Ed Simmons PIC Limited 11575275 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is farming activities. Digita Accounts Production Advanced 6.30.9574.0 true 11575275 2023-01-01 2023-12-31 11575275 2023-12-31 11575275 core:RetainedEarningsAccumulatedLosses 2023-12-31 11575275 core:ShareCapital 2023-12-31 11575275 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11575275 bus:SmallEntities 2023-01-01 2023-12-31 11575275 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11575275 bus:FullAccounts 2023-01-01 2023-12-31 11575275 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11575275 bus:RegisteredOffice 2023-01-01 2023-12-31 11575275 bus:Director1 2023-01-01 2023-12-31 11575275 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11575275 core:FurnitureFittings 2023-01-01 2023-12-31 11575275 core:LandBuildings 2023-01-01 2023-12-31 11575275 core:OfficeEquipment 2023-01-01 2023-12-31 11575275 core:PlantMachinery 2023-01-01 2023-12-31 11575275 countries:EnglandWales 2023-01-01 2023-12-31 11575275 2022-12-31 11575275 2022-01-01 2022-12-31 11575275 2022-12-31 11575275 core:RetainedEarningsAccumulatedLosses 2022-12-31 11575275 core:ShareCapital 2022-12-31 11575275 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 11575275

Ed Simmons PIC Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

Ed Simmons PIC Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

Ed Simmons PIC Limited

(Registration number: 11575275)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

34,714

20,125

Investment property

4.1

230,554

230,554

Other financial assets

5

8,172

8,172

 

273,440

258,851

Current assets

 

Stocks

20,900

27,050

Debtors

362,044

299,552

Cash at bank and in hand

 

88,872

127,039

 

471,816

453,641

Creditors: Amounts falling due within one year

(1,470)

(9,447)

Net current assets

 

470,346

444,194

Net assets

 

743,786

703,045

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

743,686

702,945

Total equity

 

743,786

703,045

 

Ed Simmons PIC Limited

(Registration number: 11575275)
Abridged Balance Sheet as at 31 December 2023

For the financial 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 of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 24 September 2024
 

Mr E Simmons

Director

 

Ed Simmons PIC Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Calyx House
South Road
Taunton
Somerset
TA1 3DU

The principal place of business is:
The Dairy House
Yew Tree Lane
Kingston Seymour
Clevedon, Somerset
BS21 6XG

These financial statements were authorised for issue by the director on 24 September 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Ed Simmons PIC Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023


Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Office equipment

15% reducing balance

Fixtures and fittings

15% reducing balance

Land and buildings

0%

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Biological assets

Biological assets, living plants and animals are included at the lower of cost and estimated selling price less costs to sell.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Ed Simmons PIC Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Total
£

Cost or valuation

At 1 January 2023

37,790

Additions

30,799

Disposals

(15,000)

At 31 December 2023

53,589

Depreciation

At 1 January 2023

17,665

Charge for the year

8,530

Eliminated on disposal

(7,320)

At 31 December 2023

18,875

Carrying amount

At 31 December 2023

34,714

At 31 December 2022

20,125

4.1 Investment properties

2023
£

At 1 January

230,554

At 31 December

230,554

There has been no valuation of investment property by an independent valuer.

5

Other financial assets (current and non-current)

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2023

8,172

At 31 December 2023

8,172

Carrying amount

At 31 December 2023

8,172

 

Ed Simmons PIC Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

6

Related party transactions

Advances to directors

Mr E Simmons

During the period Mr E Simmons went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £42,409 (2022 - £Nil). At the year end the amount outstanding from Mr E Simmons was £42,409 (2022 - £Nil). Interest has been charged at the commercial rate.