Company registration number 08143174 (England and Wales)
SIMONCHARLESDOTCOM LIMITED
(FORMERLY SIMON CHARLES AUCTIONEERS & VALUERS LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SIMONCHARLESDOTCOM LIMITED
(FORMERLY SIMON CHARLES AUCTIONEERS & VALUERS LIMITED)
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
SIMONCHARLESDOTCOM LIMITED
(FORMERLY SIMON CHARLES AUCTIONEERS & VALUERS LIMITED)
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,053,463
1,191,057
Tangible assets
4
266,363
271,146
1,319,826
1,462,203
Current assets
Debtors
5
1,087,424
1,126,054
Cash at bank and in hand
770,603
467,541
1,858,027
1,593,595
Creditors: amounts falling due within one year
6
(2,060,244)
(2,027,687)
Net current liabilities
(202,217)
(434,092)
Total assets less current liabilities
1,117,609
1,028,111
Creditors: amounts falling due after more than one year
7
(38,766)
(120,695)
Provisions for liabilities
(24,852)
(24,209)
Net assets
1,053,991
883,207
Capital and reserves
Called up share capital
8
300
300
Capital redemption reserve
100
100
Profit and loss reserves
1,053,591
882,807
Total equity
1,053,991
883,207
SIMONCHARLESDOTCOM LIMITED
(FORMERLY SIMON CHARLES AUCTIONEERS & VALUERS LIMITED)
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

For the financial year ended 31 December 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 director acknowledges his 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.

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

The financial statements were approved and signed by the director and authorised for issue on 21 July 2025
S D Rothwell
Director
Company registration number 08143174 (England and Wales)
SIMONCHARLESDOTCOM LIMITED
(FORMERLY SIMON CHARLES AUCTIONEERS & VALUERS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Simoncharlesdotcom Limited is a private company limited by shares incorporated in England and Wales. The registered office is 14 Latham Close, Bredbury Park Industrial Estate, Bredbury, Stockport, SK6 2SD.

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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

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.

1.2
Going concern

The director is not aware of any material uncertainties affecting the company and considers that the company will have sufficient resources to continue trading for the foreseeable future. As a result the director has continued to adopt the going concern basis in preparing the financial statements.true

1.3
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 trade discounts.

1.4
Intangible fixed assets - goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 16 years.

1.5
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:

Land and buildings Leasehold
Not depreciated
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
25% reducing balance

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.

Improvements to rented property are not depreciated on the basis that in the opinion of the director the net realisable value is greater than or equal to cost.

SIMONCHARLESDOTCOM LIMITED
(FORMERLY SIMON CHARLES AUCTIONEERS & VALUERS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

SIMONCHARLESDOTCOM LIMITED
(FORMERLY SIMON CHARLES AUCTIONEERS & VALUERS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.

1.9
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.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

SIMONCHARLESDOTCOM LIMITED
(FORMERLY SIMON CHARLES AUCTIONEERS & VALUERS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -

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
55
67
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
2,761,909
Amortisation and impairment
At 1 January 2024
1,570,852
Amortisation charged for the year
137,594
At 31 December 2024
1,708,446
Carrying amount
At 31 December 2024
1,053,463
At 31 December 2023
1,191,057
SIMONCHARLESDOTCOM LIMITED
(FORMERLY SIMON CHARLES AUCTIONEERS & VALUERS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
152,470
294,966
447,436
Additions
-
0
20,111
20,111
At 31 December 2024
152,470
315,077
467,547
Depreciation and impairment
At 1 January 2024
-
0
176,290
176,290
Depreciation charged in the year
-
0
24,894
24,894
At 31 December 2024
-
0
201,184
201,184
Carrying amount
At 31 December 2024
152,470
113,893
266,363
At 31 December 2023
152,470
118,676
271,146

Tangible fixed assets includes assets held under finance leases or hire purchase contracts, as follows:

 

2024
2023
£
£
Motor vehicles
30,066
40,088
30,066
40,088
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
617,056
545,908
Other debtors
366,177
469,587
Prepayments and accrued income
104,191
110,559
1,087,424
1,126,054

Other debtors includes the following:

- an amount of £366,177 (2023 - £419,587) owed by SSWL Investments Limited, a connected company, which is held on loan account.

 

- an amount of £Nil (2023 - £50,000) owed by Simon Charles Auctioneers Limited, a fellow subsidiary company.

 

 

 

SIMONCHARLESDOTCOM LIMITED
(FORMERLY SIMON CHARLES AUCTIONEERS & VALUERS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
111,288
63,971
Obligations under finance leases
5,987
5,526
Trade creditors
548,542
568,498
Corporation tax
236,564
146,116
Other taxation and social security
161,522
121,874
Other creditors
214,871
185,790
Accruals and deferred income
781,470
935,912
2,060,244
2,027,687

Liabilities in respect of hire purchase and finance lease agreements are secured by a charge over the assets to which they relate.

 

Bank loans and overdrafts represents the amount due in respect of amounts advanced under the Coronavirus Business Interruption Loan Scheme for which no additional security is provided.

 

Other creditors includes an amount of £170,982 (2023 - £171,036) owed to Auction OMS Limited, a connected company, which is held on loan account.

7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
12,296
88,238
Obligations under finance leases
26,470
32,457
38,766
120,695
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
300
300
300
300
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