REGISTERED NUMBER: 07891829 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SIMILE LOGICS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr S Polovina

Ms C Carrington-Windo

Miss L I Polovina

REGISTERED OFFICE:

30-34 North Street

Hailsham

East Sussex

BN27 1DW

REGISTERED NUMBER:

07891829 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Limited

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Tangible assets

4

2,535

2,728

CURRENT ASSETS

Debtors

5

21,133

11,692

Cash at bank

13

2,334

21,146

14,026

CREDITORS

Amounts falling due within one year

6

(16,008

)

(8,214

)

NET CURRENT ASSETS

5,138

5,812

TOTAL ASSETS LESS CURRENT LIABILITIES

7,673

8,540

CREDITORS

Amounts falling due after more than one year

7

(6,267

)

(7,562

)

PROVISIONS FOR LIABILITIES

(482

)

(518

)

NET ASSETS

924

460

CAPITAL AND RESERVES

Called up share capital

9

200

200

Retained earnings

724

260

SHAREHOLDERS' FUNDS

924

460

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2025 and were signed on its behalf by:

Dr S Polovina - Director

1.	STATUTORY INFORMATION

Simile Logics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 15% on reducing balance

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

145

14,725

14,870

Additions

-

1,448

1,448

At 31 December 2024

145

16,173

16,318

DEPRECIATION

At 1 January 2024

22

12,120

12,142

Charge for year

18

1,623

1,641

At 31 December 2024

40

13,743

13,783

NET BOOK VALUE

At 31 December 2024

105

2,430

2,535

At 31 December 2023

123

2,605

2,728

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

7,792

6,367

Directors' current accounts

13,341

5,325

21,133

11,692

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other loans

1,297

1,424

Trade creditors

1,836

588

Tax

12,263

5,614

Accrued expenses

612

588

16,008

8,214

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other loans - 1-2 years

1,297

1,296

Other loans - 2-5 years

3,890

3,889

Other loans more 5yrs instal

1,080

2,377

6,267

7,562

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

1,080

2,377

8.	FINANCIAL INSTRUMENTS

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an 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.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

102

Ordinary A

£1

102

102

49

Ordinary B

£1

88

88

10

Ordinary C

£1

10

10

200

200

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Dr S Polovina and Ms C Carrington-Windo

Balance outstanding at start of year

5,325

8,168

Amounts advanced

60,939

45,944

Amounts repaid

(52,924

)

(48,787

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

13,340

5,325