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SERIES EIGHT LTD

Registered Number
07804092
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

SERIES EIGHT LTD
Company Information
for the year from 1 June 2022 to 31 May 2023

Directors

VASSILIADES, Francesca
VASSILIADES, Marios Andreas

Registered Address

33 Thornhill Gardens
London
E10 5EN

Registered Number

07804092 (England and Wales)
SERIES EIGHT LTD
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets521,47216,970
21,47216,970
Current assets
Debtors6137,856129,597
Cash at bank and on hand427,074435,075
564,930564,672
Creditors amounts falling due within one year7(519,626)(536,449)
Net current assets (liabilities)45,30428,223
Total assets less current liabilities66,77645,193
Net assets66,77645,193
Capital and reserves
Called up share capital100100
Profit and loss account66,67645,093
Shareholders' funds66,77645,193
The financial statements were approved and authorised for issue by the Board of Directors on 2 October 2023, and are signed on its behalf by:
VASSILIADES, Marios Andreas
Director
Registered Company No. 07804092
SERIES EIGHT LTD
Notes to the Financial Statements
for the year ended 31 May 2023

1.Statutory information
Series Eight Ltd is a private company, limited by shares, domiciled in England and Wales, registration number 07804092.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Functional and presentation currency policy
The financial statements are presented in £ sterling.
Turnover policy
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation.Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Computer Equipment 25% Straight Line Office Equipment 25% Straight Line Plant and Machinery 25% Straight Line

Straight line (years)
Plant and machinery4
Office Equipment4
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Current and deferred tax assets and liabilities are not discounted
Foreign currency translation and operations policy
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Government grants and other government assistance policy
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
4.Employee information

20232022
Average number of employees during the year1210
5.Property, plant and equipment

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 June 2239949,06249,461
Additions-13,77613,776
At 31 May 2339962,83863,237
Depreciation and impairment
At 01 June 2239932,09232,491
Charge for year-9,2749,274
At 31 May 2339941,36641,765
Net book value
At 31 May 23-21,47221,472
At 31 May 22-16,97016,970
6.Debtors

2023

2022

££
Trade debtors / trade receivables137,856129,524
Other debtors-73
Total137,856129,597
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables463,106510,254
Taxation and social security53,46022,414
Other creditors2,4503,236
Accrued liabilities and deferred income610545
Total519,626536,449
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.