Serengeti Holdings Limited 12140595 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is Other letting and operating of own or leased real estate Digita Accounts Production Advanced 6.30.9574.0 true 12140595 2022-02-01 2023-01-31 12140595 2023-01-31 12140595 bus:OrdinaryShareClass1 2023-01-31 12140595 bus:OrdinaryShareClass2 2023-01-31 12140595 bus:OrdinaryShareClass3 2023-01-31 12140595 core:OtherReservesSubtotal 2023-01-31 12140595 core:RetainedEarningsAccumulatedLosses 2023-01-31 12140595 core:ShareCapital 2023-01-31 12140595 core:CurrentFinancialInstruments 2023-01-31 12140595 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 12140595 core:Non-currentFinancialInstruments 2023-01-31 12140595 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 12140595 bus:SmallEntities 2022-02-01 2023-01-31 12140595 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 12140595 bus:FullAccounts 2022-02-01 2023-01-31 12140595 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 12140595 bus:RegisteredOffice 2022-02-01 2023-01-31 12140595 bus:Director1 2022-02-01 2023-01-31 12140595 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 12140595 bus:OrdinaryShareClass2 2022-02-01 2023-01-31 12140595 bus:OrdinaryShareClass3 2022-02-01 2023-01-31 12140595 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 12140595 countries:England 2022-02-01 2023-01-31 12140595 2022-01-31 12140595 2020-09-01 2022-01-31 12140595 2022-01-31 12140595 bus:OrdinaryShareClass1 2022-01-31 12140595 bus:OrdinaryShareClass2 2022-01-31 12140595 bus:OrdinaryShareClass3 2022-01-31 12140595 core:OtherReservesSubtotal 2022-01-31 12140595 core:RetainedEarningsAccumulatedLosses 2022-01-31 12140595 core:ShareCapital 2022-01-31 12140595 core:CurrentFinancialInstruments 2022-01-31 12140595 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 12140595 core:Non-currentFinancialInstruments 2022-01-31 12140595 core:Non-currentFinancialInstruments core:AfterOneYear 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12140595

Serengeti Holdings Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 January 2023

 

Serengeti Holdings Limited

(Registration number: 12140595)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

692,500

555,352

Current assets

 

Debtors

5

534

700

Cash at bank and in hand

 

32,950

1,715

 

33,484

2,415

Creditors: Amounts falling due within one year

6

(145,074)

(253,387)

Net current liabilities

 

(111,590)

(250,972)

Total assets less current liabilities

 

580,910

304,380

Creditors: Amounts falling due after more than one year

6

(475,013)

(239,292)

Provisions for liabilities

(23,917)

(13,755)

Net assets

 

81,980

51,333

Capital and reserves

 

Called up share capital

8

102

102

Other reserves

101,954

58,635

Retained earnings

(20,076)

(7,404)

Shareholders' funds

 

81,980

51,333

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Serengeti Holdings Limited

(Registration number: 12140595)
Balance Sheet as at 31 January 2023

Approved and authorised by the Board on 25 October 2023 and signed on its behalf by:
 


Mr G S Jugpal
Director

   
 

Serengeti Holdings Limited

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

1

General information

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

Registration number 12140595

The address of its registered office is:
10 Lightwood Close
Knowle
Solihull
B93 9LS

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Serengeti Holdings Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real
estate determined annually by the directors. The directors use observable market prices, adjusted if
necessary for any difference in the nature, location or condition of the specific asset. Changes in fair
value are recognised in profit or loss.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

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

 

Serengeti Holdings Limited

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

4

Investment properties

2023
£

At 1 February

555,352

Additions

83,666

Fair value adjustments

53,482

At 31 January

692,500

There has been no valuation of investment property by an independent valuer.

5

Debtors

2023
£

2022
£

Prepayments

534

700

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

1,250

2,000

Amounts due to related parties

15,113

146,811

Other payables

 

128,711

104,576

 

145,074

253,387

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

7,976

8,000

Other borrowings

467,037

231,292

475,013

239,292

 

Serengeti Holdings Limited

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

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

1,250

2,000

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

7,976

8,000

Other borrowings

467,037

231,292

475,013

239,292

The other borrowings are secured on the investment properties to which they relate.

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary A share of £1 each

1

1

1

1

Ordinary B share of £1 each

1

1

1

1

 

102

102

102

102