Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30false2023-07-011No description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10823466 2023-07-01 2024-06-30 10823466 2022-07-01 2023-06-30 10823466 2024-06-30 10823466 2023-06-30 10823466 c:Director1 2023-07-01 2024-06-30 10823466 d:CurrentFinancialInstruments 2024-06-30 10823466 d:CurrentFinancialInstruments 2023-06-30 10823466 d:Non-currentFinancialInstruments 2024-06-30 10823466 d:Non-currentFinancialInstruments 2023-06-30 10823466 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 10823466 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 10823466 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 10823466 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 10823466 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-06-30 10823466 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 10823466 d:ShareCapital 2024-06-30 10823466 d:ShareCapital 2023-06-30 10823466 d:RetainedEarningsAccumulatedLosses 2024-06-30 10823466 d:RetainedEarningsAccumulatedLosses 2023-06-30 10823466 c:FRS102 2023-07-01 2024-06-30 10823466 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10823466 c:FullAccounts 2023-07-01 2024-06-30 10823466 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10823466 6 2023-07-01 2024-06-30 10823466 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 10823466









SERAC HOMES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
SERAC HOMES LTD
REGISTERED NUMBER: 10823466

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Investments
 4 
2
2

  
2
2

Current assets
  

Debtors: amounts falling due within one year
 5 
47,361
47,361

Cash at bank and in hand
 6 
52
628

  
47,413
47,989

Creditors: amounts falling due within one year
 7 
(17,635)
(13,160)

Net current assets
  
 
 
29,778
 
 
34,829

Total assets less current liabilities
  
29,780
34,831

Creditors: amounts falling due after more than one year
 8 
(33,153)
(39,070)

  

Net liabilities
  
(3,373)
(4,239)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(3,473)
(4,339)

Total equity
  
(3,373)
(4,239)


Page 1

 
SERAC HOMES LTD
REGISTERED NUMBER: 10823466
    
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: 




................................................
B Johnson
Director

Date: 25 March 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
SERAC HOMES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Serac Homes Ltd ("the Company") is a private company limited by shares and is incorporated in England and Wales. The address of its registered office is Aston House, Cornwall Avenue, London, N3 1LF. 

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

Going concern

After making enquiries, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date of these financial statements were approved. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.

 
2.3

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.

 
2.4

Borrowing costs

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

 
2.5

Valuation of investments

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.

 
2.6

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.

 
2.7

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.

Page 3

 
SERAC HOMES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
SERAC HOMES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 July 2023
2



At 30 June 2024
2





5.


Debtors

2024
2023
£
£


Other debtors
47,361
47,361



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
52
628



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,000
5,000

Amounts owed to group undertakings
12,635
7,560

Accruals and deferred income
-
600

17,635
13,160



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
33,153
39,070


Page 5

 
SERAC HOMES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,000
5,000

Amounts falling due after more than one year

Bank loans
33,153
39,070

38,153
44,070


 
Page 6