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Registration number: 08812769

Someluck Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2022

 

Someluck Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 7

 

Someluck Limited

Company Information

Director

K Ahlberg

Registered office

Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

Accountants

Harmer Slater Limited
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

Someluck Limited

(Registration number: 08812769)
Statement of Financial Position as at 31 December 2022

Note

2022
£

2021
£

Non-current assets

 

Investments

4

-

2,350

Current assets

 

Receivables

5

9,587

43,295

Cash at bank

 

2,012

3,252

 

11,599

46,547

Payables: Amounts falling due within one year

6

(8,835)

(12,434)

Net current assets

 

2,764

34,113

Net assets

 

2,764

36,463

Equity

 

Called up share capital

7

1

1

Retained earnings

7

2,763

36,462

Shareholders' funds

 

2,764

36,463

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income statement.

The financial statements of Someluck Limited were approved and authorised for issue by the director on 28 September 2023
 

.........................................

K Ahlberg
Director

 

Someluck Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2022

1

General information

Someluck Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2

Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The director is satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the company’s financial statements.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and in accordance with the Companies Act 2006. There were no material departures from that standard.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Summary of disclosure exemptions

The company meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its separate financial statements.
The company is consolidated in the financial statements of its parent Pejoka Invest Ltd, which may be obtained from Nazou 4 Street, 1st Floor, Office 101, 1070 Nicosia, Cyprus. Exemptions have been taken in these separate company financial statements in relation to financial instruments, presentation of a cash flow statement, transactions with group entities and remuneration of key management personnel.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Someluck Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2022 (continued)

2

Accounting policies (continued)

The tax expense for the period comprises current tax. Tax is recognised in comprehensive income, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Investments

Investments which comprise investments in non publicly traded equity shares whose fair value cannot be measured reliably are measured at historic cost less impairment. Dividends on equity shares are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and are subject to an insignificant risk of change in value.

Receivables

Receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Payables

Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

 

Someluck Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2022 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2021 - 0).

4

Investments

2022
£

2021
£

Investments in associates

-

2,350

Details of undertakings

Someluck Limited disposed of its whole investment in Kamsfast Sveige AB (a company incorporated in Sweden).

The investment held in Kams Ormsta AB (a company incorporated in Sweden) was by virtue of the investment held in Kamsfast Sveige AB.

At the year end, the company had no investments in any associated undertakings.

5

Receivables

2022
£

2021
£

Amounts owed by parent undertakings

4,326

6,955

Amounts owed by group undertakings

-

13,804

Other receivables

5,261

5,261

Accrued income

-

17,275

9,587

43,295

The amount owed by parent undertaking disclosed as falling within one year is unsecured and repayable on demand and is non-interest bearing.

 

Someluck Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2022 (continued)

6

Payables

2022
£

2021
£

Due within one year

Director's current account

7,533

11,170

Accruals

1,302

1,264

8,835

12,434

The amount due to parent undertaking disclosed as falling within one year is unsecured, payable on demand and is non-interest bearing.

7

Share capital and reserves

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1

1

1

1

1

         


Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.

8

Related party transactions

At 31 December 2022 the amount due from Pejoka Invest Ltd, the parent undertaking was £4,326 (2021: £6,955). This loan is repayable on demand and interest free.

At 31 December 2022 the amount due to the Director was £7,533 (2021: £11,170). This loan is repayable on demand and interest free.

Kamsfast Sverige AB, was an undertaking in which the company has a participating interest, The company disposed of its investment in Kamsfast Sveige AB. The outstanding loan of £13,804 and accrued interest of £17,275 as at 31 December 2021 were written off during 2022 as the amounts were no longer recoverable. At 31 December 2022 amount due from Kamsfast Sverige AB was £Nil (2021: £13,804).

 

 

Someluck Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2022 (continued)

9

Parent and ultimate parent undertaking

The company is controlled by Pejoka Invest Ltd, an undertaking registered in Cyprus, by virtue of its 100% shareholding in the company.

10

Events after the financial period

There have been no significant events between the year end and the date of approval of these accounts which would require a change to, or disclosure in, the financial statements.