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Registration number: SC537729

Simple Approach Estate Agents Ltd

Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Simple Approach Estate Agents Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Simple Approach Estate Agents Ltd

(Registration number: SC537729)
Statement of Financial Position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

41,758

8,324

Other financial assets

5

1

1

 

41,759

8,325

Current assets

 

Debtors

6

35,318

20,240

Cash at bank and in hand

 

96,240

13,067

 

131,558

33,307

Creditors: Amounts falling due within one year

7

(107,550)

(44,159)

Net current assets/(liabilities)

 

24,008

(10,852)

Net assets/(liabilities)

 

65,767

(2,527)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

65,667

(2,627)

Shareholders' funds/(deficit)

 

65,767

(2,527)

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 24 February 2025 and signed on its behalf by:
 

 

Simple Approach Estate Agents Ltd

(Registration number: SC537729)
Statement of Financial Position as at 30 June 2024

.........................................
Alison Agnes Millar
Director

 

Simple Approach Estate Agents Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Number One Rosemount
Parkhead Road
Blairgowrie
PH10 6LW
Scotland

These financial statements were authorised for issue by the Board on 24 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

 

Simple Approach Estate Agents Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25% Reducing balance

Motor Vehicles

25% Reducing balance

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 4 (2023 - 4).

 

Simple Approach Estate Agents Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 July 2023

-

538

7,490

7,125

Additions

25,696

-

11,059

-

At 30 June 2024

25,696

538

18,549

7,125

Depreciation

At 1 July 2023

-

390

2,442

3,997

Charge for the year

-

37

2,502

782

At 30 June 2024

-

427

4,944

4,779

Carrying amount

At 30 June 2024

25,696

111

13,605

2,346

At 30 June 2023

-

148

5,048

3,128

Total
£

Cost or valuation

At 1 July 2023

15,153

Additions

36,755

At 30 June 2024

51,908

Depreciation

At 1 July 2023

6,829

Charge for the year

3,321

At 30 June 2024

10,150

Carrying amount

At 30 June 2024

41,758

At 30 June 2023

8,324

Included within the net book value of land and buildings above is £25,696 (2023 - £Nil) in respect of freehold land and buildings.
 

 

Simple Approach Estate Agents Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 July 2023

1

1

At 30 June 2024

1

1

Impairment

Carrying amount

At 30 June 2024

1

1

6

Debtors

Note

2024
£

2023
£

Amounts owed by Group undertakings and undertakings in which the Company has a participating interest

5,761

5,748

Prepayments

 

1,065

678

Other debtors

 

28,492

13,814

 

35,318

20,240

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,740

4,976

Taxation and social security

102,504

36,200

Accruals and deferred income

2,202

2,778

Other creditors

104

205

107,550

44,159

 

Simple Approach Estate Agents Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Dividends

Final dividends paid

2024
£

2023
£

Final dividend of £1,193.62 (2023 - £1,410.83) per each Ordinary

119,362

141,083