SIMPORTEX LIMITED - Filleted accounts

Registered number

00826063

SIMPORTEX LIMITED

Filleted Accounts

31 December 2024

SIMPORTEX LIMITED
Registered number:		00826063
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		53,058			54,375
Investments	4		100			100
			53,158			54,475

Current assets
Stocks		64,657			64,528
Debtors	5	80,130			78,986
Cash at bank and in hand		1,852			2,613
		146,639			146,127

Creditors: amounts falling due within one year	6	(136,128)			(123,328)

Net current assets			10,511			22,799

Total assets less current liabilities			63,669			77,274

Creditors: amounts falling due after more than one year	7		(50,049)			(50,049)



Net assets			13,620			27,225

Capital and reserves
Called up share capital			250,000			250,000
Profit and loss account			(236,380)			(222,775)

Shareholders' funds			13,620			27,225

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




A K Singhania
Director
Approved by the board on 22 September 2025

SIMPORTEX LIMITED
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Going concern
	These financial statements are prepared on a going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the forseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern. The company incurred a net loss of £13,605 (2023: £29,194) during the year ended 31 December 2024, the net current asset position at the year-end was £10,511 (2023: £22,799).

	The above suggests that the going concern basis may not be appropriate however, the directors (who are the shareholders as well) have given assurances that they will continue to provide support to the company to allow it to continue in operation for the forseeable future.

	The directors therefore consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of this support.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures, fittings, tools and equipment	2 - 10% on cost

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees		2024		2023
Number				Number

	Average number of persons employed by the company		4		4


3	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 January 2024				102,427
	Disposals				(35,591)
	At 31 December 2024				66,836

	Depreciation
	At 1 January 2024				48,052
	Charge for the year				1,317
	On disposals				(35,591)
	At 31 December 2024				13,778

	Net book value
	At 31 December 2024				53,058
	At 31 December 2023				54,375


4	Investments

Other
investments
£
	Cost
	At 1 January 2024				100

	At 31 December 2024				100


5	Debtors		2024		2023
£				£

	Trade debtors		79,186		77,848
	Other debtors		944		1,138
			80,130		78,986


6	Creditors: amounts falling due within one year		2024		2023
£				£

	Trade creditors		13,647		3,662
	Other creditors		122,481		119,666
			136,128		123,328


7	Creditors: amounts falling due after one year		2024		2023
£				£

	Other creditors		50,049		50,049


8	Related party transactions

	At the balance sheet date the company owes £50,049 (2023: £50,049) to its directors.


9	Controlling party

	Mr V N Singhania and Ms G D Singhania own 86% of the share capital and are the company's ultimate controlling parties.


10	Other information

	SIMPORTEX LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	12 Queens Way
	London
	NW4 2TN