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REGISTERED NUMBER: 06468543 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2023

FOR

SIMS WORLDWIDE LIMITED

SIMS WORLDWIDE LIMITED (REGISTERED NUMBER: 06468543)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


SIMS WORLDWIDE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH NOVEMBER 2023







DIRECTORS: K H Daniels-Sims
Mrs L Daniels-Sims





REGISTERED OFFICE: Trade Winds House
Barton Road
Heaton Mersey
Stockport
Cheshire
SK4 3EG





REGISTERED NUMBER: 06468543 (England and Wales)





ACCOUNTANTS: Allens Accountants Limited
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH

SIMS WORLDWIDE LIMITED (REGISTERED NUMBER: 06468543)

BALANCE SHEET
30TH NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 774,198 861,839
774,198 861,839

CURRENT ASSETS
Debtors 6 1,554,532 1,344,765
Cash at bank and in hand 55,493 103,668
1,610,025 1,448,433
CREDITORS
Amounts falling due within one year 7 1,361,656 1,248,679
NET CURRENT ASSETS 248,369 199,754
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,022,567

1,061,593

CREDITORS
Amounts falling due after more than one
year

8

(313,671

)

(455,613

)

PROVISIONS FOR LIABILITIES (136,001 ) (125,714 )
NET ASSETS 572,895 480,266

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 571,895 479,266
SHAREHOLDERS' FUNDS 572,895 480,266

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SIMS WORLDWIDE LIMITED (REGISTERED NUMBER: 06468543)

BALANCE SHEET - continued
30TH NOVEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th April 2024 and were signed on its behalf by:




K H Daniels-Sims - Director



Mrs L Daniels-Sims - Director


SIMS WORLDWIDE LIMITED (REGISTERED NUMBER: 06468543)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023

1. STATUTORY INFORMATION

Sims Worldwide 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.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SIMS WORLDWIDE LIMITED (REGISTERED NUMBER: 06468543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st December 2022
and 30th November 2023 20,500
AMORTISATION
At 1st December 2022
and 30th November 2023 20,500
NET BOOK VALUE
At 30th November 2023 -
At 30th November 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st December 2022 1,605,074
Additions 91,438
At 30th November 2023 1,696,512
DEPRECIATION
At 1st December 2022 743,235
Charge for year 179,079
At 30th November 2023 922,314
NET BOOK VALUE
At 30th November 2023 774,198
At 30th November 2022 861,839

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,039,490 951,579
Other debtors 515,042 393,186
1,554,532 1,344,765

SIMS WORLDWIDE LIMITED (REGISTERED NUMBER: 06468543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 44,444 44,444
Hire purchase contracts 182,142 183,159
Trade creditors 411,055 558,642
Taxation and social security 156,455 55,908
Other creditors 567,560 406,526
1,361,656 1,248,679

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 70,370 114,815
Hire purchase contracts 243,301 340,798
313,671 455,613

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 114,814 159,259
Hire purchase contracts 425,443 523,957
Invoice Financing 476,371 367,105
1,016,628 1,050,321

The debts are secured on the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

SIMS WORLDWIDE LIMITED (REGISTERED NUMBER: 06468543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th November 2023 and 30th November 2022:

2023 2022
£    £   
K H Daniels-Sims and Mrs L Daniels-Sims
Balance outstanding at start of year 195,221 51,413
Amounts advanced 113,647 143,808
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 308,868 195,221