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REGISTERED NUMBER: SC635117 (Scotland)














FINANCIAL STATEMENTS

FOR THE PERIOD 1 AUGUST 2023 TO 30 JANUARY 2025

FOR

SIMEONE LIMITED

SIMEONE LIMITED (REGISTERED NUMBER: SC635117)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2023 TO 30 JANUARY 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

SIMEONE LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 AUGUST 2023 TO 30 JANUARY 2025







DIRECTORS: Mario Vincenzo Simeone
Delia Simeone





REGISTERED OFFICE: c/o DM McNaught & Co Ltd
166 Buchanan Street
Glasgow
G1 2LW





REGISTERED NUMBER: SC635117 (Scotland)





ACCOUNTANTS: D M McNaught & Co Ltd
Chartered Accountants
166 Buchanan Street
Glasgow
Lanarkshire
G1 2LW

SIMEONE LIMITED (REGISTERED NUMBER: SC635117)

BALANCE SHEET
30 JANUARY 2025

2025 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 200,413
Investment property 5 - -
- 200,413

CURRENT ASSETS
Debtors 6 2,427 8,067
Cash at bank 994 44,314
3,421 52,381
CREDITORS
Amounts falling due within one year 7 133,940 393,874
NET CURRENT LIABILITIES (130,519 ) (341,493 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(130,519

)

(141,080

)

CREDITORS
Amounts falling due after more than one
year

8

24,064

32,680
NET LIABILITIES (154,583 ) (173,760 )

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings (154,883 ) (174,060 )
SHAREHOLDERS' FUNDS (154,583 ) (173,760 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 January 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SIMEONE LIMITED (REGISTERED NUMBER: SC635117)

BALANCE SHEET - continued
30 JANUARY 2025


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 Board of Directors and authorised for issue on 1 April 2025 and were signed on its behalf by:





Mario Vincenzo Simeone - Director


SIMEONE LIMITED (REGISTERED NUMBER: SC635117)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2023 TO 30 JANUARY 2025


1. STATUTORY INFORMATION

Simeone Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Leasehold premium have been fully amortised in the current year.

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 etc - 20% on reducing balance

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.

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.

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.

SIMEONE LIMITED (REGISTERED NUMBER: SC635117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 30 JANUARY 2025


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - 2 ).

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 182,055 34,747 216,802
Disposals - (34,747 ) (34,747 )
Reclassification/transfer (182,055 ) - (182,055 )
At 30 January 2025 - - -
DEPRECIATION
At 1 August 2023 - 16,389 16,389
Eliminated on disposal - (16,389 ) (16,389 )
At 30 January 2025 - - -
NET BOOK VALUE
At 30 January 2025 - - -
At 31 July 2023 182,055 18,358 200,413

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Disposals (182,055 )
Reclassification/transfer 182,055
At 30 January 2025 -
NET BOOK VALUE
At 30 January 2025 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2023
£    £   
Other debtors 2,427 8,067

SIMEONE LIMITED (REGISTERED NUMBER: SC635117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 30 JANUARY 2025


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2023
£    £   
Bank loans and overdrafts 5,088 4,023
Trade creditors - 712
Taxation and social security - 4,887
Other creditors 128,852 384,252
133,940 393,874

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2023
£    £   
Bank loans 24,064 32,680

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,390 14,401

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 January 2025 and the year ended 31 July 2023:

2025 2023
£    £   
Mario Vincenzo Simeone
Balance outstanding at start of period - 850
Amounts repaid - (850 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - -

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SIMEONE LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Simeone Limited for the period ended 30 January 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Simeone Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Simeone Limited and state those matters that we have agreed to state to the Board of Directors of Simeone Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Simeone Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Simeone Limited. You consider that Simeone Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Simeone Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






D M McNaught & Co Ltd
Chartered Accountants
166 Buchanan Street
Glasgow
Lanarkshire
G1 2LW


1 April 2025