REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 October 2023 |
for |
SIMI HOLDING LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 October 2023 |
for |
SIMI HOLDING LIMITED |
SIMI HOLDING LIMITED (REGISTERED NUMBER: 10429519) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SIMI HOLDING LIMITED |
Company Information |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
27 Hill Street |
Mayfair, London |
W1J 5LP |
SIMI HOLDING LIMITED (REGISTERED NUMBER: 10429519) |
Balance Sheet |
31 OCTOBER 2023 |
31.10.23 | 31.10.22 |
Notes | € | € |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
Retained earnings |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
SIMI HOLDING LIMITED (REGISTERED NUMBER: 10429519) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
1. | STATUTORY INFORMATION |
Simi Holding Limited is a |
The presentation currency of the financial statements is the Euro (€). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investments in subsidiaries |
Investments in Subsidiaries are recorded at cost, and subsequently stated at cost less any accumulated impairment losses. |
The carrying value is reviewed for permanent diminution when events or changes in circumstances indicate the carrying value may not be recoverable. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into Euro at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into Euro at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Going concern |
The accounts have been prepared on the going concern basis. At the balance sheet date the company has net assets of € 3,219,690 (2022: €3,244,512). The director is of the opinion that the shareholder of the company will continue to support it, and provide adequate funding when necessary to enable it to meet its obligations for the foreseeable future, being for a period of at least twelve months from the date of approval of the financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
SIMI HOLDING LIMITED (REGISTERED NUMBER: 10429519) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
Subsidiaries |
€ |
COST |
At 1 November 2022 |
and 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
The company sold the holding of 60% ordinary share capital in Return SRL (company registered in Italy) to Alma Grand SA (company registered in Luxembourg) on March 7, 2022. |
The loan to Return SRL (principal and interest) with total of €7,667,008 was also assigned to Alma Grand SA on March 7, 2022. |
5. | DEBTORS |
31.10.23 | 31.10.22 |
€ | € |
Amounts falling due within one year: |
Amounts owed by group undertakings |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.23 | 31.10.22 |
€ | € |
Trade creditors |
Tax |
Accruals and deferred income |
7. | RELATED PARTY DISCLOSURES |
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 1A other than those disclosed in notes 4 and 5 to the financial statements. |
8. | PARENT-SUBSIDIARY RELATIONSHIP |
The company's immediate and ultimate parent company is Alma Grand SA, a company incorporated in Luxembourg. Its registered address is 4 Rue Albert, Borschette, L-1246 Luxembourg. |
9. | RESERVES |
The other reserves represents Capital contribution from the shareholder. |