Company registration number NI610511 (Northern Ireland)
SIMPLY PLANNING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
SIMPLY PLANNING LIMITED
COMPANY INFORMATION
Directors
Mr R Birtles
Mrs R M Gravett
Mr A Thornton
Mr A G Smith
Company number
NI610511
Registered office
29 Ballyknockan Road
Ballygowan
Down
BT23 6NR
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
79 Piccadilly
London
W1J 8EU
SIMPLY PLANNING LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
4 - 5
Notes to the financial statements
2 - 8
SIMPLY PLANNING LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SIMPLY PLANNING LIMITED FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Simply Planning Limited for the year ended 31 December 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Simply Planning Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Simply Planning Limited and state those matters that we have agreed to state to the board of directors of Simply Planning Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Simply Planning Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Simply Planning Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Simply Planning Limited. You consider that Simply Planning Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Simply Planning Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
10 June 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
SIMPLY PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Simply Planning Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is 29 Ballyknockan Road, Ballygowan, Down, United Kingdom, BT23 6NR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

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.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
not provided
Fixtures and fittings
25% on reducing balance
Computer equipment
25% on reducing balance
Motor vehicles
20% on reducing balance

No depreciation is provided on freehold land and buildings. This treatment may be a departure from the requirements of Companies Act 2006 concerning depreciation of fixed assets, however, the company follows a program of regular refurbishment and maintenance of its properties, which includes the reinstatement of the fabric of the buildings where necessary in order to maintain them to a high standard. Accordingly, in the opinion of the directors, any element of depreciation would be immaterial and no provision has been made, as the residual value would be in excess of cost.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

SIMPLY PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

SIMPLY PLANNING LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 4 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
63,581
73,727
Current assets
Debtors
4
309,192
320,619
Cash at bank and in hand
79,464
104,697
388,656
425,316
Creditors: amounts falling due within one year
5
(215,574)
(145,420)
Net current assets
173,082
279,896
Total assets less current liabilities
236,663
353,623
Creditors: amounts falling due after more than one year
6
(36,114)
(58,422)
Provisions for liabilities
7
(8,222)
(10,136)
Net assets
192,327
285,065
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
192,227
284,965
Total equity
192,327
285,065

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

SIMPLY PLANNING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 5 -
The financial statements were approved by the board of directors and authorised for issue on 10 June 2024 and are signed on its behalf by:
Mr R Birtles
Director
Company registration number NI610511 (Northern Ireland)
SIMPLY PLANNING LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
10
9
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2023
20,307
4,890
41,219
82,330
148,746
Additions
-
0
223
1,251
-
0
1,474
At 31 December 2023
20,307
5,113
42,470
82,330
150,220
Depreciation and impairment
At 1 January 2023
-
0
4,171
30,672
40,177
75,020
Depreciation charged in the year
-
0
236
2,952
8,431
11,619
At 31 December 2023
-
0
4,407
33,624
48,608
86,639
Carrying amount
At 31 December 2023
20,307
706
8,846
33,722
63,581
At 31 December 2022
20,307
719
10,548
42,153
73,727
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
306,535
281,896
Other debtors
2,657
38,723
309,192
320,619
SIMPLY PLANNING LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 7 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,119
9,600
Trade creditors
33,104
18,019
Taxation and social security
155,162
101,612
Other creditors
17,189
16,189
215,574
145,420
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
15,666
26,052
Other creditors
20,448
32,370
36,114
58,422
7
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
8,222
10,136
8
Secured debts
The following secured debts are included within creditors:
2023
2022
£
£
Hire purchase contracts
32,370
44,292
Bank loans
25,785
35,652
58,155
79,944
Hire purchase contracts are secured against the assets to which they relate.
Bank loans are secured by way of a government backed guarantee.
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
100
100
100
100
SIMPLY PLANNING LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 8 -
10
Ultimate controlling party

The ultimate controlling party is Mr R Birtles.

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