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REGISTERED NUMBER: 10139700 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2022

for

SEP PROFESSIONAL SERVICES LIMITED

SEP PROFESSIONAL SERVICES LIMITED (REGISTERED NUMBER: 10139700)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Statement of Income and Retained Earnings 2

Balance Sheet 3

Notes to the Financial Statements 4


SEP PROFESSIONAL SERVICES LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2022







Directors: Mr D W Stafford
Mr S Pollitt
Mr D Fry





Registered office: The Mezzanine
The Royal Liver Building
Pier Head
Liverpool
L3 1HU





Registered number: 10139700 (England and Wales)





Accountants: NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

SEP PROFESSIONAL SERVICES LIMITED (REGISTERED NUMBER: 10139700)

Statement of Income and
Retained Earnings
FOR THE YEAR ENDED 31 DECEMBER 2022

Period
1.11.20
Year Ended to
31.12.22 31.12.21
Notes £    £   

TURNOVER 11,195,714 7,932,885

Cost of sales 9,989,933 6,614,267
GROSS PROFIT 1,205,781 1,318,618

Administrative expenses 1,163,790 1,016,674
41,991 301,944

Other operating income - 79,775
OPERATING PROFIT 4 41,991 381,719


Interest payable and similar expenses 5 - (1 )
PROFIT BEFORE TAXATION 41,991 381,720

Tax on profit 6 40,524 65,867
PROFIT FOR THE FINANCIAL YEAR 1,467 315,853

Retained earnings at beginning of year 1,935,950 1,718,092

Dividends (124,556 ) (97,995 )

RETAINED EARNINGS AT END OF YEAR 1,812,861 1,935,950

SEP PROFESSIONAL SERVICES LIMITED (REGISTERED NUMBER: 10139700)

Balance Sheet
31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 119,795 67,732

CURRENT ASSETS
Stocks 603,006 -
Debtors 8 2,598,481 3,012,701
Cash at bank and in hand 493,767 4,175,962
3,695,254 7,188,663
CREDITORS
Amounts falling due within one year 9 1,945,747 5,283,605
NET CURRENT ASSETS 1,749,507 1,905,058
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,869,302

1,972,790

CREDITORS
Amounts falling due after more than one year 10 (22,492 ) (32,840 )

PROVISIONS FOR LIABILITIES 11 (29,949 ) -
NET ASSETS 1,816,861 1,939,950

CAPITAL AND RESERVES
Called up share capital 12 4,000 4,000
Retained earnings 1,812,861 1,935,950
SHAREHOLDERS' FUNDS 1,816,861 1,939,950

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

The financial statements were approved by the Board of Directors and authorised for issue on 26 January 2024 and were signed on its behalf by:




Mr D W Stafford - Director


SEP PROFESSIONAL SERVICES LIMITED (REGISTERED NUMBER: 10139700)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Sep Professional Services 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & equipment - 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Short term debtors and creditors receivable
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

SEP PROFESSIONAL SERVICES LIMITED (REGISTERED NUMBER: 10139700)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2021 - 13 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

Period
1.11.20
Year Ended to
31.12.22 31.12.21
£    £   
Depreciation - owned assets 10,115 27,889

5. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.11.20
Year Ended to
31.12.22 31.12.21
£    £   
Bank interest - (1 )

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
Period
1.11.20
Year Ended to
31.12.22 31.12.21
£    £   
Current tax:
UK corporation tax 10,575 65,867

Deferred tax 29,949 -
Tax on profit 40,524 65,867

SEP PROFESSIONAL SERVICES LIMITED (REGISTERED NUMBER: 10139700)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

7. TANGIBLE FIXED ASSETS
Fixtures
& equipment
£   
COST
At 1 January 2022 141,309
Additions 62,178
At 31 December 2022 203,487
DEPRECIATION
At 1 January 2022 73,577
Charge for year 10,115
At 31 December 2022 83,692
NET BOOK VALUE
At 31 December 2022 119,795
At 31 December 2021 67,732

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 518,054 990,984
Amounts owed by group undertakings 1,764,340 1,879,593
Other debtors 316,087 142,124
2,598,481 3,012,701

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 1,332,218 2,356,537
Taxation and social security 238,024 742,068
Other creditors 375,505 2,185,000
1,945,747 5,283,605

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans 22,492 32,840

11. PROVISIONS FOR LIABILITIES
31.12.22 31.12.21
£    £   
Deferred tax 29,949 -

** CLIENT SCREEN - PROVISIONS FOR LIABILITIES AND CHARGES - MOVEMENTS IN PROVISIONS ETC - SHOULD BE COMPLETED IN RESPECT OF DEFERRED TAX

Please note: a deferred tax asset should be entered as a negative balance (i.e. include a "-" sign)


SEP PROFESSIONAL SERVICES LIMITED (REGISTERED NUMBER: 10139700)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:
Nominal
value:
31.12.21
£
31.10.20
£
1,000 A Ordinary £1 1,000 1,000
1,000 B Ordinary £1 1,000 1,000
1,000 C Ordinary £1 1,000 1,000
1,000 D Ordinary £1 1,000 1,000
4,000 4,000