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REGISTERED NUMBER: 13668414 (England and Wales)















Financial Statements for the Year Ended 30 November 2023

for

Simwood Futures Limited

Simwood Futures Limited (Registered number: 13668414)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Simwood Futures Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: S P Woodhead
C R Chance





REGISTERED OFFICE: Simwood House
Cube M4 Business Park
Bristol
Gloucestershire
BS16 1FX





REGISTERED NUMBER: 13668414 (England and Wales)





AUDITORS: Haines Watts Wolverhampton Limited
Statutory Auditors
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

Simwood Futures Limited (Registered number: 13668414)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 172,736 192,435

CURRENT ASSETS
Stocks 159,214 141,612
Debtors 5 4,615 1,699
Cash at bank 18,716 332
182,545 143,643
CREDITORS
Amounts falling due within one year 6 62,862 914
NET CURRENT ASSETS 119,683 142,729
TOTAL ASSETS LESS CURRENT
LIABILITIES

292,419

335,164

PROVISIONS FOR LIABILITIES - 17,697
NET ASSETS 292,419 317,467

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 292,319 317,367
292,419 317,467

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 21 August 2024 and were signed on its behalf by:





S P Woodhead - Director


Simwood Futures Limited (Registered number: 13668414)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Simwood Futures Limited 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.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and other sales taxes.

Under Item 1, Group 5, Schedule 9 of the Value Added Tax Act 1994 the turnover derived from the sale of digital assets from which the company generates its turnover is exempt from VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - at variable rates on reducing balance
Plant and machinery etc - 25% on cost and 10% on reducing balance

Stocks
As at the period end date the company holds an assortment of digital cryptocurrencies. This holding is deemed to be held for the purpose of trade on the basis of regular trading, as a result it is being treated as a current asset within stock.

In accordance with FRS 102 section 13.3, on the basis that this stock is readily realisable and the group is operating in an active market where sale can be achieved at published prices, this stock is being held at Fair Value.

Any gain or loss recognised at the year end date on this holding is treated for taxation purposes on a deferred basis with actual taxation being recognised on crystalisation when the sale and purchase of the various currencies take place.

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.


Simwood Futures Limited (Registered number: 13668414)

Notes to the Financial Statements - continued
for the Year Ended 30 November 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 56,205 155,108 211,313
Additions 12,359 - 12,359
At 30 November 2023 68,564 155,108 223,672
DEPRECIATION
At 1 December 2022 3,031 15,847 18,878
Charge for year 9,160 22,898 32,058
At 30 November 2023 12,191 38,745 50,936
NET BOOK VALUE
At 30 November 2023 56,373 116,363 172,736
At 30 November 2022 53,174 139,261 192,435

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 4,615 1,699

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 50,690 -
Amounts owed to group undertakings 12,172 -
Taxation and social security - 914
62,862 914

Simwood Futures Limited (Registered number: 13668414)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Baker BA FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts Wolverhampton Limited

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Loans made to directors

As at the year end date an amount outstanding due to the company from a Director totalled £1,560. The loan is interest free and repayable on demand.