12 01/11/2023 31/10/2024 2024-10-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-11-01 Sage Accounts Production 24.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 09807122 2023-11-01 2024-10-31 09807122 2024-10-31 09807122 2023-10-31 09807122 2022-11-01 2023-10-31 09807122 2023-10-31 09807122 2022-10-31 09807122 core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 09807122 core:MotorVehicles 2023-11-01 2024-10-31 09807122 bus:Director1 2023-11-01 2024-10-31 09807122 core:FurnitureFittingsToolsEquipment 2023-10-31 09807122 core:MotorVehicles 2023-10-31 09807122 core:FurnitureFittingsToolsEquipment 2024-10-31 09807122 core:MotorVehicles 2024-10-31 09807122 core:WithinOneYear 2024-10-31 09807122 core:WithinOneYear 2023-10-31 09807122 core:AfterOneYear 2024-10-31 09807122 core:AfterOneYear 2023-10-31 09807122 core:ShareCapital 2024-10-31 09807122 core:ShareCapital 2023-10-31 09807122 core:RetainedEarningsAccumulatedLosses 2024-10-31 09807122 core:RetainedEarningsAccumulatedLosses 2023-10-31 09807122 core:FurnitureFittingsToolsEquipment 2023-10-31 09807122 core:MotorVehicles 2023-10-31 09807122 bus:Director1 2023-10-31 09807122 bus:Director1 2024-10-31 09807122 bus:Director1 2022-10-31 09807122 bus:Director1 2023-10-31 09807122 bus:Director1 2022-11-01 2023-10-31 09807122 bus:SmallEntities 2023-11-01 2024-10-31 09807122 bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 09807122 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 09807122 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 09807122 bus:FullAccounts 2023-11-01 2024-10-31
Company registration number: 09807122
SRE Services Ltd
Unaudited filleted financial statements
31 October 2024
SRE Services Ltd
Contents
Statement of financial position
Notes to the financial statements
SRE Services Ltd
Statement of financial position
31 October 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 138,573 99,427
_______ _______
138,573 99,427
Current assets
Stocks 96,409 144,001
Debtors 6 700,010 222,184
Cash at bank and in hand 47,438 6,083
_______ _______
843,857 372,268
Creditors: amounts falling due
within one year 7 ( 615,199) ( 242,489)
_______ _______
Net current assets 228,658 129,779
_______ _______
Total assets less current liabilities 367,231 229,206
Creditors: amounts falling due
after more than one year 8 ( 159,668) ( 73,419)
Provisions for liabilities ( 34,643) ( 26,834)
_______ _______
Net assets 172,920 128,953
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account 172,910 128,943
_______ _______
Shareholders funds 172,920 128,953
_______ _______
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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 March 2025 , and are signed on behalf of the board by:
Mr. D Silvester
Director
Company registration number: 09807122
SRE Services Ltd
Notes to the financial statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Unit 5a Shingle Farm Barn Smiths Hill, West Farleigh, Maidstone, Kent, ME15 0PH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
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 investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation 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:
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2023: 6 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 November 2023 46,951 169,594 216,545
Additions 23,660 56,626 80,286
Disposals ( 12,603) ( 34,946) ( 47,549)
_______ _______ _______
At 31 October 2024 58,008 191,274 249,282
_______ _______ _______
Depreciation
At 1 November 2023 46,365 70,753 117,118
Charge for the year 2,270 33,672 35,942
Disposals ( 12,414) ( 29,937) ( 42,351)
_______ _______ _______
At 31 October 2024 36,221 74,488 110,709
_______ _______ _______
Carrying amount
At 31 October 2024 21,787 116,786 138,573
_______ _______ _______
At 31 October 2023 586 98,841 99,427
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 541,224 196,257
Other debtors 158,786 25,927
_______ _______
700,010 222,184
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 63,185 32,730
Trade creditors 309,121 122,249
Corporation tax 32,409 13,458
Social security and other taxes 93,090 36,471
Other creditors 117,394 37,581
_______ _______
615,199 242,489
_______ _______
Included within other creditors are obligations under finance leases totalling £35,906 (2023 - £22,074) these are secured over the assets concerned.
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 88,162 20,833
Other creditors 71,506 52,586
_______ _______
159,668 73,419
_______ _______
Included within other creditors are obligations under finance leases totalling £71,506 (2023 - £52,586) these are secured over the assets concerned.
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr. D Silvester ( 25) ( 17) ( 42)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr. D Silvester ( 9,575) 9,550 ( 25)
_______ _______ _______
Loans from directors are interest free and are repayable on demand.