Caseware UK (AP4) 2022.0.179 2022.0.179 2022-01-01truefalseproperty investment12trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03667988 2022-01-01 2022-12-31 03667988 2021-01-01 2021-12-31 03667988 2022-12-31 03667988 2021-12-31 03667988 2021-01-01 03667988 c:Director1 2022-01-01 2022-12-31 03667988 d:LeaseholdInvestmentProperty 2022-12-31 03667988 d:LeaseholdInvestmentProperty 2021-12-31 03667988 d:CurrentFinancialInstruments 2022-12-31 03667988 d:CurrentFinancialInstruments 2021-12-31 03667988 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03667988 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 03667988 d:ShareCapital 2022-12-31 03667988 d:ShareCapital 2021-12-31 03667988 d:ShareCapital 2021-01-01 03667988 d:InvestmentPropertiesRevaluationReserve 2022-12-31 03667988 d:InvestmentPropertiesRevaluationReserve 2021-12-31 03667988 d:InvestmentPropertiesRevaluationReserve 2021-01-01 03667988 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 03667988 d:RetainedEarningsAccumulatedLosses 2022-12-31 03667988 d:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 03667988 d:RetainedEarningsAccumulatedLosses 2021-12-31 03667988 d:RetainedEarningsAccumulatedLosses 2021-01-01 03667988 c:FRS102 2022-01-01 2022-12-31 03667988 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 03667988 c:FullAccounts 2022-01-01 2022-12-31 03667988 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 03667988 6 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure
Registered number: 03667988





 
Saromi Limited          
 
Financial statements          

For the year ended 31 December 2022          

 
Saromi Limited
Registered number:03667988

Balance sheet
As at 31 December 2022


2022

2021 
                                                                                    Note
£
£
£
£

Fixed assets
  

Investments
 4 
68,129
68,129

Investment property
 5 
296,687
296,687

  
364,816
364,816

Current assets
  

Debtors
 6 
229
229

Cash at bank and in hand
  
45,096
43,944

  
45,325
44,173

Creditors: amounts falling due within one year
 7 
(247,925)
(253,359)

Net current liabilities
  
 
 
(202,600)
 
 
(209,186)

  

Net assets
  
162,216
155,630


Capital and reserves
  

Called up share capital 
  
125,000
125,000

Investment property revaluation reserve
  
7,466
7,466

Profit and loss account
  
29,750
23,164

  
162,216
155,630


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 her 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 company has opted not to file the profit and loss account 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 on 30 September 2023.


R.A. Newton
Director

The notes on pages 3 to 7 form part of these financial statements.
Page 1

 
Saromi Limited
 

Statement of changes in equity
For the year ended 31 December 2022


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2022
125,000
7,466
23,164
155,630



Profit for the year
-
-
6,586
6,586


At 31 December 2022
125,000
7,466
29,750
162,216



 
 
 
 
 
Statement of changes in equity
For the year ended 31 December 2021


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2021
125,000
7,466
23,288
155,754



Loss for the year
-
-
(124)
(124)


At 31 December 2021
125,000
7,466
23,164
155,630











The notes on pages 3 to 7 form part of these financial statements. 
Page 2

 
Saromi Limited
 
 
Notes to the financial statements
For the year ended 31 December 2022

1.


General information

Saromi Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex, SS11 7HQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006

 
2.2

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Investment property

Investment property is carried at fair value as determined annually by the director, having regard to professional advice taken personally, and is 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 Profit and Loss account.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

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.

 
2.6

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.

Page 3

 
Saromi Limited
 
 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

 
2.7

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
 

Page 4

 
Saromi Limited
 
 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)


2.7
Financial instruments (continued)

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

 
2.8

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.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2022
        2021
            No.
            No.







Directors
1
2


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


At 1 January 2022
68,129



At 31 December 2022
68,129




Page 5

 
Saromi Limited
 
 
Notes to the financial statements
For the year ended 31 December 2022

5.


Investment property


Long term leasehold investment property

£



Valuation


At 1 January 2022
296,687



At 31 December 2022
296,687

The 2022 valuations were made by the director, having regard to professional advice taken personally, on an open market value for existing use basis.



If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2022
2021
£
£


Historic cost
289,222
289,222

Accumulated depreciation and impairments
-
-

289,222
289,222


6.


Debtors

2022
2021
£
£


Prepayments and accrued income
229
229



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
61
-

Amounts owed to associated company
72,139
72,139

Other creditors
173,654
178,375

Accruals and deferred income
2,071
2,845

247,925
253,359


Page 6

 
Saromi Limited
 
 
Notes to the financial statements
For the year ended 31 December 2022
 


8.


Related party transactions

At the balance sheet date the company owed £72,139 (2021 - £72,139) to Bureau Club Limited, an associated company. No interest was charged on the loan.

 


 

Page 7