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REGISTERED NUMBER: 05659119 (England and Wales)















Simba Materials Limited

Unaudited Financial Statements For The Year Ended 31 December 2023






Simba Materials Limited (Registered number: 05659119)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Simba Materials Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: W Simpson
G S Simpson
Ms A Bailey





SECRETARY: G S Simpson





REGISTERED OFFICE: Unit 8
Broomhouse Lane Industrial Estate
Edlington
Doncaster
South Yorkshire
DN12 1EQ





REGISTERED NUMBER: 05659119 (England and Wales)





ACCOUNTANTS: Kingswood Allotts Limited
Chartered Accountants
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

Simba Materials Limited (Registered number: 05659119)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 23,800 32,910
23,800 32,910

CURRENT ASSETS
Stocks 6 618,054 634,414
Debtors 7 118,580 87,363
Cash at bank and in hand 88,743 41,327
825,377 763,104
CREDITORS
Amounts falling due within one year 8 207,548 197,648
NET CURRENT ASSETS 617,829 565,456
TOTAL ASSETS LESS CURRENT LIABILITIES 641,629 598,366

PROVISIONS FOR LIABILITIES 4,081 5,811
NET ASSETS 637,548 592,555

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 637,448 592,455
SHAREHOLDERS' FUNDS 637,548 592,555

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 27 August 2024 and were signed on its behalf by:




W Simpson - Director


Simba Materials Limited (Registered number: 05659119)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Simba Materials 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2006 and 2008, has been amortised evenly over its useful live of seven and five years respectively.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property improvements - 25% on cost
Plant & machinery - 25% on cost and 20% on reducing balance
Fixtures & fittings - 20% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 25% on cost

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

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 13 ) .

Simba Materials Limited (Registered number: 05659119)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 89,225
AMORTISATION
At 1 January 2023
and 31 December 2023 89,225
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Leasehold
property Plant & Fixtures
improvements machinery & fittings
£    £    £   
COST
At 1 January 2023 9,334 61,235 5,363
Additions - 3,453 -
At 31 December 2023 9,334 64,688 5,363
DEPRECIATION
At 1 January 2023 6,999 37,646 3,494
Charge for year 2,335 6,629 374
At 31 December 2023 9,334 44,275 3,868
NET BOOK VALUE
At 31 December 2023 - 20,413 1,495
At 31 December 2022 2,335 23,589 1,869

Simba Materials Limited (Registered number: 05659119)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 14,267 2,691 92,890
Additions - - 3,453
At 31 December 2023 14,267 2,691 96,343
DEPRECIATION
At 1 January 2023 9,712 2,129 59,980
Charge for year 2,877 348 12,563
At 31 December 2023 12,589 2,477 72,543
NET BOOK VALUE
At 31 December 2023 1,678 214 23,800
At 31 December 2022 4,555 562 32,910

6. STOCKS
2023 2022
£    £   
Goods for resale 618,054 634,414

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 105,260 74,896
Other debtors 13,320 12,467
118,580 87,363

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 88,223 106,063
Taxation and social security 77,374 40,653
Other creditors 41,951 50,932
207,548 197,648

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

Simba Materials Limited (Registered number: 05659119)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

10. OTHER FINANCIAL COMMITMENTS

At the year end, the company had total commitments under a non cancellable operating lease in respect of property it occupies totalling £29,716 (2022: £62,133).

11. RELATED PARTY DISCLOSURES

Included in other creditors is £14,611 owed to two of the directors (2022: £18,656). The loans are interest free without any formal repayment terms.