Registered number
SC634396
Simbali Ltd
Unaudited Filleted Accounts
31 August 2024
Simbali Ltd
Registered number: SC634396
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 69,500 83,400
Tangible assets 4 408,434 409,391
477,934 492,791
Current assets
Stocks 8,297 10,270
Debtors 5 2,787 28,290
Cash at bank and in hand 11,133 19,430
22,217 57,990
Creditors: amounts falling due within one year 6 (93,323) (61,038)
Net current liabilities (71,106) (3,048)
Total assets less current liabilities 406,828 489,743
Creditors: amounts falling due after more than one year 7 (151,187) (163,524)
Net assets 255,641 326,219
Capital and reserves
Called up share capital 401,000 401,000
Profit and loss account (145,359) (74,781)
Shareholder's funds 255,641 326,219
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Kirk Gillon
Director
Approved by the board on 16 May 2025
Simbali Ltd
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 13
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 139,000
At 31 August 2024 139,000
Amortisation
At 1 September 2023 55,600
Provided during the year 13,900
At 31 August 2024 69,500
Net book value
At 31 August 2024 69,500
At 31 August 2023 83,400
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 400,670 20,598 - 421,268
Additions - - 3,795 3,795
At 31 August 2024 400,670 20,598 3,795 425,063
Depreciation
At 1 September 2023 - 11,877 - 11,877
Charge for the year - 4,119 633 4,752
At 31 August 2024 - 15,996 633 16,629
Net book value
At 31 August 2024 400,670 4,602 3,162 408,434
At 31 August 2023 400,670 8,721 - 409,391
5 Debtors 2024 2023
£ £
Trade debtors 2,787 11,140
Other debtors - 17,150
2,787 28,290
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 13,242 14,148
Trade creditors 11,189 14,045
Taxation and social security costs 14,998 17,624
Other creditors 53,894 15,221
93,323 61,038
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 151,187 163,524
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 98,216 106,930
Secured bank loans 131,923 140,737
The bank loans are secured by a standard security over the company's heritable property and by a bond and floating charge over the company's assets.
9 Other information
Simbali Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
The Ship Inn
Halketts Hall
Limekilns
Dunfermline
KY11 3HJ
Simbali Ltd SC634396 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts April 2025 Kirk Gillon No description of principal activity SC634396 2022-09-01 2023-08-31 SC634396 core:WithinOneYear 2023-08-31 SC634396 core:AfterOneYear 2023-08-31 SC634396 core:ShareCapital 2023-08-31 SC634396 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC634396 2023-09-01 2024-08-31 SC634396 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC634396 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 SC634396 bus:Director40 2023-09-01 2024-08-31 SC634396 1 2023-09-01 2024-08-31 SC634396 2 2023-09-01 2024-08-31 SC634396 core:Goodwill 2023-09-01 2024-08-31 SC634396 core:LandBuildings 2023-09-01 2024-08-31 SC634396 core:PlantMachinery 2023-09-01 2024-08-31 SC634396 core:Vehicles 2023-09-01 2024-08-31 SC634396 countries:Scotland 2023-09-01 2024-08-31 SC634396 bus:FRS102 2023-09-01 2024-08-31 SC634396 bus:FilletedAccounts 2023-09-01 2024-08-31 SC634396 2024-08-31 SC634396 core:WithinOneYear 2024-08-31 SC634396 core:AfterOneYear 2024-08-31 SC634396 core:ShareCapital 2024-08-31 SC634396 core:RetainedEarningsAccumulatedLosses 2024-08-31 SC634396 core:Goodwill 2024-08-31 SC634396 core:LandBuildings 2024-08-31 SC634396 core:PlantMachinery 2024-08-31 SC634396 core:Vehicles 2024-08-31 SC634396 2023-08-31 SC634396 core:Goodwill 2023-08-31 SC634396 core:LandBuildings 2023-08-31 SC634396 core:PlantMachinery 2023-08-31 SC634396 core:Vehicles 2023-08-31 iso4217:GBP xbrli:pure