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Registered Number: 07006407
England and Wales

 

 

 

SERANS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 October 2022

End date: 30 September 2023
Report to the directors on the preparation of the unaudited statutory accounts of SERANS LIMITED for the year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SERANS LIMITED for the year ended 30 September 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of SERANS LIMITED, as a body, in accordance with the terms of our engagement letter dated 21 December 2023 Our work has been undertaken solely to prepare for your approval the accounts of SERANS LIMITED and state those matters that we have agreed to state to the Board of Directors of SERANS LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SERANS LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that SERANS LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SERANS LIMITED. You consider that SERANS LIMITED is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of SERANS LIMITED. 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
30 September 2023



....................................................
Harans & co
Chartered certified accountants
324 Stafford road
Croydon
Surrey
CR0 4NH
21 December 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 64,464    70,201 
64,464    70,201 
Current assets      
Stocks 645,220    326,890 
Debtors 265,684    673,819 
Cash at bank and in hand 415,095    216,946 
1,325,999    1,217,655 
Creditors: amount falling due within one year (365,648)   (269,593)
Net current assets 960,351    948,062 
 
Total assets less current liabilities 1,024,815    1,018,263 
Creditors: amount falling due after more than one year (290,172)   (424,318)
Net assets 734,643    593,945 
 

Capital and reserves
     
Called up share capital 4 20    20 
Profit and loss account 734,623    593,925 
Shareholder's funds 734,643    593,945 
 


For the year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 21 December 2023 and were signed on its behalf by:


-------------------------------
Mrs Ajantha Baskaran
Director
2
General Information
SERANS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07006407, registration address Unit 7 Tramsheds Industrial Estate, Coomber Way, Croydon, Surrey, CR0 4TQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 15% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 15% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 8 (2022 : 8).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 October 2022 31,703    21,987    56,870    21,269    131,829 
Additions 4,950    690        5,640 
Disposals        
At 30 September 2023 36,653    22,677    56,870    21,269    137,469 
Depreciation
At 01 October 2022 17,709    11,431    24,012    8,476    61,628 
Charge for year 2,842    1,687    4,929    1,919    11,377 
On disposals        
At 30 September 2023 20,551    13,118    28,941    10,395    73,005 
Net book values
Closing balance as at 30 September 2023 16,102    9,559    27,929    10,874    64,464 
Opening balance as at 01 October 2022 13,994    10,556    32,858    12,793    70,201 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
20 Class shares of £1.00 each 20    20 
20    20 

3