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Registration number: 10456265

J Simpson Interiors Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

J Simpson Interiors Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

J Simpson Interiors Ltd

Company Information

Directors

Mr J Simpson

Mrs H Simpson

Registered office

115 The Broadway
Herne Bay
Kent
CT6 8EZ

Accountants

C W W Ltd
B3 Clover House
Harvey Drive
John Wilson Business Park
Whitstable
Kent
CT5 3QZ

 

J Simpson Interiors Ltd

(Registration number: 10456265)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,052

4,712

Current assets

 

Stocks

5

-

8,000

Debtors

6

2,322

1,828

Cash at bank and in hand

 

139,518

54,922

 

141,840

64,750

Creditors: Amounts falling due within one year

7

(43,032)

(22,019)

Net current assets

 

98,808

42,731

Net assets

 

102,860

47,443

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

102,859

47,442

Shareholders' funds

 

102,860

47,443

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 April 2025 and signed on its behalf by:
 

 

J Simpson Interiors Ltd

(Registration number: 10456265)
Balance Sheet as at 30 November 2024

.........................................
Mr J Simpson
Director

.........................................
Mrs H Simpson
Director

 

J Simpson Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
115 The Broadway
Herne Bay
Kent
CT6 8EZ

These financial statements were authorised for issue by the Board on 9 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

J Simpson Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% RB

Motor vehicles

25% RB

Computer equipment

25% RB

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

J Simpson Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

J Simpson Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

5,563

1,147

10,335

17,045

Additions

692

-

-

692

At 30 November 2024

6,255

1,147

10,335

17,737

Depreciation

At 1 December 2023

4,592

676

7,065

12,333

Charge for the year

416

118

818

1,352

At 30 November 2024

5,008

794

7,883

13,685

Carrying amount

At 30 November 2024

1,247

353

2,452

4,052

At 30 November 2023

971

471

3,270

4,712

5

Stocks

2024
£

2023
£

Work in progress

-

8,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

3,925

3,723

Other debtors

(1,603)

(1,895)

 

2,322

1,828

7

Creditors

Creditors: amounts falling due within one year

 

J Simpson Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

2024
£

2023
£

Due within one year

Trade creditors

13,062

15,397

Taxation and social security

20,773

2,869

Accruals and deferred income

984

925

Other creditors

8,213

2,828

43,032

22,019

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

9

Dividends

2024

2023

£

£

Interim dividend of £1,000.00 (2023 - £32,000.00) per ordinary share

1,000

32,000

 

 

10

Related party transactions

 

J Simpson Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,000

12,014