Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-06-01falseNo description of principal activity22truetrue 06597232 2022-06-01 2023-05-31 06597232 2021-06-01 2022-05-31 06597232 2023-05-31 06597232 2022-05-31 06597232 c:Director1 2022-06-01 2023-05-31 06597232 d:PlantMachinery 2022-06-01 2023-05-31 06597232 d:FurnitureFittings 2022-06-01 2023-05-31 06597232 d:FurnitureFittings 2023-05-31 06597232 d:FurnitureFittings 2022-05-31 06597232 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 06597232 d:ComputerEquipment 2022-06-01 2023-05-31 06597232 d:ComputerEquipment 2023-05-31 06597232 d:ComputerEquipment 2022-05-31 06597232 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 06597232 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 06597232 d:CurrentFinancialInstruments 2023-05-31 06597232 d:CurrentFinancialInstruments 2022-05-31 06597232 d:Non-currentFinancialInstruments 2023-05-31 06597232 d:Non-currentFinancialInstruments 2022-05-31 06597232 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 06597232 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 06597232 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 06597232 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 06597232 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 06597232 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-05-31 06597232 d:ShareCapital 2023-05-31 06597232 d:ShareCapital 2022-05-31 06597232 d:RetainedEarningsAccumulatedLosses 2023-05-31 06597232 d:RetainedEarningsAccumulatedLosses 2022-05-31 06597232 c:FRS102 2022-06-01 2023-05-31 06597232 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 06597232 c:FullAccounts 2022-06-01 2023-05-31 06597232 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure
Company registration number: 06597232







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2023


CUMI LTD






































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CUMI LTD
REGISTERED NUMBER:06597232



STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,371
-

  
2,371
-

Current assets
  

Stocks
  
55,365
91,045

Debtors: amounts falling due within one year
 5 
102
2,350

Cash at bank and in hand
 6 
10,596
16,455

  
66,063
109,850

Creditors: amounts falling due within one year
 7 
(47,534)
(79,140)

Net current assets
  
 
 
18,529
 
 
30,710

Total assets less current liabilities
  
20,900
30,710

Creditors: amounts falling due after more than one year
  
(20,747)
(30,494)

  

Net assets
  
153
216


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
53
116

  
153
216


Page 1

 


CUMI LTD
REGISTERED NUMBER:06597232


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

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 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: 




................................................
Nina Kessler
Director

Date: 5 March 2024

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

Page 2

 


CUMI LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Cumi Ltd is a private company, limited by shares, registered in England and Wales. The company's registered
number and registered office address can be found on the Company Information page.
The presentation currency of the financial statements is the Pound Sterling (£).

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 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.

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.

Page 3

 


CUMI LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.3

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 reporting 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 reporting 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 reporting date.

 
2.4

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:

Plant and machinery
-
50% and 25% on cost

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.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Financial instruments

Page 4

 


CUMI LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)


2.6
Financial instruments (continued)

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


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 June 2022
7,322
50,378
57,700


Additions
-
3,355
3,355



At 31 May 2023

7,322
53,733
61,055



Depreciation


At 1 June 2022
7,322
50,378
57,700


Charge for the year on owned assets
-
984
984



At 31 May 2023

7,322
51,362
58,684



Net book value



At 31 May 2023
-
2,371
2,371



At 31 May 2022
-
-
-


5.


Debtors

2023
2022
£
£


Trade debtors
102
2,350

102
2,350


Page 5

 


CUMI LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
10,596
16,455

10,596
16,455



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
19,414
18,925

Corporation tax
539
1,109

Other taxation and social security
3,458
2,898

Other creditors
12,223
44,308

Accruals and deferred income
1,900
1,900

47,534
79,140



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
20,747
30,494

20,747
30,494


Page 6

 


CUMI LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
20,747
30,494


20,747
30,494



30,747
40,494



10.


Transactions with directors

At the balance sheet date the company owed £7,816 to the directors. The balance can be found within creditors due within one year. No interest is being charged on this loan.

 
Page 7