4 5 Simpson Technology Ltd 09582051 false 2023-06-01 2024-11-30 2024-11-30 The principal activity of the company is the sale of metal working machinery. Digita Accounts Production Advanced 6.30.9574.0 true 09582051 2023-06-01 2024-11-30 09582051 2024-11-30 09582051 bus:OrdinaryShareClass1 2024-11-30 09582051 core:CurrentFinancialInstruments 2024-11-30 09582051 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 09582051 core:Non-currentFinancialInstruments 2024-11-30 09582051 core:Non-currentFinancialInstruments core:AfterOneYear 2024-11-30 09582051 core:FurnitureFittingsToolsEquipment 2024-11-30 09582051 core:MotorVehicles 2024-11-30 09582051 core:OtherPropertyPlantEquipment 2024-11-30 09582051 bus:SmallEntities 2023-06-01 2024-11-30 09582051 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-11-30 09582051 bus:FilletedAccounts 2023-06-01 2024-11-30 09582051 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-11-30 09582051 bus:RegisteredOffice 2023-06-01 2024-11-30 09582051 bus:CompanySecretaryDirector1 2023-06-01 2024-11-30 09582051 bus:Director1 2023-06-01 2024-11-30 09582051 bus:OrdinaryShareClass1 2023-06-01 2024-11-30 09582051 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-11-30 09582051 core:ComputerEquipment 2023-06-01 2024-11-30 09582051 core:FurnitureFittings 2023-06-01 2024-11-30 09582051 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-11-30 09582051 core:MotorCars 2023-06-01 2024-11-30 09582051 core:MotorVehicles 2023-06-01 2024-11-30 09582051 core:OtherPropertyPlantEquipment 2023-06-01 2024-11-30 09582051 core:PlantMachinery 2023-06-01 2024-11-30 09582051 countries:AllCountries 2023-06-01 2024-11-30 09582051 2023-05-31 09582051 core:FurnitureFittingsToolsEquipment 2023-05-31 09582051 core:MotorVehicles 2023-05-31 09582051 core:OtherPropertyPlantEquipment 2023-05-31 09582051 2022-06-01 2023-05-31 09582051 2023-05-31 09582051 bus:OrdinaryShareClass1 2023-05-31 09582051 core:CurrentFinancialInstruments 2023-05-31 09582051 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 09582051 core:Non-currentFinancialInstruments 2023-05-31 09582051 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 09582051 core:FurnitureFittingsToolsEquipment 2023-05-31 09582051 core:MotorVehicles 2023-05-31 09582051 core:OtherPropertyPlantEquipment 2023-05-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 09582051

Simpson Technology Ltd

Unaudited Filleted Financial Statements

for the Period from 1 June 2023 to 30 November 2024

 

Simpson Technology Ltd

(Registration number: 09582051)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

105,042

125,200

Current assets

 

Stocks

5

209,000

34,000

Debtors

6

235,546

518,322

Cash at bank and in hand

 

73,529

52,295

 

518,075

604,617

Creditors: Amounts falling due within one year

7

(705,969)

(667,137)

Net current liabilities

 

(187,894)

(62,520)

Total assets less current liabilities

 

(82,852)

62,680

Creditors: Amounts falling due after more than one year

7

(56,967)

(105,045)

Provisions for liabilities

2,232

2,232

Net liabilities

 

(137,587)

(40,133)

Capital and reserves

 

Called up share capital

8

4

4

Retained earnings

(137,591)

(40,137)

Shareholders' deficit

 

(137,587)

(40,133)

For the financial period ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 August 2025 and signed on its behalf by:
 

 

Simpson Technology Ltd

(Registration number: 09582051)
Balance Sheet as at 30 November 2024

.........................................
Mrs A Simpson
Director

.........................................
Mr S Simpson
Company secretary and director

 

Simpson Technology Ltd

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Southgate Centre Two
321 Wilmslow Road
Heald Green
SK8 3PW

These financial statements were authorised for issue by the Board on 11 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Simpson Technology Ltd

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 30 November 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25% straight line

Computer Equipment

25% straight line

Motor Vehicles

10% straight line

Plant & Machinery

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Simpson Technology Ltd

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 30 November 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4 (2023 - 5).

 

Simpson Technology Ltd

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 30 November 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2023

19,299

177,069

2,217

198,585

At 30 November 2024

19,299

177,069

2,217

198,585

Depreciation

At 1 June 2023

16,451

55,825

1,108

73,384

Charge for the period

1,897

17,707

555

20,159

At 30 November 2024

18,348

73,532

1,663

93,543

Carrying amount

At 30 November 2024

951

103,537

554

105,042

At 31 May 2023

2,847

121,244

1,109

125,200

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

34,000

34,000

Other inventories

175,000

-

209,000

34,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

64,523

428,512

Other debtors

171,023

89,810

 

235,546

518,322

7

Creditors

Creditors: amounts falling due within one year

 

Simpson Technology Ltd

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 30 November 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

159,410

236,998

Trade creditors

 

241,229

146,837

Taxation and social security

 

75,716

124,085

Accruals and deferred income

 

159,782

159,150

Other creditors

 

69,832

67

 

705,969

667,137

 

Simpson Technology Ltd

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 30 November 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

56,967

105,045

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary £1.00 Shares of £1 each

4

4

4

4

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,000

53,785

Other borrowings

44,967

51,260

56,967

105,045

Current loans and borrowings

2024
£

2023
£

Bank borrowings

24,699

50,430

Bank overdrafts

-

46,368

Other borrowings

134,711

140,200

159,410

236,998

10

Dividends

2024

2023

£

£

Final dividend of £Nil (2023 - £Nil) per ordinary share

-

-

Interim dividend of £Nil (2023 - £Nil) per ordinary share

150,000

14,500

150,000

14,500

 

 

11

Related party transactions

 

Simpson Technology Ltd

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 30 November 2024

Directors' remuneration

The directors' remuneration for the period was as follows:

2024
£

2023
£

Remuneration

30,280

19,008

12

Transition to FRS 102

Balance Sheet at 1 June 2022
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

Simpson Technology Ltd

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 30 November 2024

Balance Sheet at 31 May 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-