Serendipity Shoes Limited 09483684 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the sale of womens clothing and shoes Digita Accounts Production Advanced 6.30.9574.0 true 09483684 2023-04-01 2024-03-31 09483684 2024-03-31 09483684 bus:OrdinaryShareClass1 2024-03-31 09483684 core:CurrentFinancialInstruments 2024-03-31 09483684 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09483684 core:FurnitureFittingsToolsEquipment 2024-03-31 09483684 bus:SmallEntities 2023-04-01 2024-03-31 09483684 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09483684 bus:FilletedAccounts 2023-04-01 2024-03-31 09483684 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09483684 bus:RegisteredOffice 2023-04-01 2024-03-31 09483684 bus:Director1 2023-04-01 2024-03-31 09483684 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 09483684 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09483684 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 09483684 countries:EnglandWales 2023-04-01 2024-03-31 09483684 2023-03-31 09483684 core:FurnitureFittingsToolsEquipment 2023-03-31 09483684 2022-04-01 2023-03-31 09483684 2023-03-31 09483684 bus:OrdinaryShareClass1 2023-03-31 09483684 core:CurrentFinancialInstruments 2023-03-31 09483684 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09483684 core:FurnitureFittingsToolsEquipment 2023-03-31 09483684 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09483684

Serendipity Shoes Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Serendipity Shoes Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Serendipity Shoes Limited

(Registration number: 09483684)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

96

186

Current assets

 

Stocks

70,434

79,400

Debtors

5

45

5,146

Cash at bank and in hand

 

11,169

29,988

 

81,648

114,534

Creditors: Amounts falling due within one year

6

(61,522)

(93,904)

Net current assets

 

20,126

20,630

Total assets less current liabilities

 

20,222

20,816

Provisions for liabilities

(715)

(715)

Net assets

 

19,507

20,101

Capital and reserves

 

Called up share capital

7

10

10

Retained earnings

19,497

20,091

Shareholders' funds

 

19,507

20,101

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 November 2024
 

.........................................
Ms F Thomas
Director

 

Serendipity Shoes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
21 North Street
Winchcombe
Cheltenham
Gloucestershire
GL54 5LH
England

These financial statements were authorised for issue by the director on 26 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Serendipity Shoes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Serendipity Shoes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Serendipity Shoes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

8,315

8,315

At 31 March 2024

8,315

8,315

Depreciation

At 1 April 2023

8,129

8,129

Charge for the year

90

90

At 31 March 2024

8,219

8,219

Carrying amount

At 31 March 2024

96

96

At 31 March 2023

186

186

5

Debtors

Current

2024
£

2023
£

Other debtors

45

5,146

 

45

5,146

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

4,741

4,911

Trade creditors

 

19,559

45,494

Taxation and social security

 

2,907

144

Accruals and deferred income

 

1,064

730

Other creditors

 

33,251

42,625

 

61,522

93,904

 

Serendipity Shoes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

4,741

4,911

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £100.00 (2023 - £400.00) per each Ordinary shares

1,000

4,000