Caseware UK (AP4) 2021.0.152 2021.0.152 2022-05-312022-05-3122021-06-01falseNo description of principal activity2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06375261 2021-06-01 2022-05-31 06375261 2020-06-01 2021-05-31 06375261 2022-05-31 06375261 2021-05-31 06375261 c:Director1 2021-06-01 2022-05-31 06375261 d:FurnitureFittings 2022-05-31 06375261 d:FurnitureFittings 2021-05-31 06375261 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 06375261 d:OtherPropertyPlantEquipment 2021-06-01 2022-05-31 06375261 d:FreeholdInvestmentProperty 2022-05-31 06375261 d:FreeholdInvestmentProperty 2021-05-31 06375261 d:CurrentFinancialInstruments 2022-05-31 06375261 d:CurrentFinancialInstruments 2021-05-31 06375261 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 06375261 d:CurrentFinancialInstruments d:WithinOneYear 2021-05-31 06375261 d:ShareCapital 2022-05-31 06375261 d:ShareCapital 2021-05-31 06375261 d:OtherMiscellaneousReserve 2021-06-01 2022-05-31 06375261 d:OtherMiscellaneousReserve 2022-05-31 06375261 d:OtherMiscellaneousReserve 2021-05-31 06375261 d:RetainedEarningsAccumulatedLosses 2022-05-31 06375261 d:RetainedEarningsAccumulatedLosses 2021-05-31 06375261 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-05-31 06375261 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-05-31 06375261 c:FRS102 2021-06-01 2022-05-31 06375261 c:AuditExempt-NoAccountantsReport 2021-06-01 2022-05-31 06375261 c:FullAccounts 2021-06-01 2022-05-31 06375261 c:PrivateLimitedCompanyLtd 2021-06-01 2022-05-31 06375261 d:OtherDeferredTax 2022-05-31 06375261 d:OtherDeferredTax 2021-05-31 06375261 2 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure

Registered number: 06375261









RAMCOM SYSTEMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2022

 
RAMCOM SYSTEMS LIMITED
REGISTERED NUMBER: 06375261

BALANCE SHEET
AS AT 31 MAY 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,773
4,192

Investment property
 5 
900,000
900,000

  
903,773
904,192

Current assets
  

Debtors: amounts falling due within one year
 6 
1,603
17,000

Cash at bank and in hand
 7 
5,378
769

  
6,981
17,769

Creditors: amounts falling due within one year
 8 
(85,966)
(111,700)

Net current liabilities
  
 
 
(78,985)
 
 
(93,931)

Total assets less current liabilities
  
824,788
810,261

Provisions for liabilities
  

Deferred tax
 10 
(117,919)
(117,919)

  
 
 
(117,919)
 
 
(117,919)

Net assets
  
706,869
692,342


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
 11 
673,602
673,602

Profit and loss account
 11 
33,167
18,640

  
706,869
692,342


Page 1

 
RAMCOM SYSTEMS LIMITED
REGISTERED NUMBER: 06375261
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
M Munnelly
Director
Date: 12 September 2022

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
RAMCOM SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

1.


General information

Ramcom Systems Limited Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is R&R House, Northbridge Road, Berkhamsted, Hertfordshire, HP4 1EH. The company's principal activity is that of property rental. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised in the period in which the property rental relates to. Revenue is measured as
the fair value of the consideration received or receivable, excluding discounts, rebates, value added
tax and other sales taxes. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 3

 
RAMCOM SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Property improvements
-
10%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of income and retained earnings

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
RAMCOM SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

Page 5

 
RAMCOM SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

4.


Tangible fixed assets





Property Improvements

£



Cost or valuation


At 1 June 2021
7,100



At 31 May 2022

7,100



Depreciation


At 1 June 2021
2,908


Charge for the year on owned assets
419



At 31 May 2022

3,327



Net book value



At 31 May 2022
3,773



At 31 May 2021
4,192


5.


Investment property


Freehold investment property

£



Valuation


At 1 June 2021
900,000



At 31 May 2022
900,000

The 2022 valuations were made by the directors, on an open market value for existing use basis.




Page 6

 
RAMCOM SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

6.


Debtors

2022
2021
£
£


Trade debtors
1,603
17,000

1,603
17,000



7.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
5,378
769

5,378
769



8.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
675
9,842

Corporation tax
3,506
3,378

Other taxation and social security
1,513
525

Other creditors
78,103
94,603

Accruals and deferred income
2,169
3,352

85,966
111,700


Page 7

 
RAMCOM SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

9.


Financial instruments

2022
2021
£
£

Financial assets


Financial assets measured at fair value through profit or loss
5,378
769




Financial assets measured at fair value through profit or loss comprise of cash at bank.

Page 8

 
RAMCOM SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

10.


Deferred taxation




2022


£






At beginning of year
(117,919)



At end of year
(117,919)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Investment Property revaluation
(117,919)
(117,919)

(117,919)
(117,919)


11.


Reserves

Other reserves

Included in the other reserves is the revaluation of the freehold property.

 
Page 9