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REGISTERED NUMBER: 07150407 (England and Wales)











Servicebase Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2022






Servicebase Ltd (Registered number: 07150407)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Servicebase Ltd

Company Information
for the Year Ended 31 March 2022







DIRECTORS: T Seaborn
S Price





REGISTERED OFFICE: Unit 5
Albert Street
Rhyl
Denbighshire
LL18 2DA





REGISTERED NUMBER: 07150407 (England and Wales)





ACCOUNTANTS: Henry R. Davis & Co. Limited
Chartered Accountants
33 Chester Road West
Queensferry
Deeside
Flintshire
CH5 1SA

Servicebase Ltd (Registered number: 07150407)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 93,007 100,271

CURRENT ASSETS
Stocks 96,923 2,423
Debtors 5 10,116 8,627
Cash at bank 1 1
107,040 11,051
CREDITORS
Amounts falling due within one year 6 171,708 93,634
NET CURRENT LIABILITIES (64,668 ) (82,583 )
TOTAL ASSETS LESS CURRENT LIABILITIES 28,339 17,688

CREDITORS
Amounts falling due after more than one
year

7

80,674

95,251
NET LIABILITIES (52,335 ) (77,563 )

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings (52,341 ) (77,569 )
SHAREHOLDERS' FUNDS (52,335 ) (77,563 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

Servicebase Ltd (Registered number: 07150407)

Balance Sheet - continued
31 March 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2022 and were signed on its behalf by:





T Seaborn - Director


Servicebase Ltd (Registered number: 07150407)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Servicebase Ltd 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Servicebase Ltd (Registered number: 07150407)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

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 3 (2021 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2021
and 31 March 2022 77,051 46,042 123,093
DEPRECIATION
At 1 April 2021 2,525 20,297 22,822
Charge for year 770 6,494 7,264
At 31 March 2022 3,295 26,791 30,086
NET BOOK VALUE
At 31 March 2022 73,756 19,251 93,007
At 31 March 2021 74,526 25,745 100,271

5. DEBTORS
31.3.22 31.3.21
£    £   
Amounts falling due within one year:
Trade debtors 226 6,980
Other debtors 9,890 1,193
10,116 8,173

Amounts falling due after more than one year:
Other debtors - 454

Aggregate amounts 10,116 8,627

Servicebase Ltd (Registered number: 07150407)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts 54,521 31,988
Hire purchase contracts 8,608 10,482
Trade creditors 47,525 29,950
Taxation and social security 20,859 18,341
Other creditors 40,195 2,873
171,708 93,634

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans 73,761 79,731
Hire purchase contracts 6,913 15,520
80,674 95,251

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 39,429 27,455

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.22 31.3.21
£    £   
Bank overdrafts 45,938 22,253

9. BANK LOAN

A bank loan amounting to £45,950 (2021:£50,000) relates to a loan provided under the Bounce Back Loan Scheme. This scheme provides the lender with a government-backed guarantee (100%) against outstanding facility balance (principle and interest). No interest was payable in the first 12 months. Interest is now charged at 2.5% per annum.