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REGISTERED NUMBER: 10210575 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Sertus Limited

Sertus Limited (Registered number: 10210575)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Sertus Limited (Registered number: 10210575)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 131,670 307,230
Tangible assets 5 268,372 281,822
400,042 589,052

CURRENT ASSETS
Stocks 529,169 639,304
Debtors 6 1,087,112 1,252,792
Cash at bank 683,466 294,954
2,299,747 2,187,050
CREDITORS
Amounts falling due within one year 7 (1,298,545 ) (1,131,057 )
NET CURRENT ASSETS 1,001,202 1,055,993
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,401,244

1,645,045

CREDITORS
Amounts falling due after more than one
year

8

(846,409

)

(1,117,577

)

PROVISIONS FOR LIABILITIES (38,206 ) (37,230 )
NET ASSETS 516,629 490,238

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 516,628 490,237
SHAREHOLDERS' FUNDS 516,629 490,238

Sertus Limited (Registered number: 10210575)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 28 June 2024 and were signed on its behalf by:





Mr S L White - Director


Sertus Limited (Registered number: 10210575)

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

1. STATUTORY INFORMATION

Sertus Limited is a private company, limited by shares, registered in England and Wales, registration number 10210575. The registered office is Europa House, Alfold Road, Cranleigh, Surrey, United Kingdom, GU6 8NQ.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group members..

Turnover
Turnover represents net invoiced sales of goods and services in respect of manufacture and supply of advanced smoke extraction and ventilation systems, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of six years.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 30% on cost, 25% on reducing balance, 20% on cost and 15% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.


Sertus Limited (Registered number: 10210575)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 1,009,470
AMORTISATION
At 1 January 2023 702,240
Charge for year 175,560
At 31 December 2023 877,800
NET BOOK VALUE
At 31 December 2023 131,670
At 31 December 2022 307,230

Sertus Limited (Registered number: 10210575)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 161,378 277,722 439,100
Additions - 40,608 40,608
At 31 December 2023 161,378 318,330 479,708
DEPRECIATION
At 1 January 2023 17,468 139,810 157,278
Charge for year 8,070 45,988 54,058
At 31 December 2023 25,538 185,798 211,336
NET BOOK VALUE
At 31 December 2023 135,840 132,532 268,372
At 31 December 2022 143,910 137,912 281,822

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Land and
buildings
£   
COST
At 1 January 2023
and 31 December 2023 42,992
DEPRECIATION
At 1 January 2023 1,433
Charge for year 2,150
At 31 December 2023 3,583
NET BOOK VALUE
At 31 December 2023 39,409
At 31 December 2022 41,559

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 992,538 1,100,721
Other debtors 94,574 152,071
1,087,112 1,252,792

Sertus Limited (Registered number: 10210575)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts 14,331 14,331
Trade creditors 483,253 442,932
Amounts owed to group undertakings - 256,781
Taxation and social security 290,617 262,613
Other creditors 460,344 104,400
1,298,545 1,131,057

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 91,656 141,661
Hire purchase contracts 4,753 19,108
Amounts owed to group undertakings - 956,808
Other creditors 750,000 -
846,409 1,117,577

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 19,084 33,439

Hire purchase contracts are secured on the assets to which they relate.

10. ULTIMATE PARENT ENTITY

The ultimate controlling party is Sertus Group Limited. Sertus Group Limited is registered in England under registration number 13813443. The registered office is Europa House, Alfold Road, Cranleigh, Surrey, GU6 8NQ.