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Registered Number: 03773934
England and Wales

 

 

 

SIMCROSS WELDING SERVICES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of Simcross Welding Services Limited for the year ended 31 July 2024 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the member of Simcross Welding Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Simcross Welding Services Limited and state those matters that we have agreed to state to the Board of Simcross Welding Services Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Simcross Welding Services Limited and its members as a body for our work or for this report.

It is your duty to ensure that Simcross Welding Services 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 Simcross Welding Services Limited. You consider that Simcross Welding Services 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 Simcross Welding Services 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.



....................................................
Allazo Ltd
2 Claridge Court
Lower Kings Road
Berkhamsted
Hertfordshire
HP4 2AF
29 November 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 87,173    97,711 
87,173    97,711 
Current assets      
Stocks 192,000    194,000 
Debtors: amounts falling due within one year 474,329    281,446 
Cash at bank and in hand 29,206    108,193 
695,535    583,639 
Creditors: amount falling due within one year (335,373)   (252,312)
Net current assets 360,162    331,327 
 
Total assets less current liabilities 447,335    429,038 
Provisions for liabilities (21,342)   (24,023)
Net assets 425,993    405,015 
 

Capital and reserves
     
Called up share capital 4 120    120 
Profit and loss account 425,873    404,895 
Shareholders' funds 425,993    405,015 
 


For the year ended 31 July 2024 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 29 November 2024 and were signed on its behalf by:


-------------------------------
A Simmons
Director
2
General Information
Simcross Welding Services Limited is a private company, limited by shares, registered in England and Wales, registration number 03773934, registration address Unit 2 The Maintenance Depot, Furtherfield , Abbots Langley, Abbots Langley, WD5 0PL.

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 on the going concern basis and 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 is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Turnover includes revenue earned from the sale of goods and from the rendering of service, the policies adopted are as follows:


Sale of goods

Sale of goods revenue is recognised at the point of sale, which is usually where the customer has taken delivery of the goods, the risks and rewards are transferred to the customer and there is a valid sales contract. Amounts disclosed as revenue are net of sales returns and trade discounts.


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.


Other revenue

Other revenue is recognised when it is received or when the right to receive payment is established.
Finance lease and hire purchase charges
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
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 provided in full in respect of material taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
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 25 Reducing Balance
Motor Vehicles 20 Reducing Balance
Stocks and Work in Progress
Stocks is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is calculated based on progress of works completed, calculated on relevant revenue and costs of the project.
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.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 23 (2023 : 25).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 August 2023 26,592    146,169    36,550    209,311 
Additions     1,368    1,368 
Disposals      
At 31 July 2024 26,592    146,169    37,918    210,679 
Depreciation
At 01 August 2023 16,257    67,294    28,049    111,600 
Charge for year 1,551    7,888    2,467    11,906 
On disposals      
At 31 July 2024 17,808    75,182    30,516    123,506 
Net book values
Closing balance as at 31 July 2024 8,784    70,987    7,402    87,173 
Opening balance as at 01 August 2023 10,335    78,875    8,501    97,711 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
20 Ordinary B shares of £1.00 each 20    20 
120    120 

3