisions for liabilities		(8,884)	(8,884)
Net assets		1,221,375	1,202,855
Capital and reserves
Called up share capital	9	100,000	100,000
Retained earnings		1,121,375	1,102,855
Shareholders' funds		1,221,375	1,202,855

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 2 September 2026 and signed on its behalf by:
 

......................................... Mr S T Hearle Director

Swift Crafted Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
2 Epsom Downs Metro Centre
Waterfield
Tadworth
Surrey
KT20 5LR

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Swift Crafted Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Asset class	Depreciation method and rate
Furniture, fittings & equipment	25% reducing balance
Motor vehicles	25% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Swift Crafted Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 32 (2024 - 32).

4	Intangible assets

	Computer software £	Total £
Cost or valuation
Additions	12,000	12,000
At 31 December 2025	12,000	12,000
Amortisation
At 1 January 2025	6,000	6,000
Amortisation charge	3,000	3,000
At 31 December 2025	9,000	9,000
Carrying amount
At 31 December 2025	3,000	3,000
At 31 December 2024	6,000	6,000

Swift Crafted Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2025	930,000	142,972	276,571	1,349,543
Additions	36,295	4,303	-	40,598
At 31 December 2025	966,295	147,275	276,571	1,390,141
Depreciation
At 1 January 2025	-	121,699	61,244	182,943
Charge for the year	-	6,096	53,832	59,928
At 31 December 2025	-	127,795	115,076	242,871
Carrying amount
At 31 December 2025	966,295	19,480	161,495	1,147,270
At 31 December 2024	930,000	21,273	215,328	1,166,601

Included within the net book value of land and buildings above is £966,295 (2024 - £930,000) in respect of freehold land and buildings.
 

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		972,488	488,604
Amounts owed by related parties		542,402	495,586
Prepayments		40,349	42,423
Other debtors		213,767	18,321
		1,769,006	1,044,934

Swift Crafted Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	31,516	30,480
Trade creditors		1,766,712	1,656,850
Taxation and social security		80,908	126,550
Accruals and deferred income		228,074	140,214
Other creditors		-	360,897
		2,107,210	2,314,991

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and Hire Purchase contracts	8	141,122	172,638