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Registration number: 08110297

Semester Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 June 2023

 

Semester Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Abridged Profit and Loss Account

4

Statement of Comprehensive Income

5

Abridged Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Abridged Financial Statements

8 to 10

 

Semester Limited

Company Information

Director

Ms Lucy Chu

Registered office

73 Redland Drive
Kirkella
Hull
HU10 7UX

Accountants

MTS Accountancy
1 Dunswell Road
Cottingham
East Yorkshire
HU16 4JA

 

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:

Ms Lucy Chu

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 director on 11 March 2024
 

.........................................
Ms Lucy Chu
Director

 

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.

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

MTS Accountancy
1 Dunswell Road
Cottingham
East Yorkshire
HU16 4JA

11 March 2024

 

Semester Limited

Abridged Profit and Loss Account for the Year Ended 30 June 2023

Note

2023
£

2022
£

Gross profit

 

5,992

5,695

Administrative expenses

 

(2,929)

(2,846)

Profit before tax

3,063

2,849

Profit for the financial year

 

3,063

2,849

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

3,063

2,849

Total comprehensive income for the year

3,063

2,849

 

Semester Limited

(Registration number: 08110297)
Abridged Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

42,709

42,709

Current assets

 

Cash at bank and in hand

 

4,855

3,311

Prepayments and accrued income

 

327

421

Creditors: Amounts falling due within one year

(61,944)

(63,582)

Net current liabilities

 

(56,762)

(59,850)

Total assets less current liabilities

 

(14,053)

(17,141)

Accruals and deferred income

 

(375)

(350)

Net liabilities

 

(14,428)

(17,491)

Capital and reserves

 

Called up share capital

6

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 director on 11 March 2024
 

.........................................
Ms Lucy Chu
Director

   
     
 

Semester Limited

Statement of Changes in Equity for the Year Ended 30 June 2023

Share capital
£

Retained earnings
£

Total
£

At 1 July 2022

1

(17,492)

(17,491)

Profit for the year

-

3,063

3,063

At 30 June 2023

1

(14,429)

(14,428)

Share capital
£

Retained earnings
£

Total
£

At 1 July 2021

1

(20,341)

(20,340)

Profit for the year

-

2,849

2,849

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

1

General information

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

The address of its registered office is:
73 Redland Drive
Kirkella
Hull
HU10 7UX
England

These financial statements were authorised for issue by the director on 11 March 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 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

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Cost or valuation

Depreciation

Carrying amount

At 30 June 2023

Investment properties

2023
£

At 1 July

42,709

There has been no valuation of investment property by an independent valuer.

 

Semester Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

1

1

1

1