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Registered number: 01297168
Simer Environmental Services Limited
Financial Statements
For The Year Ended 31 March 2024
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01297168
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 78,485 32,329
78,485 32,329
CURRENT ASSETS
Stocks 5 13,100 22,136
Debtors 6 540,380 475,015
Cash at bank and in hand 712,870 613,784
1,266,350 1,110,935
Creditors: Amounts Falling Due Within One Year 7 (302,596 ) (217,549 )
NET CURRENT ASSETS (LIABILITIES) 963,754 893,386
TOTAL ASSETS LESS CURRENT LIABILITIES 1,042,239 925,715
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (17,335 ) (6,697 )
NET ASSETS 1,024,904 919,018
CAPITAL AND RESERVES
Called up share capital 9 20,000 20,000
Profit and Loss Account 1,004,904 899,018
SHAREHOLDERS' FUNDS 1,024,904 919,018
Page 1
Page 2
For the year ending 31 March 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr I J Coomber
Director
Mrs M L Wood
Director
21/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Simer Environmental Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01297168 . The registered office is 81 High Street, Cosham, Hampshire, PO6 3BL.  The principal activity of the company during the year was that of providing refrigeration and air-conditioning supply and maintenance.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The accounts have been prepared under the historical cost convention and are in accordance with FRS102 including section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 as applicable to the small company regime. The disclosure requirements of Section 1A of FRS have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in pounds sterling, the functional currency of the company. Monetary amounts in the financial statements are rounded to the nearest £.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Straight line 6%
Motor Vehicles Straight line 25%
Fixtures & Fittings Straight line 15%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The company also operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.  
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 14)
15 14
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 - 241,005 180,236 421,241
Additions 9,198 60,150 6,069 75,417
Disposals - (15,425 ) - (15,425 )
As at 31 March 2024 9,198 285,730 186,305 481,233
Depreciation
As at 1 April 2023 - 235,297 153,615 388,912
Provided during the period 552 20,746 7,963 29,261
Disposals - (15,425 ) - (15,425 )
As at 31 March 2024 552 240,618 161,578 402,748
Net Book Value
As at 31 March 2024 8,646 45,112 24,727 78,485
As at 1 April 2023 - 5,708 26,621 32,329
5. Stocks
2024 2023
£ £
Work in progress 13,100 22,136
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 491,770 341,913
Prepayments and accrued income 47,939 44,303
Factoring 671 88,799
540,380 475,015
Amounts recoverable on long term contracts and contracts for on-going services, which are included in debtors, are stated at the net sales value of work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress on account payments are included in creditors as payments received on account.
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 142,218 124,688
Corporation tax 20,920 12,432
Other taxes and social security 52,028 19,143
VAT 52,573 23,341
Credit card 4,320 1,839
Pension control 2,363 6,646
Accruals and deferred income 6,174 7,409
Directors' loan accounts 22,000 22,051
302,596 217,549
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 17,335 6,697
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 20,000 20,000
10. Ultimate Controlling Party
The company is ultimately controlled by Mr I Coomber and Mrs M Wood. Both directors are deemed as People with Significant Control as they both hold more than 25% but not more than 50% of the voting rights and shareholding in the company.
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