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REGISTERED NUMBER: 01362815 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Serenegrade Limited

Serenegrade Limited (Registered number: 01362815)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Serenegrade Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs E J Taylor-Betts
S G Betts





REGISTERED OFFICE: 100 High Ash Drive
Alwoodley
Leeds
West Yorkshire
LS17 8RE





REGISTERED NUMBER: 01362815 (England and Wales)





ACCOUNTANTS: Leon & Company
Chartered Accountants
100 High Ash Drive
Alwoodley
Leeds
West Yorkshire
LS17 8RE

Serenegrade Limited (Registered number: 01362815)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,880 15,925
Investment property 5 2,380,000 2,380,000
2,402,880 2,395,925

CURRENT ASSETS
Stocks 10,000 -
Debtors 6 1,250 287
Cash at bank 96,750 47,529
108,000 47,816
CREDITORS
Amounts falling due within one year 7 203,411 158,723
NET CURRENT LIABILITIES (95,411 ) (110,907 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,307,469

2,285,018

CREDITORS
Amounts falling due after more than one
year

8

(53,745

)

(65,784

)

PROVISIONS FOR LIABILITIES (111,634 ) (109,895 )
NET ASSETS 2,142,090 2,109,339

CAPITAL AND RESERVES
Called up share capital 9 100 100
Share premium 11,388 11,388
Non-distributable reserve 10 914,511 914,511
Capital redemption reserve 12 12
Retained earnings 1,216,079 1,183,328
SHAREHOLDERS' FUNDS 2,142,090 2,109,339

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Serenegrade Limited (Registered number: 01362815)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





S G Betts - Director


Serenegrade Limited (Registered number: 01362815)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Serenegrade 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Serenegrade Limited (Registered number: 01362815)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 45,996
Additions 12,000
At 31 March 2024 57,996
DEPRECIATION
At 1 April 2023 30,071
Charge for year 5,045
At 31 March 2024 35,116
NET BOOK VALUE
At 31 March 2024 22,880
At 31 March 2023 15,925

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 2,380,000
NET BOOK VALUE
At 31 March 2024 2,380,000
At 31 March 2023 2,380,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2014 610,744
Valuation in 2015 18,577
Valuation in 2016 (30,000 )
Valuation in 2017 30,000
Valuation in 2018 (35,000 )
Valuation in 2019 145,806
Valuation in 2020 50,000
Valuation in 2021 60,000
Valuation in 2022 110,300
Valuation in 2023 60,000
Cost 1,359,573
2,380,000

Serenegrade Limited (Registered number: 01362815)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INVESTMENT PROPERTY - continued

If Investment property had not been revalued it would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 1,359,573 1,359,573

Investment property was valued on an open market basis on 31 March 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 1,250 287

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 12,237 12,435
Taxation and social security 12,472 15,863
Other creditors 178,702 130,425
203,411 158,723

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 53,745 65,784

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,797 16,045

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
5 Ordinary A £1 5 5
5 Ordinary B £1 5 5
90 Ordinary C £1 90 90
100 100

Serenegrade Limited (Registered number: 01362815)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. RESERVES
Non-distributable
reserve
£   
At 1 April 2023
and 31 March 2024 914,511

The transfer between reserves represents the reclassification of investment property valuation gains and losses (net of associated deferred tax) into an other reserve, on the basis that the net valuation gains are not available for distribution to shareholders.

Revaluations £1,020,427 less deferred tax £105,916, non-distributable reserve £914,511.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in debtors is an amount of £911 owed from directors. These loans are interest free and repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The controlling party is S G Betts.

The ultimate controlling party is S G Betts.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Serenegrade Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Serenegrade Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Serenegrade Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Serenegrade Limited. You consider that Serenegrade 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 financial statements of Serenegrade 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 financial statements.






Leon & Company
Chartered Accountants
100 High Ash Drive
Alwoodley
Leeds
West Yorkshire
LS17 8RE


Date: .............................................