SIMPLY-COMMUNICATE LIMITED Filleted Accounts Cover
SIMPLY-COMMUNICATE LIMITED
Company No. 05137978
Information for Filing with The Registrar
31 December 2021
SIMPLY-COMMUNICATE LIMITED Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 December 2021.
Principal activities
The principal activity of the company during the year under review was that of online subscription publisher and consultancy of best practice internal communication.
Directors
The Directors who served at any time during the year were as follows:
M. Wright
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
M. Wright
Director
09 June 2022
SIMPLY-COMMUNICATE LIMITED Balance Sheet Registrar
at
31 December 2021
Company No.
05137978
Notes
2021
2020
£
£
Fixed assets
Tangible assets
4
3,2203,036
3,2203,036
Current assets
Debtors
5
300,214297,815
Cash at bank and in hand
238,293387
538,507298,202
Creditors: Amount falling due within one year
6
(429,556)
(201,577)
Net current assets
108,95196,625
Total assets less current liabilities
112,17199,661
Creditors: Amounts falling due after more than one year
7
(66,365)
(53,182)
Net assets
45,80646,479
Capital and reserves
Called up share capital
11
Capital redemption reserve
45,80145,801
Profit and loss account
8
4677
Total equity
45,80646,479
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 09 June 2022
And signed on its behalf by:
M. Wright
Director
09 June 2022
SIMPLY-COMMUNICATE LIMITED Notes to the Accounts Registrar
for the year ended 31 December 2021
1
General information
Its registered number is: 05137978
Its registered office is:
Its trading address is:
C/O N R Betts & Co
12 Hammersmith Grove
2 Fountain Court
London
Victoria Square
St Albans
AL1 3TF
W6 7AP
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2021
2020
Number
Number
The average monthly number of employees (including directors) during the year was:
64
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings and equipment
Total
£
£
£
Cost or revaluation
At 1 January 2021
82393,92594,748
Additions
-4,4004,400
At 31 December 2021
82398,32599,148
Depreciation
At 1 January 2021
75590,95791,712
Charge for the year
-4,2164,216
At 31 December 2021
75595,17395,928
Net book values
At 31 December 2021
683,1523,220
At 31 December 2020
682,9683,036
5
Debtors
2021
2020
£
£
Trade debtors
40,08021,000
Corporation tax recoverable
63,56238,046
VAT recoverable
326326
Loans to directors
195,577219,484
Other debtors
66912,293
Prepayments and accrued income
-6,666
300,214297,815
6
Creditors:
amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
36,81828,552
Other loans
-5,074
Trade creditors
13,50719,281
Amounts owed to group undertakings
9121,038
Corporation tax
68,79470,669
Other taxes and social security
65,94414,236
Loans from directors
-23,000
Other creditors
3,7431,464
Accruals and deferred income
239,83838,263
429,556201,577
7
Creditors:
amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
66,36553,182
66,36553,182
8
Reserves
Capital redemption reserve
Total other reserves
£
£
At 1 January 2020
45,801
45,801
At 31 December 2020 and 1 January 2021
45,801
45,801
At 31 December 2021
45,80145,801
Profit and loss account - includes all current and prior period retained profits and losses.
9
Dividends
2021
2020
£
£
Dividends for the period:
Dividends paid in the period
84,420
67,000
84,420
67,000
Dividends by type:
Equity dividends
84,42067,000
84,420
67,000
10
Advances and credits to directors
Included within Other debtors are the following loans to directors:
Director
Description
At 1 January 2021
Advanced
Repaid
At 31 December 2021
£
£
£
£
M. WrightInterest free loan and repayable upon demand219,50278,495
(102,420)
195,577
219,50278,495
(102,420)
195,577
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