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Registered number: 12581845
















SAMM SOFTWARE SERVICES LTD


UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

































SAMM SOFTWARE SERVICES LTD
REGISTERED NUMBER:12581845

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
744
1,119

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
32,175
42,811

Cash at bank and in hand
  
9,306
44,149

  
41,481
86,960

Creditors: amounts falling due within one year
 6 
(689,064)
(633,008)

NET CURRENT LIABILITIES
  
(647,583)
(546,048)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
(646,839)
(544,929)

  

NET LIABILITIES
  
(646,839)
(544,929)


CAPITAL AND RESERVES
  

Called up share capital 
 7 
100
100

Profit and loss account
 8 
(646,939)
(545,029)

  
(646,839)
(544,929)


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: 





A J Drew
Director

Date: 16 July 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1


SAMM SOFTWARE SERVICES LTD

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

1.


GENERAL INFORMATION

SAMM Software Services Ltd is a private company limited by shares incorporated in England and Wales. The address of the registered office is Unit 27 Weston Industrial Estate, Honeybourne, Evesham, Worcestershire, WR11 7QU. 
The Company's functional and presentational currency is GBP, and the Financial Statements are rounded to the nearest GBP.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The Directors continue to adopt the going concern basis in preparing the financial statements as they believe the company has adequate resources and support to continue in operational existence for the foreseeable future.
In particular, a company with common Directors, George Willcox (Granite) Limited, has confirmed  that  it  will  not  seek  the  repayment  of  amounts  loaned  to  the  company  for  at  least  12 months from the date of approval of these financial statements, or only at such point as cash flow and working capital allows.
In addition, George Willcox (Granite) Limited has confirmed that it will continue to provide working capital support as required for at least 12 months from the date of approval of these financial statements.
On this basis, the financial statements have been prepared on a going concern basis.

Page 2


SAMM SOFTWARE SERVICES LTD

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

2.ACCOUNTING POLICIES (continued)

 
2.3

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.

 
2.4

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
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 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.

Page 3


SAMM SOFTWARE SERVICES LTD

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

2.ACCOUNTING POLICIES (continued)

 
2.6

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment
-
33%

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.

 
2.7

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.

 
2.8

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.

 
2.9

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 directors, during the year was 2 (2022: 4).

Page 4


SAMM SOFTWARE SERVICES LTD

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

4.


TANGIBLE FIXED ASSETS





Computer equipment

£



COST OR VALUATION


At 1 January 2023
2,333



At 31 December 2023

2,333



DEPRECIATION


At 1 January 2023
1,214


Charge for the year on owned assets
375



At 31 December 2023

1,589



NET BOOK VALUE



At 31 December 2023
744



At 31 December 2022
1,119


5.


DEBTORS

2023
2022
£
£


Other debtors
1,569
6,170

Prepayments and accrued income
-
6,000

Tax recoverable
30,606
30,641

32,175
42,811



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
25,378
19,616

Other taxation and social security
3,686
2,731

Other creditors
657,240
607,901

Accruals and deferred income
2,760
2,760

689,064
633,008


Page 5


SAMM SOFTWARE SERVICES LTD

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

7.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2022: 100) Ordinary shares of £1.00 each
100
100



8.


RESERVES

Profit and loss account

This reserve includes all current and prior periods retained profits and losses.


9.


PENSION COMMITMENTS

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charges represent contributions payable by those companies to the respective funds and amounted to £2,216 (2022: £2,361). As at the year end contributions totalling £438 (2022: £691) were payable to the funds by the Company and are included within other creditors.


10.


RELATED PARTY TRANSACTIONS

From 27 September 2022, SAMM Software Services Limited was no longer part of the 100% wholly owned group The Willcox Group Limited, as it was disposed of by the Owner. The Company is now related to Willcox Group Holdings Limited and its subsidiaries, which includes The Willcox Group Limited from the above date, by virtue of common directors, and transactions and balances since this date are as follows:

2023
2022
£
£

Income from connected parties
132,000
33,000
Expenditure to connected parties
26,400
7,920
Amounts owed to connected parties
663,138
607,210
821,538
648,130

 
Page 6