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Registered number: 14335991
Serendib Ltd
Unaudited Financial Statements
For the Period 1 October 2023 to 31 December 2023
Passman Leonard Associates Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 14335991
31 December 2023 30 September 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 438,359 403,128
438,359 403,128
CURRENT ASSETS
Cash at bank and in hand 3,007 1,590
3,007 1,590
Creditors: Amounts Falling Due Within One Year 5 (198,578 ) (149,576 )
NET CURRENT ASSETS (LIABILITIES) (195,571 ) (147,986 )
TOTAL ASSETS LESS CURRENT LIABILITIES 242,788 255,142
Creditors: Amounts Falling Due After More Than One Year 6 (278,566 ) (278,566 )
NET LIABILITIES (35,778 ) (23,424 )
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account (35,780 ) (23,426 )
SHAREHOLDERS' FUNDS (35,778) (23,424)
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For the period ending 31 December 2023 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 N Balalle
Director
Mr P Kotalawela
Director
17 September 2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Serendib Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14335991 . The registered office is 6 Longcroft Lane, Welwyn Garden City, AL8 6EA.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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 Nil
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 October 2023 403,128
Additions 35,231
As at 31 December 2023 438,359
Net Book Value
As at 31 December 2023 438,359
As at 1 October 2023 403,128
The freehold property was revalued as at 31st December 2023, on an open market basis by the directors of the company. The historical cost of the property included at a valuation of £438,359 (September 2023- £403,128) was £438,359 (September 2023- £403,128).
5. Creditors: Amounts Falling Due Within One Year
31 December 2023 30 September 2023
£ £
Bank loans and overdrafts 16,494 16,494
Accruals and deferred income 1,440 1,140
Directors' loan accounts 180,644 131,942
198,578 149,576
The bank loan of £16,494 was secured by a fixed charge on the freehold property of the company. 
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6. Creditors: Amounts Falling Due After More Than One Year
31 December 2023 30 September 2023
£ £
Bank loans 278,566 278,566
The bank loan of £278,566 was secured by a fixed charge on the freehold property of the company. 
7. Share Capital
31 December 2023 30 September 2023
£ £
Allotted, Called up and fully paid 2 2
8. Ultimate Controlling Party
There is no controlling interest by virtue of the fact that no one shareholder owns more than 50% of the shares. 
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