Aerial Swift Limited - Accounts to registrar (filleted) - small 18.2

Aerial Swift Limited - Accounts to registrar (filleted) - small 18.2

AERIAL SWIFT LIMITED - Company Information

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REGISTERED NUMBER: 05705643 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

AERIAL SWIFT LIMITED
AERIAL SWIFT LIMITED (REGISTERED NUMBER: 05705643)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


AERIAL SWIFT LIMITED


COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2020







DIRECTORS: J J Attawia
Mr J C Burstall





REGISTERED OFFICE: Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: 05705643 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES
Page 1
AERIAL SWIFT LIMITED (REGISTERED NUMBER: 05705643)


STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2020

31.12.20 31.12.19
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,025,000 3,025,000

CURRENT ASSETS
Debtors 5 192,506 86,765

CREDITORS
Amounts falling due within one year 6 32,086 31,026
NET CURRENT ASSETS 160,420 55,739
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,185,420
3,080,739

PROVISIONS FOR LIABILITIES 371,830 371,830
NET ASSETS 2,813,590 2,708,909

CAPITAL AND RESERVES
Called up share capital 7 7,500 7,500
Special reserve 8 1,668,600 1,668,600
Retained earnings 8 1,137,490 1,032,809
SHAREHOLDERS' FUNDS 2,813,590 2,708,909

The notes form part of these financial statements

Page 2 continued...
AERIAL SWIFT LIMITED (REGISTERED NUMBER: 05705643)


STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2020


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 28 July 2021 and were signed on its behalf by:




Mr J C Burstall - Director



J J Attawia - Director


The notes form part of these financial statements

Page 3
AERIAL SWIFT LIMITED (REGISTERED NUMBER: 05705643)


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


1. STATUTORY INFORMATION

Aerial Swift 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 as modified by the revaluation of certain assets.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising frm changes in fair value is recognised in other comprehensive income.

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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

Page 4 continued...
AERIAL SWIFT LIMITED (REGISTERED NUMBER: 05705643)


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


4. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 January 2020
and 31 December 2020 3,025,000
Net book value
At 31 December 2020 3,025,000
At 31 December 2019 3,025,000

Fair value at 31 December 2020 is represented by:
£   
Valuation in 2017 125,000
Valuation in 2016 1,100,000
Valuation in 2015 300,000
Valuation in 2014 1,500,000
3,025,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£    £   
Amounts owed by group undertakings 192,506 86,765

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£    £   
Tax 24,555 23,494
VAT 6,212 6,212
Accruals and deferred income 1,319 1,320
32,086 31,026

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.20 31.12.19
value: £    £   
75,000 Ordinary shares 0.10 7,500 7,500

Page 5 continued...
AERIAL SWIFT LIMITED (REGISTERED NUMBER: 05705643)


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


8. RESERVES
Retained Special
earnings reserve Totals
£    £    £   

At 1 January 2020 1,032,809 1,668,600 2,701,409
Profit for the year 104,681 104,681
At 31 December 2020 1,137,490 1,668,600 2,806,090

9. RELATED PARTY DISCLOSURES

The premises are rented to a company which is ultimately under the control of the directors. Rents are charged at market rates and there is no inter-company indebtedness resulting from the charging of rents.

10. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by the directors.

The Immediate parent company is Green Shoots Real Estate Limited, a company incorporated in the UK.

Page 6