Simuserv Ltd 13813970 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is the wholesale of computers, computer peripheral equipment and software Digita Accounts Production Advanced 6.30.9574.0 true 13813970 2024-01-01 2024-12-31 13813970 2024-12-31 13813970 core:RetainedEarningsAccumulatedLosses 2024-12-31 13813970 core:ShareCapital 2024-12-31 13813970 core:CurrentFinancialInstruments 2024-12-31 13813970 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 13813970 core:FurnitureFittingsToolsEquipment 2024-12-31 13813970 bus:SmallEntities 2024-01-01 2024-12-31 13813970 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 13813970 bus:FilletedAccounts 2024-01-01 2024-12-31 13813970 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13813970 bus:RegisteredOffice 2024-01-01 2024-12-31 13813970 bus:Director1 2024-01-01 2024-12-31 13813970 bus:Director2 2024-01-01 2024-12-31 13813970 bus:Director3 2024-01-01 2024-12-31 13813970 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13813970 bus:Agent1 2024-01-01 2024-12-31 13813970 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 13813970 core:OfficeEquipment 2024-01-01 2024-12-31 13813970 countries:EnglandWales 2024-01-01 2024-12-31 13813970 2023-12-31 13813970 core:FurnitureFittingsToolsEquipment 2023-12-31 13813970 2023-01-01 2023-12-31 13813970 2023-12-31 13813970 core:RetainedEarningsAccumulatedLosses 2023-12-31 13813970 core:ShareCapital 2023-12-31 13813970 core:CurrentFinancialInstruments 2023-12-31 13813970 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13813970 core:FurnitureFittingsToolsEquipment 2023-12-31 iso4217:GBP xbrli:pure

REGISTRAR OF COMPANIES

Registration number: 13813970

Simuserv Ltd

Unaudited Financial Statements

31 December 2024

image-name

 

Simuserv Ltd

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Simuserv Ltd
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Simuserv Ltd for the year ended 31 December 2024 as set out on pages 2 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Simuserv Ltd, as a body, in accordance with the terms of our engagement letter dated 25 April 2024. Our work has been undertaken solely to prepare for your approval the accounts of Simuserv Ltd and state those matters that we have agreed to state to the Board of Directors of Simuserv Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Simuserv Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Simuserv Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Simuserv Ltd. You consider that Simuserv Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Simuserv Ltd. 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 accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

15 May 2025

 

Simuserv Ltd

(Registration number: 13813970)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,104

4,867

Current assets

 

Debtors

5

71,026

179,146

Cash at bank and in hand

 

133,704

47,327

 

204,730

226,473

Creditors: Amounts falling due within one year

6

(424,303)

(412,736)

Net current liabilities

 

(219,573)

(186,263)

Net liabilities

 

(216,469)

(181,396)

Capital and reserves

 

Allotted, called up and fully paid share capital

5,000

5,000

Profit and loss account

(221,469)

(186,396)

Total equity

 

(216,469)

(181,396)

 

Simuserv Ltd

(Registration number: 13813970)
Balance Sheet as at 31 December 2024 (continued)

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 May 2025 and signed on its behalf by:
 

.........................................

Dr A Siefert

Director

.........................................

G P Diegelmann

Director

.........................................

Dr F Demming-Janssen

Director

 

Simuserv Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Clint Mill
Cornmarket
PENRITH
CA11 7HW

The principal place of business is:
Friedrich Bergius Ring 15
Wuerzburg
97076
Germany

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company has net liabilities at 31 December 2024 and meets its day to day working capital requirements through its inter company loan which, in common with all such facilities, is repayable on demand. On the basis of this support, the directors consider it appropriate to prepare the financial statements on the going concern basis.

However, should the company not have the support of its group, and therefore be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

 

Simuserv Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

4 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

 

Simuserv Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

4

Tangible assets

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 January 2024

7,218

7,218

Additions

303

303

Disposals

(649)

(649)

At 31 December 2024

6,872

6,872

Depreciation

At 1 January 2024

2,351

2,351

Charge for the year

1,647

1,647

Eliminated on disposal

(230)

(230)

At 31 December 2024

3,768

3,768

Carrying amount

At 31 December 2024

3,104

3,104

At 31 December 2023

4,867

4,867

 

Simuserv Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

5

Debtors

2024
£

2023
£

Trade debtors

-

88,724

Other debtors

71,026

90,422

71,026

179,146

6

Creditors

2024
£

2023
£

Due within one year

 

Trade creditors

 

-

8,608

Amounts owed to group undertakings and undertakings in which the company has a participating interest

 

302,720

219,964

Taxation and social security

 

15,178

18,374

Other creditors

 

106,405

165,790

 

424,303

412,736