ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31false2022-11-01management consulting activities and executive coaching11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12980754 2022-11-01 2023-10-31 12980754 2021-11-01 2022-10-31 12980754 2023-10-31 12980754 2022-10-31 12980754 c:Director1 2022-11-01 2023-10-31 12980754 d:OfficeEquipment 2022-11-01 2023-10-31 12980754 d:OfficeEquipment 2023-10-31 12980754 d:OfficeEquipment 2022-10-31 12980754 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 12980754 d:ComputerEquipment 2022-11-01 2023-10-31 12980754 d:ComputerEquipment 2023-10-31 12980754 d:ComputerEquipment 2022-10-31 12980754 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 12980754 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 12980754 d:CurrentFinancialInstruments 2023-10-31 12980754 d:CurrentFinancialInstruments 2022-10-31 12980754 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 12980754 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 12980754 d:ShareCapital 2023-10-31 12980754 d:ShareCapital 2022-10-31 12980754 d:RetainedEarningsAccumulatedLosses 2023-10-31 12980754 d:RetainedEarningsAccumulatedLosses 2022-10-31 12980754 c:OrdinaryShareClass1 2022-11-01 2023-10-31 12980754 c:FRS102 2022-11-01 2023-10-31 12980754 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 12980754 c:FullAccounts 2022-11-01 2023-10-31 12980754 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12980754 2 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 12980754

SHUMULY LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023


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 2023

		2023		2022
Note		£		£

Fixed assets
Tangible assets	4		7,935		6,638
			7,935		6,638
Current assets
Debtors: amounts falling due within one year	5	82,820		39,642
Cash at bank and in hand		190,622		306,774
		273,442		346,416
Current liabilities
Creditors: amounts falling due within one year	6	(76,900)		(99,546)
Net current assets			196,542		246,870

Net assets			204,477		253,508

Capital and reserves
Called up share capital	7	1	1
Profit and loss account		204,476	253,507
		204,477	253,508

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.

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SHUMULY LTD REGISTERED NUMBER:12980754

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 OCTOBER 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 February 2024.

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 YEAR ENDED 31 OCTOBER 2023

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 2023

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

Interest income

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

2.6

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.

2.7

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.

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SHUMULY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

2.8

Dividends

Equity dividends are recognised when they become legally payable.

Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

4.	Tangible fixed assets

	Office equipment	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 November 2022	3,675	5,500	9,175
Additions	-	3,712	3,712
At 31 October 2023	3,675	9,212	12,887
Depreciation
At 1 November 2022	1,108	1,429	2,537
Charge for the year on owned assets	642	1,773	2,415
At 31 October 2023	1,750	3,202	4,952
Net book value
At 31 October 2023	1,925	6,010	7,935

Debtors

					2023	2022
					£	£


Trade debtors	78,321	33,397
Prepayments and accrued income	4,499	6,245
	82,820	39,642

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SHUMULY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

6.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Trade creditors	91	1,066
Corporation tax	65,125	46,115
Other taxation and social security	3,543	34,113
Other creditors	3,714	13,962
Accruals and deferred income	4,427	4,290
	76,900	99,546

7.	Share capital
		2023	2022
		£	£

Allotted, called up and fully paid

1 (2022 - 1) Ordinary share of £1	1	1

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