IRIS Accounts Production v24.1.9.2 05210780 Board of Directors 1.9.22 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh052107802022-08-31052107802023-12-31052107802022-09-012023-12-31052107802021-08-31052107802021-09-012022-08-31052107802022-08-3105210780ns15:EnglandWales2022-09-012023-12-3105210780ns14:PoundSterling2022-09-012023-12-3105210780ns10:Director12022-09-012023-12-3105210780ns10:PrivateLimitedCompanyLtd2022-09-012023-12-3105210780ns10:SmallEntities2022-09-012023-12-3105210780ns10:AuditExempt-NoAccountantsReport2022-09-012023-12-3105210780ns10:SmallCompaniesRegimeForDirectorsReport2022-09-012023-12-3105210780ns10:SmallCompaniesRegimeForAccounts2022-09-012023-12-3105210780ns10:FullAccounts2022-09-012023-12-310521078012022-09-012023-12-3105210780ns10:Director22022-09-012023-12-3105210780ns10:Director32022-09-012023-12-3105210780ns10:CompanySecretary12022-09-012023-12-3105210780ns10:RegisteredOffice2022-09-012023-12-3105210780ns5:CurrentFinancialInstruments2023-12-3105210780ns5:CurrentFinancialInstruments2022-08-3105210780ns5:ShareCapital2023-12-3105210780ns5:ShareCapital2022-08-3105210780ns5:RetainedEarningsAccumulatedLosses2023-12-3105210780ns5:RetainedEarningsAccumulatedLosses2022-08-3105210780ns5:IntangibleAssetsOtherThanGoodwill2022-09-012023-12-3105210780ns5:PatentsTrademarksLicencesConcessionsSimilar2022-09-012023-12-3105210780ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-09-012023-12-3105210780ns5:PlantMachinery2022-09-012023-12-3105210780ns5:FurnitureFittings2022-09-012023-12-3105210780ns5:MotorVehicles2022-09-012023-12-3105210780ns5:ComputerEquipment2022-09-012023-12-3105210780ns5:PatentsTrademarksLicencesConcessionsSimilar2022-08-3105210780ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-08-3105210780ns5:PatentsTrademarksLicencesConcessionsSimilar2023-12-3105210780ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-12-3105210780ns5:PatentsTrademarksLicencesConcessionsSimilar2022-08-3105210780ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-08-3105210780ns5:PlantMachinery2022-08-3105210780ns5:FurnitureFittings2022-08-3105210780ns5:MotorVehicles2022-08-3105210780ns5:ComputerEquipment2022-08-3105210780ns5:PlantMachinery2023-12-3105210780ns5:FurnitureFittings2023-12-3105210780ns5:MotorVehicles2023-12-3105210780ns5:ComputerEquipment2023-12-3105210780ns5:PlantMachinery2022-08-3105210780ns5:FurnitureFittings2022-08-3105210780ns5:MotorVehicles2022-08-3105210780ns5:ComputerEquipment2022-08-3105210780ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105210780ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-08-31
REGISTERED NUMBER: 05210780 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 DECEMBER 2023

FOR

SIM 2000 IMAGING LTD

SIM 2000 IMAGING LTD (REGISTERED NUMBER: 05210780)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1 September 2022 to 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SIM 2000 IMAGING LTD

COMPANY INFORMATION
for the Period 1 September 2022 to 31 December 2023







DIRECTORS: A I Peacock
L C Simpson
Mrs C A Simpson





SECRETARY: Mrs C A Simpson





REGISTERED OFFICE: Bridge House
25 Fiddlebridge Lane
Hatfield
Hertfordshire
AL10 0SP





REGISTERED NUMBER: 05210780 (England and Wales)





ACCOUNTANTS: Lovetts Accountants Limited
Bridge House
25 Fiddlebridge Lane
Hatfield
Hertfordshire
AL10 0SP

SIM 2000 IMAGING LTD (REGISTERED NUMBER: 05210780)

BALANCE SHEET
31 December 2023

31.12.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 16,192 29,146
Tangible assets 5 310,120 245,439
326,312 274,585

CURRENT ASSETS
Stocks 169,491 163,164
Debtors 6 239,191 115,155
Cash at bank 228,682 216,342
637,364 494,661
CREDITORS
Amounts falling due within one year 7 417,321 477,352
NET CURRENT ASSETS 220,043 17,309
TOTAL ASSETS LESS CURRENT
LIABILITIES

546,355

291,894

PROVISIONS FOR LIABILITIES 63,732 35,838
NET ASSETS 482,623 256,056

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 482,523 255,956
SHAREHOLDERS' FUNDS 482,623 256,056

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

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

SIM 2000 IMAGING LTD (REGISTERED NUMBER: 05210780)

BALANCE SHEET - continued
31 December 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 19 July 2024 and were signed on its behalf by:





L C Simpson - Director


SIM 2000 IMAGING LTD (REGISTERED NUMBER: 05210780)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1 September 2022 to 31 December 2023

1. STATUTORY INFORMATION

SIM 2000 Imaging 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of three years.

Development costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the period 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.


SIM 2000 IMAGING LTD (REGISTERED NUMBER: 05210780)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 September 2022 to 31 December 2023

2. ACCOUNTING POLICIES - continued
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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 23 (2022 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and Development
licences costs Totals
£    £    £   
COST
At 1 September 2022
and 31 December 2023 27,818 132,518 160,336
AMORTISATION
At 1 September 2022 27,487 103,703 131,190
Amortisation for period 147 12,807 12,954
At 31 December 2023 27,634 116,510 144,144
NET BOOK VALUE
At 31 December 2023 184 16,008 16,192
At 31 August 2022 331 28,815 29,146

SIM 2000 IMAGING LTD (REGISTERED NUMBER: 05210780)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 September 2022 to 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2022 1,388,064 229,830 83,716 97,967 1,799,577
Additions 19,909 702 126,221 15,745 162,577
Disposals - - (29,223 ) - (29,223 )
At 31 December 2023 1,407,973 230,532 180,714 113,712 1,932,931
DEPRECIATION
At 1 September 2022 1,231,255 187,942 53,660 81,281 1,554,138
Charge for period 56,689 8,493 22,594 7,471 95,247
Eliminated on disposal - - (26,574 ) - (26,574 )
At 31 December 2023 1,287,944 196,435 49,680 88,752 1,622,811
NET BOOK VALUE
At 31 December 2023 120,029 34,097 131,034 24,960 310,120
At 31 August 2022 156,809 41,888 30,056 16,686 245,439

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.8.22
£    £   
Trade debtors 85,465 29,438
Other debtors 153,726 85,717
239,191 115,155

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.8.22
£    £   
Hire purchase contracts - 880
Trade creditors 117,493 130,442
Taxation and social security 114,168 96,276
Other creditors 185,660 249,754
417,321 477,352