Company registration number 09241302 (England and Wales)
SIMPLY COLLECT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SIMPLY COLLECT LTD
COMPANY INFORMATION
Directors
Mr M Line
Mr D Thorp
Company number
09241302
Registered office
Belgrade Business Centre
Denington Road
Wellingborough
Northamptonshire
UK
NN8 2QH
Accountants
McShane Wright
2 College Street
Higham Ferrers
UK
NN10 8DZ
SIMPLY COLLECT LTD
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 5
SIMPLY COLLECT LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,525
5,054
Current assets
Debtors
16,127
2,650
Cash at bank and in hand
182,745
208,289
198,872
210,939
Creditors: amounts falling due within one year
(85,975)
(71,070)
Net current assets
112,897
139,869
Total assets less current liabilities
116,422
144,923
Creditors: amounts falling due after more than one year
(10,000)
(20,000)
Net assets
106,422
124,923
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
106,421
124,922
Total equity
106,422
124,923
SIMPLY COLLECT LTD
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -

For the financial year ended 30 September 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 directors acknowledge their 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.

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

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

The financial statements were approved by the board of directors and authorised for issue on 26 June 2025 and are signed on its behalf by:
Mr M Line
Mr D Thorp
Director
Director
Company registration number 09241302 (England and Wales)
SIMPLY COLLECT LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 October 2022
1
52,179
52,180
Year ended 30 September 2023:
Profit and total comprehensive income for the year
-
134,968
134,968
Dividends
-
(62,225)
(62,225)
Balance at 30 September 2023
1
124,922
124,923
Year ended 30 September 2024:
Profit and total comprehensive income for the year
-
148,099
148,099
Dividends
-
(166,600)
(166,600)
Balance at 30 September 2024
1
106,421
106,422
SIMPLY COLLECT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
1
Accounting policies
Company information

Simply Collect Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Belgrade Business Centre, Denington Road, Wellingborough, Northamptonshire, UK, NN8 2QH.

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

1.2
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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
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:

Plant and equipment
33% on cost
1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

SIMPLY COLLECT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

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

2024
2023
Number
Number
Total
4
4
3
Tangible fixed assets
Total
£
Cost
At 1 October 2023
7,145
Additions
601
At 30 September 2024
7,746
Depreciation and impairment
At 1 October 2023
2,091
Depreciation charged in the year
2,130
At 30 September 2024
4,221
Carrying amount
At 30 September 2024
3,525
At 30 September 2023
5,054
5
Related party transactions

The company is controlled by MJ Line and D Thorp who are sole shareholders.

 

During the year total dividends of £166,600 were paid to the directors.

 

At the year end the company owed MJ Line £4,533 (2023 - £Nil) and owed D Thorp £4,519 (2023 - £19l).

 

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