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REGISTERED NUMBER: 07747991 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SIMKAL LTD

SIMKAL LTD (REGISTERED NUMBER: 07747991)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SIMKAL LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: V Weber
K J Weber





REGISTERED OFFICE: 4 - 7 Market Hall Market Square
Lytham St Annes
Lancashire
FY8 5LW





REGISTERED NUMBER: 07747991 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

SIMKAL LTD (REGISTERED NUMBER: 07747991)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,823 3,593
Tangible assets 5 105,146 101,834
107,969 105,427

CURRENT ASSETS
Debtors 6 12,602 15,503
Cash at bank 89,517 96,388
102,119 111,891
CREDITORS
Amounts falling due within one year 7 110,510 95,682
NET CURRENT (LIABILITIES)/ASSETS (8,391 ) 16,209
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,578

121,636

CREDITORS
Amounts falling due after more than one
year

8

33,234

42,001
NET ASSETS 66,344 79,635

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 66,244 79,535
SHAREHOLDERS' FUNDS 66,344 79,635

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.

SIMKAL LTD (REGISTERED NUMBER: 07747991)

BALANCE SHEET - continued
31 December 2023


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 4 September 2024 and were signed on its behalf by:





K J Weber - Director


SIMKAL LTD (REGISTERED NUMBER: 07747991)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Simkal Ltd 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 receivable for goods sold and services provided.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 10 years
Computer equipment - 25% on cost
Motor vehicles - 25% on reducing balance
Website - 10% on cost

Financial instruments
Short term financial liabilities, including directors current accounts, are measured at the transaction price. Financial liabilities that have no stated interest rate and are payable on demand shall be measured at the undiscounted amount due.

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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

SIMKAL LTD (REGISTERED NUMBER: 07747991)

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 7,700
AMORTISATION
At 1 January 2023 4,107
Charge for year 770
At 31 December 2023 4,877
NET BOOK VALUE
At 31 December 2023 2,823
At 31 December 2022 3,593

5. TANGIBLE FIXED ASSETS
Improvements
to Computer Motor
property equipment vehicles Website Totals
£    £    £    £    £   
COST
At 1 January 2023 84,008 5,341 33,009 2,911 125,269
Additions 17,834 1,997 - - 19,831
At 31 December 2023 101,842 7,338 33,009 2,911 145,100
DEPRECIATION
At 1 January 2023 2,800 2,917 16,171 1,547 23,435
Charge for year 10,184 1,834 4,210 291 16,519
At 31 December 2023 12,984 4,751 20,381 1,838 39,954
NET BOOK VALUE
At 31 December 2023 88,858 2,587 12,628 1,073 105,146
At 31 December 2022 81,208 2,424 16,838 1,364 101,834

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 12,602 15,503

SIMKAL LTD (REGISTERED NUMBER: 07747991)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,778 4,734
Hire purchase contracts 3,946 3,595
Trade creditors 63,293 40,631
Social security and other taxes 13,038 12,380
Other creditors 5,541 5,541
Directors' current accounts 19,491 28,380
Accruals and deferred income 423 421
110,510 95,682

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 25,879 30,701
Hire purchase contracts 7,355 11,300
33,234 42,001

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 11,301 14,895

The hire purchase contracts are secured on the assets concerned.

10. OTHER FINANCIAL COMMITMENTS

The company has operating lease commitments totalling £211,250 (2022: £241,250).