Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-31false2023-06-01falseNo description of principal activity12falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06375261 2023-06-01 2024-05-31 06375261 2022-06-01 2023-05-31 06375261 2024-05-31 06375261 2023-05-31 06375261 c:Director2 2023-06-01 2024-05-31 06375261 d:FurnitureFittings 2024-05-31 06375261 d:FurnitureFittings 2023-05-31 06375261 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 06375261 d:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 06375261 d:FreeholdInvestmentProperty 2024-05-31 06375261 d:FreeholdInvestmentProperty 2023-05-31 06375261 d:CurrentFinancialInstruments 2024-05-31 06375261 d:CurrentFinancialInstruments 2023-05-31 06375261 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 06375261 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 06375261 d:ShareCapital 2024-05-31 06375261 d:ShareCapital 2023-05-31 06375261 d:OtherMiscellaneousReserve 2023-06-01 2024-05-31 06375261 d:OtherMiscellaneousReserve 2024-05-31 06375261 d:OtherMiscellaneousReserve 2023-05-31 06375261 d:RetainedEarningsAccumulatedLosses 2024-05-31 06375261 d:RetainedEarningsAccumulatedLosses 2023-05-31 06375261 c:FRS102 2023-06-01 2024-05-31 06375261 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 06375261 c:FullAccounts 2023-06-01 2024-05-31 06375261 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06375261 d:OtherDeferredTax 2024-05-31 06375261 d:OtherDeferredTax 2023-05-31 06375261 2 2023-06-01 2024-05-31 06375261 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 06375261









RAMCOM SYSTEMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
RAMCOM SYSTEMS LIMITED
REGISTERED NUMBER: 06375261

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,056
3,396

Investment property
 5 
900,000
900,000

  
903,056
903,396

Current assets
  

Debtors: amounts falling due within one year
 6 
2,710
19,000

Cash at bank and in hand
 7 
1,024
2,912

  
3,734
21,912

Creditors: amounts falling due within one year
 8 
(66,621)
(93,187)

Net current liabilities
  
 
 
(62,887)
 
 
(71,275)

Total assets less current liabilities
  
840,169
832,121

Provisions for liabilities
  

Deferred tax
 9 
(155,157)
(155,157)

  
 
 
(155,157)
 
 
(155,157)

Net assets
  
685,012
676,964


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
 10 
673,602
673,602

Profit and loss account
 10 
11,310
3,262

  
685,012
676,964


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 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.
Page 1

 
RAMCOM SYSTEMS LIMITED
REGISTERED NUMBER: 06375261
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
J Munnelly
Director
Date: 12 January 2025

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

Page 2

 
RAMCOM SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Ramcom Systems Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is R&R House, Northbridge Road, Berkhamsted, Hertfordshire, HP4 1EH. 
The Company's principal activity is that of property rental. 
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

 
2.2

Revenue

Revenue is recognised in the period in which the property rental relates to. Revenue is measured as
the fair value of the consideration received or receivable, excluding discounts, rebates, value added
tax and other sales taxes. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
RAMCOM SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet 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 balance sheet 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 balance sheet date.


 
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:

Property improvements
-
10%
reducing balance

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 4

 
RAMCOM SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by the directors and 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 Statement of income and retained earnings

 
2.8

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.

 
2.9

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.

 
2.10

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

2024
2023
£
£

Wages and salaries
21,321
19,938

Social security costs
2,154
1,626

23,475
21,564


The average monthly number of employees, including directors, during the year was 1 (2023 - 2).

Page 5

 
RAMCOM SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Property improvements

£



Cost or valuation


At 1 June 2023
7,100



At 31 May 2024

7,100



Depreciation


At 1 June 2023
3,704


Charge for the year on owned assets
340



At 31 May 2024

4,044



Net book value



At 31 May 2024
3,056



At 31 May 2023
3,396


5.


Investment property


Freehold investment property

£



Valuation


At 1 June 2023
900,000



At 31 May 2024
900,000

The 2024 valuations were made by the director, on an open market value for existing use basis.




Page 6

 
RAMCOM SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
-
19,000

Other debtors
2,710
-

2,710
19,000



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,024
2,912



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,393
20,242

Corporation tax
1,973
1,809

Other taxation and social security
607
479

Other creditors
58,653
68,653

Accruals and deferred income
1,995
2,004

66,621
93,187



9.


Deferred taxation




2024


£






At beginning of year
(155,157)



At end of year
(155,157)

Page 7

 
RAMCOM SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Investment property revaluation
155,157
155,157


10.


Reserves

Other reserves

Included in the other reserves is the revaluation of the freehold property.

 
Page 8