SE Associates Limited Filleted accounts for Companies House (small and micro)

SE ASSOCIATES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 11332696

SE Associates Limited

Filleted Unaudited Financial Statements

For the year ended

30 September 2022

SE Associates Limited

Financial Statements

Year ended 30 September 2022

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

SE Associates Limited

Statement of Financial Position

30 September 2022

	2022		2021
Note	£	£	£	£

Fixed assets

Tangible assets	5		522		782

Current assets

Debtors	6	2,903	3,843
Cash at bank and in hand		955	6,360
		-------	--------
		3,858	10,203

Creditors: amounts falling due within one year	7	( 11,957)		( 9,177)
		--------		--------
Net current (liabilities)/assets			( 8,099)		1,026
			-------		-------
Total assets less current liabilities			( 7,577)		1,808
			-------		-------
Net (liabilities)/assets			( 7,577)		1,808
			-------		-------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 7,677)	1,708
	-------	-------
Shareholders funds	( 7,577)	1,808
	-------	-------

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 year ending 30 September 2022 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 year in question in accordance with section 476 ;

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

SE Associates Limited

Statement of Financial Position (continued)

30 September 2022

These financial statements were approved by the board of directors and authorised for issue on 29 June 2023 , and are signed on behalf of the board by:

Dr S E Pollard
Director

Company registration number: 11332696

SE Associates Limited

Notes to the Financial Statements

Year ended 30 September 2022

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 Old Stables, Heck Lane, Hensall, Goole, North Humberside, DN14 0RD.

2. Statement of compliance

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

3. Accounting policies

(a) 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 balance sheet at 30 September 2022 shows that liabilities exceeded assets by £7,577, including liabilities to the company's director totalling £10,112. The company relies on the continued support of the director to enable it to continue normal trading activities, which the director confirms will be made available for the foreseeable future. The accounts are therefore prepared on a going concern basis.

(b) Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered and stated net of discounts.

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 be paid or recovered 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.

(d) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(e) 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:

	Equipment	-	33% reducing balance

(f) Impairment of fixed assets

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.

(g) Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).

5. Tangible assets

	Equipment
	£
Cost
At 1 October 2021 and 30 September 2022	2,756
	-------
Depreciation
At 1 October 2021	1,974
Charge for the year	260
	-------
At 30 September 2022	2,234
	-------
Carrying amount
At 30 September 2022	522
	-------
At 30 September 2021	782
	-------

6. Debtors

	2022	2021
	£	£
Trade debtors	261	–
Corporation tax recovery	1,646	2,473
Other debtors	996	1,370
	-------	-------
	2,903	3,843
	-------	-------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Accruals	1,845	900
Director loan accounts	10,112	8,277
	--------	-------
	11,957	9,177
	--------	-------

8. Related party transactions

The Director had a loan account with the company during the year. The total balance owed by the company to the director at the year end was £10,112 (2021: £8,277). The loan is interest free and repayable on demand .