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Logo On Report
Registered Number: 06940689
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 December 2023

for

SIMPSONS (EAST ANGLIA) LIMITED

Directors Robert Simpson
Samantha Simpson
Paul Simpson
Registered Number 06940689
Registered Office Church Barn
Orford Road, Bromeswell
Woodbridge
IP12 2PP
Accountants Quove Accounting Ltd
3 Brickfields Business Park
Old Stowmarket Road, Woolpit
Bury St Edmunds
IP30 9QS
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 December 2023.
Principal activities
The principal activity of the company during the financial year was of operating a Drain Doctor franchise.
Directors
The directors who served the company throughout the year were as follows:
Robert Simpson
Samantha Simpson
Paul Simpson
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the companys transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Paul Simpson
Director

Date approved: 28 May 2024
2
Chartered Accountants' Report to the board of directors on the preparation of the unaudited statutory accounts of Simpsons (East Anglia) Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Simpsons (East Anglia) Limited for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of Simpsons (East Anglia) Limited , as a body, in accordance with the terms of our engagement letter dated 28 May 2024. Our work has been undertaken solely to prepare for your approval the accounts of Simpsons (East Anglia) Limited and state those matters that we have agreed to state to the Board of Directors of Simpsons (East Anglia) Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Simpsons (East Anglia) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Simpsons (East Anglia) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Simpsons (East Anglia) Limited . You consider that Simpsons (East Anglia) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Simpsons (East Anglia) Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts



....................................................
Quove Accounting Ltd
3 Brickfields Business Park
Old Stowmarket Road, Woolpit
Bury St Edmunds
IP30 9QS
28 May 2024
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 16,200    18,225 
Tangible fixed assets 4 504,378    404,354 
520,578    422,579 
Current assets      
Debtors 5 177,891    219,890 
Cash at bank and in hand 121,924    142,183 
299,815    362,073 
Creditors: amount falling due within one year 6 (468,266)   (460,637)
Net current assets (168,451)   (98,564)
 
Total assets less current liabilities 352,127    324,015 
Creditors: amount falling due after more than one year 7 (186,441)   (141,054)
Provisions for liabilities 8 (74,612)   (76,162)
Net assets 91,074    106,799 
 

Capital and reserves
     
Called up share capital 9 3    3 
Profit and loss account 91,071    106,796 
Shareholders' funds 91,074    106,799 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 28 May 2024 and were signed on its behalf by:


-------------------------------
Paul Simpson
Director
4
General Information
Simpsons (East Anglia) Limited is a private company, limited by shares, registered in England and Wales, registration number 06940689, registration address Church Barn, Orford Road, Bromeswell, Woodbridge, IP12 2PP

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 3 Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 28 (2022 : 23).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 January 2023 369,462    369,462 
Additions  
Disposals  
At 31 December 2023 369,462    369,462 
Amortisation
At 01 January 2023 351,237    351,237 
Charge for year 2,025    2,025 
On disposals  
At 31 December 2023 353,262    353,262 
Net book values
At 31 December 2023 16,200    16,200 
At 31 December 2022 18,225    18,225 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 January 2023 1,304,572    1,304,572 
Additions 355,968    355,968 
Disposals  
At 31 December 2023 1,660,540    1,660,540 
Depreciation
At 01 January 2023 900,218    900,218 
Charge for year 255,944    255,944 
On disposals  
At 31 December 2023 1,156,162    1,156,162 
Net book values
Closing balance as at 31 December 2023 504,378    504,378 
Opening balance as at 01 January 2023 404,354    404,354 

The net book value of Plant and Machinery includes £ 340,069 (2022 £224,569) in respect of assets leased under finance leases or hire purchase contracts.

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 164,391    213,890 
Prepayments & Accrued Income 2,500    2,500 
Other Debtors 11,000    3,500 
177,891    219,890 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 147,465    109,302 
Corporation Tax 32,896    32,896 
PAYE & Social Security 18,245    50,839 
Accrued Expenses 2,500    2,500 
Other Creditors   64,527 
Obligations under HP/Financial Leases 192,077    110,544 
VAT 75,083    90,029 
468,266    460,637 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 10,941    22,281 
Obligations Under HP/Financial Leases 175,500    118,773 
186,441    141,054 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 74,612    76,162 
74,612    76,162 

9.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
2 Class A shares of £1.00 each  
1 Class B share of £1.00 each  
 

5