USEFUL SIMPLE GROUP LIMITED

Company Registration Number:
03831898 (England and Wales)

Unaudited statutory accounts for the year ended 30 March 2024

Period of accounts

Start date: 31 March 2023

End date: 30 March 2024

USEFUL SIMPLE GROUP LIMITED

Contents of the Financial Statements

for the Period Ended 30 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

USEFUL SIMPLE GROUP LIMITED

Directors' report period ended 30 March 2024

The directors present their report with the financial statements of the company for the period ended 30 March 2024

Principal activities of the company

Other Engineering Activities



Directors

The directors shown below have held office during the whole of the period from
31 March 2023 to 30 March 2024

Judith Sykes
George Oates
Peter Winslow


The director shown below has held office during the period of
31 March 2023 to 9 February 2024

Chris Wise


The director shown below has held office during the period of
31 March 2023 to 28 November 2023

Sean Walsh


The director shown below has held office during the period of
31 March 2023 to 31 October 2023

Catherine Ramsden


The director shown below has held office during the period of
28 November 2023 to 30 March 2024

Eva Macnamara


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
25 March 2025

And signed on behalf of the board by:
Name: Judith Sykes
Status: Director

USEFUL SIMPLE GROUP LIMITED

Profit And Loss Account

for the Period Ended 30 March 2024

2024 2023


£

£
Turnover: 10,530,321 8,327,299
Gross profit(or loss): 10,530,321 8,327,299
Administrative expenses: ( 9,936,336 ) ( 8,069,550 )
Other operating income: 0 40,000
Operating profit(or loss): 593,985 297,749
Interest receivable and similar income: 2,509 810
Interest payable and similar charges: ( 34,972 ) ( 29,465 )
Profit(or loss) before tax: 561,522 269,094
Tax: ( 13,859 ) 43,277
Profit(or loss) for the financial year: 547,663 312,371

USEFUL SIMPLE GROUP LIMITED

Balance sheet

As at 30 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 141,895 256,845
Total fixed assets: 141,895 256,845
Current assets
Debtors: 4 2,918,284 2,411,861
Cash at bank and in hand: 808,143 661,849
Total current assets: 3,726,427 3,073,710
Creditors: amounts falling due within one year: 5 ( 1,588,221 ) ( 1,510,420 )
Net current assets (liabilities): 2,138,206 1,563,290
Total assets less current liabilities: 2,280,101 1,820,135
Creditors: amounts falling due after more than one year: 6 ( 69,569 ) ( 182,477 )
Provision for liabilities: ( 25,211 )
Total net assets (liabilities): 2,185,321 1,637,658
Capital and reserves
Called up share capital: 168 168
Other reserves: 50 50
Profit and loss account: 2,185,103 1,637,440
Total Shareholders' funds: 2,185,321 1,637,658

The notes form part of these financial statements

USEFUL SIMPLE GROUP LIMITED

Balance sheet statements

For the year ending 30 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 25 March 2025
and signed on behalf of the board by:

Name: Judith Sykes
Status: Director

The notes form part of these financial statements

USEFUL SIMPLE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Revenue from engineering services is recognised in the accounts based on the stage of completion of the contract. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised

    Tangible fixed assets depreciation policy

    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. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis: Computer equipment - 20% - 35% 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.

    Other accounting policies

    Government grants Grants are accounted for under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure. Taxation Tax is recognised in profit or loss. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits and Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Pensions The company operates a defined contribution pension scheme. Going concern The directors consider the going concern basis to be appropriate having paid due regard to the Company's projected results during the twelve months from the date the financial statements are approved and anticipated cash flows, availability of bank facilities and mitigating actions that can be taken during the period. Interest income Interest income is recognised in profit or loss using the effective interest method. Finance costs Finance costs are charged to the Statement of income and retained earnings 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. Debtors Short term debtors are measured at transaction price, less any impairment. Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Creditors Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Operating leases: the Company as lessee Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

USEFUL SIMPLE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 88 84

USEFUL SIMPLE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 31 March 2023 485,516 485,516
Additions 13,275 13,275
Disposals ( 54,118 ) ( 54,118 )
Revaluations
Transfers
At 30 March 2024 444,673 444,673
Depreciation
At 31 March 2023 228,671 228,671
Charge for year 128,225 128,225
On disposals ( 54,118 ) ( 54,118 )
Other adjustments
At 30 March 2024 302,778 302,778
Net book value
At 30 March 2024 141,895 141,895
At 30 March 2023 256,845 256,845

USEFUL SIMPLE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 March 2024

4. Debtors

2024 2023
£ £
Trade debtors 2,121,515 1,956,012
Prepayments and accrued income 728,685 375,147
Other debtors 68,084 80,702
Total 2,918,284 2,411,861
Debtors due after more than one year: 0 0

USEFUL SIMPLE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 March 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 50,000 50,000
Amounts due under finance leases and hire purchase contracts 66,258 61,092
Trade creditors 323,847 293,274
Taxation and social security 381,764 348,502
Accruals and deferred income 327,769 373,105
Other creditors 438,583 384,447
Total 1,588,221 1,510,420

During a previous year, the company received a loan provided by the government under the COVID 19 CBILS scheme, with interest payable on the loan. The loan is shown partly in creditors falling due within one year, and partly in creditors falling due after one year - in both cases under Bank loans.

USEFUL SIMPLE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 March 2024

6. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 66,667 116,667
Amounts due under finance leases and hire purchase contracts 2,902 65,810
Total 69,569 182,477

USEFUL SIMPLE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 March 2024

7. Financial Commitments

A defined contribution Group Personal Pension Plan was introduced in February 2002. Employees who opt to join the scheme contribute a minimum of 3% and the company's contribution ranges from 6% to 17%. Total contributions payable in the year amounted to £522,701 (2023: £441,483).