ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-10-312021-10-31falsetrue0The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.12020-10-28management consulting activities and executive coachingtrue 12980754 2020-10-27 12980754 2020-10-28 2021-10-31 12980754 2019-11-01 2020-10-27 12980754 2021-10-31 12980754 c:Director1 2020-10-28 2021-10-31 12980754 d:OfficeEquipment 2020-10-28 2021-10-31 12980754 d:OfficeEquipment 2021-10-31 12980754 d:OfficeEquipment d:OwnedOrFreeholdAssets 2020-10-28 2021-10-31 12980754 d:ComputerEquipment 2020-10-28 2021-10-31 12980754 d:ComputerEquipment 2021-10-31 12980754 d:ComputerEquipment d:OwnedOrFreeholdAssets 2020-10-28 2021-10-31 12980754 d:OwnedOrFreeholdAssets 2020-10-28 2021-10-31 12980754 d:CurrentFinancialInstruments 2021-10-31 12980754 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 12980754 d:ShareCapital 2021-10-31 12980754 d:RetainedEarningsAccumulatedLosses 2021-10-31 12980754 c:OrdinaryShareClass1 2020-10-28 2021-10-31 12980754 c:OrdinaryShareClass1 2021-10-31 12980754 c:FRS102 2020-10-28 2021-10-31 12980754 c:AuditExempt-NoAccountantsReport 2020-10-28 2021-10-31 12980754 c:FullAccounts 2020-10-28 2021-10-31 12980754 c:PrivateLimitedCompanyLtd 2020-10-28 2021-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12980754

SHUMULY LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2021


SHUMULY LTD

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 6


SHUMULY LTD REGISTERED NUMBER:12980754

STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2021

		2021
Note		£

Fixed assets
Tangible assets	4		4,712
			4,712
Current assets
Debtors: amounts falling due within one year	5	103,008
Cash at bank and in hand		133,953
Current liabilities		236,961
Creditors: amounts falling due within one year	6	(60,073)
Net current assets			176,888
Total assets less current liabilities			181,600

Net assets			181,600

Capital and reserves
Called up share capital			1
Profit and loss account			181,599
			181,600

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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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.

Page 1


SHUMULY LTD REGISTERED NUMBER:12980754

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 OCTOBER 2021

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 July 2022.

A Semaan

Director

The notes on pages 3 to 6 form part of these financial statements.

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SHUMULY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2021

1.	General information

Shumuly Limited is a limited liability company registered in England and Wales. Its registered office address is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire WD6 1JD.
The company was incorporated on 28 October 2020. The principal activity of the company during the period was that of management consulting activities and executive coaching.

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

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax and trade discounts.
Revenue is recognised in the period the services are performed.

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:

				Office equipment	-	25%
				Computer equipment	-	25%

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.

2.4

Basic financial instruments

The company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties.
Trade debtors and other debtors are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade

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SHUMULY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2021

2.Accounting policies (continued)

2.4

Basic financial instruments (continued)

and other debtors.
Cash and cash equivalents comprise cash balances and call deposits.

2.5

Current and deferred taxation

Tax is recognised in the Statement of Comprehensive Income, 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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
1) 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
2) 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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.6

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is £ sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

2.7

Dividends

Equity dividends are recognised when they become legally payable.

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SHUMULY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2021

Employees

The average monthly number of employees, including directors, during the period was 1.

4.	Tangible fixed assets

	Office equipment	Computer equipment	Total
	£	£	£
Cost or valuation
Additions	2,855	2,552	5,407
At 31 October 2021	2,855	2,552	5,407
Depreciation
Charge for the period on owned assets	437	258	695
At 31 October 2021	437	258	695
Net book value
At 31 October 2021	2,418	2,294	4,712

Debtors

					2021
					£


	Trade debtors	103,008

6.	Creditors: Amounts falling due within one year
		2021
		£

	Corporation tax	50,461
	Other taxation and social security	3,272
	Other creditors	2,440
	Accruals and deferred income	3,900
		60,073

Page 5


SHUMULY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2021

7.	Share capital
		2021
		£

		Allotted, called up and fully paid

		1 Ordinary share of £1.00	1

On incorporation of the company 1 Ordinary share of £1 was issued at par.

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