Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30false2022-07-01trading subsidiary of a charity88truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01931038 2022-07-01 2023-06-30 01931038 2021-07-01 2022-06-30 01931038 2023-06-30 01931038 2022-06-30 01931038 2021-07-01 01931038 c:Director1 2022-07-01 2023-06-30 01931038 d:ComputerEquipment 2022-07-01 2023-06-30 01931038 d:ComputerEquipment 2023-06-30 01931038 d:ComputerEquipment 2022-06-30 01931038 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 01931038 d:CurrentFinancialInstruments 2023-06-30 01931038 d:CurrentFinancialInstruments 2022-06-30 01931038 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 01931038 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 01931038 d:ShareCapital 2022-07-01 2023-06-30 01931038 d:ShareCapital 2023-06-30 01931038 d:ShareCapital 2021-07-01 2022-06-30 01931038 d:ShareCapital 2022-06-30 01931038 d:ShareCapital 2021-07-01 01931038 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 01931038 d:RetainedEarningsAccumulatedLosses 2023-06-30 01931038 d:RetainedEarningsAccumulatedLosses 2021-07-01 2022-06-30 01931038 d:RetainedEarningsAccumulatedLosses 2022-06-30 01931038 d:RetainedEarningsAccumulatedLosses 2021-07-01 01931038 c:OrdinaryShareClass1 2022-07-01 2023-06-30 01931038 c:OrdinaryShareClass1 2023-06-30 01931038 c:OrdinaryShareClass1 2022-06-30 01931038 c:FRS102 2022-07-01 2023-06-30 01931038 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 01931038 c:FullAccounts 2022-07-01 2023-06-30 01931038 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 01931038 e:PoundSterling 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 01931038









 
SARUM COLLEGE SERVICES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023











Fletcher & Partners
Chartered Accountants
Salisbury

 
SARUM COLLEGE SERVICES LIMITED
REGISTERED NUMBER: 01931038

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,214
4,428

  
2,214
4,428

Current assets
  

Debtors: amounts falling due within one year
 6 
49,936
41,551

Cash at bank and in hand
 7 
344,143
139,586

  
394,079
181,137

Creditors: amounts falling due within one year
 8 
(390,749)
(177,807)

  

Net assets
  
5,544
7,758


Capital and reserves
  

Called up share capital 
 9 
10
10

Profit and loss account
  
5,534
7,748

  
5,544
7,758


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 D Manterfield
Director

Date: 22 November 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 1

 
SARUM COLLEGE SERVICES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 July 2021
10
1,327
1,337


Comprehensive income for the year

Profit for the year
-
89,693
89,693


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
89,693
89,693


Contributions by and distributions to owners

Dividends: Equity capital
-
(83,272)
(83,272)


Total transactions with owners
-
(83,272)
(83,272)


At 1 July 2022
10
7,748
7,758


Comprehensive income for the year

Profit for the year
-
219,722
219,722


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
219,722
219,722


Contributions by and distributions to owners

Dividends: Equity capital
-
(221,936)
(221,936)


Total transactions with owners
-
(221,936)
(221,936)


At 30 June 2023
10
5,534
5,544


The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SARUM COLLEGE SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Sarum College Services Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is 19 The Close, Salisbury, Wiltshire, SP1 2EE.

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.

 
2.2

Revenue

Revenue comprises income from accommodation, catering and conference facilities.

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

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, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%
Straight-line

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.

Page 3

 
SARUM COLLEGE SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.4

Debtors

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

 
2.5

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.

 
2.6

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

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
Page 4

 
SARUM COLLEGE SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.6
Financial instruments (continued)

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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

The Company only enters into basic financial instruments 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 payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

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
Page 5

 
SARUM COLLEGE SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.6
Financial instruments (continued)

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.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

No significant judgements have had to be made by management in preparing these financial statements.


4.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 8).

Page 6

 
SARUM COLLEGE SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 July 2022
6,641



At 30 June 2023

6,641



Depreciation


At 1 July 2022
2,213


Charge for the year on owned assets
2,214



At 30 June 2023

4,427



Net book value



At 30 June 2023
2,214



At 30 June 2022
4,428


6.


Debtors

2023
2022
£
£


Trade debtors
46,891
37,031

Prepayments and accrued income
3,045
4,520

49,936
41,551



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
344,143
139,586


Page 7

 
SARUM COLLEGE SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
100,874

Amounts owed to group undertakings
342,577
43,714

Other taxation and social security
23,837
13,905

Other creditors
19,800
17,914

Accruals and deferred income
4,535
1,400

390,749
177,807



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10 (2022 - 10) Ordinary shares of £1.00 each
10
10



10.


Controlling party

The company is a wholly owned subsidiary of Sarum College, a UK registered charity, whose registered office is 19 The Close, Salisbury, Wiltshire, SP1 2EE.


Page 8