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REGISTERED NUMBER: 09048314 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH SEPTEMBER 2024

FOR

SIMPLE DESIGN WORKS LTD

SIMPLE DESIGN WORKS LTD (REGISTERED NUMBER: 09048314)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


SIMPLE DESIGN WORKS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







Director: KD Shivachev





Registered office: County House
St. Marys Street
Worcester
WR1 1HB





Registered number: 09048314 (England and Wales)

SIMPLE DESIGN WORKS LTD (REGISTERED NUMBER: 09048314)

BALANCE SHEET
30TH SEPTEMBER 2024

30.9.24 30.9.23
Notes £ £ £ £
Fixed assets
Tangible assets 4 - 200

Current assets
Stocks 5 962 2,996
Debtors 6 76,004 59,384
Cash at bank and in hand 5 618
76,971 62,998
Creditors
Amounts falling due within one year 7 200,795 195,859
Net current liabilities (123,824 ) (132,861 )
Total assets less current liabilities (123,824 ) (132,661 )

Creditors
Amounts falling due after more than one
year

8

87,108

104,167
Net liabilities (210,932 ) (236,828 )

Capital and reserves
Called up share capital 10 100 100
Retained earnings (211,032 ) (236,928 )
Shareholders' funds (210,932 ) (236,828 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SIMPLE DESIGN WORKS LTD (REGISTERED NUMBER: 09048314)

BALANCE SHEET - continued
30TH SEPTEMBER 2024


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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 17th June 2025 and were signed by:





KD Shivachev - Director


SIMPLE DESIGN WORKS LTD (REGISTERED NUMBER: 09048314)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


1. Statutory information

Simple Design Works Ltd is a private company, limited by shares , registered in England and Wales. 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.

The balance sheet at the year end shows net liabilities of £210,932 which include amounts owed by related parties of £6,333. The director considers that the company is able to meet its obligations as they fall due and confirms that he will continue to support the company. Therefore he considers it appropriate to adopt the going concern basis in preparing these accounts.

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

Tangible fixed assets
Tangible fixed assets are stated in the Balance Sheet at cost less depreciation.
Depreciation is provided at the following rates, on the straight line method, in order to write off each asset over its estimated useful life;

Office equipment 20 %

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

SIMPLE DESIGN WORKS LTD (REGISTERED NUMBER: 09048314)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducing all of its liabilities.
Basic financial liabilities, including trade and other payables are measured at the transaction price.

SIMPLE DESIGN WORKS LTD (REGISTERED NUMBER: 09048314)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


2. Accounting policies - continued
Other financial liabilities, including bank loans and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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.

Research & development
Expenditure on research and development is written off in the year in which it is incurred.


Pension costs
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period in which they arise.

SIMPLE DESIGN WORKS LTD (REGISTERED NUMBER: 09048314)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


2. Accounting policies - continued

Work in progress
Work in progress has been valued as a percentage of the full contract value according to the level of completion. At the year end the work in progress value is treated as turnover in the profit and loss account and included within debtors in the balance sheet. Any income that has been invoiced in advance, prior to a stage commencing/completion, are deferred on a stage completion basis. At the year end the deferred income is treated as sales and is disclosed within other creditors in the balance sheet.

Operating leases
The cost of operating leases is charged to the profit and loss account on a straight line basis over
the lease term.

3. Employees (including officers)

The average number of employees during the year was 12 (2023 - 13 ) .

4. Tangible fixed assets
Computer
equipment
£
Cost
At 1st October 2023
and 30th September 2024 1,000
Depreciation
At 1st October 2023 800
Charge for year 200
At 30th September 2024 1,000
Net book value
At 30th September 2024 -
At 30th September 2023 200

5. Stocks
30.9.24 30.9.23
£ £
Stocks 962 2,996

SIMPLE DESIGN WORKS LTD (REGISTERED NUMBER: 09048314)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


6. Debtors: amounts falling due within one year
30.9.24 30.9.23
£ £
Amounts owed by group undertakings 6,333 18,237
Trade debtors 55,348 12,972
Other debtors 571 1,100
Corporation tax - 6,033
Prepayments 13,752 21,042
76,004 59,384

7. Creditors: amounts falling due within one year
30.9.24 30.9.23
£ £
Bank loan 38,780 29,089
Trade creditors 19,805 21,947
Social security & other tax 62,297 45,914
Accruals & deferred income 79,913 98,909
200,795 195,859

8. Creditors: amounts falling due after more than one year
30.9.24 30.9.23
£ £
Bank loans two to five years 87,108 104,167

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.9.24 30.9.23
£ £
Within one year 12,750 12,750
Between one and five years 51,000 51,000
In more than five years 12,750 25,500
76,500 89,250

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £ £
100 Ordinary shares £1 100 100

SIMPLE DESIGN WORKS LTD (REGISTERED NUMBER: 09048314)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


11. Contingent liabilities

There were no contingent liabilities at 30th September 2024.

12. Related party disclosures

Simple Design Works Group Ltd

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.



13. Controlling party

The company is a wholly owned subsidiary of Simple Design Works Group Ltd.

Company registration number: 11594963
Company registered office address: Office 2
Aubrey Street
Hereford
HR4 0BU