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Registration number: 10777504

SRS Task Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 5 April 2024

 

SRS Task Limited
(Registration number: 10777504)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

SRS Task Limited
(Registration number: 10777504)

Company Information

Directors

C M Smith

D Smith

Registered office

Unit 17
Meadow View Business Park
Reach Road
Burwell
Cambridge
CB25 0GH

Registered number

10777504

 

SRS Task Limited
(Registration number: 10777504)

Balance Sheet as at 5 April 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

26,899

24,827

Current assets

 

Debtors

5

212,297

109,742

Cash at bank and in hand

 

752

602

 

213,049

110,344

Creditors: Amounts falling due within one year

6

(113,639)

(61,806)

Net current assets

 

99,410

48,538

Total assets less current liabilities

 

126,309

73,365

Creditors: Amounts falling due after more than one year

6

(5,839)

(10,833)

Net assets

 

120,470

62,532

Capital and Reserves

 

Called up share capital

1

1

Retained Earnings

120,469

62,531

Shareholders' funds

 

120,470

62,532

 

SRS Task Limited
(Registration number: 10777504)

Balance Sheet as at 5 April 2024

For the financial year ending 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 April 2025 and signed on its behalf by:
 

.........................................
D Smith
Director

 

SRS Task Limited
(Registration number: 10777504)

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 17
Meadow View Business Park
Reach Road
Burwell
Cambridge
CB25 0GH

These financial statements were authorised for issue by the Board on 1 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

SRS Task Limited
(Registration number: 10777504)

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% per annum

Motor vehicles

20% per annum

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

SRS Task Limited
(Registration number: 10777504)

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 7).

 

SRS Task Limited
(Registration number: 10777504)

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

4

Tangible Assets

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 6 April 2023

27,200

22,240

49,440

Additions

6,667

382

7,049

At 5 April 2024

33,867

22,622

56,489

Depreciation

At 6 April 2023

10,176

14,437

24,613

Charge for the year

3,416

1,561

4,977

At 5 April 2024

13,592

15,998

29,590

Carrying amount

At 5 April 2024

20,275

6,624

26,899

At 5 April 2023

17,024

7,803

24,827

5

Debtors

The directors have reviewed trade debtors for impairment and consider the impairment losses to be provided for the year are £Nil (2023 - £Nil)

All amounts are due within one year.

Current

2024
£

2023
£

Trade Debtors

38,250

47,759

Prepayments

3,675

-

Other debtors

170,372

61,983

 

212,297

109,742

 

SRS Task Limited
(Registration number: 10777504)

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

5,000

5,000

Trade Creditors

 

25,665

9,147

Taxation and social security

 

82,554

47,259

Accruals and deferred income

 

420

400

 

113,639

61,806

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

5,839

10,833

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

5,839

10,833

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,000

5,000