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REGISTERED NUMBER: 09363625 (England and Wales)















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: Mr. C J Kowalik
Mr. R P Rhodes





REGISTERED OFFICE: Mitre House
Kirkgate
Birtstall
Batley
West Yorkshire
WF17 9HE





REGISTERED NUMBER: 09363625 (England and Wales)





ACCOUNTANTS: Crowther Chartered 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 4 332 28,328

CURRENT ASSETS
Stocks 5 9,550 9,800
Debtors 6 773,468 750,312
Cash at bank 5,224 99,750
788,242 859,862
CREDITORS
Amounts falling due within one year 7 881,905 705,698
NET CURRENT (LIABILITIES)/ASSETS (93,663 ) 154,164
TOTAL ASSETS LESS CURRENT
LIABILITIES

(93,331

)

182,492

CREDITORS
Amounts falling due after more than one
year

8

(83,727

)

(171,067

)

PROVISIONS FOR LIABILITIES - (5,383 )
NET (LIABILITIES)/ASSETS (177,058 ) 6,042

CAPITAL AND RESERVES
Called up share capital 11 300 300
Retained earnings (177,358 ) 5,742
SHAREHOLDERS' FUNDS (177,058 ) 6,042

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 July 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.

Simply IT (GB) Ltd (Registered number: 09363625)

Balance Sheet - continued
30 July 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 Board of Directors and authorised for issue on 26 July 2024 and were signed on its behalf by:





Mr. R P Rhodes - Director


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 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

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 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST
At 31 July 2022 6,424 68,463 37,876 112,763
Additions - - 200 200
Disposals - (68,463 ) - (68,463 )
At 30 July 2023 6,424 - 38,076 44,500
DEPRECIATION
At 31 July 2022 6,275 40,421 37,739 84,435
Charge for year 74 - 80 154
Eliminated on disposal - (40,421 ) - (40,421 )
At 30 July 2023 6,349 - 37,819 44,168
NET BOOK VALUE
At 30 July 2023 75 - 257 332
At 30 July 2022 149 28,042 137 28,328

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 9,550 9,800

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.7.23 30.7.22
£ £
Trade debtors 442,544 477,549
Other debtors 60,919 -
Connected company loan 251,206 272,763
Deferred tax asset 18,799 -
773,468 750,312

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) 44,803 40,000
Hire purchase contracts - 4,312
Trade creditors 271,730 297,039
Factoring account 218,731 144,698
Tax 250,798 167,246
Social security and other tax 20,110 3,260
Pension liability 1,393 847
VAT 57,478 45,721
Wages control 8,338 -
Accrued expenses 8,524 2,575
881,905 705,698

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.7.23 30.7.22
£ £
Bank loans (see note 9) 83,727 133,333
Hire purchase contracts - 37,734
83,727 171,067

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 44,803 40,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 44,803 40,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 38,924 93,333

10. SECURED DEBTS

The following secured debts are included within creditors:

30.7.23 30.7.22
£ £
Bank loans 128,530 173,333
Hire purchase contracts - 42,046
Factoring account - 144,698
128,530 360,077

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: £ £
300 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 it's directors.