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REGISTERED NUMBER: 10094081 (England and Wales)












Financial Statements

for the Year Ended 31 March 2023

for

Simat Restorations Ltd

Simat Restorations Ltd (Registered number: 10094081)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Simat Restorations Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: S Clarke





REGISTERED OFFICE: Archwood House
46/48 Long Street
Middleton
Manchester
M24 6UQ





REGISTERED NUMBER: 10094081 (England and Wales)





ACCOUNTANTS: Archwood Accountants
Archwood House
46-48 Long Street
Middleton
Manchester
M24 6UQ

Simat Restorations Ltd (Registered number: 10094081)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,565 19,979

CURRENT ASSETS
Debtors 5 53,656 26,176
Cash at bank 164,354 230,430
218,010 256,606
CREDITORS
Amounts falling due within one year 6 11,100 14,503
NET CURRENT ASSETS 206,910 242,103
TOTAL ASSETS LESS CURRENT
LIABILITIES

222,475

262,082

CREDITORS
Amounts falling due after more than one year 7 (2,780 ) (6,118 )

PROVISIONS FOR LIABILITIES (2,957 ) (3,796 )
NET ASSETS 216,738 252,168

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 216,638 252,068
216,738 252,168

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Simat Restorations Ltd (Registered number: 10094081)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 November 2023 and were signed by:





S Clarke - Director


Simat Restorations Ltd (Registered number: 10094081)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Simat Restorations 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.

The company relies on the support of its directors and shareholders and other lenders. There is nothing to suggest that this support will be withdrawn in the period of one year following the date of the signing of the balance sheet. On this basis, the financial statements have been prepared on the going concern basis.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

Simat Restorations Ltd (Registered number: 10094081)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 30,123 2,695 32,818
Additions - 1,036 1,036
At 31 March 2023 30,123 3,731 33,854
DEPRECIATION
At 1 April 2022 11,566 1,273 12,839
Charge for year 4,639 811 5,450
At 31 March 2023 16,205 2,084 18,289
NET BOOK VALUE
At 31 March 2023 13,918 1,647 15,565
At 31 March 2022 18,557 1,422 19,979

Simat Restorations Ltd (Registered number: 10094081)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 16,674
DEPRECIATION
At 1 April 2022 6,186
Charge for year 2,622
At 31 March 2023 8,808
NET BOOK VALUE
At 31 March 2023 7,866
At 31 March 2022 10,488

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 13,016 16,832
Amounts recoverable on contract 37,000 7,000
Other debtors 3,640 2,344
53,656 26,176

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 3,336 3,335
Trade creditors 1,145 635
Tax 3,457 2,007
Social security and other taxes 1,611 6,853
Directors' current accounts 61 183
Accrued expenses 1,490 1,490
11,100 14,503

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 2,780 6,118