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REGISTERED NUMBER: 12255416 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Simstrad Limited

Simstrad Limited (Registered number: 12255416)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Simstrad Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: R Simmons





REGISTERED OFFICE: Osbrooks
Horsham Road
Capel
Surrey
RH5 5JN





REGISTERED NUMBER: 12255416 (England and Wales)





ACCOUNTANTS: Ledger Sparks Ltd
Airport House
Suite 43-45 Purley Way
Croydon
Surrey
CR0 0XZ

Simstrad Limited (Registered number: 12255416)

Balance Sheet
31 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 585,000 565,000

CURRENT ASSETS
Debtors 5 - 819
Cash at bank 3,981 5,282
3,981 6,101
CREDITORS
Amounts falling due within one year 6 (546,436 ) (548,100 )
NET CURRENT LIABILITIES (542,455 ) (541,999 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,545

23,001

PROVISIONS FOR LIABILITIES (7,922 ) (7,720 )
NET ASSETS 34,623 15,281

CAPITAL AND RESERVES
Called up share capital 100 100
Investment property reserve 7 33,774 13,977
Retained earnings 7 749 1,204
34,623 15,281

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

Simstrad Limited (Registered number: 12255416)

Balance Sheet - continued
31 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 1 March 2024 and were signed by:





R Simmons - Director


Simstrad Limited (Registered number: 12255416)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Simstrad 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 (£).


The principal activity of the company was that of buying and selling of own real estate.

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 as modified by the revaluation of certain assets.

TURNOVER
Turnover represents amounts receivable for rent.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

TAXATION
The tax expense represents the sum of the tax currently payable.

CURRENT TAX
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DEFERRED TAX
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to income statement in the year that the Company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in Balance sheet.

Simstrad Limited (Registered number: 12255416)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

GOING CONCERN
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 565,000
Revaluations 20,000
At 31 October 2023 585,000
NET BOOK VALUE
At 31 October 2023 585,000
At 31 October 2022 565,000

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2021 22,003
Valuation in 2022 (306 )
Valuation in 2023 20,000
Cost 543,303
585,000

Investment property comprises of 3 properties. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties by directors. Deferred tax has been calculated on the revalued amounts and provided for within the financial statements.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 819

The directors consider the carrying value of trade and other receivables approximate to their fair value.

Simstrad Limited (Registered number: 12255416)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 13
Taxation and social security 363 185
Other creditors 546,073 547,902
546,436 548,100

The directors consider the carrying amounts of current liabilities approximate to their fair values.

7. RESERVES

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

INVESTMENT PROPERTY RESERVES
The Company uses the fair value model for the measurement of its investment properties. Investment property reserves consist of fair value adjustment of £20,000 (2022 - £306) add the corresponding deferred tax calculated on the fair value of £203 (2022- £3,539) in relation to investment properties. This is a non distributable reserve.

8. RELATED PARTY DISCLOSURES

As at the balance sheet date included in other creditors were amounts of £544,663 (2022- £546,563) due to the director.