Swan Letting Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09958465 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2020

for

Swan Letting Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B Birla

Mrs N Birla

REGISTERED OFFICE:

79 Uplands Crescent

Uplands

Swansea

West Glamorgan

SA2 0EX

REGISTERED NUMBER:

09958465 (England and Wales)

ACCOUNTANTS:

Cambrian & Co Ltd

13A Victoria Gardens

Neath

West Glamorgan

SA11 3AY

FIXED ASSETS

Tangible assets

5

439

585

Investment property

6

1,810,804

1,260,925

1,811,243

1,261,510

CURRENT ASSETS

Cash at bank

25,778

1,600

CREDITORS

Amounts falling due within one year

7

850,806

761,878

NET CURRENT LIABILITIES

(825,028

)

(760,278

)

TOTAL ASSETS LESS CURRENT LIABILITIES

986,215

501,232

CREDITORS

Amounts falling due after more than one year

8

(960,305

)

(497,722

)

PROVISIONS FOR LIABILITIES

(119

)

(119

)

NET ASSETS

25,791

3,391

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

25,789

3,389

SHAREHOLDERS' FUNDS

25,791

3,391

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 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 16 March 2021 and were signed on its behalf by:

B Birla - Director

1.	STATUTORY INFORMATION

Swan Letting 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

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

Plant and machinery etc

-

25% 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 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2019

and 31 January 2020

1,390

DEPRECIATION

At 1 February 2019

805

Charge for year

146

At 31 January 2020

951

NET BOOK VALUE

At 31 January 2020

439

At 31 January 2019

585

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2019

1,260,925

Additions

549,879

At 31 January 2020

1,810,804

NET BOOK VALUE

At 31 January 2020

1,810,804

At 31 January 2019

1,260,925

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Bank loans and overdrafts

158,281

128,294

Taxation and social security

8,453

3,165

Other creditors

684,072

630,419

850,806

761,878

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.20

31.1.19

£

£

Bank loans

799,963

497,722

Other creditors

160,342

-

960,305

497,722

Amounts falling due in more than five years:

Repayable by instalments

Lloyds

252,985

262,222

Lloyds

298,478

-

551,463

262,222

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors operated a loan account with the company, the balance of which is separately disclosed in the notes to these accounts. The loan is repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors Mr. B. Birla and Mrs. N. Birla.