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Registered number: 07310441
BexSimon Collections Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Blue Penguin Chartered Accountants
16 Claremont Drive
Taunton
Somerset
TA1 4JF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07310441
31 December 2024 31 December 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 204,013 195,722
204,013 195,722
CURRENT ASSETS
Debtors 5 12,868 3,653
Cash at bank and in hand 11,342 5,145
24,210 8,798
Creditors: Amounts Falling Due Within One Year 6 (59,073 ) (57,682 )
NET CURRENT ASSETS (LIABILITIES) (34,863 ) (48,884 )
TOTAL ASSETS LESS CURRENT LIABILITIES 169,150 146,838
Creditors: Amounts Falling Due After More Than One Year 7 (368,690 ) (318,033 )
NET LIABILITIES (199,540 ) (171,195 )
CAPITAL AND RESERVES
Called up share capital 8 40 40
Share premium account 24,996 24,996
Profit and Loss Account (224,576 ) (196,231 )
SHAREHOLDERS' FUNDS (199,540) (171,195)
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
D Harris
Director
07/04/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
BexSimon Collections Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07310441 . The registered office is Old Pound House, Woolsery, Bideford, EX39 5QA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 5% straight line
Plant & Machinery 25% straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Total
£ £ £
Cost
As at 1 January 2024 213,428 25,144 238,572
Additions 19,620 6,073 25,693
As at 31 December 2024 233,048 31,217 264,265
Depreciation
As at 1 January 2024 25,714 17,136 42,850
Provided during the period 11,654 5,748 17,402
As at 31 December 2024 37,368 22,884 60,252
Net Book Value
As at 31 December 2024 195,680 8,333 204,013
As at 1 January 2024 187,714 8,008 195,722
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5. Debtors
31 December 2024 31 December 2023
£ £
Due within one year
Trade debtors 139 -
VAT - 3,653
139 3,653
Due after more than one year
Amounts owed by associates 12,729 -
12,868 3,653
6. Creditors: Amounts Falling Due Within One Year
31 December 2024 31 December 2023
£ £
Trade creditors 55,315 56,832
VAT 2,908 -
Accruals and deferred income 850 850
59,073 57,682
7. Creditors: Amounts Falling Due After More Than One Year
31 December 2024 31 December 2023
£ £
Directors loan account 368,690 315,762
Amounts owed to associates - 2,271
368,690 318,033
The Directors have provided a loan to the company. This is unsecured, interest-free and repayable with not more than 12 months' notice.
8. Share Capital
31 December 2024 31 December 2023
£ £
Allotted, Called up and fully paid 40 40
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