Swift Home Improvements Limited - Accounts to registrar (filleted) - small 18.2

Swift Home Improvements Limited - Accounts to registrar (filleted) - small 18.2

SWIFT HOME IMPROVEMENTS LTD - Company Information

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REGISTERED NUMBER: 03679915 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2020

FOR

SWIFT HOME IMPROVEMENTS LIMITED
SWIFT HOME IMPROVEMENTS LIMITED (REGISTERED NUMBER: 03679915)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SWIFT HOME IMPROVEMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2020







DIRECTOR: L Swift





SECRETARY: Miss S Lapsley





REGISTERED OFFICE: R/O 217 London Road
Greenhithe
Dartford
Kent
DA9 9DQ





REGISTERED NUMBER: 03679915 (England and Wales)





ACCOUNTANTS: Riddingtons Ltd
The Old Barn
Off Wood Street
Swanley Village
Kent
BR8 7PA
Page 1
SWIFT HOME IMPROVEMENTS LIMITED (REGISTERED NUMBER: 03679915)

BALANCE SHEET
31 JANUARY 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 240,094 232,007

CURRENT ASSETS
Stocks 18,930 14,320
Debtors 5 582,915 532,609
Cash at bank and in hand 160,912 172,279
762,757 719,208
CREDITORS
Amounts falling due within one year 6 379,413 323,824
NET CURRENT ASSETS 383,344 395,384
TOTAL ASSETS LESS CURRENT
LIABILITIES
623,438
627,391

PROVISIONS FOR LIABILITIES 3,463 1,926
NET ASSETS 619,975 625,465

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 619,875 625,365
SHAREHOLDERS' FUNDS 619,975 625,465

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 October 2020 and were signed by:



L Swift - Director


The notes form part of these financial statements

Page 2
SWIFT HOME IMPROVEMENTS LIMITED (REGISTERED NUMBER: 03679915)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2020

1. STATUTORY INFORMATION

Swift Home Improvements 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.

Turnover
Turnover 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.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2019 - 13 ) .

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SWIFT HOME IMPROVEMENTS LIMITED (REGISTERED NUMBER: 03679915)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2020

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2019 221,869 50,802 272,671
Additions - 11,383 11,383
At 31 January 2020 221,869 62,185 284,054
DEPRECIATION
At 1 February 2019 - 40,664 40,664
Charge for year - 3,296 3,296
At 31 January 2020 - 43,960 43,960
NET BOOK VALUE
At 31 January 2020 221,869 18,225 240,094
At 31 January 2019 221,869 10,138 232,007

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 486,909 522,456
Other debtors 96,006 10,153
582,915 532,609

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade creditors 300,515 236,450
Taxation and social security 16,415 64,477
Other creditors 62,483 22,897
379,413 323,824

7. ULTIMATE CONTROLLING PARTY

The company is under the control of L Swift, the director.

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