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Registration number: NI668753

Semac Holdings Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Semac Holdings Ltd

(Registration number: NI668753)
Balance Sheet as at 31 October 2023

Note

31 October
2023
£

31 October
2022
£

Fixed assets

 

Tangible assets

4

479,050

479,050

Investments

5

20,000

20,000

 

499,050

499,050

Current assets

 

Debtors

6

725,933

633,889

Cash at bank and in hand

 

77,431

169,599

 

803,364

803,488

Net assets

 

1,302,414

1,302,538

Capital and reserves

 

Called up share capital

7

20,050

20,050

Retained earnings

1,282,364

1,282,488

Shareholders' funds

 

1,302,414

1,302,538

For the financial year ending 31 October 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 his 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.

 

Semac Holdings Ltd

(Registration number: NI668753)
Balance Sheet as at 31 October 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 July 2024
 

.........................................
Mr Darwin Smith
Director

 

Semac Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

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

The address of its registered office is: Unit 16, Pennybridge Industrial Estate, Ballymena, Co. Antrim, BT42 3HB.

These financial statements were authorised for issue by the director on 18 July 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 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 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Semac Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Consolidation

Under section 399 of The Companies Act 2006, the Group is exempt from the requirement to prepare group accounts by virtue of its size. Therefore the accounts present information about the Company as an individual undertaking and not about its group.

3

Staff numbers

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

 

Semac Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Other property, plant and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

59,050

420,000

479,050

At 31 October 2023

59,050

420,000

479,050

Depreciation

Carrying amount

At 31 October 2023

59,050

420,000

479,050

At 31 October 2022

59,050

420,000

479,050

 

Semac Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

5

Investments

31 October
2023
£

31 October
2022
£

Investments in subsidiaries

20,000

20,000

Subsidiaries

£

Cost or valuation

At 1 November 2022

20,000

Provision

Carrying amount

At 31 October 2023

20,000

At 31 October 2022

20,000

6

Debtors

Current

31 October
2023
£

31 October
2022
£

Other debtors

725,933

633,889

 

725,933

633,889

7

Share capital

Allotted, called up and fully paid shares

 

31 October
2023

31 October
2022

 

No.

£

No.

£

A Ordinary of £1 each

20,000

20,000

20,000

20,000

B Ordinary of £1 each

50

50

50

50

 

20,050

20,050

20,050

20,050