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REGISTERED NUMBER: 04830621 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SIMPSON FINANCIAL SERVICES LTD

SIMPSON FINANCIAL SERVICES LTD (REGISTERED NUMBER: 04830621)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SIMPSON FINANCIAL SERVICES LTD

COMPANY INFORMATION
for the year ended 31 December 2024







DIRECTORS: Mr R W J Simpson
Mrs N Palmer
Miss A R Tiff





SECRETARY: Miss A R Tiff





REGISTERED OFFICE: 23a Cross Street
Leamington Spa
Warwickshire
CV32 4PX





REGISTERED NUMBER: 04830621 (England and Wales)





ACCOUNTANTS: Pentlands Accountants and advisors Ltd
Chartered Certified Accountants
and Registered Auditors
3 & 4 Pegasus House
Pegasus Court
Olympus Avenue
Warwick
Warwickshire
CV34 6LW

SIMPSON FINANCIAL SERVICES LTD (REGISTERED NUMBER: 04830621)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 148,144 -
Tangible assets 5 28,274 24,847
176,418 24,847

CURRENT ASSETS
Debtors 6 102,629 70,730
Cash at bank 106,902 207,814
209,531 278,544
CREDITORS
Amounts falling due within one year 7 164,219 42,115
NET CURRENT ASSETS 45,312 236,429
TOTAL ASSETS LESS CURRENT
LIABILITIES

221,730

261,276

PROVISIONS FOR LIABILITIES 6,612 4,298
NET ASSETS 215,118 256,978

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 215,018 256,878
SHAREHOLDERS' FUNDS 215,118 256,978

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

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

The directors acknowledge their 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 FINANCIAL SERVICES LTD (REGISTERED NUMBER: 04830621)

BALANCE SHEET - continued
31 December 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 Board of Directors and authorised for issue on 20 February 2025 and were signed on its behalf by:





Mr R W J Simpson - Director


SIMPSON FINANCIAL SERVICES LTD (REGISTERED NUMBER: 04830621)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024


1. STATUTORY INFORMATION

Simpson Financial Services 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 services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2024, 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.
Website - 33% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 20% on reducing balance

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.

SIMPSON FINANCIAL SERVICES LTD (REGISTERED NUMBER: 04830621)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


2. ACCOUNTING POLICIES - continued

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 18 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 163,804
At 31 December 2024 163,804
AMORTISATION
Charge for year 15,660
At 31 December 2024 15,660
NET BOOK VALUE
At 31 December 2024 148,144

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
Website machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 7,252 39,610 21,530 57,480 125,872
Additions 6,840 - 3,039 1,758 11,637
Disposals (7,252 ) - - - (7,252 )
At 31 December 2024 6,840 39,610 24,569 59,238 130,257
DEPRECIATION
At 1 January 2024 7,252 38,478 16,391 38,904 101,025
Charge for year 2,280 227 1,636 4,067 8,210
Eliminated on disposal (7,252 ) - - - (7,252 )
At 31 December 2024 2,280 38,705 18,027 42,971 101,983
NET BOOK VALUE
At 31 December 2024 4,560 905 6,542 16,267 28,274
At 31 December 2023 - 1,132 5,139 18,576 24,847

SIMPSON FINANCIAL SERVICES LTD (REGISTERED NUMBER: 04830621)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts recoverable on contract 79,497 35,791
Other debtors 23,132 34,939
102,629 70,730

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,879 2,760
Taxation and social security 67,897 29,037
Other creditors 91,443 10,318
164,219 42,115

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr R W J Simpson.