Registered number
11334548
SERENITY ONE LTD
Filleted Accounts
31 March 2024
SERENITY ONE LTD
Registered number: 11334548
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 1
Tangible assets 4 1,396,277 1,435,860
Investments 5 125,000 125,000
1,521,277 1,560,861
Current assets
Debtors 6 229,043 27,497
Cash at bank and in hand 829,054 620,188
1,058,097 647,685
Creditors: amounts falling due within one year 7 (400,144) (348,150)
Net current assets 657,953 299,535
Total assets less current liabilities 2,179,230 1,860,396
Creditors: amounts falling due after more than one year 8 (712,645) (766,563)
Net assets 1,466,585 1,093,833
Capital and reserves
Called up share capital 300 300
Profit and loss account 1,466,285 1,093,533
Shareholders' funds 1,466,585 1,093,833
The directors are 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 directors acknowledge their 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.
Mrs Jayaben Varsani
Director
Approved by the board on 13 June 2024
SERENITY ONE LTD
Notes to the Accounts
for the year ended 31 March 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings 2% on cost
Fixtures, fittings, tools and equipment 20% on cost
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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 49 46
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 5
At 31 March 2024 5
Amortisation
At 1 April 2023 4
Provided during the year 1
At 31 March 2024 5
Net book value
At 31 March 2024 -
At 31 March 2023 1
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 1,492,000 160,074 1,652,074
At 31 March 2024 1,492,000 160,074 1,652,074
Depreciation
At 1 April 2023 116,504 99,710 216,214
Charge for the year 27,510 12,073 39,583
At 31 March 2024 144,014 111,783 255,797
Net book value
At 31 March 2024 1,347,986 48,291 1,396,277
At 31 March 2023 1,375,496 60,364 1,435,860
5 Investments
Other
investments
£
Cost
At 1 April 2023 125,000
At 31 March 2024 125,000
Historical cost
At 1 April 2023 125,000
At 31 March 2024 125,000
Other investments are investment properties. The fair value of the property at 31st March 2024 has been arrived at on the basis of a valuation carried out at that date by Mrs Varsani, a director of the company who is not a professionally qualified valuer. The valuation was arrived by reference to market evidence of transaction prices for similar properties in its location and takes into account the current state of rental market in the area where the properties are situated.
6 Debtors 2024 2023
£ £
Trade debtors 2,400 -
Other debtors 226,643 27,497
229,043 27,497
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 128,778 121,690
Trade creditors 17,693 26,255
Director's account 47,352 46,225
Taxation and social security costs 137,445 83,903
Other creditors 68,876 70,077
400,144 348,150
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 712,645 766,563
9 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 819,757 856,452
The bank loan is secured by fixed charge against the freehold property and other assets of the business.
10 Other information
SERENITY ONE LTD is a private company limited by shares and incorporated in England. Its registered office is:
18 The Broadway
East Lane
Wembley
Middlesex
HA9 8JU
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