Servechain Ltd 13244548 true 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is Business Consultancy Digita Accounts Production Advanced 6.30.9574.0 true Mr Bradley Scott Holland 13244548 2022-04-01 2023-03-31 13244548 2023-03-31 13244548 bus:OrdinaryShareClass1 bus:CumulativeNon-redeemableShares 2023-03-31 13244548 core:RetainedEarningsAccumulatedLosses 2023-03-31 13244548 core:ShareCapital 2023-03-31 13244548 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13244548 core:FurnitureFittingsToolsEquipment 2023-03-31 13244548 core:DeferredTaxation 2023-03-31 13244548 bus:FRS102 2022-04-01 2023-03-31 13244548 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 13244548 bus:FullAccounts 2022-04-01 2023-03-31 13244548 bus:RegisteredOffice 2022-04-01 2023-03-31 13244548 bus:Director1 2022-04-01 2023-03-31 13244548 bus:OrdinaryShareClass1 bus:CumulativeNon-redeemableShares 2022-04-01 2023-03-31 13244548 bus:EntityNoLongerTradingButTradedInPast 2022-04-01 2023-03-31 13244548 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13244548 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 13244548 core:OfficeEquipment 2022-04-01 2023-03-31 13244548 countries:AllCountries 2022-04-01 2023-03-31 13244548 2022-03-31 13244548 core:FurnitureFittingsToolsEquipment 2022-03-31 13244548 core:DeferredTaxation 2022-03-31 13244548 2021-03-04 2022-03-31 13244548 2022-03-31 13244548 bus:OrdinaryShareClass1 bus:CumulativeNon-redeemableShares 2022-03-31 13244548 core:RetainedEarningsAccumulatedLosses 2022-03-31 13244548 core:ShareCapital 2022-03-31 13244548 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 13244548 core:FurnitureFittingsToolsEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13244548

Servechain Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Servechain Ltd

(Registration number: 13244548)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

907

907

Current assets

 

Cash at bank and in hand

 

64,464

64,464

Creditors: Amounts falling due within one year

6

(17,577)

(17,577)

Net current assets

 

46,887

46,887

Total assets less current liabilities

 

47,794

47,794

Provisions for liabilities

7

(172)

(172)

Net assets

 

47,622

47,622

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

47,522

47,522

Shareholders' funds

 

47,622

47,622

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 22 September 2023
 

.........................................
Mr Bradley Scott Holland
Director

 

Servechain Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
396 Wilmslow Road
Manchester
Lancashire
M20 3BN
United Kingdom

These financial statements were authorised for issue by the director on 22 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

Reducing Balance- 15%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Servechain Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Servechain Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

1,080

1,080

At 31 March 2023

1,080

1,080

Depreciation

At 1 April 2022

173

173

At 31 March 2023

173

173

Carrying amount

At 31 March 2023

907

907

At 31 March 2022

907

907

5

Cash and cash equivalents

2023
£

2022
£

Cash at bank

64,464

64,464

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

144

144

Amounts due to related parties

950

950

Social security and other taxes

 

1,330

1,330

Accruals

 

425

425

Income tax liability

14,728

14,728

 

17,577

17,577

 

Servechain Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Provisions for liabilities

Deferred tax
£

Total
£

At 1 April 2022

172

172

At 31 March 2023

172

172

8

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £Nil (2022 - £10,000).

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Share of £1 each

100

100

100

100