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REGISTERED NUMBER: 07145821 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Sermelo Limited

Sermelo Limited (Registered number: 07145821)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sermelo Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: J Jordan





REGISTERED OFFICE: Suite 2
Victoria House
South Street
Farnham
Surrey
GU9 7QU





REGISTERED NUMBER: 07145821 (England and Wales)





ACCOUNTANTS: Branston Adams
Suite 2, Victoria House
South Street
Farnham
Surrey
GU9 7QU

Sermelo Limited (Registered number: 07145821)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,191 39,676
Investments 5 309,366 277,142
342,557 316,818

CURRENT ASSETS
Debtors 6 118,779 221,952
Cash at bank and in hand 506,388 668,155
625,167 890,107
CREDITORS
Amounts falling due within one year 7 122,597 144,201
NET CURRENT ASSETS 502,570 745,906
TOTAL ASSETS LESS CURRENT
LIABILITIES

845,127

1,062,724

PROVISIONS FOR LIABILITIES 468 6,849
NET ASSETS 844,659 1,055,875

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 844,649 1,055,865
SHAREHOLDERS' FUNDS 844,659 1,055,875

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 director acknowledges his 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.

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 director and authorised for issue on 6 August 2024 and were signed by:





J Jordan - Director


Sermelo Limited (Registered number: 07145821)

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

1. STATUTORY INFORMATION

Sermelo 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.

Turnover
Turnover represents income derived from the ordinary activities of the business, net of value added taxation.

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

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

Sermelo Limited (Registered number: 07145821)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 - 8,931 56,808 26,562 92,301
Additions 4,583 - - - 4,583
At 31 March 2024 4,583 8,931 56,808 26,562 96,884
DEPRECIATION
At 1 April 2023 - 8,131 24,854 19,640 52,625
Charge for year 1,146 200 7,989 1,733 11,068
At 31 March 2024 1,146 8,331 32,843 21,373 63,693
NET BOOK VALUE
At 31 March 2024 3,437 600 23,965 5,189 33,191
At 31 March 2023 - 800 31,954 6,922 39,676

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 277,142
Additions 79,482
Disposals (77,505 )
Revaluations 30,247
At 31 March 2024 309,366
NET BOOK VALUE
At 31 March 2024 309,366
At 31 March 2023 277,142

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2017 44,031
Valuation in 2018 38,707
Valuation in 2019 10,712
Valuation in 2020 (9,455 )
Valuation in 2021 53,853
Valuation in 2022 180,302
Valuation in 2023 (41,008 )
Valuation in 2024 32,224
309,366

If fixed asset investments had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 277,142 277,142

Fixed asset investments were valued on an open market basis on 31 March 2024 by Rathbone Investment Management .

Sermelo Limited (Registered number: 07145821)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 112,712 216,615
Other debtors 6,067 5,337
118,779 221,952

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 31,220 (7,063 )
Taxation and social security 82,507 144,552
Other creditors 8,870 6,712
122,597 144,201

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
J Jordan
Balance outstanding at start of year - 9,800
Amounts repaid - (9,800 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Jordan.

Mr J Jordan was the companys ultimate controller throughout the year by virtue of his directorship and shareholding.