Company Registration No. 06507563 (England and Wales)
Simpsons Health Foods Limited
Unaudited accounts
for the period from 28 February 2023 to 27 February 2024
Simpsons Health Foods Limited
Unaudited accounts
Contents
Simpsons Health Foods Limited
Company Information
for the period from 28 February 2023 to 27 February 2024
Director
Leonard Glenville
Company Number
06507563 (England and Wales)
Registered Office
44 Cliffe High Street
Lewes
East Sussex
BN7 2AN
Simpsons Health Foods Limited
Statement of financial position
as at 27 February 2024
Tangible assets
2,079
2,979
Cash at bank and in hand
33,625
73,074
Creditors: amounts falling due within one year
(78,051)
(61,595)
Net current assets
102,882
79,948
Called up share capital
49
49
Capital redemption reserve
51
51
Profit and loss account
104,861
82,827
Shareholders' funds
104,961
82,927
For the period ending 27 February 2024 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 July 2024 and were signed on its behalf by
Leonard Glenville
Director
Company Registration No. 06507563
Simpsons Health Foods Limited
Notes to the Accounts
for the period from 28 February 2023 to 27 February 2024
Simpsons Health Foods Limited is a private company, limited by shares, registered in England and Wales, registration number 06507563. The registered office is 44 Cliffe High Street, Lewes, East Sussex, BN7 2AN.
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The company has adopted the going concern basis of accounting in the preparation of these financial statements.
Revenue, described as turnover, is the value of goods sold to customers during the year, net of VAT and discounts.
Revenue is recognised on the sale of goods when the goods are delivered and title has passed.
Goodwill is amortised on a straight line basis over its estimated useful economic life of 10 years.
Tangible fixed assets and depreciation
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value, of each asset over its expected useful life, as follows:
Land & buildings
straight line over the remaining term of the lease
Fixtures & fittings
25% per annum on a reducing balance basis
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes any expenditure incurred in bringing the stock to its present location and condition.
A "first in first out" basis is used. Borrowing costs are not capitalised. Where consignment stock is in substance an asset of the company, it is recognised as such on the balance sheet.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease.
Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases) the assets are treated as if they had been purchased outright. The amount capitalised is the fair value of the asset concerned.
The corresponding liability to the leasing company is included as an obligation under finance leases. Depreciation is charged to the profit and loss account over the shorter of the lease term and their useful lives. Leasing payments are treated as consisting
of capital and interest elements, and interest is charged to the profit and loss account on a straight line basis which is considered to be a reasonable approximation to a constant rate of charge on the outstanding balance.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Simpsons Health Foods Limited
Notes to the Accounts
for the period from 28 February 2023 to 27 February 2024
3
Intangible fixed assets
Goodwill
At 28 February 2023
27,497
At 27 February 2024
27,497
At 28 February 2023
27,497
At 27 February 2024
27,497
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 28 February 2023
4,356
25,932
30,288
At 27 February 2024
4,356
25,932
30,288
At 28 February 2023
3,233
24,076
27,309
Charge for the period
436
464
900
At 27 February 2024
3,669
24,540
28,209
At 27 February 2024
687
1,392
2,079
At 27 February 2023
1,123
1,856
2,979
Amounts falling due within one year
Amounts due from group undertakings etc.
96,293
-
Accrued income and prepayments
5,000
5,900
Other debtors
7,300
19,552
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
61,351
51,686
Taxes and social security
14,838
9,015
Simpsons Health Foods Limited
Notes to the Accounts
for the period from 28 February 2023 to 27 February 2024
7
Operating lease commitments
2024
2023
At 27 February 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
20,000
20,000
Later than one year and not later than five years
20,000
20,000
8
Transactions with related parties
The following material transactions with related parties have not been conducted under normal market conditions:
The amounts owed by group undertakings of £96,293 (2023: £0) comprise various loans and advances. All balances are repayable on demand and are not chargeable to interest.
The company is a subsidiary, however, no consolidated financial statements are prepared for any group within which the company is a member.
10
Average number of employees
During the period the average number of employees was 8 (2023: 8).