SIMS REED LIMITED Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01391116

SIMS REED LIMITED

Filleted Unaudited Financial Statements

31 December 2024

SIMS REED LIMITED

Financial Statements

Year ended 31 December 2024

Contents	Page

Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

SIMS REED LIMITED

Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of SIMS REED LIMITED

Year ended 31 December 2024

As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 December 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

WHITEFIELD & CO Chartered Certified Accountants

8 Wolsey Mansions Main Avenue Moor Park HA6 2HL

23 September 2025

SIMS REED LIMITED

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		900	19,843

Current assets

Stocks		1,728,000	1,882,672
Debtors	6	391,088	844,404
Cash at bank and in hand		7,532	2,444
		------------	------------
		2,126,620	2,729,520

Creditors: amounts falling due within one year	7	1,871,352		2,145,947
		------------		------------
Net current assets			255,268	583,573
			---------	---------
Total assets less current liabilities			256,168	603,416

Creditors: amounts falling due after more than one year	8		–	216,967

Provisions

Taxation including deferred tax	171	9,238
	---------	---------
Net assets	255,997	377,211
	---------	---------

Capital and reserves

Called up share capital	28,215	28,215
Share premium account	153,300	153,300
Profit and loss account	74,482	195,696
	---------	---------
Shareholder funds	255,997	377,211
	---------	---------

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 statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has 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 .

SIMS REED LIMITED

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 23 September 2025 , and are signed on behalf of the board by:

Mr Max Reed
Director

Company registration number: 01391116

SIMS REED LIMITED

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 Wolsey Mansions, Main Avenue, Moor Park, Middlesex, HA6 2HL.

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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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:

Motor Vehicles	-	25% reducing balance
Motor Vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).

4. Tax on loss

Major components of tax (income)/expense

	2024	2023
	£	£

Deferred tax:

Origination and reversal of timing differences	( 9,067)	2,312
	-------	-------
Tax on loss	( 9,067)	2,312
	-------	-------

5. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2024	1	162,392	44,900	207,293
Disposals	–	–	( 44,900)	( 44,900)
	----	---------	--------	---------
At 31 December 2024	1	162,392	–	162,393
	----	---------	--------	---------
Depreciation
At 1 January 2024	–	161,493	25,957	187,450
Disposals	–	–	( 25,957)	( 25,957)
	----	---------	--------	---------
At 31 December 2024	–	161,493	–	161,493
	----	---------	--------	---------
Carrying amount
At 31 December 2024	1	899	–	900
	----	---------	--------	---------
At 31 December 2023	1	899	18,943	19,843
	----	---------	--------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	348,900	766,909
Other debtors	42,188	77,495
	---------	---------
	391,088	844,404
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	44,389	349,696
Trade creditors	268,974	629,468
Corporation tax	87,949	89,949
Social security and other taxes	78,903	112,053
Other creditors	1,391,137	964,781
	------------	------------
	1,871,352	2,145,947
	------------	------------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	–	192,291
Other creditors	–	24,676
	----	---------
	–	216,967
	----	---------

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions	171	9,238
	----	-------

10. Related party transactions

The company was under the control of Mr Max Reed throughout the current and previous year. Mr Reed is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.