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COMPANY REGISTRATION NUMBER: 07741331
SIMEL LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
28 February 2025
SIMEL LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2025
CONTENTS
PAGE
Statement of financial position
1
Notes to the financial statements
3
SIMEL LIMITED
STATEMENT OF FINANCIAL POSITION
28 February 2025
2025
2024
Note
£
£
FIXED ASSETS
Tangible assets
3
45,610
60,450
Investments
4
2
2
----------
----------
45,612
60,452
CURRENT ASSETS
Debtors
5
7,001
36,030
Cash at bank and in hand
37,009
38,381
----------
----------
44,010
74,411
CREDITORS: amounts falling due within one year
6
9,800
44,292
----------
----------
NET CURRENT ASSETS
34,210
30,119
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
79,822
90,571
CREDITORS: amounts falling due after more than one year
7
21,674
26,683
----------
----------
NET ASSETS
58,148
63,888
----------
----------
SIMEL LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
28 February 2025
2025
2024
Note
£
£
CAPITAL AND RESERVES
Called up share capital
1
1
Capital redemption reserve
1
1
Profit and loss account
58,146
63,886
----------
----------
SHAREHOLDERS FUNDS
58,148
63,888
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 August 2025 , and are signed on behalf of the board by:
Mr S Calver
Director
Company registration number: 07741331
SIMEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2025
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Onega House, 112 Main Road, Sidcup, Kent, DA14 6NE, United Kingdom.
2. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
10% straight line
Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
3. TANGIBLE ASSETS
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 March 2024 and 28 February 2025
166,104
527
166,631
-----------
-----
-----------
Depreciation
At 1 March 2024
105,654
527
106,181
Charge for the year
14,840
14,840
-----------
-----
-----------
At 28 February 2025
120,494
527
121,021
-----------
-----
-----------
Carrying amount
At 28 February 2025
45,610
45,610
-----------
-----
-----------
At 29 February 2024
60,450
60,450
-----------
-----
-----------
4. INVESTMENTS
Other investments other than loans
£
Cost
At 1 March 2024 and 28 February 2025
2
-----
Impairment
At 1 March 2024 and 28 February 2025
-----
Carrying amount
At 28 February 2025
2
-----
At 29 February 2024
2
-----
5. DEBTORS
2025
2024
£
£
Other debtors
7,001
36,030
--------
----------
6. CREDITORS: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
5,000
4,992
Other creditors
4,800
39,300
--------
----------
9,800
44,292
--------
----------
7. CREDITORS: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
21,674
26,683
----------
----------
8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the directors did not enter into any advances, credits or guarantees with the company.