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REGISTERED NUMBER: 06999865 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 January 2023

for

SIMPSON'S OF CHELTENHAM LIMITED

SIMPSON'S OF CHELTENHAM LIMITED (REGISTERED NUMBER: 06999865)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SIMPSON'S OF CHELTENHAM LIMITED

Company Information
FOR THE YEAR ENDED 31 January 2023







DIRECTORS: Mrs J Simpson
Mr J Ritchie
Mr B Simpson
Mrs B Ritchie





REGISTERED OFFICE: Suite 5, First Floor
The Counting House
Bonds Mill Estate
Stonehouse
Gloucestershire
GL10 3RF





REGISTERED NUMBER: 06999865 (England and Wales)





ACCOUNTANTS: MGB Accountants (Stonehouse) Limited
The Garden Suite
23 Westfield Park
Redland
Bristol
BS6 6LT

SIMPSON'S OF CHELTENHAM LIMITED (REGISTERED NUMBER: 06999865)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,980 52,784
Investments 5 1 1
18,981 52,785

CURRENT ASSETS
Stocks 11,817 11,400
Debtors 6 189,507 174,423
Cash at bank and in hand 20,278 258,784
221,602 444,607
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

194,475

173,702
NET CURRENT ASSETS 27,127 270,905
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,108

323,690

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

8

(36,461

)

(270,663

)

PROVISIONS FOR LIABILITIES (2,230 ) (9,221 )
NET ASSETS 7,417 43,806

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7,317 43,706
SHAREHOLDERS' FUNDS 7,417 43,806

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

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

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by:




Mrs J Simpson - Director


SIMPSON'S OF CHELTENHAM LIMITED (REGISTERED NUMBER: 06999865)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 January 2023

1. STATUTORY INFORMATION

Simpson'S Of Cheltenham 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 10% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.Prior impairments are also reviewed for possible reversal at each reporting date.

Holiday pay accrual
Sheet date and carried forward to future periods. This is measured at the undiscounted cost of the future holiday entitlement so accrued at the Balance Sheet date.

SIMPSON'S OF CHELTENHAM LIMITED (REGISTERED NUMBER: 06999865)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 January 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2022 420,330
Additions 6,620
At 31 January 2023 426,950
DEPRECIATION
At 1 February 2022 367,546
Charge for year 40,424
At 31 January 2023 407,970
NET BOOK VALUE
At 31 January 2023 18,980
At 31 January 2022 52,784

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2022
and 31 January 2023 1
NET BOOK VALUE
At 31 January 2023 1
At 31 January 2022 1

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 9,831 4,780
Amounts owed by group undertakings 40,190 40,000
Directors' current accounts 107,907 98,868
Prepayments 4,967 4,163
162,895 147,811

Amounts falling due after more than one year:
Tax 26,612 26,612

Aggregate amounts 189,507 174,423

SIMPSON'S OF CHELTENHAM LIMITED (REGISTERED NUMBER: 06999865)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 January 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 5,110 5,010
Trade creditors 79,843 88,180
Amounts owed to group undertakings 15,080 18,980
Tax 21,208 40,391
Social security and other taxes 4,402 544
VAT 34,757 13,364
Other creditors 591 -
Directors' current accounts 26,704 -
Accrued expenses 6,780 7,233
194,475 173,702

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other loans - 1-2 years 5,110 5,010
Other loans - 2-5 years 15,331 15,031
Other loans more 5yrs instal 16,020 250,622
36,461 270,663

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 16,020 250,622

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 27,000 27,000
Between one and five years 18,000 45,000
45,000 72,000

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2023 and 31 January 2022:

2023 2022
£    £   
Mrs B Ritchie
Balance outstanding at start of year 77,533 60,873
Amounts advanced 40,974 27,260
Amounts repaid (10,600 ) (10,600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 107,907 77,533

SIMPSON'S OF CHELTENHAM LIMITED (REGISTERED NUMBER: 06999865)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 January 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr J Ritchie
Balance outstanding at start of year 7,937 18,537
Amounts advanced 608 -
Amounts repaid (10,600 ) (10,600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,055 ) 7,937

Mrs J Simpson and Mr B Simpson
Balance outstanding at start of year 13,397 4,308
Amounts advanced 18,097 46,657
Amounts repaid (56,144 ) (37,568 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (24,650 ) 13,397