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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
Page
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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
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Simpsons Health Foods Limited Statement of financial position as at 27 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,079 
2,979 
Current assets
Inventories
38,715 
43,017 
Debtors
108,593 
25,452 
Cash at bank and in hand
33,625 
73,074 
180,933 
141,543 
Creditors: amounts falling due within one year
(78,051)
(61,595)
Net current assets
102,882 
79,948 
Net assets
104,961 
82,927 
Capital and reserves
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
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Simpsons Health Foods Limited Notes to the Accounts for the period from 28 February 2023 to 27 February 2024
1
Statutory information
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.
2
Accounting policies
Accounting convention
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.
Going concern
The company has adopted the going concern basis of accounting in the preparation of these financial statements.
Revenue recognition
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.
Intangible assets
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
Stocks
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.
Operating leases
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.
Pension costs
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.
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Simpsons Health Foods Limited Notes to the Accounts for the period from 28 February 2023 to 27 February 2024
3
Intangible fixed assets
Goodwill 
£ 
Cost
At 28 February 2023
27,497 
At 27 February 2024
27,497 
Amortisation
At 28 February 2023
27,497 
At 27 February 2024
27,497 
Net book value
At 27 February 2024
- 
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 
Depreciation
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 
Net book value
At 27 February 2024
687 
1,392 
2,079 
At 27 February 2023
1,123 
1,856 
2,979 
5
Debtors
2024 
2023 
£ 
£ 
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 
108,593 
25,452 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
61,351 
51,686 
Taxes and social security
14,838 
9,015 
Other creditors
462 
394 
Accruals
1,400 
500 
78,051 
61,595 
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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 
40,000 
40,000 
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.
9
Controlling party
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).
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