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Company Registration No. 07505446 (England and Wales)
Simvic Limited Unaudited accounts for the year ended 31 December 2023
Simvic Limited Unaudited accounts Contents
Page
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Simvic Limited Company Information for the year ended 31 December 2023
Directors
R Arasniewicz D Arasniewicz
Company Number
07505446 (England and Wales)
Registered Office
Unit 4 Ford Road Forwater Trading Estate Chertsey KT16 8HG
Accountants
Helrik and Louw 72 Great Suffolk Street London SE1 0BL
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Simvic Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
30,138 
43,518 
Current assets
Inventories
38,854 
44,526 
Debtors
1,347,719 
1,457,348 
Cash at bank and in hand
1,409,973 
1,475,134 
2,796,546 
2,977,008 
Creditors: amounts falling due within one year
(1,014,774)
(1,525,344)
Net current assets
1,781,772 
1,451,664 
Total assets less current liabilities
1,811,910 
1,495,182 
Creditors: amounts falling due after more than one year
(22,065)
(38,776)
Provisions for liabilities
Other provisions
(100,000)
(100,000)
Net assets
1,689,845 
1,356,406 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,689,745 
1,356,306 
Shareholders' funds
1,689,845 
1,356,406 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by
D Arasniewicz Director Company Registration No. 07505446
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Simvic Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Simvic Limited is a private company, limited by shares, registered in England and Wales, registration number 07505446. The registered office is Unit 4 Ford Road, Forwater Trading Estate, Chertsey, KT16 8HG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight line
Motor vehicles
25% Straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Simvic Limited Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
207,352 
246,494 
453,846 
At 31 December 2023
207,352 
246,494 
453,846 
Depreciation
At 1 January 2023
197,352 
212,976 
410,328 
Charge for the year
5,000 
8,380 
13,380 
At 31 December 2023
202,352 
221,356 
423,708 
Net book value
At 31 December 2023
5,000 
25,138 
30,138 
At 31 December 2022
10,000 
33,518 
43,518 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
268,949 
388,223 
Accrued income and prepayments
10,270 
625 
Other debtors
1,068,500 
1,068,500 
1,347,719 
1,457,348 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
9,948 
9,648 
VAT
294,255 
273,771 
Trade creditors
150,507 
721,686 
Taxes and social security
126,595 
102,040 
Other creditors
13,177 
181,048 
Loans from directors
420,292 
237,151 
1,014,774 
1,525,344 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
15,002 
25,192 
Obligations under finance leases and hire purchase contracts
7,063 
13,584 
22,065 
38,776 
8
Average number of employees
During the year the average number of employees was 9 (2022: 11).
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