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REGISTERED NUMBER: 07337462 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

SIMPLY LOGISTICS LIMITED

SIMPLY LOGISTICS LIMITED (REGISTERED NUMBER: 07337462)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SIMPLY LOGISTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 August 2023







DIRECTOR: D R Humphreys





REGISTERED OFFICE: 12 Gateway Mews
Ring Way
London
N11 2UT





REGISTERED NUMBER: 07337462 (England and Wales)





ACCOUNTANTS: G. George Associates Limited
Chartered Certified Accountants
12 Gateway Mews
Ring Way
London
N11 2UT

SIMPLY LOGISTICS LIMITED (REGISTERED NUMBER: 07337462)

BALANCE SHEET
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 499 1,998,704
Investments 5 207,800 207,800
Investment property 6 3,998,039 2,000,000
4,206,338 4,206,504

CURRENT ASSETS
Debtors 7 1,436,771 1,593,284
Cash at bank 26,098 23,270
1,462,869 1,616,554
CREDITORS
Amounts falling due within one year 8 185,096 589,489
NET CURRENT ASSETS 1,277,773 1,027,065
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,484,111

5,233,569

CREDITORS
Amounts falling due after more than one
year

9

(32,214

)

(283,600

)

PROVISIONS FOR LIABILITIES (316,180 ) (316,180 )
NET ASSETS 5,135,717 4,633,789

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 11 1,027,513 1,027,513
Retained earnings 4,108,104 3,606,176
SHAREHOLDERS' FUNDS 5,135,717 4,633,789

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SIMPLY LOGISTICS LIMITED (REGISTERED NUMBER: 07337462)

BALANCE SHEET - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 September 2024 and were signed by:





D R Humphreys - Director


SIMPLY LOGISTICS LIMITED (REGISTERED NUMBER: 07337462)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 August 2023

1. STATUTORY INFORMATION

Simply Logistics 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Simply Logistics Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents net invoiced rent receivable, excluding value added tax.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred taxation is provided on such surplus or deficit at the rate expected to apply when the property is sold.

The fair value profits on investment property is not a realised profit available for distribution. In order to differentiate the non-distributable profits with the distributable profits of the company, any fair value movements on investment property less the deferred tax on such movements is transferred from retained earnings to fair value reserves, which is a non-distributable reserve.

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.


SIMPLY LOGISTICS LIMITED (REGISTERED NUMBER: 07337462)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 September 2022 2,054,624 1,937 1,795 2,058,356
Reclassification/transfer (2,054,624 ) - - (2,054,624 )
At 31 August 2023 - 1,937 1,795 3,732
DEPRECIATION
At 1 September 2022 56,585 1,592 1,475 59,652
Charge for year - 86 80 166
Reclassification/transfer (56,585 ) - - (56,585 )
At 31 August 2023 - 1,678 1,555 3,233
NET BOOK VALUE
At 31 August 2023 - 259 240 499
At 31 August 2022 1,998,039 345 320 1,998,704

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2022
and 31 August 2023 207,800
NET BOOK VALUE
At 31 August 2023 207,800
At 31 August 2022 207,800

SIMPLY LOGISTICS LIMITED (REGISTERED NUMBER: 07337462)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 2,000,000
Reclassification/transfer 1,998,039
At 31 August 2023 3,998,039
NET BOOK VALUE
At 31 August 2023 3,998,039
At 31 August 2022 2,000,000

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2013 277,391
Valuation in 2016 316,303
Valuation in 2017 250,000
Valuation in 2022 500,000
Cost 2,654,345
3,998,039

If investment property had not been revalued it would have been included at the following historical cost:

31.8.23 31.8.22
£    £   
Cost 2,654,345 656,306

Investment property was valued on an open market basis on 31 August 2023 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 5,408 1,990
Other debtors 1,431,363 1,591,294
1,436,771 1,593,284

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 13,257 11,273
Taxation and social security 42,776 109,677
Other creditors 129,063 468,539
185,096 589,489

SIMPLY LOGISTICS LIMITED (REGISTERED NUMBER: 07337462)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans 32,214 37,500
Other creditors - 246,100
32,214 283,600

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank loans 32,214 37,500

11. RESERVES
Fair
value
reserve
£   
At 1 September 2022
and 31 August 2023 1,027,513