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REGISTERED NUMBER: 07183361 (England and Wales)


















SERWOOD LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






SERWOOD LIMITED (REGISTERED NUMBER: 07183361)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 4


SERWOOD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: P D Garratt
Dr P D Cozens





REGISTERED OFFICE: 32 London Bridge Street
London
SE1 9SG





REGISTERED NUMBER: 07183361 (England and Wales)





ACCOUNTANTS: MHA
Chartered Accountants
MHA House
Charter Court
Swansea Enterprise Park
Swansea
SA7 9FS

SERWOOD LIMITED (REGISTERED NUMBER: 07183361)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 - 199
Cash at bank 9,791 23,944
9,791 24,143
CREDITORS
Amounts falling due within one year 5 2,985,421 2,987,949
NET CURRENT LIABILITIES (2,975,630 ) (2,963,806 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,975,630

)

(2,963,806

)

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings (2,975,634 ) (2,963,810 )
SHAREHOLDERS' FUNDS (2,975,630 ) (2,963,806 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 December 2023 and were signed on its behalf by:





Dr P D Cozens - Director


SERWOOD LIMITED (REGISTERED NUMBER: 07183361)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Serwood Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in Sterling (£). Monetary amounts are rounded to nearest £.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The principal accounting policies applied in the preparation of these financial statements are set out below.

Basis of preparation other than going concern
The directors have received no indication from the company's related parties that they will support the company for the foreseeable future, in order to meet all its liabilities as they fall due. Therefore following the cessation of trading in August 2016, the directors consider that it is appropriate to continue to prepare the financial statements on a non-going concern basis.

Financial instruments
Short-term debtors, including other debtors, are measured at transaction price less impairment. Where the arrangement constitutes a financing transaction, it is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Short-term creditors, including trade creditors and other creditors are measured at the transaction price. Where the arrangement constitutes a financing transaction, the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

SERWOOD LIMITED (REGISTERED NUMBER: 07183361)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period or in the period of the revision and future periods if the revision affects both current and future periods.

Provisions
A provision is recognised in the statement of financial position when the company has a present legal or constructive obligation as a result of a past event, it is more likely than not that an outflow of economic benefits will be required to settle the obligation and the obligation can be estimated reliably. Provisions are not discounted.

Provisions for payments on account are provided when the company becomes obligated and the liability can be reliably estimated.

Other provisions are recognised as the best estimate of the consideration required to settle the present obligation at the end of the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 199

All debtors are due within one year.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 14 14
Amounts owed to related parties 38,933 41,461
Other creditors 2,946,474 2,946,474
2,985,421 2,987,949

6. RELATED PARTY DISCLOSURES

Serwood Limited is a company in which members of Mathys & Squire LLP are shareholders.

Mathys & Squire LLP
At the balance sheet date Serwood Limited owed £38,933 (2022 - £41,461) to Mathys & Squire LLP. The balance is interest free and repayable on demand.