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Unaudited Financial Statements for the Year Ended 31 March 2019 |
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Swiftcare UK Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2019 |
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for |
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Swiftcare UK Limited |
Swiftcare UK Limited (Registered number: 03051338) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2019 |
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Page |
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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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Swiftcare UK Limited |
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Company Information |
for the Year Ended 31 March 2019 |
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DIRECTOR: |
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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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25A Market Square |
Bicester |
Oxfordshire |
OX26 6AD |
Swiftcare UK Limited (Registered number: 03051338) |
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Balance Sheet |
31 March 2019 |
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31.3.19 | 31.3.18 |
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 (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES |
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( |
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NET (LIABILITIES)/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 director acknowledges his 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. |
Swiftcare UK Limited (Registered number: 03051338) |
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Balance Sheet - continued |
31 March 2019 |
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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 director on
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Swiftcare UK Limited (Registered number: 03051338) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2019 |
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1. | STATUTORY INFORMATION |
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Swiftcare UK Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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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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Plant & Machinery - 25% |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
bringing stocks to their present location and condition. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
Swiftcare UK Limited (Registered number: 03051338) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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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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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
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COST |
At 1 April 2018 |
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Additions |
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At 31 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
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. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Bank loans |
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8. | LEASING AGREEMENTS |
The Company has operating lease commitments which are due for renewal within the next twelve months with |
the commitment for the twelve month period being £223,668. The operating leases relate to warehouse and |
office premises used by the Company in respect of its trade and for motor vehicles used wholly and exclusively |
for the purposes of the business.. |
Swiftcare UK Limited (Registered number: 03051338) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.19 | 31.3.18 |
£ | £ |
Trade Creditors | 187,571 | - |
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Abn Amro Commercial Finance Plc hold a fixed and floating charge over the assets of the Company in respect of |
the amount owed to them from time to time by the Company. |
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10. | RELATED PARTY DISCLOSURES |
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The Company engaged the services of a business known as Swiftcare Rentals during both 2019 and 2018. This |
business is operated by J.H. Worrod, the Director, and supplies support services to the Company. Charges of |
£122,616 (2018: £122,616) were made in the year to the Company. These charges are at similar rates to those |
made by non-related parties and are therefore considered to be at arms length. |
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Members of the Director's family are employed by the Company. These employees are contracted at the same |
rates of pay as other staff carrying out similar duties, therefore, their employment is considered to be at arms |
length. |
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11. | ULTIMATE CONTROLLING PARTY |
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J.H. Worrod, the Director owns 100% of the issued share capital of the Company and is therefore the ultimate |
controlling party. |