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REGISTERED NUMBER: 02221540 (England and Wales)











































Sarumcastle Limited

Unaudited Financial Statements

for the Year Ended 29th June 2024






Sarumcastle Limited (Registered number: 02221540)






Contents of the Financial Statements
for the year ended 29th June 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


Sarumcastle Limited

Company Information
for the year ended 29th June 2024







Directors: P D Laverack
P J Evans





Registered office: Halidon House
17D Windmill Way West
Ramparts Business Park
Berwick Upon Tweed
Northumberland
TD15 1TB





Business address: Waren House
Waren Mill
Belford
Northumberland
NE70 7EE





Registered number: 02221540 (England and Wales)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Sarumcastle Limited (Registered number: 02221540)

Balance Sheet
29th June 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 64,454 16,822
Investments 5 5,399 5,399
Investment property 6 1,500,000 919,755
1,569,853 941,976

Current assets
Debtors 7 208,733 29,241
Cash at bank 9,376 17,716
218,109 46,957
Creditors
Amounts falling due within one year 8 354,206 472,397
Net current liabilities (136,097 ) (425,440 )
Total assets less current liabilities 1,433,756 516,536

Provisions for liabilities 122,230 -
Net assets 1,311,526 516,536

Capital and reserves
Called up share capital 50,000 50,000
Revaluation reserve 9 469,998 -
Retained earnings 791,528 466,536
1,311,526 516,536

Sarumcastle Limited (Registered number: 02221540)

Balance Sheet - continued
29th June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7th February 2025 and were signed on its behalf by:





P D Laverack - Director


Sarumcastle Limited (Registered number: 02221540)

Notes to the Financial Statements
for the year ended 29th June 2024

1. Statutory information

Sarumcastle Limited 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.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the total value, excluding value added tax, of rental income received during the year.

Turnover is recognised immediately when the amounts have been received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 4% on cost
Fixtures and fittings - 10% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, intercompany loans, accruals and directors' loans.

Directors' loans (being repayable on demand), trade debtors, trade creditors, intercompany loans and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at 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 income statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Sarumcastle Limited (Registered number: 02221540)

Notes to the Financial Statements - continued
for the year ended 29th June 2024

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Going concern
The directors have considered the company's financial position for a period of 12 months and beyond from the date of signing these financial statements and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

4. Tangible fixed assets
Improvements Fixtures
to and
property fittings Totals
£    £    £   
Cost
At 30th June 2023 12,191 74,161 86,352
Additions 46,696 3,107 49,803
At 29th June 2024 58,887 77,268 136,155
Depreciation
At 30th June 2023 - 69,530 69,530
Charge for year 1,353 818 2,171
At 29th June 2024 1,353 70,348 71,701
Net book value
At 29th June 2024 57,534 6,920 64,454
At 29th June 2023 12,191 4,631 16,822

Sarumcastle Limited (Registered number: 02221540)

Notes to the Financial Statements - continued
for the year ended 29th June 2024

5. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 30th June 2023
and 29th June 2024 5,399
Net book value
At 29th June 2024 5,399
At 29th June 2023 5,399

6. Investment property
Total
£   
Fair value
At 30th June 2023 919,755
Revaluations 580,245
At 29th June 2024 1,500,000
Net book value
At 29th June 2024 1,500,000
At 29th June 2023 919,755

Fair value at 29th June 2024 is represented by:
£   
Valuation in 2024 580,245
Cost 919,755
1,500,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 919,755 919,755

Investment property was valued on an open market basis on 11th June 2024 by NFU Mutual .

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors - 10,000
Amounts owed by group undertakings 203,441 -
Other debtors 5,292 19,241
208,733 29,241

Sarumcastle Limited (Registered number: 02221540)

Notes to the Financial Statements - continued
for the year ended 29th June 2024

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 2,803 46,739
Amounts owed to group undertakings - 33,019
Taxation and social security 9,912 -
Other creditors 341,491 392,639
354,206 472,397

9. Reserves
Revaluation
reserve
£   
Property revaluation 580,245
Deferred tax adjustment (110,247 )

At 29th June 2024 469,998

10. Related party disclosures

At 29th June 2024 a loan of £203,441(2023 - £nil) was outstanding payable to the company by Ann Arbor Publishers Limited, subsidiary of Sarumcastle Limited. This loan is unsecured, interest free and is repayable on demand.

At 29th June 2024 a loan of £nil (2023 - £33,019) was outstanding payable by the company to Ann Arbor Publishers Limited, a subsidiary of Sarumcastle Limited. This loan is unsecured, interest free and is payable on demand