Serrano Stays Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12299391

SERRANO STAYS LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

27 November 2024

SERRANO STAYS LTD

STATEMENT OF FINANCIAL POSITION

27 November 2024

	2024		2023
Note	£	£	£

CURRENT ASSETS

Stocks		404,077	280,639
Debtors	4	224,845	176,033
Cash at bank and in hand		1,671	1
		---------	---------
		630,593	456,673

CREDITORS: amounts falling due within one year	5	( 555,436)		( 328,790)
		---------		---------
NET CURRENT ASSETS			75,157	127,883
			--------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES			75,157	127,883

CREDITORS: amounts falling due after more than one year	6	( 21,667)	( 23,522)
		--------	---------
NET ASSETS		53,490	104,361
		--------	---------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	53,390	104,261
	--------	---------
SHAREHOLDERS FUNDS	53,490	104,361
	--------	---------

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.

For the period ending 27 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

SERRANO STAYS LTD

STATEMENT OF FINANCIAL POSITION (continued)

27 November 2024

These financial statements were approved by the board of directors and authorised for issue on 8 December 2025 , and are signed on behalf of the board by:

C Thompson
Director

Company registration number: 12299391

SERRANO STAYS LTD

NOTES TO THE FINANCIAL STATEMENTS

PERIOD ENDED 27 NOVEMBER 2024

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Place, 4 Central Place, Leeds, LS10 1FB.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements have also been prepared on the going concern basis. The directors consider the going concern basis to be appropriate as they have confirmed their ongoing support.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its open market value at each reporting date and any changes in value are recognised in the statement of income and retained earnings.

Income tax

Deferred Taxation is provided using the liability method on all timing differences that have originated but not reversed at the balance sheet date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises the acquisition and development costs excluding interest. Development costs include infrastructure costs and costs of houses built. The cost of land acquisition included options to purchase land, and the cost of any investigation work prior to purchase.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.

4. DEBTORS

	2024	2023
	£	£
Trade debtors	–	140,000
Other debtors	224,845	36,033
	---------	---------
	224,845	176,033
	---------	---------

5. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	–	25,499
Corporation tax	12,442	27,641
Other creditors	542,994	275,650
	---------	---------
	555,436	328,790
	---------	---------

6. CREDITORS: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	21,667	23,522
	--------	--------