Serra & Speller Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08211766 (England and Wales)

Abridged Unaudited Financial Statements

for the Year Ended 31 December 2019

for

SERRA & SPELLER LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

9

DIRECTORS:

A Serra

S A Speller

REGISTERED OFFICE:

73 Lower Village Road

Ascot

Berkshire

SL5 7AF

REGISTERED NUMBER:

08211766 (England and Wales)

ACCOUNTANTS:

Masons

337 Bath Road

Slough

Berkshire

SL1 5PR

FIXED ASSETS

Tangible assets

5

23,920

46,175

Investments

6

90

90

24,010

46,265

CURRENT ASSETS

Stocks

2,581

2,922

Debtors

328,489

275,224

Cash at bank

22,737

40,430

353,807

318,576

CREDITORS

Amounts falling due within one year

195,482

161,447

NET CURRENT ASSETS

158,325

157,129

TOTAL ASSETS LESS CURRENT LIABILITIES

182,335

203,394

CREDITORS

Amounts falling due after more than one year

-

(1,122

)

PROVISIONS FOR LIABILITIES

(3,344

)

(7,332

)

NET ASSETS

178,991

194,940

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

178,989

194,938

SHAREHOLDERS' FUNDS

178,991

194,940

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors on 3 March 2020 and were signed on its behalf by:

A Serra - Director

S A Speller - Director

1.	STATUTORY INFORMATION

Serra & Speller Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Serra & Speller Ltd as an individual company and

do not contain consolidated financial information as the parent of a group. The company is exempt

under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated

financial statements.

Significant judgements and estimates

Management make estimates and assumptions concerning the future. The resulting accounting

estimates and judgements by definition, seldom equal the related actual results. There are no estimates

and assumptions that have a significant risk of causing material adjustment to the carrying amounts of

assets and liabilities within the next financial period.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost and 25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial

assets and liabilities.

Short term debtors are measured at transaction price, less any impairment. Long term debtors and loan

receivable are measured initially at transaction price, net of transaction costs and are subsequently

measured at fair value using the effective interest method, less any impairment.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty

on notice of withdrawal. Cash equivalents are readily convertible to known amounts of cash with

insignificant risk of change in value.

Short term creditors are measured at transaction price. Long term creditors and loans are measured

initially at transaction price, net of transaction costs and are subsequently measured at fair value using

the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable

profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2018 - 12 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2019

133,102

Additions

10,443

Disposals

(11,193

)

At 31 December 2019

132,352

DEPRECIATION

At 1 January 2019

86,927

Charge for year

30,075

Eliminated on disposal

(8,570

)

At 31 December 2019

108,432

NET BOOK VALUE

At 31 December 2019

23,920

At 31 December 2018

46,175

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 January 2019

30,548

Transfer to ownership

(11,548

)

At 31 December 2019

19,000

DEPRECIATION

At 1 January 2019

22,911

Charge for year

7,637

Transfer to ownership

(11,548

)

At 31 December 2019

19,000

NET BOOK VALUE

At 31 December 2019

-

At 31 December 2018

7,637

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2019

and 31 December 2019

90

NET BOOK VALUE

At 31 December 2019

90

At 31 December 2018

90

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.19

31.12.18

£

£

Hire purchase contracts

1,122

6,881

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.19

31.12.18

value:

£

£

2

Ordinary

£1

2

2

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive

Income and certain other primary statements and the Report of the Directors are not required to be

filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Serra & Speller Ltd for the year ended 31 December 2019 which

comprise the Statement of Comprehensive Income, Abridged Balance Sheet, Statement of Changes in Equity

and the related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Serra & Speller Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Serra & Speller Ltd and state those matters that we have agreed to state to the Board of Directors of Serra & Speller Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Serra & Speller Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Serra & Speller Ltd. You consider that Serra & Speller Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Serra & Speller Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Masons

337 Bath Road

Slough

Berkshire

SL1 5PR

3 March 2020