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REGISTERED NUMBER: 04142145 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

SEMS LIMITED

SEMS LIMITED (REGISTERED NUMBER: 04142145)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: N Sowerby





SECRETARY: Mrs L J Sowerby





REGISTERED OFFICE: 34 Woodstock Road
Barnsley
South Yorkshire
S75 1DU





REGISTERED NUMBER: 04142145 (England and Wales)





ACCOUNTANTS: Seaman Herbert & Co
36 - 40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL

SEMS LIMITED (REGISTERED NUMBER: 04142145)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 79,984 54,809

CURRENT ASSETS
Stocks 5 3,250 3,250
Debtors 6 199,488 233,933
Cash at bank and in hand 96,077 10,938
298,815 248,121
CREDITORS
Amounts falling due within one year 7 250,538 204,761
NET CURRENT ASSETS 48,277 43,360
TOTAL ASSETS LESS CURRENT
LIABILITIES

128,261

98,169

CREDITORS
Amounts falling due after more than one
year

8

(9,483

)

(16,653

)

PROVISIONS FOR LIABILITIES 10 (2,518 ) (3,584 )
NET ASSETS 116,260 77,932

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 116,160 77,832
SHAREHOLDERS' FUNDS 116,260 77,932

SEMS LIMITED (REGISTERED NUMBER: 04142145)

BALANCE SHEET - continued
31 JANUARY 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

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 Profit & Loss Account and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 October 2024 and were signed by:





N Sowerby - Director


SEMS LIMITED (REGISTERED NUMBER: 04142145)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

SEMS 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

SEMS LIMITED (REGISTERED NUMBER: 04142145)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Short Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 3,000 25,822 56,541 36,157 121,520
Additions - 451 44,030 1,081 45,562
Disposals - - (13,500 ) - (13,500 )
At 31 January 2024 3,000 26,273 87,071 37,238 153,582
DEPRECIATION
At 1 February 2023 1,200 22,283 16,564 26,664 66,711
Charge for year 150 540 7,464 3,003 11,157
Eliminated on disposal - - (4,270 ) - (4,270 )
At 31 January 2024 1,350 22,823 19,758 29,667 73,598
NET BOOK VALUE
At 31 January 2024 1,650 3,450 67,313 7,571 79,984
At 31 January 2023 1,800 3,539 39,977 9,493 54,809

5. STOCKS
2024 2023
£    £   
Stocks 3,250 3,250

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 86,939 103,938
Other debtors 30,562 28,740
Directors' current accounts 78,438 98,225
Prepayments 3,549 3,030
199,488 233,933

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 7,122 6,938
Trade creditors 15,459 7,205
Tax 97,165 76,265
Social security and other taxes 30,081 37,554
VAT 93,536 70,272
Accrued expenses 7,175 6,527
250,538 204,761

SEMS LIMITED (REGISTERED NUMBER: 04142145)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 9,483 16,653

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 7,122 6,938

Amounts falling due between one and two years:
Bank loans - 1-2 years 7,293 7,113

Amounts falling due between two and five years:
Bank loans - 2-5 years 2,190 9,540

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,518 3,584

Deferred
tax
£   
Balance at 1 February 2023 3,584
Provided during year (1,066 )
Balance at 31 January 2024 2,518

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
98 Ordinary £1 98 98
2 Ordinary B £1 2 2
100 100

SEMS LIMITED (REGISTERED NUMBER: 04142145)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
N Sowerby
Balance outstanding at start of year 98,225 119,810
Amounts repaid (58,225 ) (79,810 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 78,438 98,225

The director has provided a personal guarantee in favour of its bankers to secure the company's bank overdraft and loan.