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REGISTERED NUMBER: 07920300 (England and Wales)







FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2023

FOR

SIMONSCO LIMITED

SIMONSCO LIMITED (REGISTERED NUMBER: 07920300)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SIMONSCO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2023







DIRECTOR: S J Scowcroft





SECRETARY: Mrs F J Scowcroft





REGISTERED OFFICE: Cherry Tree House
Bynd Lane
Billingsley
Bridgnorth
Shropshire
WV16 6PQ





REGISTERED NUMBER: 07920300 (England and Wales)





ACCOUNTANTS: Stanton Ralph & Co Limited
Chartered Accountants
The Old Police Station
Whitburn Street
Bridgnorth
Shropshire
WV16 4QP

SIMONSCO LIMITED (REGISTERED NUMBER: 07920300)

BALANCE SHEET
31ST OCTOBER 2023

31.10.22 31.10.23
£    £    Notes £    £   
FIXED ASSETS
- Tangible assets 4 -
2,496,511 Investments 5 2,496,511
2,496,511 2,496,511

CURRENT ASSETS
18,690 Debtors 6 19,064
645 Cash at bank 573
19,335 19,637
CREDITORS
2,149 Amounts falling due within one year 7 2,199
17,186 NET CURRENT ASSETS 17,438
2,513,697 TOTAL ASSETS LESS CURRENT LIABILITIES 2,513,949

CREDITORS

2,069,310
Amounts falling due after more than one
year

8

2,071,160
444,387 NET ASSETS 442,789

CAPITAL AND RESERVES
433,682 Called up share capital 10 433,682
10,705 Retained earnings 9,107
444,387 SHAREHOLDERS' FUNDS 442,789

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SIMONSCO LIMITED (REGISTERED NUMBER: 07920300)

BALANCE SHEET - continued
31ST OCTOBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18th January 2024 and were signed by:





S J Scowcroft - Director


SIMONSCO LIMITED (REGISTERED NUMBER: 07920300)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023

1. STATUTORY INFORMATION

Simonsco Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Simonsco Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

SIMONSCO LIMITED (REGISTERED NUMBER: 07920300)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st November 2022
and 31st October 2023 671
DEPRECIATION
At 1st November 2022
and 31st October 2023 671
NET BOOK VALUE
At 31st October 2023 -

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1st November 2022
and 31st October 2023 2,496,511
NET BOOK VALUE
At 31st October 2023 2,496,511
At 31st October 2022 2,496,511

Fixed asset investments represent investment in the company's subsidiary undertaking, Libra Systems Limited.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 19,064 18,690

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Taxation and social security - 300
Other creditors 2,199 1,849
2,199 2,149

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Amounts owed to group undertakings 2,071,160 2,069,310

SIMONSCO LIMITED (REGISTERED NUMBER: 07920300)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023

9. SECURED DEBTS

HSBC Invoice Finance Limited holds a fixed charge over trade debtors within the subsidiary undertaking, Libra Systems Limited, as security over amounts advanced, by an unlimited composite guarantee from the company and Libra Systems Limited. A floating charge has also been given over all of the assets of the group.

A cross guarantee exists between group companies where compensating balances are off-set against each other. As at the company's balance sheet date, there are no overdrawn bank balances.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
433,682 Ordinary 1 433,682 433,682

As a result of a group reorganisation on 26 October 2021 the company issued 433,582 ordinary shares at their nominal value of £1 each.

11. CONTINGENT LIABILITIES

The company has entered into an unlimited composite guarantee with its bankers in respect of its own and its subsidiary undertaking Libra Systems Limited's liabilities. At 31st October 2022 the group's total indebtedness under this guarantee is £658,580 (2021: £244,471).

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st October 2023 and 31st October 2022:

31.10.23 31.10.22
£    £   
S J Scowcroft
Balance outstanding at start of year 18,690 3,951
Amounts advanced - 19,562
Amounts repaid - (4,823 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,690 18,690

No interest is charged.