Acorah Software Products - Accounts Production 16.1.300 false true 31 December 2023 1 January 2023 false 17 March 2025 1 January 2024 31 December 2024 31 December 2024 03897128 A P Dearden D P Bennett V C Gibson A V Southgate A P Dearden true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03897128 2023-12-31 03897128 2024-12-31 03897128 2024-01-01 2024-12-31 03897128 frs-core:CurrentFinancialInstruments 2024-12-31 03897128 frs-core:Non-currentFinancialInstruments 2024-12-31 03897128 frs-core:BetweenOneFiveYears 2024-12-31 03897128 frs-core:MotorVehicles 2024-12-31 03897128 frs-core:MotorVehicles 2024-01-01 2024-12-31 03897128 frs-core:MotorVehicles 2023-12-31 03897128 frs-core:PlantMachinery 2024-12-31 03897128 frs-core:PlantMachinery 2024-01-01 2024-12-31 03897128 frs-core:PlantMachinery 2023-12-31 03897128 frs-core:WithinOneYear 2024-12-31 03897128 frs-core:ShareCapital 2024-12-31 03897128 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 03897128 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03897128 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 03897128 frs-bus:SmallEntities 2024-01-01 2024-12-31 03897128 frs-bus:Audited 2024-01-01 2024-12-31 03897128 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03897128 frs-bus:OrdinaryShareClass2 2024-01-01 2024-12-31 03897128 frs-bus:OrdinaryShareClass2 2024-12-31 03897128 frs-bus:OrdinaryShareClass3 2024-01-01 2024-12-31 03897128 frs-bus:OrdinaryShareClass3 2024-12-31 03897128 1 2024-01-01 2024-12-31 03897128 frs-core:DeferredTaxation 2024-01-01 2024-12-31 03897128 frs-core:DeferredTaxation 2023-12-31 03897128 frs-core:DeferredTaxation 2024-12-31 03897128 frs-core:OtherProvisionsContingentLiabilities 2024-01-01 2024-12-31 03897128 frs-core:OtherProvisionsContingentLiabilities 2023-12-31 03897128 frs-core:OtherProvisionsContingentLiabilities 2024-12-31 03897128 frs-bus:Director1 2024-01-01 2024-12-31 03897128 frs-bus:Director2 2024-01-01 2024-12-31 03897128 frs-bus:Director3 2024-01-01 2024-12-31 03897128 frs-bus:Director4 2024-01-01 2024-12-31 03897128 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 03897128 frs-countries:EnglandWales 2024-01-01 2024-12-31 03897128 frs-core:CurrentFinancialInstruments frs-core:WithinOneYear 2023-12-31 03897128 2022-12-31 03897128 2023-12-31 03897128 2023-01-01 2023-12-31 03897128 frs-core:CurrentFinancialInstruments 2023-12-31 03897128 frs-core:Non-currentFinancialInstruments 2023-12-31 03897128 frs-core:BetweenOneFiveYears 2023-12-31 03897128 frs-core:MotorVehicles 2023-01-01 2023-12-31 03897128 frs-core:WithinOneYear 2023-12-31 03897128 frs-core:ShareCapital 2023-12-31 03897128 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 03897128 frs-bus:OrdinaryShareClass2 2023-01-01 2023-12-31 03897128 frs-bus:OrdinaryShareClass3 2023-01-01 2023-12-31
Registered number: 03897128
Serenco (UK) Limited
Financial Statements
For The Year Ended 31 December 2024
Elsby & Company Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 03897128
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 217,772 189,604
217,772 189,604
CURRENT ASSETS
Stocks 5 3,901,157 2,939,428
Debtors 6 2,054,974 1,836,202
Cash at bank and in hand 91,627 133,227
6,047,758 4,908,857
Creditors: Amounts Falling Due Within One Year 7 (2,825,548 ) (2,073,393 )
NET CURRENT ASSETS (LIABILITIES) 3,222,210 2,835,464
TOTAL ASSETS LESS CURRENT LIABILITIES 3,439,982 3,025,068
Creditors: Amounts Falling Due After More Than One Year 8 (18,041 ) (23,756 )
PROVISIONS FOR LIABILITIES
Provisions For Charges 12 (48,750 ) -
Deferred Taxation (53,604 ) (50,810 )
NET ASSETS 3,319,587 2,950,502
CAPITAL AND RESERVES
Called up share capital 13 21,000 21,000
Profit and Loss Account 3,298,587 2,929,502
SHAREHOLDERS' FUNDS 3,319,587 2,950,502
Page 1
Page 2
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
A P Dearden
Director
17th March 2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Serenco (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03897128 . The registered office is Unit 3 Wellingborough Road, Sywell, Northampton, Northamptonshire, NN6 0BN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Significant judgements and estimations
In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. 
The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements. 
Stock provisions 
The accounting estimate related to valuation of inventories is considered a “critical accounting estimate” because it is susceptible to changes from period-to-period due to the requirement for management to make estimates relative to each of the underlying factors, ranging from purchasing, to sales. If actual demand or market conditions differ from estimates, inventory adjustments to lower market values would result in a reduction to the carrying value of inventory, an increase in inventory write-offs, and a decrease to gross margins. 
Property dilapidations 
Under certain operating leases for land and buildings, the company is obligated to make repairs of dilapidations to the leased property upon expiry of the lease. The company provides for the best estimate of the future unrecoverable costs of its obligations under these leases. 
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover is recognised on delivery of goods to the customer.
2.4. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter
Plant & Machinery 20% - 55% on cost
Motor Vehicles 25% on cost
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.
Page 3
Page 4
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
3. Average Number of Employees
Average number of employees during the year was: 45 (2023: 38)
45 38
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 January 2024 617,559 219,612 837,171
Additions 41,517 99,659 141,176
As at 31 December 2024 659,076 319,271 978,347
Depreciation
As at 1 January 2024 505,802 141,765 647,567
Provided during the period 72,455 40,553 113,008
As at 31 December 2024 578,257 182,318 760,575
Net Book Value
As at 31 December 2024 80,819 136,953 217,772
As at 1 January 2024 111,757 77,847 189,604
The net book value of tangible fixed assets includes the following in respect of assets held under hire purchase contracts: 
2024 2023
£ £
Motor Vehicles 13,755 22,925
Page 4
Page 5
5. Stocks
2024 2023
£ £
Stock for resale 2,688,924 2,733,897
Stock in transit 1,212,233 205,531
3,901,157 2,939,428
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,865,785 1,741,608
Amounts owed by group undertakings - 14,613
Other debtors 189,189 79,981
2,054,974 1,836,202
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,715 5,235
Trade creditors 1,778,952 1,114,204
Bank loans and overdrafts 245,493 69,501
Amounts owed to group undertakings 25,387 -
Other creditors 229,713 188,989
Taxation and social security 540,288 695,464
2,825,548 2,073,393
The comparitive 2023 figures have been amended to include stock in transit from overseas where title had passed to the company upon shipment. Stock and trade creditors have been increased by £205,530. 
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 18,041 23,756
9. Secured Creditors
The following secured debts are included within the balance sheet:
2024
2023
£
£
Bank overdrafts
25,607
55,612
Hire purchase contracts
23,756
28,991
Invoice financing
219,886
(132,678)
Cash balance
(91,627)
image
(549)
image
177,622
image
(48,624)
image
Bank overdrafts are secured by way of a fixed and floating charge over the assets of the company.
...CONTINUED
Page 5
Page 6
9. Secured Creditors - continued
The invoice discounting advance is secured by way of a fixed and floating charge over all book debts and other debts. As at 31 December 2024, the balance was a current liability (2023 current asset) and included within Bank loans and overdrafts (2023: Cash at bank and in hand).
Hire purchase creditors are secured on the assets to which they relate.
10. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans - 13,889
11. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,654 6,653
Later than one year and not later than five years 18,550 25,204
25,204 31,857
Less: Finance charges allocated to future periods 1,448 2,866
23,756 28,991
12. Provisions for Liabilities
Deferred Tax Other Provisions Total
£ £ £
As at 1 January 2024 50,810 - 50,810
Additions - 48,750 48,750
Deferred taxation 2,794 - 2,794
Balance at 31 December 2024 53,604 48,750 102,354
13. Share Capital
2024 2023
Allotted, called up and fully paid £ £
14,700 Ordinary A shares of £ 1.00 each 14,700 14,700
6,300 Ordinary B shares of £ 1.00 each 6,300 6,300
21,000 21,000
Page 6
Page 7
14. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 94,349 63,452
Later than one year and not later than five years 188,879 49,362
283,228 112,814
15. Controlling Parties
The controlling party is Dearden Holdings Limited (incorporated in the United Kingdom). The registered office of Dearden Holdings Ltd is Unit 3 Wellingborough Road, Sywell, Northamptonshire, NN6 0BN. 
The ultimate controlling party is A P Dearden, due to ultimate control of the parent company Dearden Holdings Ltd. 
16. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
17. Audit Information
The auditor's report on the accounts of Serenco (UK) Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Carl Elsby ACA (Senior Statutory Auditor) for and on behalf of Elsby and Co (Sywell) Ltd , Statutory Auditor.
Elsby and Co (Sywell) Ltd
Chartered Accountants and Registered Auditors
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB
Page 7