Ser-Vac Ltd 04955063 false 2023-01-01 2023-08-31 2023-08-31 The principal activity of the company is sales and repairs of electrical goods, the company ceased trading on 11th July 2023. Digita Accounts Production Advanced 6.30.9574.0 true true 04955063 2023-01-01 2023-08-31 04955063 2023-08-31 04955063 bus:OrdinaryShareClass1 2023-08-31 04955063 core:RetainedEarningsAccumulatedLosses 2023-08-31 04955063 core:ShareCapital 2023-08-31 04955063 core:CurrentFinancialInstruments 2023-08-31 04955063 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 04955063 core:Non-currentFinancialInstruments 2023-08-31 04955063 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 04955063 core:FurnitureFittingsToolsEquipment 2023-08-31 04955063 core:MotorVehicles 2023-08-31 04955063 core:OtherPropertyPlantEquipment 2023-08-31 04955063 bus:SmallEntities 2023-01-01 2023-08-31 04955063 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-08-31 04955063 bus:FullAccounts 2023-01-01 2023-08-31 04955063 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-08-31 04955063 bus:RegisteredOffice 2023-01-01 2023-08-31 04955063 bus:Director1 2023-01-01 2023-08-31 04955063 bus:OrdinaryShareClass1 2023-01-01 2023-08-31 04955063 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-08-31 04955063 bus:Agent1 2023-01-01 2023-08-31 04955063 core:Buildings 2023-01-01 2023-08-31 04955063 core:FurnitureFittings 2023-01-01 2023-08-31 04955063 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-08-31 04955063 core:MotorVehicles 2023-01-01 2023-08-31 04955063 core:OtherPropertyPlantEquipment 2023-01-01 2023-08-31 04955063 countries:England 2023-01-01 2023-08-31 04955063 2022-12-31 04955063 core:FurnitureFittingsToolsEquipment 2022-12-31 04955063 core:MotorVehicles 2022-12-31 04955063 core:OtherPropertyPlantEquipment 2022-12-31 04955063 2022-01-01 2022-12-31 04955063 2022-12-31 04955063 bus:OrdinaryShareClass1 2022-12-31 04955063 core:RetainedEarningsAccumulatedLosses 2022-12-31 04955063 core:ShareCapital 2022-12-31 04955063 core:CurrentFinancialInstruments 2022-12-31 04955063 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 04955063 core:Non-currentFinancialInstruments 2022-12-31 04955063 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 04955063 core:FurnitureFittingsToolsEquipment 2022-12-31 04955063 core:MotorVehicles 2022-12-31 04955063 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04955063

Ser-Vac Ltd

Unaudited Filleted Financial Statements

for the Period from 1 January 2023 to 31 August 2023

 

Ser-Vac Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Ser-Vac Ltd

Company Information

Director

Mr David Morris

Registered office

175 Blackpool Road
Lytham St Annes
Lancashire
FY8 4AA

Accountants

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Ser-Vac Ltd
for the Period Ended 31 August 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ser-Vac Ltd for the period ended 31 August 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Ser-Vac Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Ser-Vac Ltd and state those matters that we have agreed to state to the Board of Directors of Ser-Vac Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ser-Vac Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ser-Vac Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Ser-Vac Ltd. You consider that Ser-Vac Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Ser-Vac Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

4 April 2024

 

Ser-Vac Ltd

(Registration number: 04955063)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

7,669

Current assets

 

Stocks

5

-

1,000

Debtors

6

325

8,381

Cash at bank and in hand

 

42

13,520

 

367

22,901

Creditors: Amounts falling due within one year

7

(16,757)

(22,791)

Net current (liabilities)/assets

 

(16,390)

110

Total assets less current liabilities

 

(16,390)

7,779

Creditors: Amounts falling due after more than one year

7

-

(6,159)

Provisions for liabilities

-

(1,243)

Net (liabilities)/assets

 

(16,390)

377

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(16,490)

277

Shareholders' (deficit)/funds

 

(16,390)

377

For the financial period ending 31 August 2023 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 accounts for the period 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.

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.

 

Ser-Vac Ltd

(Registration number: 04955063)
Balance Sheet as at 31 August 2023

Approved and authorised by the director on 4 April 2024
 

.........................................
Mr David Morris
Director

 

Ser-Vac Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 August 2023

1

General information

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

The address of its registered office is:
175 Blackpool Road
Lytham St Annes
Lancashire
FY8 4AA

These financial statements were authorised for issue by the director on 4 April 2024.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, 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 current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Ser-Vac Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 August 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.

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

Fixtures and fittings

10% Reducing balance

Workshop

20% Reducing balance

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 at amortised cost using the effective interest method, 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Ser-Vac Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 August 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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2 (2022 - 2).

 

Ser-Vac Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 August 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

19,249

6,000

6,712

31,961

Disposals

(19,249)

(6,000)

(6,712)

(31,961)

At 31 August 2023

-

-

-

-

Depreciation

At 1 January 2023

14,130

4,576

5,586

24,292

Eliminated on disposal

(14,130)

(4,576)

(5,586)

(24,292)

At 31 August 2023

-

-

-

-

Carrying amount

At 31 August 2023

-

-

-

-

At 31 December 2022

5,119

1,424

1,126

7,669

5

Stocks

2023
£

2022
£

Other inventories

-

1,000

6

Debtors

Current

2023
£

2022
£

Trade debtors

95

1,890

Prepayments

-

153

Other debtors

230

6,338

 

325

8,381

 

Ser-Vac Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 August 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

9,127

5,400

Taxation and social security

 

1,654

5,811

Accruals and deferred income

 

1,415

11,580

Other creditors

 

4,561

-

 

16,757

22,791

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

-

6,159

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Share of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

6,159

 

Ser-Vac Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 August 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

7,959

5,400

Bank overdrafts

1,168

-

9,127

5,400

10

Related party transactions

Director's remuneration

The director's remuneration for the period was as follows:

2023
£

2022
£

Remuneration

31,668

21,538