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Unaudited Financial Statements |
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for the Year Ended 31 August 2020 |
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for |
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Swiftpark Limited |
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Unaudited Financial Statements |
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for the Year Ended 31 August 2020 |
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for |
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Swiftpark Limited |
Swiftpark Limited (Registered number: 01926196) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Swiftpark Limited |
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Company Information |
for the Year Ended 31 August 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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12 Acorn Business Park |
Northarbour Road |
Portsmouth |
Hampshire |
PO6 3TH |
Swiftpark Limited (Registered number: 01926196) |
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Balance Sheet |
31 August 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Swiftpark Limited (Registered number: 01926196) |
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Balance Sheet - continued |
31 August 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Swiftpark Limited (Registered number: 01926196) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2020 |
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1. | STATUTORY INFORMATION |
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Swiftpark Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Swiftpark Limited (Registered number: 01926196) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2020 |
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4. | TANGIBLE FIXED ASSETS |
Improvements |
Short | to | Plant and |
leasehold | property | machinery |
£ | £ | £ |
COST |
At 1 September 2019 |
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Additions |
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At 31 August 2020 |
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DEPRECIATION |
At 1 September 2019 |
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Charge for year |
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At 31 August 2020 |
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NET BOOK VALUE |
At 31 August 2020 |
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At 31 August 2019 |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 September 2019 |
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Additions |
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At 31 August 2020 |
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DEPRECIATION |
At 1 September 2019 |
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Charge for year |
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At 31 August 2020 |
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NET BOOK VALUE |
At 31 August 2020 |
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At 31 August 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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Swiftpark Limited (Registered number: 01926196) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2020 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2020 | 2019 |
£ | £ |
Within one year |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2020 | 2019 |
£ | £ |
Bank overdrafts |
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Bank loans |
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Stock finance loan | 230,993 | 283,630 |
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The liability to the company's bankers is secured by a fixed and floating charge over the company's assets dated 4th May 2005, and directors' guarantees. |
The Stock finance loan is secured by a charge on specific stock items. |
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9. | RELATED PARTY DISCLOSURES |
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Hinktone Limited
is a related party being under the control of G E Sargeant who also controls this company. At
the 31st August 2020 the company owed Hinktone Limited the sum of £3 (2019 owed by Hinktone £1,022). |
During the year under review premises rent of £48,000 was paid to the director. |
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10. | ULTIMATE CONTROLLING PARTY |
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The controlling party is G E Sargeant. |