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SEARCHARTER LTD

Registered Number
08606712
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

SEARCHARTER LTD
Company Information
for the year from 1 August 2022 to 31 July 2023

Director

BARISCIANO, Michele

Registered Address

Carpenter Court 1 Maple Road
Bramhall
Stockport
SK7 2DH

Registered Number

08606712 (England and Wales)
SEARCHARTER LTD
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors3114,771107,536
Cash at bank and on hand81,079151,039
195,850258,575
Creditors amounts falling due within one year4(120,713)(107,903)
Net current assets (liabilities)75,137150,672
Total assets less current liabilities75,137150,672
Provisions for liabilities5(60,969)(105,655)
Net assets14,16845,017
Capital and reserves
Called up share capital800800
Other reserves200200
Profit and loss account13,16844,017
Shareholders' funds14,16845,017
The financial statements were approved and authorised for issue by the Director on 30 January 2025, and are signed on its behalf by:
BARISCIANO, Michele
Director
Registered Company No. 08606712
SEARCHARTER LTD
Notes to the Financial Statements
for the year ended 31 July 2023

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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
At the year-end the Company had net assets of £14,168 (2022 net assets - £45,017). The director is confident that the Company is able to meet its liabilities as they fall due for a period of no less than 12 months from the date of approval of these financial statements. On this basis the director considers it appropriate that these financial statements are prepared on a going concern basis. In particular, the accounts include the allotment of a provision fund for flight cancellations in order to separate the net assets of the company from the amounts relating to tickets issued and subject to flight cancellation due to Covid, which can be either refunded to the passenger or transacted normally through a date change or issue of vouchers in the next months.
Revenue from sale of goods
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.
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.
2.Average number of employees
Including directors

20232022
Average number of employees during the year11
3.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables114,771107,536
Total114,771107,536
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.
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables111,97375,353
Taxation and social security2,8102,810
Other creditors52224,591
Accrued liabilities and deferred income5,4085,149
Total120,713107,903
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.
5.Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

2023

2022

££
Other provisions60,969105,655
Total60,969105,655