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Registered Number: 05497852
England and Wales

 

 

 

SIMPLICITY COMMUNICATIONS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 28 July 2022

End date: 27 July 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 5,145    5,455 
5,145    5,455 
Current assets      
Stocks 5 7,933    5,034 
Debtors 6 104,051    130,037 
Cash at bank and in hand 22,886    31,164 
134,870    166,235 
Creditors: amount falling due within one year 7 (110,232)   (116,820)
Net current assets 24,638    49,415 
 
Total assets less current liabilities 29,783    54,870 
Creditors: amount falling due after more than one year 8 (29,544)   (54,236)
Provisions for liabilities 9 (139)   (614)
Net assets 100    20 
 

Capital and reserves
     
Called up share capital 10 50    50 
Profit and loss account 50    (30)
Shareholder's funds 100    20 
 


For the year ended 27 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 22 April 2024 and were signed by:


-------------------------------
D N Adams
Director
1
General Information
Simplicity Communications Limited is a private company, limited by shares, registered in England and Wales, registration number 05497852, registration address Unit 15 Orbital 25 Business Park, Dwight Road, Watford, Hertfordshire, WD18 9DA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown as sales net of value added tax, returns, rebates and discounts.

The company recognises revenue when:

the amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Website development costs
Website development costs are capitalised once the website becomes live and is amortised on a straight line basis over 3 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Office Equipment 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 3 (2022 : 2).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 28 July 2022 10,375    10,375 
Additions  
Disposals  
At 27 July 2023 10,375    10,375 
Amortisation
At 28 July 2022 10,375    10,375 
Charge for year  
On disposals  
At 27 July 2023 10,375    10,375 
Net book values
At 27 July 2023  
At 27 July 2022  


4.

Tangible fixed assets

Cost or valuation Office Equipment   Total
  £   £
At 28 July 2022 18,160    18,160 
Additions 993    993 
Disposals  
At 27 July 2023 19,153    19,153 
Depreciation
At 28 July 2022 12,705    12,705 
Charge for year 1,303    1,303 
On disposals  
At 27 July 2023 14,008    14,008 
Net book values
Closing balance as at 27 July 2023 5,145    5,145 
Opening balance as at 28 July 2022 5,455    5,455 


5.

Stocks

2023
£
  2022
£
Stocks 7,933    5,034 
7,933    5,034 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 21,240    37,040 
Amount Owed by Participating Interests 41,300    11,000 
Prepayments & Accrued Income 5,981    6,904 
Accrued Income 3,882    2,646 
Other Debtors 7,763    15,317 
Directors' Current Accounts 23,885    57,130 
104,051    130,037 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 18,822    38,435 
Bank Loans & Overdrafts 24,693    24,693 
Corporation Tax 36,818    26,720 
PAYE & Social Security 7,800    719 
Other Creditors   (1)
Obligations under HP/Financial Leases   1,283 
VAT 22,099    24,971 
110,232    116,820 

8.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 29,544    54,236 
29,544    54,236 

9.

Provisions for liabilities

2023
£
  2022
£
Pension Provisions 139    614 
139    614 

10.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
50 Class A shares of £1.00 each 50    50 
50    50 

11.

Director’s loan

Transactions with the director

As at 27 July 2023 the amount owed to the company by the director was £23,885 (2022 - £57,130). No interest was charged in respect of this balance and the amount is repayable on demand.
2