Company No:
Contents
| Note | 2024 | 2023 | ||
| € | € | |||
| Fixed assets | ||||
| Tangible assets | 3 |
|
|
|
| Investments | 4 |
|
|
|
| 7,771 | 12,128 | |||
| Current assets | ||||
| Debtors | 5 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 715,597 | 264,040 | |||
| Creditors: amounts falling due within one year | 6 | (
|
(
|
|
| Net current liabilities | (71,107) | (649,159) | ||
| Total assets less current liabilities | (63,336) | (637,031) | ||
| Net liabilities | (
|
(
|
||
| Capital and reserves | ||||
| Called-up share capital | 7 |
|
|
|
| Profit and loss account | (
|
(
|
||
| Total shareholder's deficit | (
|
(
|
Director's responsibilities:
The financial statements of Simbolo Holdings Limited (registered number:
|
D K Ehrlich
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Simbolo Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is First Floor, 5 Fleet Place, London, EC4M 7RD, United Kingdom.
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
The financial statements are presented in EUR which is the functional currency of the Company and rounded to the nearest €.
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
| Plant and machinery etc. |
|
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the income statement.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.
Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.
Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
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.
Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the company during the year, including the director |
|
|
| Plant and machinery etc. | Total | ||
| € | € | ||
| Cost | |||
| At 01 November 2023 |
|
|
|
|
|
|
||
| At 31 October 2024 |
|
|
|
| Accumulated depreciation | |||
| At 01 November 2023 |
|
|
|
| Charge for the financial year |
|
|
|
| At 31 October 2024 |
|
|
|
| Net book value | |||
| At 31 October 2024 |
|
|
|
| At 31 October 2023 |
|
|
| 2024 | 2023 | ||
| € | € | ||
| Subsidiary undertakings |
|
|
|
| Participating interests |
|
|
|
| 95 | 91 |
Investments in subsidiaries
| 2024 | |
| € | |
| Cost | |
| At 01 November 2023 |
|
| At 31 October 2024 |
|
| Carrying value at 31 October 2024 |
|
| Carrying value at 31 October 2023 |
|
| Investments in joint ventures | Total | ||
| € | € | ||
| Cost or valuation before impairment | |||
| At 01 November 2023 |
|
|
|
| Additions |
|
|
|
| At 31 October 2024 |
|
|
|
| Carrying value at 31 October 2024 |
|
|
|
| Carrying value at 31 October 2023 |
|
|
| 2024 | 2023 | ||
| € | € | ||
| Amounts owed by group undertakings |
|
|
|
| Other debtors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| € | € | ||
| Trade creditors |
|
|
|
| Taxation and social security |
|
|
|
| Other creditors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| € | € | ||
| Allotted, called-up and fully-paid | |||
|
|
|
|