Swan Spilsby Limited - Period Ending 2023-07-31

Swan Spilsby Limited

(Registration number: 14211852)

Balance Sheet as at 31 July 2023

	Note	2023 £
Fixed assets
Investment property	3	3,550,000
Current assets
Debtors	4	48,420
Creditors: Amounts falling due within one year	5	(3,635,977)
Net current liabilities		(3,587,557)
Net liabilities		(37,557)
Capital and reserves
Called up share capital		110
Profit and loss account		(37,667)
Shareholders' deficit		(37,557)

For the financial period ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges his 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 13 June 2024
 

.........................................

Mr T Shah
Director

Swan Spilsby Limited

Notes to the Unaudited Financial Statements for the Period from 4 July 2022 to 31 July 2023

1	Accounting policies

Swan Spilsby Limited is a private company, limited by shares, domiciled in England and Wales, company number 14211852. The registered office is at 3 Cavendish Court, South Parade, Doncaster, South Yorkshire, DN1 2DJ.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover consists of rents and service charges receivable.

Investment property

Investment properties are included at fair value. Gains are recognised in the Statement of Income and Retained Earning.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

3	Investment properties

	2023 £
Additions	3,550,000
At 31 July	3,550,000

Swan Spilsby Limited

Notes to the Unaudited Financial Statements for the Period from 4 July 2022 to 31 July 2023

4

Debtors

	2023 £
Other debtors	48,420
	48,420

5

Creditors

Creditors: amounts falling due within one year

	Note	2023 £
Due within one year
Loans and borrowings	6	2,200,000
Trade creditors		29,771
Accruals and deferred income		34,381
Other creditors		1,371,825
		3,635,977

6	Loans and borrowings

	2023 £
Current loans and borrowings
Bank borrowings	2,200,000

The bank borrowings are secured by legal mortgage over all the companys investment properties and by fixed and floating charges over all the assets and undertakings of the company.