Registered number
12255523
Sears Contract Management Ltd
Filleted Accounts
31 October 2023
Sears Contract Management Ltd
Registered number: 12255523
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,880 3,840
Current assets
Debtors 4 77,064 54,986
Cash at bank and in hand 99 5,106
77,163 60,092
Creditors: amounts falling due within one year 5 (41,798) (33,487)
Net current assets 35,365 26,605
Total assets less current liabilities 38,245 30,445
Creditors: amounts falling due after more than one year 6 (26,662) (30,417)
Net assets 11,583 28
Capital and reserves
Called up share capital 1 1
Profit and loss account 11,582 27
Shareholder's funds 11,583 28
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 his 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.
…………………………………………..
T V Sears
Director
Approved by the board on 30 August 2024
Sears Contract Management Ltd
Notes to the Accounts
for the year ended 31 October 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:
Fixtures, fittings, tools and equipment 25% Reducing balance
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 8,575
At 31 October 2023 8,575
Depreciation
At 1 November 2022 4,735
Charge for the year 960
At 31 October 2023 5,695
Net book value
At 31 October 2023 2,880
At 31 October 2022 3,840
4 Debtors 2023 2022
£ £
Trade debtors 30,128 6,564
Directors' loan 34,466 36,545
Other debtors 12,470 11,877
77,064 54,986
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,295 5,000
Trade creditors 1,248 6,120
Taxation and social security costs 33,985 21,158
Other creditors 1,270 1,209
41,798 33,487
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 26,662 30,417
7 Other information
Sears Contract Management Ltd is a private company limited by shares and incorporated in England. Its registered office is:
126 Soulbury Road
Leighton Buzzard
Bedfordshire
LU7 2RW
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