Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 04778639 Mrs Serena Johnson Mr Ian Johnson Mrs Serena Johnson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04778639 2023-05-31 04778639 2024-05-31 04778639 2023-06-01 2024-05-31 04778639 frs-core:CurrentFinancialInstruments 2024-05-31 04778639 frs-core:Non-currentFinancialInstruments 2024-05-31 04778639 frs-core:FurnitureFittings 2024-05-31 04778639 frs-core:FurnitureFittings 2023-06-01 2024-05-31 04778639 frs-core:FurnitureFittings 2023-05-31 04778639 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 04778639 frs-core:MotorVehicles 2024-05-31 04778639 frs-core:MotorVehicles 2023-06-01 2024-05-31 04778639 frs-core:MotorVehicles 2023-05-31 04778639 frs-core:ShareCapital 2024-05-31 04778639 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 04778639 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04778639 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 04778639 frs-bus:SmallEntities 2023-06-01 2024-05-31 04778639 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 04778639 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 04778639 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-05-31 04778639 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-05-31 04778639 frs-core:ListedExchangeTraded 2024-05-31 04778639 frs-core:ListedExchangeTraded 2023-05-31 04778639 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-05-31 04778639 frs-core:AdditionsToInvestments frs-core:ListedExchangeTraded 2024-05-31 04778639 frs-core:DisposalsRepaymentsInvestments frs-core:ListedExchangeTraded 2024-05-31 04778639 frs-core:RevaluationsIncreaseDecreaseInInvestments frs-core:ListedExchangeTraded 2024-05-31 04778639 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-05-31 04778639 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-05-31 04778639 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-05-31 04778639 frs-bus:Director1 2023-06-01 2024-05-31 04778639 frs-bus:Director2 2023-06-01 2024-05-31 04778639 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 04778639 frs-core:CurrentFinancialInstruments 2 2024-05-31 04778639 frs-countries:EnglandWales 2023-06-01 2024-05-31 04778639 2022-05-31 04778639 2023-05-31 04778639 2022-06-01 2023-05-31 04778639 frs-core:CurrentFinancialInstruments 2023-05-31 04778639 frs-core:Non-currentFinancialInstruments 2023-05-31 04778639 frs-core:ShareCapital 2023-05-31 04778639 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 04778639 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-05-31 04778639 frs-core:CurrentFinancialInstruments 2 2023-05-31
Registered number: 04778639
Serian Properties Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Shore Accounting Ltd
Broadway Court Brighton Road
Lancing
West Sussex
BN15 8JT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04778639
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 42,910 331
Investment Properties 5 3,705,000 6,274,500
Investments 6 1,415,798 -
5,163,708 6,274,831
CURRENT ASSETS
Debtors 7 191,285 158,026
Cash at bank and in hand 488,868 275,869
680,153 433,895
Creditors: Amounts Falling Due Within One Year 8 (116,378 ) (121,005 )
NET CURRENT ASSETS (LIABILITIES) 563,775 312,890
TOTAL ASSETS LESS CURRENT LIABILITIES 5,727,483 6,587,721
Creditors: Amounts Falling Due After More Than One Year 9 (794,773 ) (1,591,599 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (31,958 ) (40,000 )
NET ASSETS 4,900,752 4,956,122
CAPITAL AND RESERVES
Called up share capital 10 2 2
Fair Value Reserve 11 1,091,000 1,691,500
Profit and Loss Account 3,809,750 3,264,620
SHAREHOLDERS' FUNDS 4,900,752 4,956,122
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ian Johnson
Director
20/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Serian Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04778639 . The registered office is 39 Alleyn Road, Dulwich, London, Greater London, SE21 8AD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not depreciated
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2023 - 44,518 44,518
Additions 56,882 - 56,882
As at 31 May 2024 56,882 44,518 101,400
Depreciation
As at 1 June 2023 - 44,187 44,187
Provided during the period 14,220 83 14,303
As at 31 May 2024 14,220 44,270 58,490
Net Book Value
As at 31 May 2024 42,662 248 42,910
As at 1 June 2023 - 331 331
5. Investment Property
2024
£
Fair Value
As at 1 June 2023 6,274,500
Disposals (2,569,500 )
As at 31 May 2024 3,705,000
6. Investments
Listed
£
Cost
As at 1 June 2023 -
Additions 1,685,823
Disposals (295,252 )
Revaluations 25,227
As at 31 May 2024 1,415,798
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 1,415,798
As at 1 June 2023 -
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 16,775 5,600
Prepayments and accrued income 5,925 21,526
Linenshack Limited 126,793 126,793
Other debtor amounts 41,792 4,107
191,285 158,026
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts - 92,000
Corporation tax 54,773 18,786
Other taxes and social security 1,915 1,175
VAT 2,217 5,782
Accruals and deferred income 1,463 2,733
Directors' loan accounts 56,010 529
116,378 121,005
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 794,773 1,591,599
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Reserves
Fair Value Reserve
£
As at 1 June 2023 1,691,500
Movements in fair value reserve (600,500)
As at 31 May 2024 1,091,000
Page 5