Serfilco International Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 01225121

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		27,102		37,311
Investments	5		204,295		204,295

			231,397		241,606
CURRENT ASSETS
Stocks	6	2,548,237		2,424,732
Debtors	7	588,069		611,165
Cash at bank and in hand		166,952		363,487

		3,303,258		3,399,384
Creditors: Amounts Falling Due Within One Year	8	(1,659,712 )		(1,771,835 )

NET CURRENT ASSETS (LIABILITIES)			1,643,546		1,627,549

TOTAL ASSETS LESS CURRENT LIABILITIES			1,874,943		1,869,155

Creditors: Amounts Falling Due After More Than One Year	9		(1,428,571 )		(1,428,571 )

PROVISIONS FOR LIABILITIES
Provisions For Charges			(66,000 )		-

NET ASSETS			380,372		440,584

CAPITAL AND RESERVES
Called up share capital	11		6,003		6,003
Profit and Loss Account			374,369		434,581

SHAREHOLDERS' FUNDS			380,372		440,584

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Serfilco International Limited

Balance Sheet (continued)

As At 31 December 2024

For the 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.

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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Gareth Williams

Director

23/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Serfilco International Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01225121 . The registered office is Siemans Road, Cadishead, Manchester, M44 5AH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	15-25%
Motor Vehicles	25%
Computer Equipment	25%

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.6. Foreign Currencies

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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 17 (2023: 11)

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Serfilco International Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 January 2024	190,890	13,479	204,369
Additions	9,029	-	9,029
Disposals	(28,245 )	-	(28,245 )

As at 31 December 2024	171,674	13,479	185,153

Depreciation
As at 1 January 2024	167,445	(387 )	167,058
Provided during the period	15,868	3,370	19,238
Disposals	(28,245 )	-	(28,245 )

As at 31 December 2024	155,068	2,983	158,051

Net Book Value
As at 31 December 2024	16,606	10,496	27,102

As at 1 January 2024	23,445	13,866	37,311

5. Investments

	Subsidiaries
	£
Cost
As at 1 January 2024	204,295

As at 31 December 2024	204,295

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	204,295

As at 1 January 2024	204,295

6. Stocks

	2024	2023
	£	£
Stock	2,548,237	2,424,732

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	350,843	377,916
Other debtors	237,226	233,249

	588,069	611,165

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Serfilco International Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	430,996	16,522
Bank loans and overdrafts	-	561
Other loans	(45,175 )	-
Amounts owed to participating interests	1,246,281	1,671,390
Other creditors	47,623	83,362
Taxation and social security	(20,013 )	-

	1,659,712	1,771,835

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Other creditors	1,428,571	1,428,571

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	6,003	6,003

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