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REGISTERED NUMBER: 07431033 (England and Wales)
















Financial Statements for the Year Ended 31 December 2023

for

Simon Carmichael International Group
Limited

Simon Carmichael International Group
Limited (Registered number: 07431033)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Simon Carmichael International Group
Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Z J Chen





SECRETARY: Harrison Clark (Secretarial) Limited





REGISTERED OFFICE: 5 Deansway
Worcester
Worcestershire
WR1 2JG





REGISTERED NUMBER: 07431033 (England and Wales)





AUDITORS: Grenfell James Audit LLP
13 The Courtyard Timothys Bridge Road,
Stratford
CV37 9NP

Simon Carmichael International Group
Limited (Registered number: 07431033)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
CURRENT ASSETS
Stocks 1,606 3,213
Debtors 4 3,084,250 3,071,846
Cash at bank and in hand 11,346 295
3,097,202 3,075,354
CREDITORS
Amounts falling due within one year 5 (613,016 ) (580,980 )
NET CURRENT ASSETS 2,484,186 2,494,374
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,484,186

2,494,374

CAPITAL AND RESERVES
Called up share capital 2,715,000 2,715,000
Retained earnings (230,814 ) (220,626 )
2,484,186 2,494,374

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 27 September 2024 and were signed by:





Z J Chen - Director


Simon Carmichael International Group
Limited (Registered number: 07431033)

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

1. STATUTORY INFORMATION

Simon Carmichael International Group 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 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.

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.

Hire purchase and leasing commitments
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.

Going concern
The financial statements have been prepared on a going concern basis despite the Company making a loss before tax this year of £10,188 which the directors consider to be appropriate due to the parent Company confirming that sufficient financial support will be provided to enable the Company to continue its operations for a period of not less than 12 months from the date the balance sheet is signed.

Simon Carmichael International Group
Limited (Registered number: 07431033)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings 3,064,888 3,052,673
Other debtors 19,362 19,173
3,084,250 3,071,846

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 240 392
Amounts owed to group undertakings 599,555 571,483
Taxation and social security 2,287 -
Other creditors 10,934 9,105
613,016 580,980

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. With regard to the £3,064,888 amounts owed to group undertakings included within current assets, we were unable to obtain sufficient appropriate audit evidence due to not being provided with financial information in relation to these related parties. We cannot offer any opinion on the recoverability of these balances and have therefore qualified the audit report due to a limitation of scope.

Edward Grenfell Davy James (Senior Statutory Auditor)
for and on behalf of Grenfell James Audit LLP

7. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dongguan Yongqiang Vehicles Manufacturing Company Ltd, a company incorporated in China.