Company Registration No. 11811529 (England and Wales)
Swallands Estates Ltd
Unaudited accounts
for the year ended 28 February 2023
Swallands Estates Ltd
Unaudited accounts
Contents
Swallands Estates Ltd
Company Information
for the year ended 28 February 2023
Company Number
11811529 (England and Wales)
Registered Office
69 Ferndale Road
London
N15 6UG
England
Swallands Estates Ltd
Statement of financial position
as at 28 February 2023
Investment property
495,000
495,000
Cash at bank and in hand
8,698
36,740
Creditors: amounts falling due within one year
(97,257)
(116,172)
Net current liabilities
(83,459)
(79,332)
Total assets less current liabilities
414,881
415,986
Creditors: amounts falling due after more than one year
(355,250)
(358,101)
Provisions for liabilities
Deferred tax
(8,300)
(8,300)
Called up share capital
100
100
Profit and loss account
51,231
49,485
Shareholders' funds
51,331
49,585
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 November 2023 and were signed on its behalf by
Meir Goldberg
Director
Company Registration No. 11811529
Swallands Estates Ltd
Notes to the Accounts
for the year ended 28 February 2023
Swallands Estates Ltd is a private company, limited by shares, registered in England and Wales, registration number 11811529. The registered office is 69 Ferndale Road, London, N15 6UG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance basis.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Swallands Estates Ltd
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Total
5
Transactions with related parties
Included within creditors is an amount aggregating to £38,028 (2022:£38,028) due to companies with a director in common with this company.
6
Average number of employees
During the year the average number of employees was 0 (2022: 0).
