REGISTERED NUMBER: 11091167 (England and Wales)

SER Homes Ltd

Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C Serban

REGISTERED OFFICE:

Hunters Hall Farm

Epping Upland

Epping

Essex

CM16 6PL

REGISTERED NUMBER:

11091167 (England and Wales)

AUDITORS:

Gravita Audit II Ltd

Chartered Accountants & Statutory Auditors

Aldgate Tower

2 Leman Street

London

E1 8FA

CURRENT ASSETS

Stocks

267,471

267,471

Debtors

4

-

45,098

Cash at bank and in hand

77,599

31,033

345,070

343,602

CREDITORS

Amounts falling due within one year

5

368,107

364,966

NET CURRENT LIABILITIES

(23,037

)

(21,364

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(23,037

)

(21,364

)

CAPITAL AND RESERVES

Called up share capital

6

1

1

Retained earnings

(23,038

)

(21,365

)

SHAREHOLDERS' FUNDS

(23,037

)

(21,364

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 September 2025 and were signed by:

C Serban - Director

1.	COMPANY INFORMATION

SER Homes Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Hunters Hall Farm, Epping Upland, Epping, Essex, CM16 6PL.

2.	ACCOUNTING POLICIES

2.1 Accounting convention

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2 Going concern

The company currently has a net liability position of £23,038 (2023: £21,365) and made a loss of £1,673 (2023: £23,741) during the year ended 31 December 2024.

The directors have prepared trading forecast for the period ending 30 September 2026. These forecasts show the company being profitable in this period.

The financial statements are prepared on the going concern basis on the assumption that the company will continue in operational existence for the foreseeable future, the validity of which depends upon on the ongoing support of the parent company SER Holdings Limited and related group entity SER Contractor Limited.

SER Holdings Limited and related group entity SER Contractor Limited have provided the company with a letter of support indicating that it will not seek repayment of its outstanding intercompany balance totalling £366,307 to the company to the detriment of other creditors in the 12 months following the formal approval of these financial statements. In addition, SER Holdings Limited and related group entity SER Contractor Limited have also confirmed that if the trading forecasts are not achieved, they will provide sufficient additional financial support in order for the Company to meet its obligation towards creditors and carry on trading for a period of at least 12 months from the date of approval of its financial statements. The financial statements include no adjustment that might otherwise be necessary if that support were not forthcoming.

2.3 Turnover

Revenue from the sale of properties are accounted for on an exchange of unconditional contracts, namely where contracts are exchanged and where appropriate, construction is complete. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts and value added tax.

2.4 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stock predominantly relates to land held for development with land property purchases recognised upon exchange of unconditional contracts.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2.5 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.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2.5 Financial instruments - continued

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

2.6 Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Owed by group undertakings

-

45,098

Included within amounts owed by group undertakings are loan balances that are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Owed to group undertakings

366,307

361,405

Accruals and deferred income

1,800

3,561

368,107

364,966

Included within amounts owed to group undertakings are loan balances that are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1

Ordinary

£1

1

1

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and repayment of capital.

7.	AUDIT REPORT INFORMATION

8.	RELATED PARTY TRANSACTIONS

The company has taken advantage of the exemption in FRS 102 1AC.35 that transactions entered into between members of a group do not need to be disclosed as all relevant subsidiaries are wholly owned.

9.	PARENT COMPANY

The ultimate parent company is SER Holdings Limited. The parent company's registered office is Hunters Hall Farm, Epping Upland, Epping, Essex, CM16 6PL.

C Serban is the ultimate controlling party of SER Holdings Limited.