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REGISTERED NUMBER: 11594963 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH SEPTEMBER 2024

FOR

SIMPLE DESIGN WORKS GROUP LTD

SIMPLE DESIGN WORKS GROUP LTD (REGISTERED NUMBER: 11594963)

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 GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







Director: KD Shivachev





Registered office: Office 2
32 Aubrey Street
Hereford
Herefordshire
HR4 0BU





Registered number: 11594963 (England and Wales)

SIMPLE DESIGN WORKS GROUP LTD (REGISTERED NUMBER: 11594963)

BALANCE SHEET
30TH SEPTEMBER 2024

30.9.24 30.9.23
Notes £ £ £ £
Fixed assets
Intangible assets 4 2,263 2,263
Tangible assets 5 52,634 73,648
Investments 6 100 100
54,997 76,011

Current assets
Debtors 7 5,281 5,332
Cash at bank 3,000 3,003
8,281 8,335
Creditors
Amounts falling due within one year 8 37,531 45,493
Net current liabilities (29,250 ) (37,158 )
Total assets less current liabilities 25,747 38,853

Creditors
Amounts falling due after more than one
year

9

(12,402

)

(25,932

)

Provisions for liabilities 11 (5,400 ) (5,300 )
Net assets 7,945 7,621

SIMPLE DESIGN WORKS GROUP LTD (REGISTERED NUMBER: 11594963)

BALANCE SHEET - continued
30TH SEPTEMBER 2024

30.9.24 30.9.23
Notes £ £ £ £
Capital and reserves
Called up share capital 12 200 200
Retained earnings 7,745 7,421
Shareholders' funds 7,945 7,621

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.

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 GROUP LTD (REGISTERED NUMBER: 11594963)

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


1. Statutory information

Simple Design Works Group 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.

Preparation of consolidated financial statements
The financial statements contain information about Simple Design Works Group Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are stated in the Balance Sheet at cost less depreciation.
Depreciation is provided to write off the cost of fixed assets over their estimated useful lives at the
following rates:

Plant & machinery20% SL

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

SIMPLE DESIGN WORKS GROUP LTD (REGISTERED NUMBER: 11594963)

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 when the group transfers the financial asset and substantially all of the risks and rewards of the ownership to another entity, 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 group after deducing all of its liabilities.
Basic financial liabilities, including trade and other payables are measured at the transaction price.

SIMPLE DESIGN WORKS GROUP LTD (REGISTERED NUMBER: 11594963)

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


2. Accounting policies - continued
Other financial liabilities, including bank loans, loans from fellow group companies 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 group'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.

Hire purchase & leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Fixed asset investment
Fixed asset investments are stated at historical cost less provision for any diminution in value.

SIMPLE DESIGN WORKS GROUP LTD (REGISTERED NUMBER: 11594963)

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


3. Employees (including officers)

The average number of employees during the year was 1 (2023 - 1 ) .

4. Intangible fixed assets
Other
intangible
assets
£
Cost
At 1st October 2023
and 30th September 2024 2,263
Net book value
At 30th September 2024 2,263
At 30th September 2023 2,263

5. Tangible fixed assets
Plant &
equipment
£
Cost
At 1st October 2023 137,622
Additions 6,538
Disposals (44,400 )
At 30th September 2024 99,760
Depreciation
At 1st October 2023 63,974
Charge for year 19,952
Eliminated on disposal (36,800 )
At 30th September 2024 47,126
Net book value
At 30th September 2024 52,634
At 30th September 2023 73,648

The net book value of tangible fixed assets includes £ 32,471 (2023 - £ 40,589 ) in respect of assets held under hire purchase contracts.

SIMPLE DESIGN WORKS GROUP LTD (REGISTERED NUMBER: 11594963)

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


6. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1st October 2023
and 30th September 2024 100
Net book value
At 30th September 2024 100
At 30th September 2023 100

The company's investments at the Balance sheet date in the share capital of companies include the
following:
Simple Design Works Ltd
Registered office: County House, St Marys Street, Worcester, England, WR1 1HB.
Nature of business: Product design consultancy

% holding % holding
100 100
Year ended Year ended
30.09.24 30.09.23
£ £
Aggregate capital & reserves (210,932) (236,828 )



7. Debtors: amounts falling due within one year
30.9.24 30.9.23
£ £
Other debtors & prepayments 5,281 615
VAT - 4,717
5,281 5,332

SIMPLE DESIGN WORKS GROUP LTD (REGISTERED NUMBER: 11594963)

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


8. Creditors: amounts falling due within one year
30.9.24 30.9.23
£ £
Hire purchase contracts (see note 10) 13,530 13,530
Trade creditors 2,880 4,821
Amounts owed to group undertakings 6,333 18,237
Social security & other tax 6,994 4,162
Director's loan account 7,794 4,743
37,531 45,493

9. Creditors: amounts falling due after more than one year
30.9.24 30.9.23
£ £
Hire purchase contracts (see note 10) 12,402 25,932

10. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.24 30.9.23
£ £
Net obligations repayable:
Within one year 13,530 13,530
Between one and five years 12,402 25,932
25,932 39,462

Non-cancellable
operating leases
30.9.24 30.9.23
£ £
Within one year 24,000 1,845

11. Provisions for liabilities
30.9.24 30.9.23
£ £
Deferred tax 5,400 5,300

SIMPLE DESIGN WORKS GROUP LTD (REGISTERED NUMBER: 11594963)

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


11. Provisions for liabilities - continued

Deferred tax
£
Balance at 1st October 2023 5,300
Provided during year 100
Balance at 30th September 2024 5,400

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £ £
200 Ordinary shares £1 200 200

13. Contingent liabilities

There were no contingent liabilities at 30th September 2024.

14. Director's advances, credits and guarantees

During the year, the director used a current account with the company to record amounts due to him and amounts drawn by him. The balance at the year end was £7,794, owed by the company (2023: £4,743).

15. Related party disclosures

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.