2023-03-012024-02-292024-02-29false07528598Simpla Solutions 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Simpla Solutions Limited

Registered Number
07528598
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

Simpla Solutions Limited
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

Mr K Marsch

Registered Address

31 Appledore Close
Victoria Dock
Hull
HU9 1PZ

Registered Number

07528598 (England and Wales)
Simpla Solutions Limited
Statement of Financial Position
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3861399
861399
Current assets
Stocks412,6066,600
Debtors2,05984
Cash at bank and on hand58,56967,595
73,23474,279
Creditors amounts falling due within one year6(36,040)(37,060)
Net current assets (liabilities)37,19437,219
Total assets less current liabilities38,05537,618
Provisions for liabilities7(163)(76)
Net assets37,89237,542
Capital and reserves
Called up share capital22
Profit and loss account37,89037,540
Shareholders' funds37,89237,542
The financial statements were approved and authorised for issue by the Director on 19 March 2024, and are signed on its behalf by:
Mr K Marsch
Director
Registered Company No. 07528598
Simpla Solutions Limited
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment4
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 March 23458458
Additions812812
Disposals(249)(249)
At 29 February 241,0211,021
Depreciation and impairment
At 01 March 235959
Charge for year142142
On disposals(41)(41)
At 29 February 24160160
Net book value
At 29 February 24861861
At 28 February 23399399
4.Stocks

2024

2023

££
Finished goods12,6066,600
Total12,6066,600
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables2,05984
Total2,05984
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Amounts owed to related parties461,797
Taxation and social security8,7258,428
Other creditors1,400-
Accrued liabilities and deferred income25,86926,835
Total36,04037,060
Short term creditors are measured at transaction price (which is usually the invoice price).
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)16376
Total16376