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Registration number: 12300643

Seropian Ltd

trading as Staffordshire Hot Tubs & Swimspas

Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Seropian Ltd

trading as Staffordshire Hot Tubs & Swimspas

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Seropian Ltd

trading as Staffordshire Hot Tubs & Swimspas

(Registration number: 12300643)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

26,816

46,820

Current assets

 

Stocks

5

180,674

227,351

Debtors

6

37,483

14,423

Cash at bank and in hand

 

75,909

69,371

 

294,066

311,145

Creditors: Amounts falling due within one year

7

(10,904)

(12,494)

Net current assets

 

283,162

298,651

Total assets less current liabilities

 

309,978

345,471

Creditors: Amounts falling due after more than one year

7

(456,022)

(462,423)

Net liabilities

 

(146,044)

(116,952)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(146,045)

(116,953)

Shareholders' deficit

 

(146,044)

(116,952)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 August 2024 and signed on its behalf by:
 

 

Seropian Ltd

trading as Staffordshire Hot Tubs & Swimspas

(Registration number: 12300643)
Balance Sheet as at 31 December 2023

.........................................
Mrs Lindsay Wilkes
Company secretary and director

 

Seropian Ltd

trading as Staffordshire Hot Tubs & Swimspas

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

1

General information

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

The address of its registered office is:
Unit 1 Innovation Way
Stoke-On-Trent
Staffordshire
ST6 4BF

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. The company meets its day to day working capital requirements through funds provided by the directors. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods 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.

 

Seropian Ltd

trading as Staffordshire Hot Tubs & Swimspas

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

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Fixtures and Fittings

10% Straight Line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 3).

 

Seropian Ltd

trading as Staffordshire Hot Tubs & Swimspas

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

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 January 2023

-

23,504

7,306

53,942

Additions

4,700

-

-

-

Disposals

-

-

-

(27,525)

At 31 December 2023

4,700

23,504

7,306

26,417

Depreciation

At 1 January 2023

-

8,905

5,428

23,599

Charge for the year

39

3,653

1,814

3,715

Eliminated on disposal

-

-

-

(12,042)

At 31 December 2023

39

12,558

7,242

15,272

Carrying amount

At 31 December 2023

4,661

10,946

64

11,145

At 31 December 2022

-

14,599

1,878

30,343

Total
£

Cost or valuation

At 1 January 2023

84,752

Additions

4,700

Disposals

(27,525)

At 31 December 2023

61,927

Depreciation

At 1 January 2023

37,932

Charge for the year

9,221

Eliminated on disposal

(12,042)

At 31 December 2023

35,111

Carrying amount

At 31 December 2023

26,816

At 31 December 2022

46,820

 

Seropian Ltd

trading as Staffordshire Hot Tubs & Swimspas

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

5

Stocks

2023
£

2022
£

Stock

180,674

227,351

6

Debtors

Current

2023
£

2022
£

Trade debtors

29,399

2,217

Prepayments

8,084

7,204

Other debtors

-

5,002

 

37,483

14,423

 

Seropian Ltd

trading as Staffordshire Hot Tubs & Swimspas

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

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

4,836

3,693

Taxation and social security

4,118

7,344

Other creditors

1,950

1,457

10,904

12,494

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Loans and borrowings

456,022

462,423