Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30true2023-07-01falseNo description of principal activity128128trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07631729 2023-07-01 2024-06-30 07631729 2022-07-01 2023-06-30 07631729 2024-06-30 07631729 2023-06-30 07631729 c:Director1 2023-07-01 2024-06-30 07631729 d:PlantMachinery 2023-07-01 2024-06-30 07631729 d:PlantMachinery 2024-06-30 07631729 d:PlantMachinery 2023-06-30 07631729 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07631729 d:MotorVehicles 2023-07-01 2024-06-30 07631729 d:MotorVehicles 2024-06-30 07631729 d:MotorVehicles 2023-06-30 07631729 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07631729 d:FurnitureFittings 2023-07-01 2024-06-30 07631729 d:FurnitureFittings 2024-06-30 07631729 d:FurnitureFittings 2023-06-30 07631729 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07631729 d:OfficeEquipment 2023-07-01 2024-06-30 07631729 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07631729 d:Goodwill 2023-07-01 2024-06-30 07631729 d:Goodwill 2024-06-30 07631729 d:Goodwill 2023-06-30 07631729 d:CurrentFinancialInstruments 2024-06-30 07631729 d:CurrentFinancialInstruments 2023-06-30 07631729 d:Non-currentFinancialInstruments 2024-06-30 07631729 d:Non-currentFinancialInstruments 2023-06-30 07631729 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 07631729 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07631729 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 07631729 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 07631729 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 07631729 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 07631729 d:ShareCapital 2024-06-30 07631729 d:ShareCapital 2023-06-30 07631729 d:RetainedEarningsAccumulatedLosses 2024-06-30 07631729 d:RetainedEarningsAccumulatedLosses 2023-06-30 07631729 c:FRS102 2023-07-01 2024-06-30 07631729 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 07631729 c:FullAccounts 2023-07-01 2024-06-30 07631729 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07631729 2 2023-07-01 2024-06-30 07631729 6 2023-07-01 2024-06-30 07631729 d:Goodwill d:OwnedIntangibleAssets 2023-07-01 2024-06-30 07631729 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 07631729









SERNA LONDON LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
SERNA LONDON LTD
REGISTERED NUMBER: 07631729

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Intangible assets
 4 
20,300
23,200

Tangible assets
 5 
9,337
9,133

Investments
 6 
50,050
50,000

  
79,687
82,333

Current assets
  

Stocks
  
10,000
10,000

Debtors: amounts falling due within one year
 7 
613,796
566,522

Cash at bank and in hand
 8 
864
121,156

  
624,660
697,678

Creditors: amounts falling due within one year
 9 
(446,137)
(551,604)

Net current assets
  
 
 
178,523
 
 
146,074

Total assets less current liabilities
  
258,210
228,407

Creditors: amounts falling due after more than one year
 10 
(168,051)
(119,404)

  

Net assets
  
90,159
109,003


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
90,059
108,903

Total equity
  
90,159
109,003


Page 1

 
SERNA LONDON LTD
REGISTERED NUMBER: 07631729
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
M P Serna
Director

Date: 24 March 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
SERNA LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Serna London Limited is a private company limited by shares. The Company is incorporated in England and Wales and the address of its registered office is 85-87 Bayham Street, London, NW1 0AG. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
SERNA LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
SERNA LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
straight line
Motor vehicles
-
20%
reducing balance
Office equipment
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
SERNA LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6

 
SERNA LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 128 (2023 - 128).


4.


Intangible assets




Goodwill

£



Cost


At 1 July 2023
58,000



At 30 June 2024

58,000



Amortisation


At 1 July 2023
34,800


Charge for the year on owned assets
2,900



At 30 June 2024

37,700



Net book value



At 30 June 2024
20,300



At 30 June 2023
23,200



Page 7

 
SERNA LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 July 2023
1,667
22,989
24,940
49,596


Additions
233
-
2,937
3,170



At 30 June 2024

1,900
22,989
27,877
52,766



Depreciation


At 1 July 2023
667
14,858
24,939
40,464


Charge for the year on owned assets
30
1,626
1,309
2,965



At 30 June 2024

697
16,484
26,248
43,429



Net book value



At 30 June 2024
1,203
6,505
1,629
9,337



At 30 June 2023
1,000
8,132
1
9,133


6.


Fixed asset investments





Investments in associates
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 July 2023
-
50,000
50,000


Additions
50
-
50



At 30 June 2024
50
50,000
50,050




Page 8

 
SERNA LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Debtors

2024
2023
£
£


Trade debtors
513,260
481,028

Other debtors
94,311
85,494

Prepayments and accrued income
6,225
-

613,796
566,522



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
864
121,156



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
8,000
8,000

Other loans
106,879
179,896

Trade creditors
50,489
93,860

Other taxation and social security
165,265
178,240

Other creditors
56,598
56,108

Accruals and deferred income
58,906
35,500

446,137
551,604



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
19,280
32,913

Other creditors
148,771
86,491

168,051
119,404


Page 9

 
SERNA LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
8,000
8,000

Other loans
106,879
179,896


114,879
187,896


Amounts falling due 2-5 years

Bank loans
19,280
32,913


134,159
220,809



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £11,903 (2023: £20,421). Contributions totalling £956 (2023: £4,541) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 10