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REGISTERED NUMBER: 07747991 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

SIMKAL LTD

SIMKAL LTD (REGISTERED NUMBER: 07747991)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SIMKAL LTD

COMPANY INFORMATION
for the Year Ended 31 December 2021







DIRECTORS: V Weber
K J Weber





REGISTERED OFFICE: 4 - 7 Market Hall Market Square
Lytham St Annes
Lancashire
FY8 5LW





REGISTERED NUMBER: 07747991 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

SIMKAL LTD (REGISTERED NUMBER: 07747991)

BALANCE SHEET
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,363 5,133
Tangible assets 5 100,125 33,364
104,488 38,497

CURRENT ASSETS
Debtors 6 14,386 7,500
Cash at bank and in hand 62,978 89,296
77,364 96,796
CREDITORS
Amounts falling due within one year 7 84,399 65,945
NET CURRENT (LIABILITIES)/ASSETS (7,035 ) 30,851
TOTAL ASSETS LESS CURRENT
LIABILITIES

97,453

69,348

CREDITORS
Amounts falling due after more than one
year

8

49,396

39,580
NET ASSETS 48,057 29,768

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 47,957 29,668
SHAREHOLDERS' FUNDS 48,057 29,768

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

SIMKAL LTD (REGISTERED NUMBER: 07747991)

BALANCE SHEET - continued
31 December 2021


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2022 and were signed on its behalf by:





K J Weber - Director


SIMKAL LTD (REGISTERED NUMBER: 07747991)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Simkal Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration receivable for goods sold and services provided.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Computer equipment - 25% on cost
Motor vehicles - 25% on reducing balance
Website - 10% on cost

Improvements to property will be depreciated once the asset is fully in use.

Government income
The company has claimed monies during the year from local government, as part of the government furlough scheme. The government income also comprises of grants provided from local council as a direct result of the Covid 19 pandemic. These are recognised immediately the benefit becomes due.

Financial instruments
Short term financial liabilities, including directors current accounts, are measured at the transaction price. Financial liabilities that have no stated interest rate and are payable on demand shall be measured at the undiscounted amount due.

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

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

SIMKAL LTD (REGISTERED NUMBER: 07747991)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 7,700
AMORTISATION
At 1 January 2021 2,567
Charge for year 770
At 31 December 2021 3,337
NET BOOK VALUE
At 31 December 2021 4,363
At 31 December 2020 5,133

5. TANGIBLE FIXED ASSETS
Improvements
to Computer Motor
property equipment vehicles Website Totals
£    £    £    £    £   
COST
At 1 January 2021 28,799 1,941 4,500 2,769 38,009
Additions 45,235 1,513 28,509 142 75,399
At 31 December 2021 74,034 3,454 33,009 2,911 113,408
DEPRECIATION
At 1 January 2021 - 718 3,076 851 4,645
Charge for year - 864 7,483 291 8,638
At 31 December 2021 - 1,582 10,559 1,142 13,283
NET BOOK VALUE
At 31 December 2021 74,034 1,872 22,450 1,769 100,125
At 31 December 2020 28,799 1,223 1,424 1,918 33,364

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 930 -
Other debtors 13,456 7,500
14,386 7,500

SIMKAL LTD (REGISTERED NUMBER: 07747991)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 5,100 3,420
Hire purchase contracts 3,245 -
Trade creditors 28,040 20,108
Tax - 1,893
Social security and other taxes 9,754 5,790
Other creditors 12,408 12,408
Directors' current accounts 25,431 21,906
Accruals and deferred income 421 420
84,399 65,945

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans 34,500 39,580
Hire purchase contracts 14,896 -
49,396 39,580

9. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Hire purchase contracts 18,141 -

The hire purchase contracts are secured on the assets concerned.

10. OTHER FINANCIAL COMMITMENTS

The company has operating lease commitments totalling £271,250 (2020: £302,500).