2 31/07/2023 2023-07-31 false false false false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2022-08-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 13763452 2022-08-01 2023-07-31 13763452 2023-07-31 13763452 2021-08-01 2022-07-31 13763452 2022-07-31 13763452 bus:RegisteredOffice 2022-08-01 2023-07-31 13763452 bus:LeadAgentIfApplicable 2022-08-01 2023-07-31 13763452 bus:Director1 2022-08-01 2023-07-31 13763452 bus:Director2 2022-08-01 2023-07-31 13763452 core:WithinOneYear 2023-07-31 13763452 core:WithinOneYear 2022-07-31 13763452 core:ShareCapital 2023-07-31 13763452 core:ShareCapital 2022-07-31 13763452 core:RevaluationReserve 2023-07-31 13763452 core:RevaluationReserve 2022-07-31 13763452 core:RetainedEarningsAccumulatedLosses 2023-07-31 13763452 core:RetainedEarningsAccumulatedLosses 2022-07-31 13763452 core:CostValuation core:Non-currentFinancialInstruments 2023-07-31 13763452 core:Non-currentFinancialInstruments 2023-07-31 13763452 core:Non-currentFinancialInstruments 2022-07-31 13763452 bus:Director1 2023-07-31 13763452 bus:SmallEntities 2022-08-01 2023-07-31 13763452 bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 13763452 bus:FullAccounts 2022-08-01 2023-07-31 13763452 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 13763452 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31
Company registration number: 13763452
Simmat Holdings Limited
Unaudited filleted financial statements
31 July 2023
Simmat Holdings Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Simmat Holdings Limited
Directors and other information
Directors Mr S Lowth
Mr M Lowth
Company number 13763452
Registered office 45/49 Greek Street
Stockport
Cheshire
SK3 8AX
Accountants Downham Morris & Co
45-49 Greek Street
Stockport
Cheshire
SK3 8AX
Simmat Holdings Limited
Statement of financial position
31 July 2023
2023 2022
Note £ £ £ £
Fixed assets
Investments 5 1,142,857 1,142,857
_______ _______
1,142,857 1,142,857
Creditors: amounts falling due
within one year 6 ( 425,114) ( 570,873)
_______ _______
Net current liabilities ( 425,114) ( 570,873)
_______ _______
Total assets less current liabilities 717,743 571,984
_______ _______
Net assets 717,743 571,984
_______ _______
Capital and reserves
Called up share capital 26,316 26,316
Revaluation reserve 316,541 316,541
Profit and loss account 374,886 229,127
_______ _______
Shareholders funds 717,743 571,984
_______ _______
For the year ending 31 July 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.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 13 February 2024 , and are signed on behalf of the board by:
.........................
Mr S Lowth
Director
Company registration number: 13763452
Simmat Holdings Limited
Notes to the financial statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 45/49 Greek Street, Stockport, Cheshire, SK3 8AX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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. 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 are 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 company 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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. 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 amounted to 2 (2022: 2 ).
5. Investments
Shares in group undertakings Total
£ £
Cost
At 1 August 2022 and 31 July 2023 1,142,857 1,142,857
_______ _______
Impairment
At 1 August 2022 and 31 July 2023 - -
_______ _______
Carrying amount
At 31 July 2023 1,142,857 1,142,857
_______ _______
At 31 July 2022 1,142,857 1,142,857
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 420,873 570,873
Other creditors 4,241 -
_______ _______
425,114 570,873
_______ _______
7. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr S Lowth - ( 4,241) ( 4,241)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr S Lowth - - -
_______ _______ _______