ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-10-312022-10-31true2021-11-01falsemanagement consulting activities and executive coaching11falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12980754 2021-11-01 2022-10-31 12980754 2020-10-28 2021-10-31 12980754 2022-10-31 12980754 2021-10-31 12980754 c:Director1 2021-11-01 2022-10-31 12980754 d:OfficeEquipment 2021-11-01 2022-10-31 12980754 d:OfficeEquipment 2022-10-31 12980754 d:OfficeEquipment 2021-10-31 12980754 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 12980754 d:ComputerEquipment 2021-11-01 2022-10-31 12980754 d:ComputerEquipment 2022-10-31 12980754 d:ComputerEquipment 2021-10-31 12980754 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 12980754 d:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 12980754 d:CurrentFinancialInstruments 2022-10-31 12980754 d:CurrentFinancialInstruments 2021-10-31 12980754 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 12980754 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 12980754 d:ShareCapital 2022-10-31 12980754 d:ShareCapital 2021-10-31 12980754 d:RetainedEarningsAccumulatedLosses 2022-10-31 12980754 d:RetainedEarningsAccumulatedLosses 2021-10-31 12980754 c:OrdinaryShareClass1 2021-11-01 2022-10-31 12980754 c:FRS102 2021-11-01 2022-10-31 12980754 c:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 12980754 c:FullAccounts 2021-11-01 2022-10-31 12980754 c:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 iso4217:GBP xbrli:pure

Registered number: 12980754

SHUMULY LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022


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 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	4		6,638		4,712
			6,638		4,712
Current assets
Debtors: amounts falling due within one year	5	39,642		103,008
Cash at bank and in hand		306,774		133,953
		346,416		236,961
Current liabilities
Creditors: amounts falling due within one year	6	(99,546)		(60,073)
Net current assets			246,870		176,888

Net assets			253,508		181,600

Capital and reserves
Called up share capital	1	1
Profit and loss account	253,507	181,599
	253,508	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 year 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 2022

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

A Semaan

Director

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

Page 2


SHUMULY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

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 principal activity of the company continued to be 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 YEAR ENDED 31 OCTOBER 2022

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 GBP.

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4


SHUMULY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

2.Accounting policies (continued)

2.7

Dividends

Equity dividends are recognised when they become legally payable.

Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

4.	Tangible fixed assets

	Office equipment	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 November 2021	2,855	2,552	5,407
Additions	820	2,948	3,768
At 31 October 2022	3,675	5,500	9,175
Depreciation
At 1 November 2021	437	258	695
Charge for the year on owned assets	671	1,171	1,842
At 31 October 2022	1,108	1,429	2,537
Net book value
At 31 October 2022	2,567	4,071	6,638

Debtors

					2022	2021
					£	£


Trade debtors	33,397	103,008
Prepayments and accrued income	6,245	-
	39,642	103,008

Page 5


SHUMULY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	1,066	-
Corporation tax	46,115	50,461
Other taxation and social security	34,113	3,272
Other creditors	13,962	2,440
Accruals and deferred income	4,290	3,900
	99,546	60,073

7.	Share capital
		2022	2021
		£	£

Allotted, called up and fully paid

1 Ordinary share of £1	1	1

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