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Registration number: 09978371

Sim Bala Camera Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Sim Bala Camera Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Sim Bala Camera Ltd

(Registration number: 09978371)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

6,927

9,537

Current assets

 

Debtors

6

33,693

29,449

Cash at bank and in hand

 

4,319

1

 

38,012

29,450

Creditors: Amounts falling due within one year

7

(32,690)

(23,463)

Net current assets

 

5,322

5,987

Total assets less current liabilities

 

12,249

15,524

Creditors: Amounts falling due after more than one year

7

(9,903)

(13,266)

Provisions for liabilities

(1,316)

(1,812)

Net assets

 

1,030

446

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

830

246

Shareholders' funds

 

1,030

446

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 16 November 2023 and signed on its behalf by:
 

 

Sim Bala Camera Ltd

(Registration number: 09978371)
Balance Sheet as at 31 March 2023

.........................................
Mr S Bala
Director

 

Sim Bala Camera Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1025 Chorley New Road
Lostock
BL6 4LW

These financial statements were authorised for issue by the Board on 16 November 2023.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Sim Bala Camera Ltd

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% straight line

Office equipment

33.33% straight line

 

Sim Bala Camera Ltd

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

3,289

2,096

 

Sim Bala Camera Ltd

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

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

1,728

19,308

21,036

Additions

-

680

680

At 31 March 2023

1,728

19,988

21,716

Depreciation

At 1 April 2022

336

11,163

11,499

Charge for the year

576

2,714

3,290

At 31 March 2023

912

13,877

14,789

Carrying amount

At 31 March 2023

816

6,111

6,927

At 31 March 2022

1,392

8,145

9,537

6

Debtors

Current

2023
£

2022
£

Trade debtors

222

2,465

Other debtors

33,471

26,984

 

33,693

29,449

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

7,412

7,481

Taxation and social security

 

25,128

15,957

Accruals and deferred income

 

150

25

 

32,690

23,463

 

Sim Bala Camera Ltd

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

 

Sim Bala Camera Ltd

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

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

9,903

13,266

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary A shares of £1 each

75

75

75

75

Ordinary B shares of £1 each

25

25

25

25

 

200

200

200

200

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

6,097

7,089

Other borrowings

3,806

6,177

9,903

13,266

2023
£

2022
£

Current loans and borrowings

Bank borrowings

1,594

1,569

Bank overdrafts

3,618

3,953

Other borrowings

2,200

1,959

7,412

7,481