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Company No: 01171235 (England and Wales)

SIMPSON FOX ASSOCIATES LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

SIMPSON FOX ASSOCIATES LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

SIMPSON FOX ASSOCIATES LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2024
SIMPSON FOX ASSOCIATES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTOR R M J Fox
REGISTERED OFFICE 22 Chancery Lane
London
WC2A 1LS
United Kingdom
COMPANY NUMBER 01171235 (England and Wales)
SIMPSON FOX ASSOCIATES LIMITED

BALANCE SHEET

As at 30 June 2024
SIMPSON FOX ASSOCIATES LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 99 182
99 182
Current assets
Debtors 4 116,718 105,022
Cash at bank and in hand 305,422 225,726
422,140 330,748
Creditors: amounts falling due within one year 5 ( 23,925) ( 6,737)
Net current assets 398,215 324,011
Total assets less current liabilities 398,314 324,193
Net assets 398,314 324,193
Capital and reserves
Called-up share capital 90 90
Profit and loss account 398,224 324,103
Total shareholders' funds 398,314 324,193

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.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Simpson Fox Associates Limited (registered number: 01171235) were approved and authorised for issue by the Director on 20 March 2025. They were signed on its behalf by:

R M J Fox
Director
SIMPSON FOX ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
SIMPSON FOX ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

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.

General information and basis of accounting

Simpson Fox Associates 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 22 Chancery Lane, London, WC2A 1LS, 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 Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents commissions taken on fees and royalties negotiated on behalf of clients net of VAT.

Income arising from commissions taken on fees and royalties are recognised at the point services are provided.

Taxation

Current tax
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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 1 1

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 July 2023 1,132 1,132
At 30 June 2024 1,132 1,132
Accumulated depreciation
At 01 July 2023 950 950
Charge for the financial year 83 83
At 30 June 2024 1,033 1,033
Net book value
At 30 June 2024 99 99
At 30 June 2023 182 182

4. Debtors

2024 2023
£ £
Trade debtors 17,791 24
Amounts owed by parent undertakings (note 6) 98,272 98,272
Corporation tax 0 6,071
Other debtors 655 655
116,718 105,022

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 915 2,867
Taxation and social security 20,710 1,110
Other creditors 2,300 2,760
23,925 6,737

6. Related party transactions

Other related party transactions

During the year the company made the following related party transactions:

Robert Fox Limited (parent of Simpson Fox Associates Limited). There was no movement during the year (2023 - £nil). The balance is interest free and repayable on demand. At the balance sheet date the amount due from Robert Fox Limited was £98,272 (2023 - £98,272).