Registered number
10726631
SERRA CONSULTANCY SERVICES LTD
Filleted Accounts
29 February 2024
SERRA CONSULTANCY SERVICES LTD
Registered number: 10726631
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 38,305 10,255
Current assets
Debtors 4 32,308 9,900
Investments held as current assets 5 40,000 -
Cash at bank and in hand 4,461 27,310
76,769 37,210
Creditors: amounts falling due within one year 6 (39,997) (15,817)
Net current assets 36,772 21,393
Net assets 75,077 31,648
Capital and reserves
Called up share capital 100 100
Profit and loss account 74,977 31,548
Shareholders' funds 75,077 31,648
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Omer Faruk Sen
Director
Approved by the board on 27 October 2024
SERRA CONSULTANCY SERVICES LTD
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
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 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings NIL
Plant and machinery 25% reducing balance
Motor vehicle 25% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 4,100 9,981 - 14,081
Additions - 855 29,860 30,715
At 29 February 2024 4,100 10,836 29,860 44,796
Depreciation
At 1 March 2023 - 3,826 - 3,826
Charge for the year - 2,167 498 2,665
At 29 February 2024 - 5,993 498 6,491
Net book value
At 29 February 2024 4,100 4,843 29,362 38,305
At 28 February 2023 4,100 6,155 - 10,255
4 Debtors 2024 2023
£ £
Trade debtors 3,168 -
Other debtors 29,140 9,900
32,308 9,900
5 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 40,000 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 21
Trade creditors 6,489 530
Taxation and social security costs 32,508 14,181
Other creditors 1,000 1,085
39,997 15,817
7 Other information
SERRA CONSULTANCY SERVICES LTD is a private company limited by shares and incorporated in England. Its registered office is:
3rd Floor
86-90 Paul Street
London
EC2A 4NE
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