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SIMPLICITY SVQS LTD

Registered Number
SC670071
(Scotland)

Unaudited Financial Statements for the Year ended
31 August 2024

SIMPLICITY SVQS LTD
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

LAMONT, Jacqueline

Registered Address

56 Forsyth Street
Hopeman
Elgin
IV30 5SY

Registered Number

SC670071 (Scotland)
SIMPLICITY SVQS LTD
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3599-
599-
Current assets
Debtors412,650-
Cash at bank and on hand4,6133,558
17,2633,558
Creditors amounts falling due within one year5(11,200)(2,845)
Net current assets (liabilities)6,063713
Total assets less current liabilities6,662713
Net assets6,662713
Capital and reserves
Called up share capital100100
Profit and loss account6,562613
Shareholders' funds6,662713
The financial statements were approved and authorised for issue by the Director on 19 May 2025, and are signed on its behalf by:
LAMONT, Jacqueline
Director
Registered Company No. SC670071
SIMPLICITY SVQS LTD
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from rendering of services
Revenue 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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Total

£
Cost or valuation
Additions798
At 31 August 24798
Depreciation and impairment
Charge for year199
At 31 August 24200
Net book value
At 31 August 24599
At 31 August 23-
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables12,650-
Total12,650-
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables499-
Bank borrowings and overdrafts44663
Taxation and social security5,1951,642
Other creditors5,462540
Total11,2002,845