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Company Registration No. 01698652 (England and Wales)
WMI Simpsons Limited Unaudited accounts for the year ended 31 July 2023
WMI Simpsons Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,553 
2,071 
Investments
1,300 
1,300 
2,853 
3,371 
Current assets
Inventories
389,600 
355,916 
Debtors
209,533 
257,017 
Cash at bank and in hand
139,152 
103,221 
738,285 
716,154 
Creditors: amounts falling due within one year
(153,708)
(103,010)
Net current assets
584,577 
613,144 
Net assets
587,430 
616,515 
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
587,230 
616,315 
Shareholders' funds
587,430 
616,515 
For the year ending 31 July 2023 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by
Theresa Phillips Director Company Registration No. 01698652
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WMI Simpsons Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
WMI Simpsons Limited is a private company, limited by shares, registered in England and Wales, registration number 01698652. The registered office is Unit 9, Rear of 944/946 High Road, North Finchley, London, N12 9RT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2022
88,677 
59,108 
147,785 
At 31 July 2023
88,677 
59,108 
147,785 
Depreciation
At 1 August 2022
88,677 
57,037 
145,714 
Charge for the year
- 
518 
518 
At 31 July 2023
88,677 
57,555 
146,232 
Net book value
At 31 July 2023
- 
1,553 
1,553 
At 31 July 2022
- 
2,071 
2,071 
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WMI Simpsons Limited Notes to the Accounts for the year ended 31 July 2023
5
Investments
Other investments 
£ 
Valuation at 1 August 2022
1,300 
Valuation at 31 July 2023
1,300 
6
Inventories
2023 
2022 
£ 
£ 
Finished goods
389,600 
355,916 
389,600 
355,916 
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
193,265 
215,720 
Accrued income and prepayments
16,268 
15,459 
Other debtors
- 
25,838 
209,533 
257,017 
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
1,488 
10,218 
Trade creditors
145,215 
87,212 
Taxes and social security
2,004 
2,729 
Loans from directors
2,001 
1 
Accruals
3,000 
2,850 
153,708 
103,010 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
200 Ordinary shares of £1 each
200 
200 
10
Transactions with related parties
Within creditors is an amount of £2,001 (2022: £1) due to a company director. No interest has been charged on the balance.
11
Average number of employees
During the year the average number of employees was 5 (2022: 6).
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