20 false false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 9,000 9,000 38,644 6,084 44,728 38,067 1,397 39,464 5,264 577 xbrli:pure xbrli:shares iso4217:GBP 02111811 2022-07-01 2023-06-30 02111811 2023-06-30 02111811 2022-06-30 02111811 2021-07-01 2022-06-30 02111811 2022-06-30 02111811 2021-06-30 02111811 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-07-01 2023-06-30 02111811 core:FurnitureFittings 2022-07-01 2023-06-30 02111811 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 02111811 bus:Director1 2022-07-01 2023-06-30 02111811 bus:Director3 2022-07-01 2023-06-30 02111811 core:WithinOneYear 2023-06-30 02111811 core:WithinOneYear 2022-06-30 02111811 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 02111811 core:FurnitureFittings 2022-06-30 02111811 core:FurnitureFittings 2023-06-30 02111811 core:AfterOneYear 2023-06-30 02111811 core:AfterOneYear 2022-06-30 02111811 core:ShareCapital 2023-06-30 02111811 core:ShareCapital 2022-06-30 02111811 core:RetainedEarningsAccumulatedLosses 2023-06-30 02111811 core:RetainedEarningsAccumulatedLosses 2022-06-30 02111811 core:MoreThanFiveYears 2023-06-30 02111811 core:MoreThanFiveYears 2022-06-30 02111811 core:FurnitureFittings 2022-06-30 02111811 bus:SmallEntities 2022-07-01 2023-06-30 02111811 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 02111811 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 02111811 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 02111811 bus:FullAccounts 2022-07-01 2023-06-30 02111811 bus:OrdinaryShareClass1 2023-06-30 02111811 bus:OrdinaryShareClass1 2022-06-30
COMPANY REGISTRATION NUMBER: 02111811
Simon Carter Limited
Filleted Unaudited Financial Statements
30 June 2023
Simon Carter Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
5,264
577
Current assets
Stocks
377,672
326,192
Debtors
7
421,907
558,760
Cash at bank and in hand
467,999
271,986
------------
------------
1,267,578
1,156,938
Creditors: amounts falling due within one year
8
249,252
223,488
------------
------------
Net current assets
1,018,326
933,450
------------
---------
Total assets less current liabilities
1,023,590
934,027
Creditors: amounts falling due after more than one year
9
24,816
34,167
------------
---------
Net assets
998,774
899,860
------------
---------
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
998,674
899,760
---------
---------
Shareholders funds
998,774
899,860
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Simon Carter Limited
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 31 August 2023 , and are signed on behalf of the board by:
S. C. Carter
W. J. Carter
Director
Director
Company registration number: 02111811
Simon Carter Limited
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Copyright
-
25% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 20 (2022: 18 ).
5. Intangible assets
Development costs
£
Cost
At 1 July 2022 and 30 June 2023
9,000
-------
Amortisation
At 1 July 2022 and 30 June 2023
9,000
-------
Carrying amount
At 30 June 2023
-------
At 30 June 2022
-------
6. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 July 2022
38,644
38,644
Additions
6,084
6,084
--------
--------
At 30 June 2023
44,728
44,728
--------
--------
Depreciation
At 1 July 2022
38,067
38,067
Charge for the year
1,397
1,397
--------
--------
At 30 June 2023
39,464
39,464
--------
--------
Carrying amount
At 30 June 2023
5,264
5,264
--------
--------
At 30 June 2022
577
577
--------
--------
7. Debtors
2023
2022
£
£
Trade debtors
339,268
509,563
Prepayments and accrued income
82,639
49,197
---------
---------
421,907
558,760
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
118,369
97,827
Accruals and deferred income
15,400
21,354
Director loan accounts
37,489
16,126
Taxation and social security
67,994
78,181
---------
---------
249,252
223,488
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
24,816
34,167
--------
--------
10. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
11. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
10,000
103,000
Later than 5 years
488,000
564,000
---------
---------
498,000
667,000
---------
---------
12. Related party transactions
As at 30 June 2023 the directors were owed £37,489 (2022 £16,126) as shown in note 9.