Registration number:
Serqa Limited
for the Period from 1 January 2024 to 12 March 2024
Serqa Limited
(Registration number: 08206357)
Balance Sheet as at 12 March 2024
Note |
2024 |
2023 |
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net assets/(liabilities) |
|
( |
|
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Retained earnings |
7,700 |
(4,624,910) |
|
Shareholders' funds/(deficit) |
7,800 |
(4,624,810) |
For the financial period ending 12 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
......................................... |
Serqa Limited
Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 12 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
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.
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:
Serqa Limited
Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 12 March 2024
Asset class |
Depreciation method and rate |
Leasehold improvements |
3 years straight line |
Fixtures, fittings and equipment |
4 years straight line |
Computer equipment |
3 years straight line |
Motor vehicles |
5 years straight line |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Software |
4 years staright line |
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.
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Serqa Limited
Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 12 March 2024
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Intangible assets |
Goodwill |
Other intangible assets |
Total |
|
Cost or valuation |
|||
At 1 January 2024 |
|
|
|
At 12 March 2024 |
|
|
|
Amortisation |
|||
At 1 January 2024 |
|
|
|
At 12 March 2024 |
|
|
|
Carrying amount |
|||
At 12 March 2024 |
- |
- |
- |
Serqa Limited
Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 12 March 2024
Tangible assets |
Short leasehold land and buildings |
Fixtures and fittings |
Office equipment |
Motor vehicles |
Total |
|
Cost or valuation |
|||||
At 1 January 2024 |
|
|
|
|
|
At 12 March 2024 |
|
|
|
|
|
Depreciation |
|||||
At 1 January 2024 |
|
|
|
|
|
At 12 March 2024 |
|
|
|
|
|
Carrying amount |
|||||
At 12 March 2024 |
- |
- |
- |
- |
- |
Serqa Limited
Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 12 March 2024
Debtors |
Current |
2024 |
2023 |
Trade debtors |
- |
|
Prepayments |
- |
|
Other debtors |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
|
Due within one year |
|||
Trade creditors |
- |
|
|
Amounts owed to related parties |
- |
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
2024 |
2023 |
|
Not later than one year |
|
|
Later than one year and not later than five years |
|
|
|
|
Related party transactions |
Throughout the period the company was under the control of Coventbridge Group Limited. On 12th March 2024 the Coverntbridge Group agreed to waive any amounts owing to it and Serqa Limited was sold to its directors S Cook and N Talor for £1