Registered number
10484348
SERENITY WELFARE LTD
Filleted Accounts
30 November 2023
SERENITY WELFARE LTD
Registered number: 10484348
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,743,644 3,787,265
Current assets
Stocks - 46,500
Debtors 4 287,136 206,184
Cash at bank and in hand 27,374 12,162
314,510 264,846
Creditors: amounts falling due within one year 5 (281,844) (278,647)
Net current assets/(liabilities) 32,666 (13,801)
Total assets less current liabilities 3,776,310 3,773,464
Creditors: amounts falling due after more than one year 6 (2,946,890) (3,109,079)
Net assets 829,420 664,385
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 828,420 663,385
Shareholder's funds 829,420 664,385
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs E Aklan
Director
Approved by the board on 31 July 2024
SERENITY WELFARE LTD
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 15 15
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 3,612,781 218,469 60,349 3,891,599
At 30 November 2023 3,612,781 218,469 60,349 3,891,599
Depreciation
At 1 December 2022 - 83,709 20,625 104,334
Charge for the year - 33,690 9,931 43,621
At 30 November 2023 - 117,399 30,556 147,955
Net book value
At 30 November 2023 3,612,781 101,070 29,793 3,743,644
At 30 November 2022 3,612,781 134,760 39,724 3,787,265
4 Debtors 2023 2022
£ £
Trade debtors 287,136 206,184
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 203,700 278,647
Taxation and social security costs 78,144 -
281,844 278,647
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 2,940,010 3,017,920
Other creditors 6,880 91,159
2,946,890 3,109,079
7 Other information
SERENITY WELFARE LTD is a private company limited by shares and incorporated in England. Its registered office is:
Wormley Hill House
Church Lane
Broxbourne
Hertfordshire
EN10 7QQ
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