Company Registration No. 04721488 (England and Wales)
SIMPLE SIMON DESIGN LIMITED
Unaudited accounts
for the year ended 31 March 2023
SIMPLE SIMON DESIGN LIMITED
Unaudited accounts
Contents
SIMPLE SIMON DESIGN LIMITED
Company Information
for the year ended 31 March 2023
Directors
S S Jones
B Rolls
Company Number
04721488 (England and Wales)
Registered Office
UNIT 5.10 PAINTWORKS
BATH ROAD
BRISTOL
BS4 3EH
Accountants
FARQUHAR PARTNERSHIP LIMITED
151 WHITELADIES ROAD
CLIFTON
BRISTOL
BS8 2RA
SIMPLE SIMON DESIGN LIMITED
Statement of financial position
as at 31 March 2023
Tangible assets
180,399
188,316
Cash at bank and in hand
28,951
68,423
Creditors: amounts falling due within one year
(68,821)
(92,639)
Net current assets
36,949
98,364
Total assets less current liabilities
217,348
286,680
Creditors: amounts falling due after more than one year
(131,708)
(148,806)
Provisions for liabilities
Deferred tax
(1,825)
(2,856)
Called up share capital
2
2
Capital redemption reserve
1
1
Profit and loss account
83,812
135,015
Shareholders' funds
83,815
135,018
For the 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. 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 10 November 2023 and were signed on its behalf by
B Rolls
Director
Company Registration No. 04721488
SIMPLE SIMON DESIGN LIMITED
Notes to the Accounts
for the year ended 31 March 2023
SIMPLE SIMON DESIGN LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04721488. The registered office is UNIT 5.10 PAINTWORKS, BATH ROAD, BRISTOL, BS4 3EH.
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.
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.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Land & buildings
straight line over the term of the lease
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
SIMPLE SIMON DESIGN LIMITED
Notes to the Accounts
for the year ended 31 March 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Government grants in relation to covid assistance are credited to profit and loss using the accrual model and are included in Other operating income.
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
184,878
13,346
35,055
233,279
At 31 March 2023
184,878
13,346
37,256
235,480
At 1 April 2022
11,596
11,357
22,010
44,963
Charge for the year
2,900
1,989
5,229
10,118
At 31 March 2023
14,496
13,346
27,239
55,081
At 31 March 2023
170,382
-
10,017
180,399
At 31 March 2022
173,282
1,989
13,045
188,316
Amounts falling due within one year
Trade debtors
68,014
113,953
Accrued income and prepayments
8,805
8,627
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
17,715
17,938
Trade creditors
1,681
7,808
Taxes and social security
40,884
43,961
Loans from directors
4,512
19,634
SIMPLE SIMON DESIGN LIMITED
Notes to the Accounts
for the year ended 31 March 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
131,708
148,806
Aggregate of amounts that fall due for payment after five years
71,381
81,288
Bank borrowings are secured by a legal and general charge over the assets of the company.
8
Deferred taxation
2023
2022
Accelerated capital allowances
1,903
2,856
Other deferred taxation
(78)
-
Provision at start of year
2,856
1,831
(Credited)/charged to the profit and loss account
(1,031)
1,025
Provision at end of year
1,825
2,856
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
10
Operating lease commitments
2023
2022
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
15,864
15,864
Later than one year and not later than five years
3,410
19,074
Later than five years
195,200
195,400
11
Average number of employees
During the year the average number of employees was 8 (2022: 8).