Company No:
Contents
DIRECTORS | Dr. J. Ball |
N. Ball | |
Mrs. S. Lyell |
SECRETARY | N. Ball |
REGISTERED OFFICE | 147 Camden Road |
Tunbridge Wells | |
TN1 2RA | |
United Kingdom |
COMPANY NUMBER | 01313480 (England and Wales) |
ACCOUNTANT | Evelyn Partners (South East) Limited |
Brockbourne House | |
77 Mount Ephraim | |
Royal Tunbridge Wells | |
TN4 8BS |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Investment property | 3 |
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Investments | 4 |
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992,653 | 992,653 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand | 6 |
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72,717 | 77,843 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current liabilities | (405,781) | (393,272) | ||
Total assets less current liabilities | 586,872 | 599,381 | ||
Creditors: amounts falling due after more than one year | 8 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Revaluation reserve |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Simsen (Property Developments) Limited (registered number:
Dr. J. Ball
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Simsen (Property Developments) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 147 Camden Road, Tunbridge Wells, TN1 2RA, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of Simsen (Property Developments) Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
These financial statements are separate financial statements.
The financial statements have been prepared on a going concern basis.
The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.
Rental income is recognised in the period in which it relates, as specified in the lease agreements.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
The fair value is determined annually by the directors, on an open market value for existing use basis.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.
Investments in subsidiaries are measured at cost less accumulated impairment.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Investment property | |
£ | |
Valuation | |
As at 01 November 2023 |
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As at 31 October 2024 |
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The 2024 valuations were made by the directors, on an open market value for existing use basis.
Other investments | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 November 2023 |
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At 31 October 2024 |
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Carrying value at 31 October 2024 |
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Carrying value at 31 October 2023 |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Cash at bank and in hand |
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2024 | 2023 | ||
£ | £ | ||
Accruals |
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Corporation tax |
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Other taxation and social security | (
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Other creditors |
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Transactions with the entity's directors
2024 | 2023 | ||
£ | £ | ||
Balance brought forward 1 November | 30,000 | 0 | |
Amounts repaid | (30,000) | 0 | |
Advances in year | 0 | 30,000 |
In the previous year, included within debtors, are balances from the directors of the company. The loans are interest free and repayable on demand. The movements during the year were as above.
Other related party transactions
2024 | 2023 | ||
£ | £ | ||
CMS Intercompany Loan to Simsen | 460,000 | 450,000 |
During the year, the CMS loaned the company £10,000 (2023: £35,000) and at the balance sheet date £460,000 (2023: £450,000) remain outstanding. No interest is charged on this loan, and it is repayable on demand.