Company Registration No. 05278156 (England and Wales)
Serapid Limited
Unaudited accounts
for the year ended 31 December 2019
Serapid Limited
Unaudited accounts
Contents
Serapid Limited
Company Information
for the year ended 31 December 2019
Directors
Mr I Forbester
Mr G Davies
Mr E Labesse
Company Number
05278156 (England and Wales)
Registered Office
Counting House
Elm Farm Park
Great Green, Thurston
BURY ST EDMUNDS
IP31 3SH
United Kingdom
Accountants
IDS Business Services
8 Maltings Garth
Thurston
BURY ST EDMUNDS
Suffolk
IP31 3PP
Serapid Limited
Statement of financial position
as at 31 December 2019
Tangible assets
14,797
14,797
Cash at bank and in hand
210,171
564,784
Creditors: amounts falling due within one year
(703,324)
(1,098,214)
Net current assets
52,969
64,424
Called up share capital
10,000
10,000
Profit and loss account
57,766
69,221
Shareholders' funds
67,766
79,221
For the year ending 31 December 2019 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2020 and were signed on its behalf by
Mr I Forbester
Director
Company Registration No. 05278156
Serapid Limited
Notes to the Accounts
for the year ended 31 December 2019
Serapid Limited is a private company, limited by shares, registered in England and Wales, registration number 05278156. The registered office is Counting House, Elm Farm Park, Great Green, Thurston, BURY ST EDMUNDS, IP31 3SH, United Kingdom.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Serapid Limited
Notes to the Accounts
for the year ended 31 December 2019
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Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 January 2019
35,774
2,861
38,635
At 31 December 2019
35,774
2,861
38,635
At 1 January 2019
21,244
2,594
23,838
At 31 December 2019
21,244
2,594
23,838
At 31 December 2019
14,530
267
14,797
At 31 December 2018
14,530
267
14,797
Finished goods
3,665
3,005
Trade debtors
303,350
567,020
Other debtors
239,107
27,829
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Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
2,068
-
Trade creditors
630,872
647,318
Taxes and social security
891
140,694
Other creditors
69,493
310,202
The company is a wholly owned subsidiary of Serapid Inc of France
9
Average number of employees
During the year the average number of employees was 5 (2018: 4).
