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Registered number: 12523357
SIMPLER TAX LTD
Unaudited Financial Statements
For The Year Ended 31 March 2024
NSBA Ltd
ACMA
17d Back Lane Wymondham
Norwich
NR18 0QB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12523357
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 280,000 30,000
280,000 30,000
CURRENT ASSETS
Debtors 5 - 25,000
Cash at bank and in hand 45,000 -
45,000 25,000
Creditors: Amounts Falling Due Within One Year 6 (171,950 ) (46,950 )
NET CURRENT ASSETS (LIABILITIES) (126,950 ) (21,950 )
TOTAL ASSETS LESS CURRENT LIABILITIES 153,050 8,050
NET ASSETS 153,050 8,050
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 152,950 7,950
SHAREHOLDERS' FUNDS 153,050 8,050
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Craig Davies
Director
13/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
SIMPLER TAX LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12523357 . The registered office is 17D Back Lane, Wymondham, NR18 0QB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20
Fixtures & Fittings 20
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 30,000 - 30,000
Additions - 250,000 250,000
As at 31 March 2024 30,000 250,000 280,000
Net Book Value
As at 31 March 2024 30,000 250,000 280,000
As at 1 April 2023 30,000 - 30,000
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 25,000
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts - 19,500
Director's loan account 171,950 27,450
171,950 46,950
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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