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Company No: 12241016 (England and Wales)

SIMBA HOLDINGS NORTH EAST LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH THE REGISTRAR

SIMBA HOLDINGS NORTH EAST LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024

Contents

SIMBA HOLDINGS NORTH EAST LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2024
SIMBA HOLDINGS NORTH EAST LIMITED

BALANCE SHEET (continued)

AS AT 31 AUGUST 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 677,407 691,897
Investments 4 1 1
677,408 691,898
Current assets
Debtors 5 227,333 209,033
Cash at bank and in hand 3,350 13,357
230,683 222,390
Creditors: amounts falling due within one year 6 ( 328,681) ( 328,368)
Net current liabilities (97,998) (105,978)
Total assets less current liabilities 579,410 585,920
Creditors: amounts falling due after more than one year 7 ( 537,144) ( 556,202)
Net assets 42,266 29,718
Capital and reserves
Called-up share capital 100 100
Profit and loss account 42,166 29,618
Total shareholder's funds 42,266 29,718

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Simba Holdings North East Limited (registered number: 12241016) were approved and authorised for issue by the Board of Directors on 10 April 2025. They were signed on its behalf by:

M Vadhera
Director
SIMBA HOLDINGS NORTH EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
SIMBA HOLDINGS NORTH EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Simba Holdings North East Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 125a Kenton Road, Newcastle Upon Tyne, NE3 4NQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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 and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from it's activities.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 September 2023 724,500 724,500
At 31 August 2024 724,500 724,500
Accumulated depreciation
At 01 September 2023 32,603 32,603
Charge for the financial year 14,490 14,490
At 31 August 2024 47,093 47,093
Net book value
At 31 August 2024 677,407 677,407
At 31 August 2023 691,897 691,897

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 September 2023 1
At 31 August 2024 1
Carrying value at 31 August 2024 1
Carrying value at 31 August 2023 1

Investments in shares

The following were investments in the shares of the company

Name of entity Registered office Principal activity Class of
shares
Ownership
31.08.2024
Ownership
31.08.2023
Held
Nurserytime Limited 125a Kenton Road, Newcastle upon Tyne, United Kingdom, NE3 4NQ The provision of nursery care Ordinary 100.00% 100.00% Direct
Daypark Limited 125a Kenton Road, Newcastle upon Tyne, United Kingdom, NE3 4NQ The provision of nursery care Ordinary 100.00% 100.00% Indirect

5. Debtors

2024 2023
£ £
Amounts owed by own subsidiaries 219,033 209,033
Amounts owed by related parties 8,300 0
227,333 209,033

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 23,964 23,646
Amounts owed to directors 293,138 293,637
Accruals 2,400 2,040
Taxation and social security 9,179 9,045
328,681 328,368

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 537,144 556,202

The bank loans are secured on freehold properties of the Company with a carrying value of £677,407 (2023: £691,897).

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans (secured / repayable by instalments) 441,287 456,208