0 false false false false false false false false false true false false false false false false No description of principal activity 2021-12-01 Sage Accounts Production Advanced 2021 - FRS102_2021 40,982 11,943 4,098 16,041 24,941 29,039 xbrli:pure xbrli:shares iso4217:GBP 8670669 2021-12-01 2022-11-30 8670669 2022-11-30 8670669 2021-11-30 8670669 2021-11-30 8670669 core:FurnitureFittings 2021-12-01 2022-11-30 8670669 bus:RegisteredOffice 2021-12-01 2022-11-30 8670669 bus:Director1 2021-12-01 2022-11-30 8670669 core:FurnitureFittings 2021-11-30 8670669 core:FurnitureFittings 2022-11-30 8670669 core:WithinOneYear 2022-11-30 8670669 core:WithinOneYear 2021-11-30 8670669 core:AfterOneYear 2022-11-30 8670669 core:AfterOneYear 2021-11-30 8670669 core:ShareCapital 2022-11-30 8670669 core:ShareCapital 2021-11-30 8670669 core:RetainedEarningsAccumulatedLosses 2022-11-30 8670669 core:RetainedEarningsAccumulatedLosses 2021-11-30 8670669 core:FurnitureFittings 2021-11-30 8670669 bus:SmallEntities 2021-12-01 2022-11-30 8670669 bus:AuditExempt-NoAccountantsReport 2021-12-01 2022-11-30 8670669 bus:FullAccounts 2021-12-01 2022-11-30 8670669 bus:SmallCompaniesRegimeForAccounts 2021-12-01 2022-11-30 8670669 bus:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 8670669 core:AfterOneYear 2021-12-01 2022-11-30
COMPANY REGISTRATION NUMBER: 8670669
SIMCLAIR FINANCE LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 November 2022
SIMCLAIR FINANCE LTD
FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2022
CONTENTS
PAGE
Officers and professional advisers
1
Balance sheet
2
Notes to the financial statements
4
SIMCLAIR FINANCE LTD
OFFICERS AND PROFESSIONAL ADVISERS
DIRECTOR
Mr M S Eckstein
REGISTERED OFFICE
New Burlington House
1075 Finchley Road
London
NW11 0PU
SIMCLAIR FINANCE LTD
BALANCE SHEET
30 November 2022
2022
2021
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
24,941
29,039
CURRENT ASSETS
Debtors
6
162,619
119,105
Cash at bank and in hand
16,056
11,272
----------
----------
178,675
130,377
CREDITORS: amounts falling due within one year
7
( 156,080)
( 107,408)
----------
----------
NET CURRENT ASSETS
22,595
22,969
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
47,536
52,008
CREDITORS: amounts falling due after more than one year
8
( 39,100)
( 41,249)
---------
---------
NET ASSETS
8,436
10,759
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
8,336
10,659
-------
---------
SHAREHOLDER FUNDS
8,436
10,759
-------
---------
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 profit and loss account has not been delivered.
For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SIMCLAIR FINANCE LTD
BALANCE SHEET (continued)
30 November 2022
These financial statements were approved by the board of directors and authorised for issue on 27 November 2023 , and are signed on behalf of the board by:
Mr M S Eckstein
Director
Company registration number: 8670669
SIMCLAIR FINANCE LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2022
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is New Burlington House, 1075 Finchley Road, London, NW11 0PU.
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.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The directors do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for mortgage brokerage services rendered, stated net of discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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 and fittings
-
10% 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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year, including the directors, amounted to nil (2021: nil).
5. TANGIBLE ASSETS
Fixtures and fittings
Total
£
£
Cost
At 1 December 2021 and 30 November 2022
40,982
40,982
---------
---------
Depreciation
At 1 December 2021
11,943
11,943
Charge for the year
4,098
4,098
---------
---------
At 30 November 2022
16,041
16,041
---------
---------
Carrying amount
At 30 November 2022
24,941
24,941
---------
---------
At 30 November 2021
29,039
29,039
---------
---------
6. DEBTORS
2022
2021
£
£
Trade debtors
6,734
2,185
Other debtors
155,885
116,920
----------
----------
162,619
119,105
----------
----------
Included within other debtors is an amount of £19,459 owed by a company of which the director of this company is also a director (2021: £18,334).
7. CREDITORS: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
7,200
9,488
Other creditors
148,880
97,920
----------
----------
156,080
107,408
----------
----------
8. CREDITORS: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
39,100
41,249
---------
---------
Bank loans and overdrafts comprise a government backed bounce-back loan.
9. CONTROLLING PARTY
The ultimate controlling party is Mr M Eckstein, a director and shareholder of the company.