IRIS Accounts Production v24.3.2.46 12102025 Board of Directors 1.8.23 31.7.24 31.7.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh121020252023-07-31121020252024-07-31121020252023-08-012024-07-31121020252022-07-31121020252022-08-012023-07-31121020252023-07-3112102025ns15:EnglandWales2023-08-012024-07-3112102025ns14:PoundSterling2023-08-012024-07-3112102025ns10:Director12023-08-012024-07-3112102025ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3112102025ns10:SmallEntities2023-08-012024-07-3112102025ns10:AuditExemptWithAccountantsReport2023-08-012024-07-3112102025ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3112102025ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3112102025ns10:AbridgedAccounts2023-08-012024-07-3112102025ns10:OrdinaryShareClass12023-08-012024-07-3112102025ns10:Director22023-08-012024-07-3112102025ns10:RegisteredOffice2023-08-012024-07-3112102025ns5:CurrentFinancialInstruments2024-07-3112102025ns5:CurrentFinancialInstruments2023-07-3112102025ns5:Non-currentFinancialInstruments2024-07-3112102025ns5:Non-currentFinancialInstruments2023-07-3112102025ns5:ShareCapital2024-07-3112102025ns5:ShareCapital2023-07-3112102025ns5:RevaluationReserve2024-07-3112102025ns5:RevaluationReserve2023-07-3112102025ns5:RetainedEarningsAccumulatedLosses2024-07-3112102025ns5:RetainedEarningsAccumulatedLosses2023-07-3112102025ns5:Secured2024-07-3112102025ns5:Secured2023-07-3112102025ns10:OrdinaryShareClass12024-07-3112102025ns5:RevaluationReserve2023-07-31
REGISTERED NUMBER: 12102025 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

SIMPSON REEDS (NORWICH) LTD

SIMPSON REEDS (NORWICH) LTD (REGISTERED NUMBER: 12102025)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

SIMPSON REEDS (NORWICH) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: N S Rubin
J S Rubin





REGISTERED OFFICE: Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ





REGISTERED NUMBER: 12102025 (England and Wales)





ACCOUNTANTS: Goldwyns Limited
Chartered Accountants
Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ

SIMPSON REEDS (NORWICH) LTD (REGISTERED NUMBER: 12102025)

ABRIDGED BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,213,142 2,544,239

CURRENT ASSETS
Debtors 320,425 263,360
Cash at bank 4,370 4,159
324,795 267,519
CREDITORS
Amounts falling due within one year 520,474 525,598
NET CURRENT LIABILITIES (195,679 ) (258,079 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,017,463

2,286,160

CREDITORS
Amounts falling due after more than one
year

(2,770,000

)

(2,064,719

)

PROVISIONS FOR LIABILITIES (80,702 ) (66,762 )
NET ASSETS 166,761 154,679

CAPITAL AND RESERVES
Called up share capital 6 150 150
Revaluation reserve 7 242,106 200,290
Retained earnings (75,495 ) (45,761 )
SHAREHOLDERS' FUNDS 166,761 154,679

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 REEDS (NORWICH) LTD (REGISTERED NUMBER: 12102025)

ABRIDGED BALANCE SHEET - continued
31 JULY 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 February 2025 and were signed on its behalf by:





J S Rubin - Director


SIMPSON REEDS (NORWICH) LTD (REGISTERED NUMBER: 12102025)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Simpson Reeds (Norwich) Limited 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.

The place of business differs to the registered office and can be found in Norwich, Norfolk.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

SIMPSON REEDS (NORWICH) LTD (REGISTERED NUMBER: 12102025)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 2,544,239
Additions 613,142
Revaluations 55,761
At 31 July 2024 3,213,142
NET BOOK VALUE
At 31 July 2024 3,213,142
At 31 July 2023 2,544,239

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2020 267,047
Valuation in 2024 55,761
Cost 2,890,334
3,213,142

5. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,950,000 1,530,532

The company's bank debt is secured on the investment properties to which they relate and backed by personal guarantees given by J S Rubin and N S Rubin.

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
150 Ordinary 1.00 150 150

7. RESERVES
Revaluation
reserve
£   
At 1 August 2023 200,290
Reserves transfer 41,816

At 31 July 2024 242,106

SIMPSON REEDS (NORWICH) LTD (REGISTERED NUMBER: 12102025)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

8. RELATED PARTY DISCLOSURES

In aggregate, at the balance sheet date the company owed £833,078 to other companies under common control (2023 - £578,018).



CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SIMPSON REEDS (NORWICH) LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Simpson Reeds (Norwich) Ltd for the year ended 31 July 2024 which comprise the Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Simpson Reeds (Norwich) Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Simpson Reeds (Norwich) Ltd and state those matters that we have agreed to state to the Board of Directors of Simpson Reeds (Norwich) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Simpson Reeds (Norwich) Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Simpson Reeds (Norwich) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Simpson Reeds (Norwich) Ltd. You consider that Simpson Reeds (Norwich) Ltd 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 financial statements of Simpson Reeds (Norwich) Ltd. 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 financial statements.






Goldwyns Limited
Chartered Accountants
Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ


25 February 2025