Registration number:
Semester Limited
for the Year Ended 30 June 2023
Semester Limited
Contents
Company Information |
|
Director's Report |
|
Accountants' Report |
|
Abridged Profit and Loss Account |
|
Statement of Comprehensive Income |
|
Abridged Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Unaudited Abridged Financial Statements |
Semester Limited
Company Information
Director |
Ms Lucy Chu |
Registered office |
|
Accountants |
|
Semester Limited
Director's Report for the Year Ended 30 June 2023
The director presents her report and the abridged financial statements for the year ended 30 June 2023.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is that of property management and letting.
Small companies provision statement
This report has 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.
Approved and authorised by the
......................................... |
Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Semester Limited
for the Year Ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Semester Limited for the year ended 30 June 2023 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.
It is your duty to ensure that Semester 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 Semester Limited. You consider that Semester 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 Semester 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.
......................................
Cottingham
East Yorkshire
HU16 4JA
Semester Limited
Abridged Profit and Loss Account for the Year Ended 30 June 2023
Note |
2023 |
2022 |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Profit before tax |
|
|
|
Profit for the financial year |
|
|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Semester Limited
Statement of Comprehensive Income for the Year Ended 30 June 2023
2023 |
2022 |
|
Profit for the year |
|
|
Total comprehensive income for the year |
|
|
Semester Limited
(Registration number: 08110297)
Abridged Balance Sheet as at 30 June 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Investment property |
|
|
|
Current assets |
|||
Cash at bank and in hand |
|
|
|
Prepayments and accrued income |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
( |
( |
|
Accruals and deferred income |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
1 |
1 |
|
Retained earnings |
(14,429) |
(17,492) |
|
Shareholders' deficit |
(14,428) |
(17,491) |
For the financial year ending 30 June 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 director acknowledges her 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.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
......................................... |
Semester Limited
Statement of Changes in Equity for the Year Ended 30 June 2023
Share capital |
Retained earnings |
Total |
|
At 1 July 2022 |
|
( |
( |
Profit for the year |
- |
|
|
At 30 June 2023 |
|
( |
( |
Share capital |
Retained earnings |
Total |
|
At 1 July 2021 |
|
( |
( |
Profit for the year |
- |
|
|
At 30 June 2022 |
1 |
(17,492) |
(17,491) |
Semester Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These abridged 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.
Depreciation
Asset class |
Depreciation method and rate |
Property |
0% on cost |
Investment property
Semester Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023
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.
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.
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Cost or valuation |
Depreciation |
Carrying amount |
At 30 June 2023 |
Investment properties
2023 |
|
At 1 July |
|
There has been no valuation of investment property by an independent valuer.