Company registration number 02014663 (England and Wales)
W & J SIMONS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
W & J SIMONS LIMITED
COMPANY INFORMATION
Director
J C Bell
Company number
02014663
Registered office
Manor Farm House
32 Main Street
Muston
Nottingham
Leicestershire
NG13 0FB
Auditor
Taylor Dawson Plumb Limited
22 Regent Street
Nottingham
NG1 5BQ
W & J SIMONS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
W & J SIMONS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
351
1,151
Investment property
4
8,424,669
8,382,769
Investments
5
99,299
99,128
8,524,319
8,483,048
Current assets
Debtors
7
44,853
44,671
Cash at bank and in hand
126,085
164,770
170,938
209,441
Creditors: amounts falling due within one year
8
(220,074)
(267,303)
Net current liabilities
(49,136)
(57,862)
Total assets less current liabilities
8,475,183
8,425,186
Creditors: amounts falling due after more than one year
9
(136,118)
(142,051)
Provisions for liabilities
(1,312,036)
(1,301,761)
Net assets
7,027,029
6,981,374
Capital and reserves
Called up share capital
10
503,562
503,562
Share premium account
118,283
118,283
Revaluation reserve
5,123,779
5,092,183
Capital redemption reserve
37,163
37,163
Profit and loss reserves
1,244,242
1,230,183
Total equity
7,027,029
6,981,374

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 27 December 2024
J C Bell
Director
Company registration number 02014663 (England and Wales)
W & J SIMONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

W & J Simons Limited is a private company limited by shares incorporated in England and Wales. The registered office is Manor Farm House, 32 Main Street, Muston, Nottingham, Leicestershire, NG13 0FB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover comprises revenue recognised by the company in respect of rental income receivable from the investment properties owned by the company.

Rental income is recognised when it falls due less any provision required for arrears. All turnover is derived in the UK.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% on cost
Computers
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Investment properties are included in the balance sheet at their fair market value in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 and are not depreciated.

W & J SIMONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

 

Other investments, consisting of quoted equity instruments, are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.6
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 tax

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.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
W & J SIMONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
386
2,168
2,554
Depreciation and impairment
At 1 April 2023
141
1,262
1,403
Depreciation charged in the year
77
723
800
At 31 March 2024
218
1,985
2,203
Carrying amount
At 31 March 2024
168
183
351
At 31 March 2023
245
906
1,151
4
Investment property
2024
£
Fair value
At 1 April 2023
8,382,769
Revaluations
41,900
At 31 March 2024
8,424,669

The investment property was valued by the director, at fair value on 31 March 2024, based on annual property price growth indexes for the region.

 

5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
95,916
95,916
Other investments other than loans
3,383
3,212
99,299
99,128
Fixed asset investments revalued

Shares in subsidiaries are included at cost.

 

Other investments are included in the balance sheet at the revalued amount in 2024 of £3,383 (2023: £3,212)

If other investments had not been revalued, they would have been included at the historical cost of £28,000.

W & J SIMONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
5
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 April 2023
95,916
3,212
99,128
-
171
171
At 31 March 2024
95,916
3,383
99,299
Carrying amount
At 31 March 2024
95,916
3,383
99,299
At 31 March 2023
95,916
3,212
99,128
6
Financial instruments
2024
2023
£
£
Carrying amount of financial assets include:
Instruments measured at fair value through profit or loss
3,383
3,212
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
302
12,990
Other debtors
14,609
-
0
Prepayments and accrued income
29,942
31,681
44,853
44,671
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
5,808
5,465
Amounts owed to group undertakings
95,916
95,916
Corporation tax
25,934
43,029
Other taxation and social security
1,173
1,054
Other creditors
35,556
106,935
Accruals and deferred income
55,687
14,904
220,074
267,303
W & J SIMONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
9
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
136,118
142,051

Bank loans are secured on some of the investment properties.

10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
503,562
503,562
503,562
503,562
11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Sara Dawson
Statutory Auditor:
Taylor Dawson Plumb Limited
Date of audit report:
27 December 2024
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