1 November 2023 false No description of principal activity Taxfiler 2024.6 09063189business:PrivateLimitedCompanyLtd2023-11-012024-10-31 090631892023-10-31 090631892023-11-012024-10-31 09063189business:AuditExempt-NoAccountantsReport2023-11-012024-10-31 09063189business:FilletedAccounts2023-11-012024-10-31 090631892024-10-31 09063189business:Director12023-11-012024-10-31 09063189business:Director22023-11-012024-10-31 09063189business:Director32023-11-012024-10-31 09063189business:Director42023-11-012024-10-31 09063189business:RegisteredOffice2023-11-012024-10-31 090631892023-10-31 09063189core:WithinOneYear2024-10-31 09063189core:WithinOneYear2023-10-31 09063189core:AfterOneYear2024-10-31 09063189core:AfterOneYear2023-10-31 09063189core:ShareCapitalcore:PreviouslyStatedAmount2024-10-31 09063189core:ShareCapitalcore:PreviouslyStatedAmount2023-10-31 09063189core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-10-31 09063189core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-10-31 09063189core:PreviouslyStatedAmount2024-10-31 09063189core:PreviouslyStatedAmount2023-10-31 09063189business:SmallEntities2023-11-012024-10-31 09063189countries:EnglandWales2023-11-012024-10-31 09063189core:IntangibleAssetsOtherThanGoodwill2023-10-31 09063189core:IntangibleAssetsOtherThanGoodwill2024-10-31 09063189core:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-31 09063189core:AfterOneYear2023-11-012024-10-31 090631892022-11-012023-10-31 iso4217:GBP xbrli:pure
Company Registration No. 09063189 (England and Wales)
SERANKING LTD Unaudited accounts for the year ended 31 October 2024
SERANKING LTD Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
SERANKING LTD Company Information for the year ended 31 October 2024
Directors
Valery Kurylau Jason Edward Hable Michael Scott Irwin Viktar Kuushynau
Company Number
09063189 (England and Wales)
Registered Office
Office 2 Forest House Business Centre 8 Gainsborough Road London E11 1HT United Kingdom
- 3 -
SERANKING LTD Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
94,681 
123,147 
Current assets
Debtors
5
2,865,590 
3,563,416 
Investments
6
15,855 
213,260 
Cash at bank and in hand
418,667 
244,547 
3,300,112 
4,021,223 
Creditors: amounts falling due within one year
7
(762,066)
(714,724)
Net current assets
2,538,046 
3,306,499 
Total assets less current liabilities
2,632,727 
3,429,646 
Creditors: amounts falling due after more than one year
8
(2,666,007)
(2,740,592)
Provisions for liabilities
Other provisions
(54,191)
(759,260)
Net liabilities
(87,471)
(70,206)
Capital and reserves
Called up share capital
109 
109 
Profit and loss account
(87,580)
(70,315)
Shareholders' funds
(87,471)
(70,206)
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by
Viktar Kuushynau Director Company Registration No. 09063189
- 4 -
SERANKING LTD Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
SERANKING LTD is a private company, limited by shares, registered in England and Wales, registration number 09063189. The registered office is Office 2, Forest House Business Centre, 8 Gainsborough Road, London, E11 1HT, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and intangible fixed assets measured at fair value through profit or loss. The financial statements are prepared in US dollars, which is the functional currency of the entity. The Company's financial results are reported in Pound Sterling. Profit and loss have been computed in US dollars and translated into Pound Sterling using the HMRC 2024 average exchange rate of £1 : $1.2787.
Going concern
The financial statements are prepared on a going concern basis.
- 5 -
SERANKING LTD Notes to the Accounts for the year ended 31 October 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 November 2023
146,314 
At 31 October 2024
146,314 
Amortisation
At 1 November 2023
23,167 
Charge for the year
28,466 
At 31 October 2024
51,633 
Net book value
At 31 October 2024
94,681 
At 31 October 2023
123,147 
Intangible fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible fixed assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated amortisation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss. Amortisation Amortisation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Long-term equipment - 3 years straight line If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of intangible asset, the amortisation is revised prospectively to reflect the new estimates. Intangible fixed assets and amortisation amounts have been translated into Pound Sterling using the HMRC 2024 average exchange rate of £1 : $1.2787.
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
83,173 
405,396 
Amounts due from group undertakings etc.
3,905 
3,093 
Deferred tax asset
14,320 
14,320 
Accrued income and prepayments
98,185 
400,015 
199,583 
822,824 
Amounts falling due after more than one year
Other debtors
2,666,007 
2,740,592 
- 6 -
SERANKING LTD Notes to the Accounts for the year ended 31 October 2024
6
Investments held as current assets
2024 
2023 
£ 
£ 
Unlisted investments
15,855 
213,260 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
7,592 
654 
Trade creditors
20,712 
31,696 
Amounts owed to group undertakings and other participating interests
22,643 
- 
Accruals
2,323 
- 
Deferred income
708,796 
682,374 
762,066 
714,724 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
2,666,007 
2,740,592 
SER HOLDCO INC. and SERANKING LTD entered into a loan agreement dated 27 August 2021 to provide a loan facility of £3,233,891 under a Schedule A to the Promissory Note. Such loan accrues interest at a fixed interest rate of 5% per annum on the outstanding principal amount if it has not been paid on the date on which it is payable until such time as payment therefore is actually delivered to the Lender. The Company has accounted for the loan under 11.8(b) of FRS 102, Debt. As such the Notes Payable and applicable accrued interest have been recorded in an expense of £270,243 for the year ended October 31, 2024. As of October 31, 2024, repayment amounts due within one year £22,643 were recorded as current liabilities, and the remaining amount due in more than one year £ 2,666, 007 as long-term liabilities.
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
- 7 -