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Company Registration No. 12004231 (England and Wales)
Sertronics Commercial Ltd Unaudited accounts for the year ended 31 May 2023
Sertronics Commercial Ltd Unaudited accounts Contents
Page
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Sertronics Commercial Ltd Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
18,122 
20,630 
Tangible assets
3,491 
5,130 
21,613 
25,760 
Current assets
Inventories
160,754 
173,188 
Debtors
216,720 
212,811 
Cash at bank and in hand
4,856 
15,224 
382,330 
401,223 
Creditors: amounts falling due within one year
(325,200)
(362,979)
Net current assets
57,130 
38,244 
Total assets less current liabilities
78,743 
64,004 
Creditors: amounts falling due after more than one year
(18,188)
(26,746)
Net assets
60,555 
37,258 
Capital and reserves
Called up share capital
31,001 
31,001 
Profit and loss account
29,554 
6,257 
Shareholders' funds
60,555 
37,258 
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2023 and were signed on its behalf by
D Ince Director Company Registration No. 12004231
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Sertronics Commercial Ltd Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Sertronics Commercial Ltd is a private company, limited by shares, registered in England and Wales, registration number 12004231. The registered office is 45 REGAL DRIVE, WALSALL ENTERPRISE PARK, WALSALL, WEST MIDLANDS, WS2 9HQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Intangible fixed assets
Intangible fixed assets are included at cost less accumulated amortisation. Intangible assets are amortised evenly over their useful economic life of 10 years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Fixtures & fittings
33% Straight Line
Computer equipment
33% Straight Line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Sertronics Commercial Ltd Notes to the Accounts for the year ended 31 May 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account in the period to which they relate.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 June 2022
25,081 
At 31 May 2023
25,081 
Amortisation
At 1 June 2022
4,451 
Charge for the year
2,508 
At 31 May 2023
6,959 
Net book value
At 31 May 2023
18,122 
At 31 May 2022
20,630 
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 June 2022
20,420 
Additions
3,500 
At 31 May 2023
23,920 
Depreciation
At 1 June 2022
15,290 
Charge for the year
5,139 
At 31 May 2023
20,429 
Net book value
At 31 May 2023
3,491 
At 31 May 2022
5,130 
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Sertronics Commercial Ltd Notes to the Accounts for the year ended 31 May 2023
6
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
D Ince
Advance to director
9,564 
- 
9,564 
- 
9,564 
- 
9,564 
- 
7
Average number of employees
During the year the average number of employees was 29 (2022: 30).
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