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REGISTERED NUMBER: 08886739 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SIMPSON JOINERY (MIDHURST) LTD

SIMPSON JOINERY (MIDHURST) LTD (REGISTERED NUMBER: 08886739)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SIMPSON JOINERY (MIDHURST) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 March 2024







DIRECTOR: P Simpson





REGISTERED OFFICE: Newtown House
38 Newtown Road
Liphook
Hampshire
GU30 7DX





REGISTERED NUMBER: 08886739 (England and Wales)





ACCOUNTANTS: Traviss & Co Ltd
Chartered Certified Accountants
Newtown House
38 Newtown Road
Liphook
Hampshire
GU30 7DX

SIMPSON JOINERY (MIDHURST) LTD (REGISTERED NUMBER: 08886739)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 3,500
Tangible assets 5 25,243 27,319
25,243 30,819

CURRENT ASSETS
Stocks 11,553 11,349
Debtors 6 243,137 216,955
Cash at bank and in hand 61,195 106,987
315,885 335,291
CREDITORS
Amounts falling due within one year 7 64,768 89,961
NET CURRENT ASSETS 251,117 245,330
TOTAL ASSETS LESS CURRENT
LIABILITIES

276,360

276,149

CREDITORS
Amounts falling due after more than one
year

8

(20,000

)

(30,000

)

PROVISIONS FOR LIABILITIES (5,432 ) (5,191 )
NET ASSETS 250,928 240,958

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 250,828 240,858
SHAREHOLDERS' FUNDS 250,928 240,958

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SIMPSON JOINERY (MIDHURST) LTD (REGISTERED NUMBER: 08886739)

BALANCE SHEET - continued
31 March 2024


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 6 November 2024 and were signed by:





P Simpson - Director


SIMPSON JOINERY (MIDHURST) LTD (REGISTERED NUMBER: 08886739)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2024


1. STATUTORY INFORMATION

Simpson Joinery (Midhurst) Ltd 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 represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer 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 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.


SIMPSON JOINERY (MIDHURST) LTD (REGISTERED NUMBER: 08886739)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 March 2024


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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 35,000
AMORTISATION
At 1 April 2023 31,500
Charge for year 3,500
At 31 March 2024 35,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 3,500

SIMPSON JOINERY (MIDHURST) LTD (REGISTERED NUMBER: 08886739)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 March 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 52,351 804 864 2,671 56,690
Additions 2,139 - - 4,202 6,341
At 31 March 2024 54,490 804 864 6,873 63,031
DEPRECIATION
At 1 April 2023 25,907 623 799 2,042 29,371
Charge for year 7,146 46 17 1,208 8,417
At 31 March 2024 33,053 669 816 3,250 37,788
NET BOOK VALUE
At 31 March 2024 21,437 135 48 3,623 25,243
At 31 March 2023 26,444 181 65 629 27,319

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 60,151 24,560
Amounts owed by group undertakings 182,173 191,715
Other debtors 813 680
243,137 216,955

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 14,843 17,206
Taxation and social security 33,668 27,846
Other creditors 6,257 34,909
64,768 89,961

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 20,000 30,000

SIMPSON JOINERY (MIDHURST) LTD (REGISTERED NUMBER: 08886739)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 March 2024


9. RELATED PARTY DISCLOSURES

The company has b/fwd loans to Simpson Commercial Developments Ltd totalling £191,715. P Simpson is the director and person with personal significant control in Simpson Commercial Developments Ltd. Rent of £12,000 has been charged to Simpson Joinery (Midhurst) Ltd in the year. The balance outstanding at the year end is £182,173.