Company registration number 10321762 (England and Wales)
SIMOON LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
SIMOON LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SIMOON LTD
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
57,501
63,619
Current assets
Stocks
5,260
6,770
Debtors
4
373,466
334,929
Cash at bank and in hand
76,946
89,915
455,672
431,614
Creditors: amounts falling due within one year
5
(320,518)
(332,843)
Net current assets
135,154
98,771
Net assets
192,655
162,390
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
192,455
162,190
Total equity
192,655
162,390

For the financial year ended 31 August 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 29 May 2025
Jagjit Sihota
Director
Company registration number 10321762 (England and Wales)
SIMOON LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information

Simoon Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4 Hockley Industrial Estate, Pitsford Street, Birmingham, West Midlands, UK, B18 6PT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Over the life of the lease
Plant and machinery
18% on reducing balance
1.5
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.6
Taxation

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.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SIMOON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
18
17
3
Tangible fixed assets
Leasehold improvements
Plant and machinery
Total
£
£
£
Cost
At 1 September 2023
22,170
176,706
198,876
Additions
-
0
7,261
7,261
At 31 August 2024
22,170
183,967
206,137
Depreciation and impairment
At 1 September 2023
13,302
121,955
135,257
Depreciation charged in the year
2,217
11,162
13,379
At 31 August 2024
15,519
133,117
148,636
Carrying amount
At 31 August 2024
6,651
50,850
57,501
At 31 August 2023
8,868
54,751
63,619
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
373,466
334,929
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
799
695
Trade creditors
9,546
33,366
Corporation tax
8,873
9,332
Other taxation and social security
38,417
32,095
Other creditors
262,883
257,355
320,518
332,843
SIMOON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
6
Related party transactions
Transactions with related parties

As at 31 August 2024 the following balances, included in other debtors due within one year, were due from the related companies:

 

Klanza Ltd:

 

2024: £345,000

2023: £300,000

 

39WM Limited:

 

2024: £13,260

2023: £13,260

 

 

As at 31 August 2024 the following balances, included in other creditors due within one year, were due to the related companies:

 

Ibrahim Ltd

 

2024: £30,170

2023: £23,500

7
Ultimate Controlling Party

In the opinion of the director, the company is jointly controlled by Jagjit Sihota and Khalid Hussain.

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