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REGISTERED NUMBER: 14974494 (England and Wales)















FINANCIAL STATEMENTS

FOR THE PERIOD 3 JULY 2023 TO 31 MARCH 2024

FOR

SIMPLAST PROPERTIES UK LIMITED

SIMPLAST PROPERTIES UK LIMITED (REGISTERED NUMBER: 14974494)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 3 July 2023 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SIMPLAST PROPERTIES UK LIMITED

COMPANY INFORMATION
for the Period 3 July 2023 to 31 March 2024







DIRECTOR: G Lorenzin





REGISTERED OFFICE: Wards Court
203 Ecclesall Road
Sheffield
United Kingdom
S11 8HW





REGISTERED NUMBER: 14974494 (England and Wales)





AUDITORS: Paul Howley & Co Ltd
Chartered Certified Accountants
Statutory Auditor
42 Pitt Street
Barnsley
South Yorkshire
S70 1BB

SIMPLAST PROPERTIES UK LIMITED (REGISTERED NUMBER: 14974494)

BALANCE SHEET
31 March 2024

Notes £    £   
FIXED ASSETS
Investment property 5 3,294,407

CURRENT ASSETS
Debtors 6 72,880

CREDITORS
Amounts falling due within one year 7 3,312,019
NET CURRENT LIABILITIES (3,239,139 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,268

CAPITAL AND RESERVES
Called up share capital 8 1
Retained earnings 55,267
SHAREHOLDERS' FUNDS 55,268

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 March 2025 and were signed by:





G Lorenzin - Director


SIMPLAST PROPERTIES UK LIMITED (REGISTERED NUMBER: 14974494)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 3 July 2023 to 31 March 2024

1. STATUTORY INFORMATION

Simplast Properties UK 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 presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on a going concern basis under the historical cost convention.

Going concern
The directors have received confirmation from the parent company that it will continue to support the company, and specifically not require repayment of loans which would affect the company's ability to remain a going concern.

With this support in place, and after assessing the parent's ability to provide support if required, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the period of 12 months from the date of approval of these financial statements

Turnover
Turnover is measured at the fair value of the consideration for rents 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 period 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.


SIMPLAST PROPERTIES UK LIMITED (REGISTERED NUMBER: 14974494)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 3 July 2023 to 31 March 2024

3. ACCOUNTING POLICIES - continued
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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 3,294,407
At 31 March 2024 3,294,407
NET BOOK VALUE
At 31 March 2024 3,294,407

In the opinion of the director, the market value of the investment property at the year end equated to cost.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed by group undertakings 72,880

Amounts owed by group undertakings are unsecured, have no fixed date of repayment, carry no interest and are repayable on demand.

SIMPLAST PROPERTIES UK LIMITED (REGISTERED NUMBER: 14974494)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 3 July 2023 to 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts 14
Amounts owed to group undertakings 3,279,576
Taxation and social security 29,408
Other creditors 3,021
3,312,019

Amounts owed to group undertakings are unsecured, have no fixed date of repayment, carry no interest and are repayable on demand.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
1 Ordinary 1 1

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Berry (Senior Statutory Auditor)
for and on behalf of Paul Howley & Co Ltd

10. ULTIMATE CONTROLLING PARTY

The company's ultimate parent company is Nuova Simplast S.N.C. Di Lorenzin Vincenzo E Ci, a company incorporated in Italy.