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Company Registration No. 08086744 (England and Wales)
SIMON PHIPPS ASSOCIATES LTD Unaudited accounts for the year ended 14 October 2023
SIMON PHIPPS ASSOCIATES LTD Unaudited accounts Contents
Page
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SIMON PHIPPS ASSOCIATES LTD Company Information for the year ended 14 October 2023
Director
Simon Phipps
Company Number
08086744 (England and Wales)
Registered Office
46 Date Street London SE17 2HQ
Accountants
Heartwood Accountants Limited 103 High Street Waltham Cross Herts EN87AN
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of SIMON PHIPPS ASSOCIATES LTD for the year ended 14 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SIMON PHIPPS ASSOCIATES LTD for the year ended 14 October 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of SIMON PHIPPS ASSOCIATES LTD, as a body, in accordance with the terms of our engagement letter dated 27 January 2020. Our work has been undertaken solely to prepare for your approval the accounts of SIMON PHIPPS ASSOCIATES LTD and state those matters that we have agreed to state to the Board of Directors of SIMON PHIPPS ASSOCIATES LTD, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SIMON PHIPPS ASSOCIATES LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that SIMON PHIPPS ASSOCIATES LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of SIMON PHIPPS ASSOCIATES LTD. You consider that SIMON PHIPPS ASSOCIATES LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of SIMON PHIPPS ASSOCIATES LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Heartwood Accountants Limited Chartered Accountants 103 High Street Waltham Cross Herts EN87AN 7 March 2024
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SIMON PHIPPS ASSOCIATES LTD Statement of financial position as at 14 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,436 
360 
Current assets
Debtors
- 
11,644 
Cash at bank and in hand
437 
13,545 
437 
25,189 
Creditors: amounts falling due within one year
(27,822)
(23,760)
Net current (liabilities)/assets
(27,385)
1,429 
Total assets less current liabilities
(21,949)
1,789 
Creditors: amounts falling due after more than one year
(1,729)
(1,387)
Net (liabilities)/assets
(23,678)
402 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(23,679)
401 
Shareholders' funds
(23,678)
402 
For the year ending 14 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 March 2024 and were signed on its behalf by
Simon Phipps Director Company Registration No. 08086744
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SIMON PHIPPS ASSOCIATES LTD Notes to the Accounts for the year ended 14 October 2023
1
Statutory information
SIMON PHIPPS ASSOCIATES LTD is a private company, limited by shares, registered in England and Wales, registration number 08086744. The registered office is 46 Date Street, London, SE17 2HQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33.3% straight line
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 15 October 2022
- 
1,248 
1,248 
Additions
4,850 
1,000 
5,850 
At 14 October 2023
4,850 
2,248 
7,098 
Depreciation
At 15 October 2022
- 
888 
888 
Charge for the year
485 
289 
774 
At 14 October 2023
485 
1,177 
1,662 
Net book value
At 14 October 2023
4,365 
1,071 
5,436 
At 14 October 2022
- 
360 
360 
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SIMON PHIPPS ASSOCIATES LTD Notes to the Accounts for the year ended 14 October 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due after more than one year
Other debtors
- 
11,644 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
654 
654 
VAT
- 
4,102 
Taxes and social security
5,198 
18,314 
Loans from directors
21,970 
- 
Accruals
- 
690 
27,822 
23,760 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
829 
1,387 
Accruals
900 
- 
1,729 
1,387 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Transactions with related parties
The company was under the control of Mr S. Phipps throughout the current year. Mr S. Phipps is personally interested in 100% of the company's share capital.
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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