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Registration number: 05278156

Serapid Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Serapid Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Serapid Limited

(Registration number: 05278156)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

18,525

22,418

Current assets

 

Stocks

5

3,276

3,276

Debtors

6

1,841,663

1,020,126

Cash at bank and in hand

 

697,886

155,604

 

2,542,825

1,179,006

Creditors: Amounts falling due within one year

7

(2,957,744)

(1,979,185)

Net current liabilities

 

(414,919)

(800,179)

Net liabilities

 

(396,394)

(777,761)

Capital and Reserves

 

Called up share capital

10,000

10,000

Retained Earnings

(406,394)

(787,761)

Shareholders' deficit

 

(396,394)

(777,761)

For the financial year ending 31 December 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 April 2025 and signed on its behalf by:
 

.........................................
G Davies
Director

 

Serapid Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Counting House
Elm Farm Park
Great Green, Thurston
Bury St Edmunds
Suffolk
IP31 3SH
United Kingdom

These financial statements were authorised for issue by the Board on 3 April 2025.

2

Accounting policies

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).

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.

The financial statements are presented in Sterling, which is the functional currency of the company.

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.

Foreign currency transactions and balances

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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.

 

Serapid Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

4

Tangible Assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

8,325

63,454

71,779

Additions

-

1,826

1,826

Disposals

-

(5,464)

(5,464)

At 31 December 2024

8,325

59,816

68,141

Depreciation

At 1 January 2024

2,861

41,036

43,897

Charge for the year

1,366

4,353

5,719

At 31 December 2024

4,227

45,389

49,616

Carrying amount

At 31 December 2024

4,098

14,427

18,525

At 31 December 2023

-

22,418

22,418

5

Stocks

2024
£

2023
£

Other inventories

3,276

3,276

6

Debtors

Current

2024
£

2023
£

Trade Debtors

1,556,252

634,431

Prepayments

73,578

7,416

Other debtors

211,833

378,279

 

1,841,663

1,020,126

 

Serapid Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

1,393,554

539,293

Trade Creditors

 

1,267,887

1,322,272

Taxation and social security

 

-

35,720

Accruals and deferred income

 

288,487

77,092

Other creditors

 

7,816

4,808

 

2,957,744

1,979,185

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £8,000 (2023 - £8,000).

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £Nil (2023 - £Nil).

9

Parent and ultimate parent undertaking

The company's immediate parent is Lounis Holding, incorporated in France.

 

10

Going Concern

As at 31 December 2024, the company had net liabilities of £448,769 (2023: 762,742). This included a purchase ledger balance of £1,040,656 (2022: £1,036,458) due to Serapid France and a loan from Serapid GMBH of £1,386,978 (2022: £nil). The directors have no reason to believe that there is any material uncertainty in relation to the ongoing support from Serapid France or Serapid GMBH.