Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31At the balance sheet date the Company was owed £52,413 by the director, and this is shown within other debtors on note 6 of the accounts. In the previous year the company owed the director £13,558 . This balance is interest free, repayable on demand and included within other creditors in note 7 to the financial statements. Included within debtors in note 6 to the financial statements is an amount of £122,036 (2023 - £119,600) due to the Company from a non-wholly owned subsidiary. This balance is interest free and has no set date for repayment.Spencer's Properties Limited The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102, not to disclose related party transactions with wholly owned subsidiaries within the group. During the year the Company received £228,706 (2023 - £170,309) from another company in which it holds a participating interest. This income is included within investment income in the profit and loss account. Black and Gray Holdings Limited1744492023-02-01falseHolding company11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10720905 2023-02-01 2024-01-31 10720905 2022-02-01 2023-01-31 10720905 2024-01-31 10720905 2023-01-31 10720905 c:Director1 2023-02-01 2024-01-31 10720905 c:RegisteredOffice 2023-02-01 2024-01-31 10720905 d:FreeholdInvestmentProperty 2023-02-01 2024-01-31 10720905 d:FreeholdInvestmentProperty 2024-01-31 10720905 d:CurrentFinancialInstruments 2024-01-31 10720905 d:CurrentFinancialInstruments 2023-01-31 10720905 d:Non-currentFinancialInstruments 2024-01-31 10720905 d:Non-currentFinancialInstruments 2023-01-31 10720905 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 10720905 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 10720905 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 10720905 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 10720905 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-01-31 10720905 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-01-31 10720905 d:ShareCapital 2024-01-31 10720905 d:ShareCapital 2023-01-31 10720905 d:SharePremium 2024-01-31 10720905 d:SharePremium 2023-01-31 10720905 d:RetainedEarningsAccumulatedLosses 2024-01-31 10720905 d:RetainedEarningsAccumulatedLosses 2023-01-31 10720905 c:OrdinaryShareClass1 2023-02-01 2024-01-31 10720905 c:OrdinaryShareClass1 2024-01-31 10720905 c:OrdinaryShareClass2 2023-02-01 2024-01-31 10720905 c:OrdinaryShareClass2 2024-01-31 10720905 c:OrdinaryShareClass3 2023-02-01 2024-01-31 10720905 c:OrdinaryShareClass3 2024-01-31 10720905 c:FRS102 2023-02-01 2024-01-31 10720905 c:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 10720905 c:FullAccounts 2023-02-01 2024-01-31 10720905 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10720905 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-02-01 2024-01-31 10720905 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-02-01 2023-01-31 10720905 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-01-31 10720905 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-01-31 10720905 6 2023-02-01 2024-01-31 10720905 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10720905










SRN ENTERPRISES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
SRN ENTERPRISES LIMITED
 
 
COMPANY INFORMATION


Director
S W Gray 




Registered number
10720905



Registered office
7 The Close

Norwich

NR1 4DJ




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
SRN ENTERPRISES LIMITED
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 9


 
SRN ENTERPRISES LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SRN ENTERPRISES LIMITED
FOR THE YEAR ENDED 31 JANUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SRN Enterprises Limited for the year ended 31 January 2024 which comprise  the Balance Sheet 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 at https://www.icaew.com /regulation.

This report is made solely to the director of SRN Enterprises Limited in accordance with the terms of our engagement letter dated 30 September 2021Our work has been undertaken solely to prepare for your approval the financial statements of SRN Enterprises Limited and state those matters that we have agreed to state to the director of SRN Enterprises Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SRN Enterprises Limited and its director for our work or for this report. 

It is your duty to ensure that SRN Enterprises 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 SRN Enterprises Limited. You consider that SRN Enterprises Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of SRN Enterprises 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.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
6 August 2024
Page 1

 
SRN ENTERPRISES LIMITED
REGISTERED NUMBER: 10720905

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Investments
 5 
206
206

Investment property
 9 
363,046
-

  
363,252
206

Current assets
  

Debtors: amounts falling due within one year
 6 
215,984
190,562

Cash at bank and in hand
  
4,898
65,368

  
220,882
255,930

Creditors: amounts falling due within one year
 7 
(2,364)
(15,947)

Net current assets
  
 
 
218,518
 
 
239,983

Total assets less current liabilities
  
581,770
240,189

Creditors: amounts falling due after more than one year
 10 
(190,550)
-

  

Net assets
  
391,220
240,189


Capital and reserves
  

Called up share capital 
 8 
265
265

Share premium account
  
17,946
17,946

Profit and loss account
  
373,009
221,978

  
391,220
240,189


Page 2

 
SRN ENTERPRISES LIMITED
REGISTERED NUMBER: 10720905
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 August 2024.




S W Gray
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
SRN ENTERPRISES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

SRN Enterprises Limited is a private company, limited by shares, incorporated and domiciled in England and Wales.  The registered office is 7 The Close, Norwich, NR1 4DJ.
The Company's principal activity is that of a holding company, and its activities are undertaken in Norwich.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue comprises income receivable from fixed asset investments, and rental income, and is recognised on an accruals basis in accordance with the date on which the dividends were declared, and rent receivable. 

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

Page 4

 
SRN ENTERPRISES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
SRN ENTERPRISES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Taxation



Factors affecting tax charge for the year

The Company has no income giving rise to corporation tax and therefore made a tax adjusted loss for the year. This loss has been carried forward for relief in future accounting periods (see below).


Factors that may affect future tax charges

At the balance sheet date, the Company had unutilised trading losses carried forward of £32,993 which can be offset against future taxable profits. No provision has been made for a deferred tax asset since the timing of its recovery is uncertain.


5.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Total

£
£
£



Cost


At 1 February 2023 and 31 January 2023
155
51
206





6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
129,868
162,492

Other debtors
80,677
28,070

Prepayments and accrued income
5,439
-

215,984
190,562


Page 6

 
SRN ENTERPRISES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
-
13,558

Accruals and deferred income
2,364
2,389

2,364
15,947



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



208 Ordinary A shares of £1.00 each
208
208
18 Ordinary B shares of £1.00 each
18
18
39 Ordinary C shares of £1.00 each
39
39

265

265



9.


Investment property


Freehold investment property

£



Valuation


Additions at cost
363,046



At 31 January 2024
363,046

The 2024 valuations were made by the director, on an open market value for existing use basis.







Page 7

 
SRN ENTERPRISES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
190,550
-

190,550
-


The following liabilities were secured:

2024
2023
£
£



Bank loans
190,550
-

190,550
-

Details of security provided:

The above bank loan is secured via a fixed charge over the assets of the Company.


11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
190,550
-

190,550
-

190,550
-


Page 8

 
SRN ENTERPRISES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

12.


Related party transactions

At the balance sheet date the Company was owed £52,413 by the director, and this is shown within other debtors on note 6 of the accounts.  In the previous year the company owed the director £13,558 .  This balance is interest free, repayable on demand and included within other creditors in note 7 to the financial statements.

Included within debtors in note 6 to the financial statements is an amount of £122,036 (2023 - £119,600) due to the Company from a non-wholly owned subsidiary.  This balance is interest free and has no set date for repayment.

The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102, not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year the Company received £228,706 (2023 - £170,309) from another company in which it holds a participating interest.  This income is included within investment income in the profit and loss account.

 
Page 9