Caseware UK (AP4) 2021.0.152 2021.0.152 2022-02-282022-02-28truetrue2021-03-01falseNo description of principal activity22The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10637208 2021-03-01 2022-02-28 10637208 2020-03-01 2021-02-28 10637208 2022-02-28 10637208 2021-02-28 10637208 c:Director1 2021-03-01 2022-02-28 10637208 d:CurrentFinancialInstruments 2022-02-28 10637208 d:CurrentFinancialInstruments 2021-02-28 10637208 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 10637208 d:CurrentFinancialInstruments d:WithinOneYear 2021-02-28 10637208 d:ShareCapital 2022-02-28 10637208 d:ShareCapital 2021-02-28 10637208 d:RetainedEarningsAccumulatedLosses 2022-02-28 10637208 d:RetainedEarningsAccumulatedLosses 2021-02-28 10637208 c:FRS102 2021-03-01 2022-02-28 10637208 c:AuditExempt-NoAccountantsReport 2021-03-01 2022-02-28 10637208 c:FullAccounts 2021-03-01 2022-02-28 10637208 c:PrivateLimitedCompanyLtd 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure
Registered number: 10637208









SARUMS LIMITED
UNAUDITED


FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 28 FEBRUARY 2022



















Fletcher & Partners
Chartered Accountants
Salisbury

 
SARUMS LIMITED
REGISTERED NUMBER: 10637208

BALANCE SHEET
AS AT 28 FEBRUARY 2022

2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
7,584
7,902

Cash at bank and in hand
  
39,060
16,615

  
46,644
24,517

Creditors: amounts falling due within one year
 5 
(35,280)
(35,575)

Net current assets/(liabilities)
  
 
 
11,364
 
 
(11,058)

Total assets less current liabilities
  
11,364
(11,058)

  

Net assets/(liabilities)
  
11,364
(11,058)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
11,264
(11,158)

  
11,364
(11,058)


The directors consider 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 directors acknowledge their 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 comprehensive income 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 Phillips
Director

Date: 7 September 2022

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
SARUMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

1.


General information

Sarums Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Crown Chambers, Bridge Street, Salisbury, Wiltshire, SP1 2LZ

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

Going concern

The directors assess whether the use of the going concern basis is appropriate, i.e. whether there are material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. 
The COVID-19 pandemic has had an impact on the company for the year to 28 February 2021. The emergency measures imposed by Governments across the world has resulted in a reduction in sales for Sarums Limited. The directors are working to minimise the impact of the exceptional challenges caused by the pandemic and the measures taken by the Government to control it. 

 
2.3

Foreign currency translation

The Company's functional and presentational currency is GBP.
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency assets and liabilities are translated using the spot exchange rate at the balance sheet date.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 2

 
SARUMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

2.Accounting policies (continued)

 
2.5

Taxation

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.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

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.

 
2.8

Creditors

Short term creditors are measured at the transaction price.

 
2.9

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 non-puttable ordinary shares. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.


3.


Employees

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


4.


Debtors

2022
2021
£
£


Trade debtors
7,318
7,642

Other debtors
266
260

7,584
7,902


Page 3

 
SARUMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

5.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
624
1,169

Corporation tax
2,681
-

Other creditors
25,940
25,935

Accruals and deferred income
6,035
8,471

35,280
35,575



Page 4