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REGISTERED NUMBER: 03565560 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2023

FOR

SIMON BOYD LIMITED

SIMON BOYD LIMITED (REGISTERED NUMBER: 03565560)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SIMON BOYD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2023







DIRECTORS: P C Grimes
M J Grimes



SECRETARY: M J Grimes



REGISTERED OFFICE: 25, Grosvenor Road
Wrexham
LL11 1BT



REGISTERED NUMBER: 03565560 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
Chartered Accountants
25, Grosvenor Road
Wrexham
LL11 1BT



BANKERS: National Westminster Bank plc
33, Lord Street
Wrexham
LL11 1LP

SIMON BOYD LIMITED (REGISTERED NUMBER: 03565560)

BALANCE SHEET
30TH SEPTEMBER 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 133,333 183,333
Tangible assets 5 119,796 116,965
253,129 300,298

CURRENT ASSETS
Stocks 6 338,000 380,000
Debtors 7 107,532 60,116
Cash at bank and in hand 646,483 882,408
1,092,015 1,322,524
CREDITORS
Amounts falling due within one year 8 416,898 500,293
NET CURRENT ASSETS 675,117 822,231
TOTAL ASSETS LESS CURRENT
LIABILITIES

928,246

1,122,529

CREDITORS
Amounts falling due after more than one
year

9

(127,810

)

(175,701

)

PROVISIONS FOR LIABILITIES 12 (16,260 ) (18,818 )
NET ASSETS 784,176 928,010

CAPITAL AND RESERVES
Called up share capital 13 2 2
Retained earnings 784,174 928,008
SHAREHOLDERS' FUNDS 784,176 928,010

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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.

SIMON BOYD LIMITED (REGISTERED NUMBER: 03565560)

BALANCE SHEET - continued
30TH SEPTEMBER 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 19th July 2024 and were signed on its behalf by:





P C Grimes - Director


SIMON BOYD LIMITED (REGISTERED NUMBER: 03565560)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2023

1. STATUTORY INFORMATION

Simon Boyd 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.

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 2006, is being amortised evenly over its estimated useful life of twenty 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold improvements - The length of the lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


SIMON BOYD LIMITED (REGISTERED NUMBER: 03565560)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 43 (2022 - 45 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st October 2022
and 30th September 2023 1,000,000
AMORTISATION
At 1st October 2022 816,667
Amortisation for year 50,000
At 30th September 2023 866,667
NET BOOK VALUE
At 30th September 2023 133,333
At 30th September 2022 183,333

SIMON BOYD LIMITED (REGISTERED NUMBER: 03565560)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
improvements machinery fittings
£    £    £   
COST
At 1st October 2022 364,797 87,677 285,454
Additions - 2,465 1,615
Disposals - - -
At 30th September 2023 364,797 90,142 287,069
DEPRECIATION
At 1st October 2022 364,777 79,854 274,663
Charge for year - 2,329 3,040
Eliminated on disposal - - -
At 30th September 2023 364,777 82,183 277,703
NET BOOK VALUE
At 30th September 2023 20 7,959 9,366
At 30th September 2022 20 7,823 10,791

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1st October 2022 183,753 20,803 942,484
Additions 47,910 2,380 54,370
Disposals (45,614 ) - (45,614 )
At 30th September 2023 186,049 23,183 951,240
DEPRECIATION
At 1st October 2022 87,882 18,343 825,519
Charge for year 30,632 747 36,748
Eliminated on disposal (30,823 ) - (30,823 )
At 30th September 2023 87,691 19,090 831,444
NET BOOK VALUE
At 30th September 2023 98,358 4,093 119,796
At 30th September 2022 95,871 2,460 116,965

SIMON BOYD LIMITED (REGISTERED NUMBER: 03565560)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st October 2022 16,812
Additions 29,730
At 30th September 2023 46,542
DEPRECIATION
At 1st October 2022 7,093
Charge for year 8,624
At 30th September 2023 15,717
NET BOOK VALUE
At 30th September 2023 30,825
At 30th September 2022 9,719

6. STOCKS
30.9.23 30.9.22
£    £   
Goods for resale 338,000 380,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Prepayments and accrued income 107,532 60,116

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 52,876 54,567
Hire purchase contracts (see note 10) 2,875 6,087
Trade creditors 230,399 301,571
Tax - 759
Social security and other taxes 79,193 100,510
Other creditors 50,844 35,908
Directors' current accounts 711 891
416,898 500,293

SIMON BOYD LIMITED (REGISTERED NUMBER: 03565560)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans - 1-2 years 54,253 55,115
Bank loans - 2-5 years 67,692 115,600
Bank loans - more than 5 years - 4,461
Hire purchase contracts (see note 10) 5,865 525
127,810 175,701

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - more than 5 years - 4,461

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.23 30.9.22
£    £   
Net obligations repayable:
Within one year 2,875 6,087
Between one and five years 5,865 525
8,740 6,612

Non-cancellable operating leases
30.9.23 30.9.22
£    £   
Within one year 134,500 134,500
Between one and five years 126,000 168,000
260,500 302,500

11. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Bank loans 174,821 229,743

12. PROVISIONS FOR LIABILITIES
30.9.23 30.9.22
£    £   
Deferred tax
Accelerated capital allowances 16,260 18,818

SIMON BOYD LIMITED (REGISTERED NUMBER: 03565560)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2023

12. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st October 2022 18,818
Movement in year due to: -
changes in tax rates
changes in tax allowances (2,558 )
underprovision prior year
Balance at 30th September 2023 16,260

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
2 Ordinary £1.00 2 2

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th September 2023 and 30th September 2022:

30.9.23 30.9.22
£    £   
P C Grimes and M J Grimes
Balance outstanding at start of year (891 ) (1,926 )
Amounts advanced 202,123 103,035
Amounts repaid (201,943 ) (102,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (711 ) (891 )

15. RELATED PARTY DISCLOSURES

P Grimes and M Grimes have a controlling interest in the company.

The company trades from property owned by P Grimes and M Grimes, both directors of the company. Rent charged to the company in the period amounted to £185,000 (2022: £185,000).

Interest was charged at the official rate on the overdrawn Directors' Current Account of £980 (2022: £725). The maximum amount overdrawn was £96,752 (2022: £101,109).