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COMPANY REGISTRATION NUMBER: 12299391
SERRANO STAYS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
29 November 2022
SERRANO STAYS LTD
STATEMENT OF FINANCIAL POSITION
29 November 2022
29 Nov 22
30 Nov 21
Note
£
£
£
FIXED ASSETS
Tangible assets
4
225,298
CURRENT ASSETS
Stocks
225,298
Debtors
5
100,000
30,901
Cash at bank and in hand
466
21,888
---------
---------
100,466
278,087
CREDITORS: amounts falling due within one year
6
( 239,817)
( 235,601)
---------
---------
NET CURRENT (LIABILITIES)/ASSETS
( 139,351)
42,486
---------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
85,947
42,486
CREDITORS: amounts falling due after more than one year
7
( 32,657)
( 42,000)
--------
--------
NET ASSETS
53,290
486
--------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
53,190
386
--------
----
SHAREHOLDERS FUNDS
53,290
486
--------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 29 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SERRANO STAYS LTD
STATEMENT OF FINANCIAL POSITION (continued)
29 November 2022
These financial statements were approved by the board of directors and authorised for issue on 20 October 2023 , and are signed on behalf of the board by:
C Thompson
Director
Company registration number: 12299391
SERRANO STAYS LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 DECEMBER 2021 TO 29 NOVEMBER 2022
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Place, 4 Central Place, Leeds, LS10 1FB.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements have also been prepared on the going concern basis. The directors consider the going concern basis to be appropriate as they have confirmed their ongoing support.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its open market value at each reporting date and any changes in value are recognised in the statement of income and retained earnings.
Income tax
Deferred Taxation is provided using the liability method on all timing differences that have originated but not reversed at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently state at cost less any accumulated depreciation.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. TANGIBLE ASSETS
Investment Property
£
Cost
At 1 December 2021
Additions
225,298
---------
At 29 November 2022
225,298
---------
Depreciation
At 1 December 2021 and 29 November 2022
---------
Carrying amount
At 29 November 2022
225,298
---------
At 30 November 2021
---------
5. DEBTORS
29 Nov 22
30 Nov 21
£
£
Trade debtors
70,000
Other debtors
30,000
30,901
---------
--------
100,000
30,901
---------
--------
6. CREDITORS: amounts falling due within one year
29 Nov 22
30 Nov 21
£
£
Corporation tax
12,386
Other creditors
227,431
235,601
---------
---------
239,817
235,601
---------
---------
7. CREDITORS: amounts falling due after more than one year
29 Nov 22
30 Nov 21
£
£
Bank loans and overdrafts
32,657
42,000
--------
--------