Swift Aerospace Services Limited - Accounts to registrar (filleted) - small 23.2.5
Swift Aerospace Services Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30 June 2023 |
| for |
| Swift Aerospace Services Limited |
| Swift Aerospace Services Limited (Registered number: 02724904) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Swift Aerospace Services Limited |
| Company Information |
| for the Year Ended 30 June 2023 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Salisbury House |
| London |
| EC2M 5SQ |
| Swift Aerospace Services Limited (Registered number: 02724904) |
| Balance Sheet |
| 30 June 2023 |
| 30/6/23 | 30/6/22 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| Swift Aerospace Services Limited (Registered number: 02724904) |
| Balance Sheet - continued |
| 30 June 2023 |
| 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 |
| Swift Aerospace Services Limited (Registered number: 02724904) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2023 |
| 1. | Statutory information |
| Swift Aerospace Services Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Swift Aerospace Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| 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. |
| Swift Aerospace Services Limited (Registered number: 02724904) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 2. | Accounting policies - continued |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| Swift Aerospace Services Limited (Registered number: 02724904) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 4. | Tangible fixed assets |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| Cost |
| At 1 July 2022 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 June 2023 |
| Depreciation |
| At 1 July 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 June 2023 |
| Net book value |
| At 30 June 2023 |
| At 30 June 2022 |
| 5. | Fixed asset investments |
| Shares in |
| group |
| undertakings |
| £ |
| Cost |
| At 1 July 2022 |
| and 30 June 2023 |
| Net book value |
| At 30 June 2023 |
| At 30 June 2022 |
| 6. | Debtors: amounts falling due within one year |
| 30/6/23 | 30/6/22 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Swift Aerospace Services Limited (Registered number: 02724904) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 7. | Creditors: amounts falling due within one year |
| 30/6/23 | 30/6/22 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | Secured debts |
| The following secured debts are included within creditors: |
| 30/6/23 | 30/6/22 |
| £ | £ |
| Bank overdrafts |
| Secured by a fixed and floating charge over company assets. |
| 9. | Disclosure under Section 444(5B) of the Companies Act 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | Other financial commitments |
| Land and buildings - operating leases expiring | 30/6/23 | 30/6/22 |
| £ | £ |
| - within one year | 122,800 | 122,800 |
| - within two to five years | 61,400 | 184.200 |
| 184,200 | 307,000 |
| Swift Aerospace Services Limited (Registered number: 02724904) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 11. | Directors' advances, credits and guarantees |
| The following advances and credits from a director subsisted during the years ended 30 June 2023 and 30 June 2022: |
| 30/6/23 | 30/6/22 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| Other transactions |
| The following amounts were paid to a director: | 30/6/23 | 30/6/22 |
| £ | £ |
| R Gerber |
| Dividends | 250,000 | - |