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REGISTERED NUMBER: 13992218 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SERENDIB LETTINGS LTD

SERENDIB LETTINGS LTD (REGISTERED NUMBER: 13992218)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


SERENDIB LETTINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mrs N Krishnamoorthy





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 13992218 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

SERENDIB LETTINGS LTD (REGISTERED NUMBER: 13992218)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,174 2,899
Investment property 5 263,015 250,000
265,189 252,899

CURRENT ASSETS
Cash at bank and in hand 661 511

CREDITORS
Amounts falling due within one year 6 99,650 99,688
NET CURRENT LIABILITIES (98,989 ) (99,177 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

166,200

153,722

CREDITORS
Amounts falling due after more than one
year

7

174,495

174,495
NET LIABILITIES (8,295 ) (20,773 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (8,395 ) (20,873 )
(8,295 ) (20,773 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 November 2024 and were signed by:





Mrs N Krishnamoorthy - Director


SERENDIB LETTINGS LTD (REGISTERED NUMBER: 13992218)

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

1. STATUTORY INFORMATION

Serendib Lettings Ltd 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 as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

TURNOVER
Turnover represents net rent receivable.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

INVESTMENT PROPERTY
Investment property is carried at fair value. Revaluation surpluses are recognised in the income statement.
Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No
depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in The Financial Reporting Standard 102 (Section 1A) for small entities. The director considers that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt The Financial Reporting Standard 102 (Section 1A) for Smaller Entities in order to give a true and fair view. If this departure from the Act had not been made, the profit for the financial year would have been reduced by the amount of depreciation.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

SERENDIB LETTINGS LTD (REGISTERED NUMBER: 13992218)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 3,865
DEPRECIATION
At 1 April 2023 966
Charge for year 725
At 31 March 2024 1,691
NET BOOK VALUE
At 31 March 2024 2,174
At 31 March 2023 2,899

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 250,000
Revaluations 13,015
At 31 March 2024 263,015
NET BOOK VALUE
At 31 March 2024 263,015
At 31 March 2023 250,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 13,015
Valuation in 2023 (13,015 )
Cost 263,015
263,015

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 263,015 263,015

Investment property was valued on a fair value basis on 31 March 2024 by the director .

The investment property represent the director's valuation at the financial year end.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 99,650 99,688

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 174,495 174,495

SERENDIB LETTINGS LTD (REGISTERED NUMBER: 13992218)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 174,495 174,495

The loan is secured by way of fixed and floating legal charge on the investment property of the company.

9. RELATED PARTY DISCLOSURES

Included in creditors amounts falling due within one year is an interest free loan of £98,090 (2023: £98,038) due to the director of company..

10. CONTROLLING PARTY

The controlling party is Mrs N Krishnamoorthy.