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REGISTERED NUMBER: SC349645 (Scotland)















Unaudited Financial Statements

for the Period 1 April 2023 to 30 September 2024

for

Simply Ship Limited

Simply Ship Limited (Registered number: SC349645)






Contents of the Financial Statements
for the Period 1 April 2023 to 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Simply Ship Limited

Company Information
for the Period 1 April 2023 to 30 September 2024







DIRECTORS: N M Laing
J A Ross





REGISTERED OFFICE: Peterkins
100 Union Street
Aberdeen
AB10 1QR





REGISTERED NUMBER: SC349645 (Scotland)





ACCOUNTANTS: KPP Glasgow South Ltd
Chartered Certified Accountants
Unit 3 , 37 Rosyth Road
Morris Park
Glasgow
G5 0YE

Simply Ship Limited (Registered number: SC349645)

Balance Sheet
30 September 2024

30.9.24 31.3.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 16,578 24,511

CURRENT ASSETS
Stocks 5 15,834 15,250
Debtors 6 56,166 50,660
Cash in hand 500 500
72,500 66,410
CREDITORS
Amounts falling due within one year 7 75,427 66,083
NET CURRENT (LIABILITIES)/ASSETS (2,927 ) 327
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,651

24,838

CREDITORS
Amounts falling due after more than one
year

8

13,649

23,411
NET ASSETS 2 1,427

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings - 1,425
SHAREHOLDERS' FUNDS 2 1,427

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

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

The directors acknowledge their 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.

Simply Ship Limited (Registered number: SC349645)

Balance Sheet - continued
30 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2025 and were signed on its behalf by:





N M Laing - Director


Simply Ship Limited (Registered number: SC349645)

Notes to the Financial Statements
for the Period 1 April 2023 to 30 September 2024

1. STATUTORY INFORMATION

Simply Ship Limited is a private company, limited by shares , registered in Scotland. 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 20% on reducing balance

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

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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 and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Simply Ship Limited (Registered number: SC349645)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 September 2024

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023
and 30 September 2024 25,000 61,050 86,050
DEPRECIATION
At 1 April 2023 17,264 44,275 61,539
Charge for period 2,901 5,032 7,933
At 30 September 2024 20,165 49,307 69,472
NET BOOK VALUE
At 30 September 2024 4,835 11,743 16,578
At 31 March 2023 7,736 16,775 24,511

5. STOCKS
30.9.24 31.3.23
£    £   
Stocks 15,834 15,250

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 31.3.23
£    £   
Trade debtors 34,280 47,710
Directors' current accounts 11,787 -
VAT 10,099 2,950
56,166 50,660

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 31.3.23
£    £   
Bank loans and overdrafts 19,617 19,193
Trade creditors 31,342 18,999
Tax 9,626 5,002
Social security and other taxes 836 378
Funding circle loan 10,063 17,939
Accrued expenses 3,943 4,572
75,427 66,083

Simply Ship Limited (Registered number: SC349645)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 September 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 31.3.23
£    £   
Bank loan 13,649 23,411

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 31.3.23
value: £    £   
2 Ordinary £1 2 2