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REGISTERED NUMBER: 03751170 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SIMON CNC SERVICES LIMITED

SIMON CNC SERVICES LIMITED (REGISTERED NUMBER: 03751170)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SIMON CNC SERVICES LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: S Newton
R S Newton





SECRETARY: S Newton





REGISTERED OFFICE: Unit 1
Old Brick Works Lane
Chesterfield
Derbyshire
S41 7JD





REGISTERED NUMBER: 03751170 (England and Wales)

SIMON CNC SERVICES LIMITED (REGISTERED NUMBER: 03751170)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 269,304 228,624

CURRENT ASSETS
Stocks 181,208 143,247
Debtors 6 68,849 68,007
Cash at bank and in hand 169,488 222,752
419,545 434,006
CREDITORS
Amounts falling due within one year 7 152,232 181,301
NET CURRENT ASSETS 267,313 252,705
TOTAL ASSETS LESS CURRENT
LIABILITIES

536,617

481,329

CREDITORS
Amounts falling due after more than one
year

8

(60,356

)

(88,157

)

PROVISIONS FOR LIABILITIES (24,007 ) (6,689 )
NET ASSETS 452,254 386,483

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 452,154 386,383
SHAREHOLDERS' FUNDS 452,254 386,483

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SIMON CNC SERVICES LIMITED (REGISTERED NUMBER: 03751170)

BALANCE SHEET - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





S Newton - Director


SIMON CNC SERVICES LIMITED (REGISTERED NUMBER: 03751170)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Simon CNC Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


All monetary values stated within these financial statements are rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Revenue from services is recognised when the company has been judged to have achieved the right to consideration resulting from a level of completed performance under individual contracts but only to the extent that the outcome of such contracts can be assessed with reasonable certainty.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance and 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


SIMON CNC SERVICES LIMITED (REGISTERED NUMBER: 03751170)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

SIMON CNC SERVICES LIMITED (REGISTERED NUMBER: 03751170)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 April 2023 165,555 142,341 29,148
Additions - 2,555 -
Disposals - - -
At 31 March 2024 165,555 144,896 29,148
DEPRECIATION
At 1 April 2023 - 119,475 28,751
Charge for year - 4,907 101
Eliminated on disposal - - -
At 31 March 2024 - 124,382 28,852
NET BOOK VALUE
At 31 March 2024 165,555 20,514 296
At 31 March 2023 165,555 22,866 397

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 96,842 8,269 442,155
Additions 66,861 - 69,416
Disposals (25,729 ) - (25,729 )
At 31 March 2024 137,974 8,269 485,842
DEPRECIATION
At 1 April 2023 60,488 4,817 213,531
Charge for year 13,852 1,773 20,633
Eliminated on disposal (17,626 ) - (17,626 )
At 31 March 2024 56,714 6,590 216,538
NET BOOK VALUE
At 31 March 2024 81,260 1,679 269,304
At 31 March 2023 36,354 3,452 228,624

SIMON CNC SERVICES LIMITED (REGISTERED NUMBER: 03751170)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 60,921 60,738
Other debtors 7,928 7,269
68,849 68,007

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 40,284 39,181
Taxation and social security 73,551 86,685
Other creditors 38,397 55,435
152,232 181,301

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 50,356 88,157
Other creditors 10,000 -
60,356 88,157

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 68,140 94,838

The company's bank loan was secured by way of fixed and floating charges over the undertaking and all of its assets as well as a specific charge over Unit 1, Old Brickworks Lane, Sheffield Road, Chesterfield.

The balance of the bank loan outstanding as at 31 March 2024 amounted to £68,140 and it is held on the following terms:

The loan bears interest at 2.70% above the Bank of England base rate and is repayable in variable monthly instalments of capital and interest of approximately £2,500 and is repayable by June 2026.

10. CALLED UP SHARE CAPITAL

The share capital of £100 (2023: £100) has been allotted, called up and fully paid.