Seraph Estates (Cardiff) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07791713 (Wales)

SERAPH ESTATES (CARDIFF) LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D J Haig

SECRETARY:

R Haig

REGISTERED OFFICE:

1 St Martin's Row

Albany Road

Cardiff

South Glamorgan

CF24 3RP

REGISTERED NUMBER:

07791713 (Wales)

ACCOUNTANTS:

Green & Co

Chartered Certified Accountants

Pembroke House

Llantarnam Park Way

Cwmbran

Torfaen

NP44 3AU

FIXED ASSETS

Tangible assets

4

180,535

189,178

Investments

5

125,000

-

305,535

189,178

CURRENT ASSETS

Debtors

6

186,465

125,433

Cash at bank

77,215

7,022

263,680

132,455

CREDITORS

Amounts falling due within one year

7

364,717

194,212

NET CURRENT LIABILITIES

(101,037

)

(61,757

)

TOTAL ASSETS LESS CURRENT LIABILITIES

204,498

127,421

CREDITORS

Amounts falling due after more than one year

8

(78,680

)

(44,511

)

PROVISIONS FOR LIABILITIES

(8,433

)

(8,598

)

NET ASSETS

117,385

74,312

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

117,285

74,212

SHAREHOLDERS' FUNDS

117,385

74,312

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 22nd December 2021 and were signed by:

D J Haig - Director

1.	STATUTORY INFORMATION

Seraph Estates (Cardiff) Ltd is a private company, limited by shares , registered in Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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.

Office equipment

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2020 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Fixtures

prop

Office

and

improvements

equipment

fittings

£

£

£

COST

At 1st April 2020

148,537

35,975

31,079

Additions

9,913

6,082

-

At 31st March 2021

158,450

42,057

31,079

DEPRECIATION

At 1st April 2020

14,828

16,482

11,513

Charge for year

15,845

6,394

2,935

At 31st March 2021

30,673

22,876

14,448

NET BOOK VALUE

At 31st March 2021

127,777

19,181

16,631

At 31st March 2020

133,709

19,493

19,566

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st April 2020

27,800

4,500

247,891

Additions

-

6,184

22,179

At 31st March 2021

27,800

10,684

270,070

DEPRECIATION

At 1st April 2020

13,552

2,338

58,713

Charge for year

3,562

2,086

30,822

At 31st March 2021

17,114

4,424

89,535

NET BOOK VALUE

At 31st March 2021

10,686

6,260

180,535

At 31st March 2020

14,248

2,162

189,178

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

Motor

vehicles

£

COST

At 1st April 2020

and 31st March 2021

27,800

DEPRECIATION

At 1st April 2020

8,803

Charge for year

3,562

At 31st March 2021

12,365

NET BOOK VALUE

At 31st March 2021

15,435

At 31st March 2020

18,997

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

125,000

At 31st March 2021

125,000

NET BOOK VALUE

At 31st March 2021

125,000

6.

DEBTORS

2021

2020

£

£

Amounts falling due within one year:

Trade debtors

27,386

36,939

Other debtors

10,035

3,346

Nutall Parker

57,799

-

Prepayments

6,603

16,633

101,823

56,918

Amounts falling due after more than one year:

Amounts owed by group undertakings

84,642

68,515

Aggregate amounts

186,465

125,433

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

4,167

-

Hire purchase contracts

12,857

5,866

Trade creditors

159,768

20,297

Social security and other taxes

17,209

10,841

VAT

73,207

63,958

Other creditors

7,807

6,906

Directors' current accounts

43,773

48,905

Accruals and deferred income

45,929

37,439

364,717

194,212

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans - 2-5 years

45,833

-

Hire purchase contracts

2,206

13,870

Amounts owed to group undertakings

30,641

30,641

78,680

44,511

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary

£1

100

100

10.	RELATED PARTY DISCLOSURES

At year end the company owed the director D J Haig £43,774 (2020 - £48,905).

At year end the company was owed £84,642 (£68,515: 2020) by related group companies under the control of D J Haig.

At year end the company owed £30,640 (£30,640: 2020) to related group companies under the control of D J Haig.