Company registration number 04626386 (England and Wales)
SENEX LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
SENEX LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SENEX LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
21,000
42,000
Tangible assets
4
368,626
293,593
389,626
335,593
Current assets
Debtors
5
349,081
354,458
Cash at bank and in hand
9,813
28,172
358,894
382,630
Creditors: amounts falling due within one year
6
(65,385)
(86,385)
Net current assets
293,509
296,245
Total assets less current liabilities
683,135
631,838
Creditors: amounts falling due after more than one year
7
(105,922)
(23,333)
Net assets
577,213
608,505
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
577,113
608,405
Total equity
577,213
608,505
The notes on pages 3 to 6 form part of these financial statements.
SENEX LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
For the financial year ended 31 January 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 29 October 2024 and are signed on its behalf by:
Mr A F Hammond
Director
Company registration number 04626386 (England and Wales)
SENEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information
Senex Limited is a private company limited by shares incorporated in England and Wales. The registered office is 88 Hill Village Road, Sutton Coldfield, West Midlands, England, B75 5BE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts received in respect of services provided.
1.3
Intangible fixed assets - goodwill
Goodwill is being amortised over 10 years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
not provided
Leasehold improvements
5% on cost
Plant and equipment
15% on reducing balance
Fixtures and fittings
15% on reducing balance
Computers
33% on cost
Motor vehicles
25% on reducing balance
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
SENEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Retirement benefits
Payments to defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss for the period to which they relate.
1.7
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
1.8
Hire purchase and leasing commitents
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
44
43
SENEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 February 2023 and 31 January 2024
400,000
Amortisation and impairment
At 1 February 2023
358,000
Amortisation charged for the year
21,000
At 31 January 2024
379,000
Carrying amount
At 31 January 2024
21,000
At 31 January 2023
42,000
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2023
542,865
234,992
777,857
Additions
126,393
126,393
At 31 January 2024
542,865
361,385
904,250
Depreciation and impairment
At 1 February 2023
289,123
195,141
484,264
Depreciation charged in the year
26,862
24,498
51,360
At 31 January 2024
315,985
219,639
535,624
Carrying amount
At 31 January 2024
226,880
141,746
368,626
At 31 January 2023
253,742
39,851
293,593
Included in the cost of land and buildings is freehold land of £5,442 (2023: £5,442) which is not depreciated.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
349,081
354,458
SENEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
4,710
4,622
Taxation and social security
26,614
52,501
Other creditors
24,061
19,262
65,385
86,385
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
13,333
23,333
Other creditors
92,589
105,922
23,333
Included within creditors are secured debts for hire purchase contracts of £102,783 (2023: £nil).
The hire purchase contact is secured over the asset concerned.
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
9
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
DLA
-
289,440
332,696
(338,072)
284,064
289,440
332,696
(338,072)
284,064