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REGISTERED NUMBER: 11073297 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Separ International Ltd

Separ International Ltd (Registered number: 11073297)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Separ International Ltd

Company Information
for the year ended 31 December 2023







Directors: S J Smith
Mrs J E Smith





Registered office: Kemble House
Broad Street
Hereford
HR4 9AR





Registered number: 11073297 (England and Wales)





Auditors: Acre Accountancy Limited
Statutory Auditor
Certified Accountants
Unit 2 Foley Works
Foley Industrial Estate
Hereford
Herefordshire
HR1 2SF

Separ International Ltd (Registered number: 11073297)

Abridged Balance Sheet
31 December 2023

2023 2022
as restated
Notes £    £   
FIXED ASSETS
Tangible assets 5 2,583,466 19,447

CURRENT ASSETS
Debtors 2,427,419 6,516,124
Cash at bank 10,743,115 1,849,090
13,170,534 8,365,214
CREDITORS
Amounts falling due within one year (6,722,871 ) (4,470,111 )
NET CURRENT ASSETS 6,447,663 3,895,103
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,031,129

3,914,550

PROVISIONS FOR LIABILITIES (87,827 ) (4,862 )
NET ASSETS 8,943,302 3,909,688

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8,943,202 3,909,588
SHAREHOLDERS' FUNDS 8,943,302 3,909,688

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:





Mrs J E Smith - Director


Separ International Ltd (Registered number: 11073297)

Notes to the Financial Statements
for the year ended 31 December 2023


1. STATUTORY INFORMATION

Separ International Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going Concern

The company lost a major income stream in the final quarter of 2023 and the directors are taking steps to address this to replace lost revenues and cost reductions. As a consequence the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis of accounting in the preparation of the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
Impairment of plant and machinery
During the year the company acquired plant and machinery. The directors consider the current value in use of this plant to be negligible and significantly lower than the book value. As a result a provision for impairment has been provided in these accounts based on the estimated realisable values.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is recognised upon project delivery.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance and 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Separ International Ltd (Registered number: 11073297)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 14 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
Cost
At 1 January 2023 22,510
Additions 2,914,780
At 31 December 2023 2,937,290
Depreciation
At 1 January 2023 3,063
Charge for year 118,181
Impairments 232,580
At 31 December 2023 353,824
Net book value
At 31 December 2023 2,583,466
At 31 December 2022 19,447

The company bought and developed a building during the year. As the development was not complete or brought into use by the year end, no depreciation has been charged.

Separ International Ltd (Registered number: 11073297)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
as restated
£    £   
Within one year 66,037 71,765
Between one and five years - 5,728
66,037 77,493

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: as restated
£    £   
100 Ordinary £1 100 100

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Russell Spencer (Senior Statutory Auditor)
for and on behalf of Acre Accountancy Limited

9. RELATED PARTY DISCLOSURES

During the year the company made the following purchases with overseas companies under common control of the directors:

2023 2022
£ £

Name of company Type of transaction

Separ International Limited Logistics and expenses 2,925,331 1,372,990
(A company registered in Afghanistan)

Separ Travel Services International Plant and equipment 619,420 0
(A company registered in Pakistan) Logistics and expenses 9,501,654 669,388