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Registered number: 08753329
Serenity Consultancy (UK) Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
DKR Chartered Accountants
36 Lichfield Street
Walsall
West Midlands
WS1 1TJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08753329
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,314,340 1,255,863
1,314,340 1,255,863
CURRENT ASSETS
Investments 5 140 140
Cash at bank and in hand 11,329 8,540
11,469 8,680
Creditors: Amounts Falling Due Within One Year 6 (252,059 ) (283,219 )
NET CURRENT ASSETS (LIABILITIES) (240,590 ) (274,539 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,073,750 981,324
Creditors: Amounts Falling Due After More Than One Year 7 (623,301 ) (615,073 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (28,736 ) (15,574 )
NET ASSETS 421,713 350,677
CAPITAL AND RESERVES
Called up share capital 10 1 1
Fair Value Reserve 11 36,450 36,450
Profit and Loss Account 385,262 314,226
SHAREHOLDERS' FUNDS 421,713 350,677
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mohammed Yousaf
Director
25th October 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Serenity Consultancy (UK) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08753329 . The registered office is 767 The Big Peg 120 Vyse Street , Jewellery Quarter, Birmingham, West Midlands, B18 6NF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 25% Reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2022: 10)
8 10
4. Tangible Assets
Investment Properties Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 November 2022 1,174,090 51,728 50,707 24,330
Additions - 57,600 29,990 -
Disposals - (26,538 ) - -
As at 31 October 2023 1,174,090 82,790 80,697 24,330
Depreciation
As at 1 November 2022 - 22,913 22,185 6,723
Provided during the period - 3,109 14,629 2,641
Disposals - (18,449 ) - -
As at 31 October 2023 - 7,573 36,814 9,364
Net Book Value
As at 31 October 2023 1,174,090 75,217 43,883 14,966
As at 1 November 2022 1,174,090 28,815 28,522 17,607
Computer Equipment Total
£ £
Cost
As at 1 November 2022 11,983 1,312,838
Additions 1,416 89,006
Disposals - (26,538 )
As at 31 October 2023 13,399 1,375,306
Depreciation
As at 1 November 2022 5,154 56,975
...CONTINUED
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Page 5
Provided during the period 2,061 22,440
Disposals - (18,449 )
As at 31 October 2023 7,215 60,966
Net Book Value
As at 31 October 2023 6,184 1,314,340
As at 1 November 2022 6,829 1,255,863
5. Current Asset Investments
2023 2022
£ £
Shares in subsidiaries 140 140
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 21,417 14,593
Bank loans and overdrafts 34,994 23,233
Corporation tax 61,642 48,276
Other taxes and social security 11,080 50,834
Director's loan account 107,661 146,283
Amounts owed to associates 15,265 -
252,059 283,219
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 73,483 41,045
Bank loans 549,818 574,028
623,301 615,073
8. Secured Creditors
Of the creditors the following amounts are secured against the assets being financed. These are motor vehicles for the hire purchase creditor, and properties for the bank loans.
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 94,900 55,638
Bank loans and overdrafts 577,234 597,261
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 21,417 14,593
Later than one year and not later than five years 73,483 41,045
94,900 55,638
94,900 55,638
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10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
11. Reserves
Fair Value Reserve
£
As at 1 November 2022 36,450
As at 31 October 2023 36,450
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