31/10/2019
2019-10-31
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No description of principal activities is disclosed
2018-11-01
Sage Accounts Production 19.0 - FRS102_2014
xbrli:pure
xbrli:shares
iso4217:GBP
09807122
2018-11-01
2019-10-31
09807122
2019-10-31
09807122
2018-10-31
09807122
2017-11-01
2018-10-31
09807122
2018-10-31
09807122
core:FurnitureFittingsToolsEquipment
2018-11-01
2019-10-31
09807122
core:MotorVehicles
2018-11-01
2019-10-31
09807122
bus:Director1
2018-11-01
2019-10-31
09807122
core:FurnitureFittingsToolsEquipment
2018-10-31
09807122
core:MotorVehicles
2018-10-31
09807122
core:FurnitureFittingsToolsEquipment
2019-10-31
09807122
core:MotorVehicles
2019-10-31
09807122
core:WithinOneYear
2019-10-31
09807122
core:WithinOneYear
2018-10-31
09807122
core:AfterOneYear
2019-10-31
09807122
core:AfterOneYear
2018-10-31
09807122
core:ShareCapital
2019-10-31
09807122
core:ShareCapital
2018-10-31
09807122
core:RetainedEarningsAccumulatedLosses
2019-10-31
09807122
core:RetainedEarningsAccumulatedLosses
2018-10-31
09807122
core:FurnitureFittingsToolsEquipment
2018-10-31
09807122
core:MotorVehicles
2018-10-31
09807122
bus:Director1
2018-10-31
09807122
bus:Director1
2019-10-31
09807122
bus:Director1
2017-10-31
09807122
bus:Director1
2018-10-31
09807122
bus:Director1
2017-11-01
2018-10-31
09807122
bus:SmallEntities
2018-11-01
2019-10-31
09807122
bus:AuditExempt-NoAccountantsReport
2018-11-01
2019-10-31
09807122
bus:FullAccounts
2018-11-01
2019-10-31
09807122
bus:SmallCompaniesRegimeForAccounts
2018-11-01
2019-10-31
09807122
bus:PrivateLimitedCompanyLtd
2018-11-01
2019-10-31
Company registration number:
09807122
SRE Services Ltd
Unaudited filleted financial statements
31 October 2019
SRE Services Ltd
Contents
Statement of financial position
Notes to the financial statements
SRE Services Ltd
Statement of financial position
31 October 2019
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2019
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2018
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Note
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£
|
|
£
|
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£
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£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
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Tangible assets
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|
5
|
51,462
|
|
|
|
52,539
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
51,462
|
|
|
|
52,539
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
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|
Stocks
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|
33,000
|
|
|
|
750
|
|
|
Debtors
|
|
6
|
88,671
|
|
|
|
82,801
|
|
|
Cash at bank and in hand
|
|
|
11,034
|
|
|
|
23,060
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
132,705
|
|
|
|
106,611
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
7
|
(
98,302)
|
|
|
|
(
50,378)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
34,403
|
|
|
|
56,233
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
85,865
|
|
|
|
108,772
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
after more than one year
|
|
8
|
|
|
(
24,947)
|
|
|
|
(
41,694)
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
(
5,366)
|
|
|
|
(
4,603)
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
55,552
|
|
|
|
62,475
|
|
|
|
|
|
_______
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|
|
|
_______
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Capital and reserves
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Called up share capital
|
|
|
|
|
10
|
|
|
|
10
|
Profit and loss account
|
|
9
|
|
|
55,542
|
|
|
|
62,465
|
|
|
|
|
|
_______
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|
|
|
_______
|
Shareholders funds
|
|
|
|
|
55,552
|
|
|
|
62,475
|
|
|
|
|
|
_______
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|
_______
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|
For the year ending 31 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 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.
These financial statements were approved by the
board of directors
and authorised for issue on
20 March 2020
, and are signed on behalf of the board by:
Mr. D Silvester
Director
Company registration number:
09807122
SRE Services Ltd
Notes to the financial statements
Year ended 31 October 2019
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Suite FF10 Brooklands house, 58 Marlborough Road, Lancing, West Sussex, BN15 8AF.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Fittings fixtures and equipment
|
-
|
25 %
|
straight line
|
|
Motor vehicles
|
-
|
25 %
|
reducing balance
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
9
(2018:
4
).
5.
Tangible assets
|
|
Fixtures, fittings and equipment
|
Motor vehicles
|
Total
|
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
|
Cost
|
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At 1 November 2018
|
15,448
|
57,037
|
72,485
|
|
|
|
|
|
Additions
|
4,056
|
12,800
|
16,856
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 October 2019
|
19,504
|
69,837
|
89,341
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
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|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 November 2018
|
6,123
|
13,823
|
19,946
|
|
|
|
|
|
Charge for the year
|
4,463
|
13,470
|
17,933
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 October 2019
|
10,586
|
27,293
|
37,879
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 October 2019
|
8,918
|
42,544
|
51,462
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 October 2018
|
9,325
|
43,214
|
52,539
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
59,324
|
65,411
|
|
Other debtors
|
|
29,347
|
17,390
|
|
|
|
_______
|
_______
|
|
|
|
88,671
|
82,801
|
|
|
|
_______
|
_______
|
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
3,217
|
-
|
|
Trade creditors
|
|
37,727
|
10,117
|
|
Corporation tax
|
|
5,379
|
13,482
|
|
Social security and other taxes
|
|
29,437
|
23,931
|
|
Other creditors
|
|
22,542
|
2,848
|
|
|
|
_______
|
_______
|
|
|
|
98,302
|
50,378
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Included within other creditors are obligations under finance leases totalling £20,529 (2018 - £4,342) these are secured over the assets concerned.
8.
Creditors: amounts falling due after more than one year
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Other creditors
|
|
24,947
|
41,694
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Included within other creditors are obligations under finance leases totalling £24,947 (2018 - £41,694) these are secured over the assets concerned.
9.
Reserves
All other movement in reserves were as a result of profits and dividends
.
10.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company:
|
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|
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|
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|
2019
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Mr. D Silvester
|
(
137)
|
21,772
|
21,635
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Mr. D Silvester
|
(
425)
|
288
|
(
137)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
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|
Loans from directors are interest free and are repayable on demand.