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REGISTERED NUMBER: 07915684 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022

FOR

SIM LOCAL (UK) LTD

SIM LOCAL (UK) LTD (REGISTERED NUMBER: 07915684)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SIM LOCAL (UK) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2022







DIRECTORS: Mr K Whelan
Mrs A Sheridan



SECRETARY: Mrs A Sheridan



REGISTERED OFFICE: 90 High Street
Newmarket
Suffolk
CB8 8FE



REGISTERED NUMBER: 07915684 (England and Wales)



SENIOR STATUTORY AUDITOR: Anthony James Brice FCCA



AUDITORS: Annatrice Limited
Statutory Auditor
10 The Thoroughfare
Harleston
Norfolk
IP20 9AX

SIM LOCAL (UK) LTD (REGISTERED NUMBER: 07915684)

BALANCE SHEET
30 NOVEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 289,982 235,662

CURRENT ASSETS
Stocks 684,771 316,322
Debtors 5 1,358,569 1,392,499
Cash at bank and in hand 765,177 250,820
2,808,517 1,959,641
CREDITORS
Amounts falling due within one year 6 1,579,623 781,508
NET CURRENT ASSETS 1,228,894 1,178,133
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,518,876

1,413,795

PROVISIONS FOR LIABILITIES 33,375 28,489
NET ASSETS 1,485,501 1,385,306

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 7 1,485,500 1,385,305
SHAREHOLDERS' FUNDS 1,485,501 1,385,306

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 22 November 2023 and were signed on its behalf by:





Mr K Whelan - Director


SIM LOCAL (UK) LTD (REGISTERED NUMBER: 07915684)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022


1. STATUTORY INFORMATION

Sim Local (UK) 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover includes the full gross value of data and phone credit purchased by customers from network providers and sold by the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - Straight line over 5 years
Fixtures and fittings - Straight line over 5 years
Computer equipment - Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
All financial instruments are basic financial instruments measured at amortised historic cost less amounts written off for impairments.

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.

SIM LOCAL (UK) LTD (REGISTERED NUMBER: 07915684)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. Sterling is the functional currency of the company and the currency in which the accounts are presented.

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
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Retail concession agreements
The company has a number of retail concession agreements with the airports from which it sells its products. These agreements include obligations to pay fees based on a percentage of sales subject to minimum levels and they have varying durations and notice periods. The fees payable under these agreements are expensed through the profit and loss account as incurred and are included within administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2021 - 28 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Office and Computer
equipment fittings equipment Totals
£    £    £    £   
COST
At 1 December 2021 13,300 1,125,275 201,236 1,339,811
Additions - 178,574 22,203 200,777
Disposals - (106,125 ) - (106,125 )
At 30 November 2022 13,300 1,197,724 223,439 1,434,463
DEPRECIATION
At 1 December 2021 12,552 915,141 176,456 1,104,149
Charge for year 391 70,600 28,032 99,023
Eliminated on disposal - (58,691 ) - (58,691 )
At 30 November 2022 12,943 927,050 204,488 1,144,481
NET BOOK VALUE
At 30 November 2022 357 270,674 18,951 289,982
At 30 November 2021 748 210,134 24,780 235,662

SIM LOCAL (UK) LTD (REGISTERED NUMBER: 07915684)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 592,443 484,699
Amounts owed by group undertakings 725,609 879,013
Other debtors 40,517 28,787
1,358,569 1,392,499

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 1,351 -
Trade creditors 205,754 260,698
Amounts owed to group undertakings 872,741 -
Taxation and social security 293,224 448,498
Other creditors 206,553 72,312
1,579,623 781,508

7. RESERVES
Retained
earnings
£   

At 1 December 2021 1,385,305
Profit for the year 100,195
At 30 November 2022 1,485,500

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Anthony James Brice FCCA (Senior Statutory Auditor)
for and on behalf of Annatrice Limited

9. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption granted to wholly owned subsidiaries not to disclose transactions with group companies.

The Group accounts are prepared by Travelwin Group DAC registered office: 7th Floor, RSA House, Sandyford Road, Dundrum, Dublin 16, Ireland.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Sim Local (Ireland) Limited.

The ultimate controlling party are Mr Killian Whelan and Mrs Avril Whelan, husband and wife, who between
them are majority shareholders in the ultimate parent company Travelwin Group DAC, registered in Ireland.

SIM LOCAL (UK) LTD (REGISTERED NUMBER: 07915684)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022


11. GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The company has provided a guarantee and floating debenture over it's assets and undertakings to a bank in favour of the parent company Sim Local (Ireland) Limited. The balance outstanding on the 30th November 2022 was 437,049 Euros.