IRIS Accounts Production v24.1.0.578 11439172 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh114391722022-12-31114391722023-12-31114391722023-01-012023-12-31114391722021-12-31114391722022-01-012022-12-31114391722022-12-3111439172ns15:EnglandWales2023-01-012023-12-3111439172ns14:PoundSterling2023-01-012023-12-3111439172ns10:Director12023-01-012023-12-3111439172ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3111439172ns10:SmallEntities2023-01-012023-12-3111439172ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3111439172ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3111439172ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3111439172ns10:FullAccounts2023-01-012023-12-311143917212023-01-012023-12-3111439172ns10:EntityHasNeverTraded2023-01-012023-12-3111439172ns10:Director22023-01-012023-12-3111439172ns10:Director32023-01-012023-12-3111439172ns10:RegisteredOffice2023-01-012023-12-3111439172ns5:CurrentFinancialInstruments2023-12-3111439172ns5:CurrentFinancialInstruments2022-12-3111439172ns5:Non-currentFinancialInstruments2023-12-3111439172ns5:Non-currentFinancialInstruments2022-12-3111439172ns5:ShareCapital2023-12-3111439172ns5:ShareCapital2022-12-3111439172ns5:RetainedEarningsAccumulatedLosses2023-12-3111439172ns5:RetainedEarningsAccumulatedLosses2022-12-3111439172ns5:NetGoodwill2023-01-012023-12-3111439172ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3111439172ns5:PlantMachinery2023-01-012023-12-3111439172ns5:NetGoodwill2022-12-3111439172ns5:NetGoodwill2023-12-3111439172ns5:NetGoodwill2022-12-3111439172ns5:PlantMachinery2022-12-3111439172ns5:PlantMachinery2023-12-3111439172ns5:PlantMachinery2022-12-3111439172ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3111439172ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3111439172ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3111439172ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3111439172ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-12-3111439172ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2022-12-3111439172ns5:HirePurchaseContracts2023-12-3111439172ns5:HirePurchaseContracts2022-12-31
REGISTERED NUMBER: 11439172 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

SIMPSON WEST LETTINGS LTD

SIMPSON WEST LETTINGS LTD (REGISTERED NUMBER: 11439172)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SIMPSON WEST LETTINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: JB Barrett
AJ Simpson
C F West





REGISTERED OFFICE: 64 Corporation Street
Corby
Northamptonshire
NN17 1NH





REGISTERED NUMBER: 11439172 (England and Wales)





ACCOUNTANTS: Bewers Turner & Co LLP
Chartered Accountants
Portland House
11-13 Station Road
Kettering
Northamptonshire
NN15 7HH

SIMPSON WEST LETTINGS LTD (REGISTERED NUMBER: 11439172)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 364,917 440,417
Tangible assets 5 7,766 14,732
372,683 455,149

CURRENT ASSETS
Debtors 6 140,536 55,517
Cash at bank and in hand 147,715 128,593
288,251 184,110
CREDITORS
Amounts falling due within one year 7 210,022 224,696
NET CURRENT ASSETS/(LIABILITIES) 78,229 (40,586 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

450,912

414,563

CREDITORS
Amounts falling due after more than one
year

8

310,100

313,794
NET ASSETS 140,812 100,769

CAPITAL AND RESERVES
Called up share capital 99 99
Retained earnings 140,713 100,670
140,812 100,769

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

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

SIMPSON WEST LETTINGS LTD (REGISTERED NUMBER: 11439172)

BALANCE SHEET - continued
31ST 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 3rd July 2024 and were signed on its behalf by:





C F West - Director


SIMPSON WEST LETTINGS LTD (REGISTERED NUMBER: 11439172)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

Simpson West Lettings 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.

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


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 a business in 2018, 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 each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

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.

SIMPSON WEST LETTINGS LTD (REGISTERED NUMBER: 11439172)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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.

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 7 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 755,000
AMORTISATION
At 1st January 2023 314,583
Charge for year 75,500
At 31st December 2023 390,083
NET BOOK VALUE
At 31st December 2023 364,917
At 31st December 2022 440,417

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2023 30,929
Additions 387
At 31st December 2023 31,316
DEPRECIATION
At 1st January 2023 16,197
Charge for year 7,353
At 31st December 2023 23,550
NET BOOK VALUE
At 31st December 2023 7,766
At 31st December 2022 14,732

SIMPSON WEST LETTINGS LTD (REGISTERED NUMBER: 11439172)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 140,536 55,517

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 3,694 3,540
Trade creditors 12,029 11,604
Taxation and social security 55,762 41,130
Other creditors 138,537 168,422
210,022 224,696

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 10,100 13,794
Other creditors 300,000 300,000
310,100 313,794

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 3,694 3,540
Between one and five years 10,100 13,794
13,794 17,334

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 13,794 17,334

The balance owed on hire purchase contracts is secured against the asset that has been financed. The net book value of the asset pledged as security is £6,975