Swayne & Partners Topco Limited - Period Ending 2021-10-22
Swayne & Partners Topco Limited - Period Ending 2021-10-22
Registration number:
for the Period from 5 August 2021 to
Swayne & Partners Topco Limited
(Registration number: 13549613)
Balance Sheet as at 22 October 2021
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22 October 2021 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Total equity |
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For the financial period ending 22 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
Director
Swayne & Partners Topco Limited
Notes to the Unaudited Financial Statements for the Period from 5 August 2021 to 22 October 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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 - '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 for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Judgements
No significant judgements have been made by management in preparing these financial statements. |
Key sources of estimation uncertainty
No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Swayne & Partners Topco Limited
Notes to the Unaudited Financial Statements for the Period from 5 August 2021 to 22 October 2021
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquiisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.
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.
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.
Swayne & Partners Topco Limited
Notes to the Unaudited Financial Statements for the Period from 5 August 2021 to 22 October 2021
Financial instruments
Classification
Recognition and measurement
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Investments |
2021 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost |
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Additions |
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At 22 October 2021 |
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Carrying amount |
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At 22 October 2021 |
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Swayne & Partners Topco Limited
Notes to the Unaudited Financial Statements for the Period from 5 August 2021 to 22 October 2021
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2021 |
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Subsidiary undertakings |
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The Chcolate Factory
England |
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Subsidiary undertakings |
Swayne & Partners Holdings Ltd The principal activity of Swayne & Partners Holdings Ltd is |
Debtors |
22 October 2021 |
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Other debtors |
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Share capital |
Allotted, called up and fully paid shares
22 October 2021 |
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No. |
£ |
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300 |
Upon incorporation, the company issued 5 ordinary shares of £1 each. On 20 October 2021 a further 295 ordinary shares were issued in consideration for the transfer to the company of the entire issued share capital of Swayne & Partners Holdings Limited pursuant to a demerger agreement of even date.
Related party transactions |
Summary of transactions with key management
At the balance sheet date, the former directors owed the company £5, as shown under other debtors. There are no fixed terms for repayment and no interest has been charged.