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REGISTERED NUMBER: 10485194 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 28 February 2023

for

J. W. Simpkin Limited

J. W. Simpkin Limited (Registered number: 10485194)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J. W. Simpkin Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: J D Cokayne
S Lacey
R McHugh
S O Moore





REGISTERED OFFICE: Unit 10
High Holborn Road
Ripley
Derbyshire
DE5 3NW





REGISTERED NUMBER: 10485194 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

J. W. Simpkin Limited (Registered number: 10485194)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 38,885 49,255
Tangible assets 5 155,009 183,272
193,894 232,527

CURRENT ASSETS
Stocks 80,340 29,374
Debtors 6 505,235 743,697
Cash at bank and in hand 107,719 76,964
693,294 850,035
CREDITORS
Amounts falling due within one year 7 408,319 399,114
NET CURRENT ASSETS 284,975 450,921
TOTAL ASSETS LESS CURRENT
LIABILITIES

478,869

683,448

CREDITORS
Amounts falling due after more than one
year

8

(122,877

)

(167,858

)

PROVISIONS FOR LIABILITIES (16,000 ) (21,000 )
NET ASSETS 339,992 494,590

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 339,792 494,390
339,992 494,590

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

J. W. Simpkin Limited (Registered number: 10485194)

Balance Sheet - continued
28 February 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2023 and were signed on its behalf by:





R McHugh - Director


J. W. Simpkin Limited (Registered number: 10485194)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

J. W. Simpkin Limited 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 represents the amounts (excluding value added tax and including, where applicable,
relevant costs and overheads plus attributable profit to date recoverable on contracts) derived from the provision of goods and services to customers during the year.

Goodwill
Goodwill, being amounts paid in connection with the acquisition of a business in a previous period, is being amortised over its estimated useful economic life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Property improvements - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

Hire purchase
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

J. W. Simpkin Limited (Registered number: 10485194)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 103,694
AMORTISATION
At 1 March 2022 54,439
Amortisation for year 10,370
At 28 February 2023 64,809
NET BOOK VALUE
At 28 February 2023 38,885
At 28 February 2022 49,255

5. TANGIBLE FIXED ASSETS
Fixtures
Property Plant and and Motor
improvements machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 March 2022 3,640 28,723 14,475 241,507 288,345
Additions - 2,737 1,683 43,363 47,783
Disposals (3,640 ) (2,995 ) (1,390 ) (15,681 ) (23,706 )
At 28 February 2023 - 28,465 14,768 269,189 312,422
DEPRECIATION
At 1 March 2022 1,307 15,567 7,745 80,454 105,073
Charge for year 334 4,509 2,968 55,791 63,602
Eliminated on disposal (1,641 ) (2,654 ) (1,390 ) (5,577 ) (11,262 )
At 28 February 2023 - 17,422 9,323 130,668 157,413
NET BOOK VALUE
At 28 February 2023 - 11,043 5,445 138,521 155,009
At 28 February 2022 2,333 13,156 6,730 161,053 183,272

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 363,047 560,128
Other debtors 101,566 130,327
Directors' loan accounts - 18,491
Prepayments 40,622 34,751
505,235 743,697

J. W. Simpkin Limited (Registered number: 10485194)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,293 9,041
Hire purchase contracts 43,666 41,334
Trade creditors 165,024 189,178
Tax 87,022 106,720
Social security and other taxes 20,336 20,990
Other creditors 58,705 2,695
Directors' loan accounts 1,082 112
Accrued expenses 23,191 29,044
408,319 399,114

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 23,207 33,459
Hire purchase contracts 99,670 134,399
122,877 167,858

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 143,336 175,733

Hire purchase creditors are secured on the related assets.