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REGISTERED NUMBER: 05927649 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Simtra Limited

Simtra Limited (Registered number: 05927649)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


Simtra Limited (Registered number: 05927649)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 6,646 8,382

CURRENT ASSETS
Debtors 4 112,356 116,000
Cash at bank 3,208 36
115,564 116,036
CREDITORS
Amounts falling due within one year 5 115,146 78,938
NET CURRENT ASSETS 418 37,098
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,064

45,480

CREDITORS
Amounts falling due after more than one
year

6

(129,215

)

(142,863

)

PROVISIONS FOR LIABILITIES (1,662 ) (1,426 )
NET LIABILITIES (123,813 ) (98,809 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (123,913 ) (98,909 )
SHAREHOLDERS' FUNDS (123,813 ) (98,809 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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:




Mrs T A Clifford - Director


Simtra Limited (Registered number: 05927649)

Notes to the Financial Statements
for the year ended 31 March 2024


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis.

The directors have confirmed that they will continue to give financial support to the company until such time as its position improves. In addition the directors have confirmed that they will not recall their loans within 12 months. The directors consider that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if the financial support were withdrawn.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost and 25% on reducing balance
Fixtures and fittings - 20% on reducing balance

Taxation
Taxation for the year 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.

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 year 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Simtra Limited (Registered number: 05927649)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023 67,139 21,761 88,900
Additions 710 - 710
At 31 March 2024 67,849 21,761 89,610
DEPRECIATION
At 1 April 2023 62,705 17,813 80,518
Charge for year 1,655 791 2,446
At 31 March 2024 64,360 18,604 82,964
NET BOOK VALUE
At 31 March 2024 3,489 3,157 6,646
At 31 March 2023 4,434 3,948 8,382

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Directors' loan accounts 112,356 116,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts 4,200 4,200
Tax 24,904 20,229
Social security and other taxes 1,773 6,499
VAT 83,184 47,380
Accrued expenses 1,085 630
115,146 78,938

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans - 1-2 years 4,200 4,200
Bank loans - 2-5 years 18,736 22,663
SSAS Loan 106,279 116,000
129,215 142,863

7. SECURED DEBTS

The following secured debts are included within creditors:

31/3/24 31/3/23
£    £   
SSAS Loan 106,279 116,000

Personal guarantees given and fixed and floating charge for SSAS Loan

Simtra Limited (Registered number: 05927649)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director and shareholders consider that the overdrawn director loan account, shown in note 5 above, is partially covered by the £106,279 outstanding for the SSAS loan as this has been guaranteed to be repaid by Simon and Tracey Clifford personally.

9. ULTIMATE CONTROLLING PARTY

S Clifford is considered to be the ultimate controlling party by virtue of his shareholding.