IRIS Accounts Production v25.1.4.42 13668414 Board of Directors 1.12.23 30.11.24 30.11.24 4.8.2025 0 0 false true true false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh136684142023-11-30136684142024-11-30136684142023-12-012024-11-30136684142022-11-30136684142022-12-012023-11-30136684142023-11-3013668414ns15:EnglandWales2023-12-012024-11-3013668414ns14:PoundSterling2023-12-012024-11-3013668414ns10:Director12023-12-012024-11-3013668414ns10:PrivateLimitedCompanyLtd2023-12-012024-11-3013668414ns10:SmallEntities2023-12-012024-11-3013668414ns10:Audited2023-12-012024-11-3013668414ns10:SmallCompaniesRegimeForDirectorsReport2023-12-012024-11-3013668414ns10:SmallCompaniesRegimeForAccounts2023-12-012024-11-3013668414ns10:FullAccounts2023-12-012024-11-3013668414ns10:OrdinaryShareClass12023-12-012024-11-3013668414ns10:Director22023-12-012024-11-3013668414ns10:RegisteredOffice2023-12-012024-11-3013668414ns5:CurrentFinancialInstruments2024-11-3013668414ns5:CurrentFinancialInstruments2023-11-3013668414ns5:ShareCapital2024-11-3013668414ns5:ShareCapital2023-11-3013668414ns5:RetainedEarningsAccumulatedLosses2024-11-3013668414ns5:RetainedEarningsAccumulatedLosses2023-11-3013668414ns5:LandBuildings2023-12-012024-11-3013668414ns5:PlantMachinery2023-12-012024-11-3013668414ns5:LandBuildings2023-11-3013668414ns5:PlantMachinery2023-11-3013668414ns5:LandBuildings2024-11-3013668414ns5:PlantMachinery2024-11-3013668414ns5:LandBuildings2023-11-3013668414ns5:PlantMachinery2023-11-3013668414ns5:WithinOneYearns5:CurrentFinancialInstruments2024-11-3013668414ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-3013668414ns10:OrdinaryShareClass12024-11-30
REGISTERED NUMBER: 13668414 (England and Wales)















Report of the Directors and

Financial Statements for the Year Ended 30 November 2024

for

Simwood Futures Limited

Simwood Futures Limited (Registered number: 13668414)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 4


Simwood Futures Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: S P Woodhead
C R Chance





REGISTERED OFFICE: Simwood House
Cube M4 Business Park
Bristol
Gloucestershire
BS16 1FX





REGISTERED NUMBER: 13668414 (England and Wales)





AUDITORS: Haines Watts Wolverhampton Limited
Statutory Auditors
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

Simwood Futures Limited (Registered number: 13668414)

Report of the Directors
for the Year Ended 30 November 2024

The directors present their report with the financial statements of the company for the year ended 30 November 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of a treasury function within the group of companies to which it belongs. It's primary 'trade' is the buying, selling and mining of digital currencies.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 December 2023 to the date of this report.

S P Woodhead
C R Chance

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S P Woodhead - Director


4 August 2025

Simwood Futures Limited (Registered number: 13668414)

Balance Sheet
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 141,075 172,736

CURRENT ASSETS
Stocks 275,969 159,214
Debtors 5 11,259 4,615
Cash at bank 53 18,716
287,281 182,545
CREDITORS
Amounts falling due within one year 6 180,518 62,862
NET CURRENT ASSETS 106,763 119,683
TOTAL ASSETS LESS CURRENT
LIABILITIES

247,838

292,419

PROVISIONS FOR LIABILITIES 32,955 -
NET ASSETS 214,883 292,419

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 214,783 292,319
SHAREHOLDERS' FUNDS 214,883 292,419

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 August 2025 and were signed on its behalf by:





S P Woodhead - Director


Simwood Futures Limited (Registered number: 13668414)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Simwood Futures Limited 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.

Related party exemption
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.

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

Under Item 1, Group 5, Schedule 9 of the Value Added Tax Act 1994 the turnover derived from the sale of digital assets from which the company generates its turnover is exempt from VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - at variable rates on reducing balance
Plant and machinery etc - 25% on cost and 10% on reducing balance

Stocks
As at the period end date the company holds an assortment of digital cryptocurrencies. This holding is deemed to be held for the purpose of trade on the basis of regular trading, as a result it is being treated as a current asset within stock.

In accordance with FRS 102 section 13.3, on the basis that this stock is readily realisable and the group is operating in an active market where sale can be achieved at published prices, this stock is being held at Fair Value.

Any gain or loss recognised at the year end date on this holding is treated for taxation purposes on a deferred basis with actual taxation being recognised on crystalisation when the sale and purchase of the various currencies take place.

Taxation
Taxation for the year 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.


Simwood Futures Limited (Registered number: 13668414)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2023
and 30 November 2024 68,564 155,108 223,672
DEPRECIATION
At 1 December 2023 12,191 38,745 50,936
Charge for year 8,764 22,897 31,661
At 30 November 2024 20,955 61,642 82,597
NET BOOK VALUE
At 30 November 2024 47,609 93,466 141,075
At 30 November 2023 56,373 116,363 172,736

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 6,560 -
Other debtors 4,699 4,615
11,259 4,615

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 13,702 50,690
Amounts owed to group undertakings 165,451 12,172
Taxation and social security 1,365 -
180,518 62,862

Simwood Futures Limited (Registered number: 13668414)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Baker FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts Wolverhampton Limited

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Loans made to directors

As at the year end date an amount outstanding due to the company from a Director totalled £nil (2023 - £1,560. The loan was interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The directors regard Simwood Group PLC, a company registered in England and Wales, as the ultimate parent undertaking. S Woodhead is considered to be the ultimate controlling party by virtue of his controlling interest in the share capital of the ultimate parent undertaking.