IRIS Accounts Production v24.2.0.383 09483719 director 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh094837192023-03-31094837192024-03-31094837192023-04-012024-03-31094837192022-03-31094837192022-04-012023-03-31094837192023-03-3109483719ns15:EnglandWales2023-04-012024-03-3109483719ns14:PoundSterling2023-04-012024-03-3109483719ns10:Director12023-04-012024-03-3109483719ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3109483719ns10:SmallEntities2023-04-012024-03-3109483719ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3109483719ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3109483719ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3109483719ns10:FullAccounts2023-04-012024-03-3109483719ns10:RegisteredOffice2023-04-012024-03-3109483719ns5:CurrentFinancialInstruments2024-03-3109483719ns5:CurrentFinancialInstruments2023-03-3109483719ns5:Non-currentFinancialInstruments2024-03-3109483719ns5:Non-currentFinancialInstruments2023-03-3109483719ns5:ShareCapital2024-03-3109483719ns5:ShareCapital2023-03-3109483719ns5:RevaluationReserve2024-03-3109483719ns5:RevaluationReserve2023-03-3109483719ns5:RetainedEarningsAccumulatedLosses2024-03-3109483719ns5:RetainedEarningsAccumulatedLosses2023-03-3109483719ns5:UnlistedNon-exchangeTradedns5:CostValuation2023-03-3109483719ns5:ForeignExchangeDifferencesIncreaseDecreaseInInvestmentsns5:UnlistedNon-exchangeTraded2024-03-3109483719ns5:UnlistedNon-exchangeTradedns5:CostValuation2024-03-3109483719ns5:UnlistedNon-exchangeTraded2024-03-3109483719ns5:UnlistedNon-exchangeTraded2023-03-3109483719ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3109483719ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3109483719ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-03-3109483719ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-3109483719ns5:Secured2024-03-3109483719ns5:Secured2023-03-3109483719ns5:DeferredTaxation2023-04-012024-03-3109483719ns5:DeferredTaxation2024-03-3109483719ns5:RetainedEarningsAccumulatedLosses2023-03-3109483719ns5:RevaluationReserve2023-03-3109483719ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31
REGISTERED NUMBER: 09483719 (England and Wales)










Financial Statements

for the Year Ended 31 March 2024

for

Serius Developments Limited

Serius Developments Limited (Registered number: 09483719)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Serius Developments Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: D Kavleiskij





REGISTERED OFFICE: RJA House
Manby Road
Immingham
North East Lincolnsh
DN40 2DW





REGISTERED NUMBER: 09483719 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Suite 32/33 Normany Gateway,
Lysaghts Way,
Scunthorpe
North Lincolnshire
DN15 9YG

Serius Developments Limited (Registered number: 09483719)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investments 4 214 222
Investment property 5 1,500,000 1,167,477
1,500,214 1,167,699

CURRENT ASSETS
Debtors 6 64,183 63,510
Cash at bank 101,639 165,166
165,822 228,676
CREDITORS
Amounts falling due within one year 7 (536,238 ) (576,932 )
NET CURRENT LIABILITIES (370,416 ) (348,256 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,129,798

819,443

CREDITORS
Amounts falling due after more than one year 8 (97,718 ) (211,266 )

PROVISIONS FOR LIABILITIES 10 (63,179 ) -
NET ASSETS 968,901 608,177

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 11 269,344 -
Retained earnings 11 699,457 608,077
968,901 608,177

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Serius Developments Limited (Registered number: 09483719)

Balance Sheet - continued
31 March 2024


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 director and authorised for issue on 26 September 2024 and were signed by:





D Kavleiskij - Director


Serius Developments Limited (Registered number: 09483719)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Serius Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Serius Developments Limited (Registered number: 09483719)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 April 2023 222
Exchange differences (8 )
At 31 March 2024 214
NET BOOK VALUE
At 31 March 2024 214
At 31 March 2023 222

5. INVESTMENT PROPERTY

Properties are required to be disclosed within the financial statements at fair value.

The revaluation was carried out by independent qualified commercial property consultants. Deferred tax has been calculated on the revalued amounts and provided for within the financial statements.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 332,523
Cost 1,167,477
1,500,000

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other loans-less than 1 year 11,128 -
Tax - 9,332
Prepayments and accrued income 53,055 42,614
64,183 51,946

Amounts falling due after more than one year:
Other loans - 11,564

Aggregate amounts 64,183 63,510

Serius Developments Limited (Registered number: 09483719)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 14,224 25,333
Trade creditors 31,229 25,854
Corporation tax 27,845 -
VAT 18,975 24,034
Other creditors 434,463 500,463
Pension fund 34 34
Accrued expenses 2,539 1,214
Income received in advance 6,929 -
536,238 576,932

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loan more than one year 97,718 211,266

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 111,942 236,599

The loans are secured by means of registered charges against the freehold property of the company.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 63,179 -

Deferred
tax
£   
Provided during year 63,179
Balance at 31 March 2024 63,179

Serius Developments Limited (Registered number: 09483719)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 608,077 - 608,077
Profit for the year 360,724 360,724
Revaluation of tangible
fixed assets - 269,344 269,344
Revaluation of tangible
fixed assets (269,344 ) - (269,344 )
At 31 March 2024 699,457 269,344 968,801

PROFIT AND LOSS RESERVES

The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

FAIR VALUE RESERVES

The Company uses the revaluation model for the measurement of its investment properties. The reserve records the revaluation surplus recognised less the related provision for deferred tax. This is a non distributable reserve.