Company registration number 09913560 (England and Wales)
SIMON SMITH SAYS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
SIMON SMITH SAYS LTD
COMPANY INFORMATION
Director
Mr S C Smith
Company number
09913560
Registered office
Peppers White Lane
Bix
Henley on Thames
Oxfordshire
RG9 6BP
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
1 Legg Street
Chelmsford
Essex
CM1 1JS
SIMON SMITH SAYS LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
SIMON SMITH SAYS LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SIMON SMITH SAYS LTD FOR THE PERIOD ENDED 29 JUNE 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Simon Smith Says Ltd for the period ended 29 June 2024 which comprise, the 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 at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Simon Smith Says 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 Simon Smith Says Ltd and state those matters that we have agreed to state to the board of directors of Simon Smith Says Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Simon Smith Says Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Simon Smith Says 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 Simon Smith Says Ltd. You consider that Simon Smith Says Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Simon Smith Says 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.

Ormerod Rutter Limited
27 September 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
SIMON SMITH SAYS LTD
BALANCE SHEET
AS AT 29 JUNE 2024
29 June 2024
- 2 -
29 June 2024
30 December 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
976
1,212
Current assets
Debtors
4
81,949
78,539
Cash at bank and in hand
1
197
81,950
78,736
Creditors: amounts falling due within one year
5
(76,066)
(69,900)
Net current assets
5,884
8,836
Total assets less current liabilities
6,860
10,048
Creditors: amounts falling due after more than one year
6
(4,238)
(8,933)
Net assets
2,622
1,115
Capital and reserves
Called up share capital
8
200
200
Profit and loss reserves
2,422
915
Total equity
2,622
1,115

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 29 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 27 September 2024
Mr S C Smith
Director
Company registration number 09913560 (England and Wales)
SIMON SMITH SAYS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 JUNE 2024
- 3 -
1
Accounting policies
Company information

Simon Smith Says Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Peppers White Lane, Bix, Henley on Thames, Oxfordshire, RG9 6BP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
10% on reducing balance
Computer equipment
33% on cost
1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SIMON SMITH SAYS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 31 December 2022 and 29 June 2024
2,268
7,079
9,347
Depreciation and impairment
At 31 December 2022
1,184
6,951
8,135
Depreciation charged in the period
108
128
236
At 29 June 2024
1,292
7,079
8,371
Carrying amount
At 29 June 2024
976
-
0
976
At 30 December 2022
1,084
128
1,212
SIMON SMITH SAYS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JUNE 2024
- 5 -
4
Debtors
2024
2022
Amounts falling due within one year:
£
£
Trade debtors
19,477
15,487
Other debtors
62,472
63,052
81,949
78,539
5
Creditors: amounts falling due within one year
2024
2022
£
£
Bank loans
3,014
2,983
Trade creditors
-
0
2,409
Taxation and social security
71,667
63,157
Other creditors
1,385
1,351
76,066
69,900
6
Creditors: amounts falling due after more than one year
2024
2022
£
£
Bank loans and overdrafts
4,238
8,933
7
Secured debts
The following secured debts are included within creditors:
2024
2022
£
£
Bank loans
7,252
11,916
Bank loans are secured by way of government-backed guarentee.
8
Called up share capital
2024
2022
2024
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
100
100
100
100
Ordinary B of £1 each
100
100
100
100
200
200
200
200
SIMON SMITH SAYS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JUNE 2024
- 6 -
9
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Loan account
2.25
63,052
62,051
1,369
(64,000)
62,472
63,052
62,051
1,369
(64,000)
62,472

The directors loan account was repaid within nine months of the year end.

10
Ultimate controlling party

The ultimate controlling party is Mr S C Smith and Mrs C F Smith.

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