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Registered Number: 13781198
England and Wales

 

 

 

SERENDIPITY11 LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Directors Sudaba Rasouli
Aaliyah Wainwright
Gaurav Singh
Registered Number 13781198
Registered Office 6-7 Waterside
Station Road
Harpenden
Hertfordshire
AL5 4US
Accountants Cubed Consultancy Limited
6-7 Waterside
Station Road
Harpenden
Hertfordshire
AL5 4US
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 100    100 
Tangible fixed assets 4 526,353    4,144 
526,453    4,244 
Current assets      
Stocks 5 206,000    131,659 
Debtors 6 277,831    270,756 
Cash at bank and in hand 1,080,450    939,110 
1,564,281    1,341,525 
Creditors: amount falling due within one year 7 (960,578)   (699,295)
Net current assets 603,703    642,230 
 
Total assets less current liabilities 1,130,156    646,474 
Provisions for liabilities 8 (36,748)  
Net assets 1,093,408    646,474 
 

Capital and reserves
     
Called up share capital 9 120    120 
Profit and loss account 1,093,288    646,354 
Shareholders' funds 1,093,408    646,474 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 04 September 2024 and were signed on its behalf by:


-------------------------------
Sudaba Rasouli
Director
-------------------------------
Aaliyah Wainwright
Director
-------------------------------
Gaurav Singh
Director
2
General Information
Serendipity11 Ltd is a private company, limited by shares, registered in England and Wales, registration number 13781198, registration address 6-7 Waterside, Station Road, Harpenden, Hertfordshire, AL5 4US.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Licences and patents
Licences and patents are stated at cost less amortisation. Amortisation of licences is calculated on a straight line basis over the life of the licence. Amortisation of patents is calculated on a straight line basis over the estimated expected useful economic life of the patents of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 4 Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 5 (2022 : 0).
3.

Intangible fixed assets

Cost Patents   Total
  £   £
At 01 January 2023  
Additions 100    100 
Disposals  
At 31 December 2023 100    100 
Amortisation
At 01 January 2023  
Charge for year  
On disposals  
At 31 December 2023  
Net book values
At 31 December 2023 100    100 
At 31 December 2022  


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 January 2023      
Additions 34,000    462,635    38,680    535,315 
Disposals      
At 31 December 2023 34,000    462,635    38,680    535,315 
Depreciation
At 01 January 2023      
Charge for year 336    3,855    4,771    8,962 
On disposals      
At 31 December 2023 336    3,855    4,771    8,962 
Net book values
Closing balance as at 31 December 2023 33,664    458,780    33,909    526,353 
Opening balance as at 01 January 2023     4,144    4,144 


5.

Stocks

2023
£
  2022
£
Stocks 206,000    131,659 
206,000    131,659 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 18,344    179,063 
Other Debtors 259,487    91,693 
277,831    270,756 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 683,976    354,218 
Taxation and Social Security 192,873    144,292 
Other Creditors 83,729    200,785 
960,578    699,295 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 36,748   
36,748   

9.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
120 Ordinary shares of £1.00 each 120    120 
120    120 

3