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REGISTERED NUMBER: 06825895 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

SIMFREIGHT LIMITED

SIMFREIGHT LIMITED (REGISTERED NUMBER: 06825895)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SIMFREIGHT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: S A King
M King





REGISTERED OFFICE: Victoria House
26 Queen Victoria Street
Reading
Berkshire
RG1 1TG





REGISTERED NUMBER: 06825895 (England and Wales)

SIMFREIGHT LIMITED (REGISTERED NUMBER: 06825895)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,872 2,555

CURRENT ASSETS
Debtors 5 212,004 231,899
Cash at bank 75,982 44,194
287,986 276,093
CREDITORS
Amounts falling due within one year 6 200,205 185,712
NET CURRENT ASSETS 87,781 90,381
TOTAL ASSETS LESS CURRENT
LIABILITIES

93,653

92,936

CREDITORS
Amounts falling due after more than one
year

7

(9,310

)

(13,282

)

PROVISIONS FOR LIABILITIES (329 ) (113 )
NET ASSETS 84,014 79,541

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 83,914 79,441
84,014 79,541

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SIMFREIGHT LIMITED (REGISTERED NUMBER: 06825895)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:





S A King - Director


SIMFREIGHT LIMITED (REGISTERED NUMBER: 06825895)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Simfreight Limited is a private company, limited by shares, registered in England and Wales. The address of its registered office is Victoria House, 26 Queen Victoria Street, Reading RG1 1TG.

The principal activity of the company is that of the import and export of freight cargo.

The financial statements are presented in Pound Sterling (£), which is also the functional currency of the company.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

SIMFREIGHT LIMITED (REGISTERED NUMBER: 06825895)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

Short term debtors are measured at transaction price, less any impairment. Short term creditors are measured at transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2022 4,634 2,306 6,940
Additions 1,751 3,524 5,275
At 28 February 2023 6,385 5,830 12,215
DEPRECIATION
At 1 March 2022 4,078 307 4,385
Charge for year 577 1,381 1,958
At 28 February 2023 4,655 1,688 6,343
NET BOOK VALUE
At 28 February 2023 1,730 4,142 5,872
At 28 February 2022 556 1,999 2,555

SIMFREIGHT LIMITED (REGISTERED NUMBER: 06825895)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 163,864 155,030
Other debtors 48,140 76,869
212,004 231,899

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 3,972 3,874
Trade creditors 162,773 150,430
Taxation and social security 30,353 31,160
Other creditors 3,107 248
200,205 185,712

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans 9,310 13,282

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end a director owed the company £29,168 (2022 : £44,445).