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Registered number: 12562073
Simpall Homes Limited
Unaudited Financial Statements
For The Year Ended 30 April 2023
Edge Tax
B2 Vantage Office Park
Old Gloucester Road
Hambrook
Bristol
BS16 1GW
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12562073
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,052 -
Investment Properties 5 204,000 201,000
207,052 201,000
CURRENT ASSETS
Debtors 6 6,900 141
Cash at bank and in hand 10,007 1,148
16,907 1,289
Creditors: Amounts Falling Due Within One Year 7 (126,992 ) (69,687 )
NET CURRENT ASSETS (LIABILITIES) (110,085 ) (68,398 )
TOTAL ASSETS LESS CURRENT LIABILITIES 96,967 132,602
Creditors: Amounts Falling Due After More Than One Year 8 (171,266 ) (175,093 )
NET LIABILITIES (74,299 ) (42,491 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Revaluation reserve 10 14,255 31,186
Profit and Loss Account (88,556 ) (73,679 )
SHAREHOLDERS' FUNDS (74,299) (42,491)
Page 1
Page 2
For the year ending 30 April 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Beverley Tindale
Director
23rd April 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Simpall Homes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12562073 . The registered office is Edge House, B2 Vantage Office Park, Bristol, BS16 1GW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 15% Straight Line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Fixtures & Fittings
£
Cost or Valuation
As at 1 May 2022 -
Additions 3,590
As at 30 April 2023 3,590
Depreciation
As at 1 May 2022 -
Provided during the period 538
As at 30 April 2023 538
Net Book Value
As at 30 April 2023 3,052
As at 1 May 2022 -
Page 3
Page 4
5. Investment Property
2023
£
Fair Value
As at 1 May 2022 201,000
Additions 19,931
Fair value adjustments (16,931 )
As at 30 April 2023 204,000
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors (47 ) -
Prepayments and accrued income (452 ) 141
Directors' loan accounts 7,399 -
6,900 141
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 960 -
Simpall Property Solutions Limited 5,432 5,145
Angel Loan - Gillian Murray 20,000 -
Angel Loan - Jennie Emms 20,000 -
Loan - David Dick 78,000 -
Accruals and deferred income 1,950 1,093
Directors' loan accounts 650 63,449
126,992 69,687
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 57,093
Other loans - 118,000
Mortgage - 20 Londonderry 171,266 -
171,266 175,093
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
Page 4
Page 5
10. Reserves
Revaluation Reserve
£
As at 1 May 2022 31,186
Deficit on revaluation (16,931)
As at 30 April 2023 14,255
Page 5