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SERENITY ACCOUNTS LTD

Registered Number
14463945
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2024

SERENITY ACCOUNTS LTD
Company Information
for the year from 1 December 2023 to 30 November 2024

Director

SYMONS, Benjamin David

Registered Address

124 City Road
London
EC1V 2NX

Registered Number

14463945 (England and Wales)
SERENITY ACCOUNTS LTD
Statement of Financial Position
30 November 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets331,66735,667
Tangible assets4330598
Investments5-5
31,99736,270
Current assets
Stocks6635-
Debtors1,188753
Cash at bank and on hand4,0241,192
5,8471,945
Creditors amounts falling due within one year7(29,705)(33,297)
Net current assets (liabilities)(23,858)(31,352)
Total assets less current liabilities8,1394,918
Net assets8,1394,918
Capital and reserves
Called up share capital11
Profit and loss account8,1384,917
Shareholders' funds8,1394,918
The financial statements were approved and authorised for issue by the Director on 16 January 2025, and are signed on its behalf by:
SYMONS, Benjamin David
Director
Registered Company No. 14463945
SERENITY ACCOUNTS LTD
Notes to the Financial Statements
for the year ended 30 November 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Fixtures and fittings4
Office Equipment3
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 December 2340,00040,000
At 30 November 2440,00040,000
Amortisation and impairment
At 01 December 234,3334,333
Charge for year4,0004,000
At 30 November 248,3338,333
Net book value
At 30 November 2431,66731,667
At 30 November 2335,66735,667
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 December 23271600871
At 30 November 24271600871
Depreciation and impairment
At 01 December 2356217273
Charge for year68200268
At 30 November 24124417541
Net book value
At 30 November 24147183330
At 30 November 23215383598
5.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 December 2355
Disposals(5)(5)
Net book value
At 30 November 24--
At 30 November 2355

Notes

1Other investments other than loans
6.Stocks

2024

2023

££
Work in progress635-
Total635-
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables8091,324
Taxation and social security4,9902,171
Other creditors10,97520,869
Accrued liabilities and deferred income12,9318,933
Total29,70533,297