Registered number: 08869468
H & S SIMMONS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 MARCH 2024
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H & S SIMMONS LIMITED
REGISTERED NUMBER: 08869468
BALANCE SHEET
AS AT 30 MARCH 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Page 1
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H & S SIMMONS LIMITED
REGISTERED NUMBER: 08869468
BALANCE SHEET (CONTINUED)
AS AT 30 MARCH 2024
The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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Mr H Simmons
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
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H & S SIMMONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
H & S Simmons Limited is a private Company limited by shares incorporated in England within the United Kingdom. The registered office is Tennyson House, Cambridge Business Park, Cambridge, CB4 0WZ.
The principal activity of the Company continued to be that of a holding Company.
This Company is the parent of a group.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The Company's functional and presentational currency is Pounds sterling.
The level of rounding is to the nearest £.
The following principal accounting policies have been applied:
The directors have considered the going concern basis in preparing these financial statements. They have concluded that the going concern basis is appropriate because sufficient funds will be generated from future trading of the company's subsidiaries and continued support from the directors for a period of at least twelve months from the date of the approval of these financial statements to enable the company to meet its liabilities as they arise.
The financial statements do not include any adjustments that would result from the withdrawal of this support.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Page 3
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H & S SIMMONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
No depreciation has been provided on freehold property as it is maintained in such a state of repair that its residual value is at least equal to its net book value. As a result the corresponding depreciation would not be material, and therefore is not charged to the profit and loss account.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.
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The average monthly number of employees, including directors, during the year was 2 (2023 - 2).
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Page 4
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H & S SIMMONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
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Investments in subsidiary companies
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Amounts owed by group undertakings
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Page 5
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H & S SIMMONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Authorised, allotted, called up and fully paid
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400 (2023 - 400) Ordinary shares of £1.00 each
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At 30 March 2024, the Company is jointly and severally liable in respect of the group's bank loan facilities, which amounted to £13,673,544 (2023 - £12,427,559). A debenture is secured over group assets.
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Related party transactions
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During the year the Company operated loans with the Directors of the Company. The amount owed from the Director at the end of the year was £56,530 (2023 - £55,332). Interest of £1,198 (2023 - £1,085) has been charged on the overdrawn balance. The loan, which is unsecured and repayable on demand, is shown within debtors. Section 455 tax has been provided in full on this balance.
During the year the Company continued its intercompany loans with its subsidiaries. The net balance owed from group companies is £8,344,825 (2023 - £8,456,009). The balances are interest free, repayable on demand and shown within debtors and creditors.
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Post balance sheet events
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Post year end a subsidiary, Woodlands Park Homes Limited, completed an asset sale on 29 November 2024 for £6.8 million. On the same day, H&S Simmons Limited purchased the share capital of Alvanley Residential Park Limited for £1.3 million.
The ultimate controlling parties are Mr H Simmons and Mrs G S Simmons by virtue of their joint 100% control of the Company.
Page 6
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