REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 July 2023 |
for |
Simply IT (GB) Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 July 2023 |
for |
Simply IT (GB) Ltd |
Simply IT (GB) Ltd (Registered number: 09363625) |
Contents of the Financial Statements |
for the Year Ended 30 July 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Simply IT (GB) Ltd |
Company Information |
for the Year Ended 30 July 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Abacus House |
Pennine Business Park |
Longbow Close |
Huddersfield |
West Yorkshire |
HD2 1GQ |
Simply IT (GB) Ltd (Registered number: 09363625) |
Balance Sheet |
30 July 2023 |
30.7.23 | 30.7.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
Simply IT (GB) Ltd (Registered number: 09363625) |
Balance Sheet - continued |
30 July 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Simply IT (GB) Ltd (Registered number: 09363625) |
Notes to the Financial Statements |
for the Year Ended 30 July 2023 |
1. | STATUTORY INFORMATION |
Simply IT (GB) Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
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. |
Simply IT (GB) Ltd (Registered number: 09363625) |
Notes to the Financial Statements - continued |
for the Year Ended 30 July 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 31 July 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 July 2023 |
DEPRECIATION |
At 31 July 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 July 2023 |
NET BOOK VALUE |
At 30 July 2023 |
At 30 July 2022 |
Included within fixed assets are the following held under hire purchase: |
Motor vehicles - NBV £nil (2022 - £28,042) Depreciation £nil (2022 - £7,011) |
5. | STOCKS |
30.7.23 | 30.7.22 |
£ | £ |
Stocks |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.7.23 | 30.7.22 |
£ | £ |
Trade debtors |
Other debtors |
Connected company loan | 251,206 | 272,763 |
Deferred tax asset |
Simply IT (GB) Ltd (Registered number: 09363625) |
Notes to the Financial Statements - continued |
for the Year Ended 30 July 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.7.23 | 30.7.22 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Hire purchase contracts |
Trade creditors |
Factoring account |
Tax |
Social security and other tax |
Pension liability | 1,393 | 847 |
VAT | 57,478 | 45,721 |
Wages control | 8,338 | - |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.7.23 | 30.7.22 |
£ | £ |
Bank loans (see note 9) |
Hire purchase contracts |
9. | LOANS |
An analysis of the maturity of loans is given below: |
30.7.23 | 30.7.22 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.7.23 | 30.7.22 |
£ | £ |
Bank loans |
Hire purchase contracts | - | 42,046 |
Factoring account | - | 144,698 |
Simply IT (GB) Ltd (Registered number: 09363625) |
Notes to the Financial Statements - continued |
for the Year Ended 30 July 2023 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.7.23 | 30.7.22 |
value: | £ | £ |
Ordinary | £1 | 300 | 300 |
12. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
At the balance sheet date, the company was owed £442 (2022 - £297) from Simply Office Supplies (UK) Ltd. The directors in Simply IT (GB) Ltd, are also directors in Simply Office Supplies (UK) Ltd. |
At the balance sheet date, the company was owed £1,500 (2022 - £1,500) from Integrated Solutions (GB) Ltd. The directors in Simply IT (GB) Ltd, are also directors in Integrated Solutions (GB) Ltd. |
13. | ULTIMATE CONTROLLING PARTY |
The controlling party is The Simply Group of Companies Ltd. |
The ultimate controlling party is |