REGISTERED NUMBER: 08550796 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 DECEMBER 2024

FOR

SIM ENGINEERING & PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

I Cassiano

REGISTERED OFFICE:

C/O Thompson Taraz Rand

Suite 20, New Cambridge House

Bassingbourn Road

Litlington

Cambridgeshire

SG8 0SS

BUSINESS ADDRESS:

Office No 113 1010

Cambourne Business Centre

Cambourne

Cambridge

Cambridgeshire

CB23 6DP

REGISTERED NUMBER:

08550796 (England and Wales)

ACCOUNTANTS:

Thompson Taraz Rand Ltd

Chartered Accountants

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

FIXED ASSETS

Investments

5

88,072

88,072

CURRENT ASSETS

Debtors

6

2,332,142

2,532,528

Cash at bank

3,499

10,180

2,335,641

2,542,708

CREDITORS

Amounts falling due within one year

7

(406,681

)

(253,720

)

NET CURRENT ASSETS

1,928,960

2,288,988

TOTAL ASSETS LESS CURRENT LIABILITIES

2,017,032

2,377,060

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

2,017,030

2,377,058

SHAREHOLDERS' FUNDS

2,017,032

2,377,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 August 2025 and were signed by:

I Cassiano - Director

1.	STATUTORY INFORMATION

Sim Engineering & Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Sim Engineering & Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Financial instruments

Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Fixed asset investments

Fixed asset investments held as fixed asset investments are shown at cost less provisions for impairment.

4.	EMPLOYEES AND DIRECTORS

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

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST OR VALUATION

At 30 December 2023

and 29 December 2024

86,676

1,396

88,072

NET BOOK VALUE

At 29 December 2024

86,676

1,396

88,072

At 29 December 2023

86,676

1,396

88,072

Cost or valuation at 29 December 2024 is represented by:

Shares in

group

Other

undertakings

investments

Totals

£

£

£

Valuation in 2019

-

(3,649

)

(3,649

)

Valuation in 2020

-

(5,086

)

(5,086

)

Valuation in 2022

-

(20,909

)

(20,909

)

Cost

86,676

31,040

117,716

86,676

1,396

88,072

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

117,716

117,716

Other investments were valued on an open market basis on 29 December 2024 by the Director .

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

93

93

Amounts owed by group undertakings

32,155

79,481

Other debtors

1,270

1

33,518

79,575

Amounts falling due after more than one year:

Other debtors

2,298,624

2,452,953

Aggregate amounts

2,332,142

2,532,528

Amounts owed by group undertakings are unsecured, non-interest bearing and repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

384

-

Other creditors

406,297

253,720

406,681

253,720

Amounts owed to group undertakings are unsecured, non-interest bearing and repayable on demand.

8.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal value:

2022

2023

51

Ordinary A

1 pence

51p

51p

49

Ordinary B

1 pence

49p

49p

It should be noted in the Balance Sheet that due to the need to round up amounts in the accounts, that this has resulted in the share capital in the balance sheet being overstated by £1, as each individual class of shares is rounded up to £1 even though their total combined value is £1.

The actual allotted and issued total share capital is of £1 made up of the shares as detailed above.

9.	RELATED PARTY DISCLOSURES

During the year, the Company was charged £200,000 (2023: £nil) by a company in which Sim Engineering & Properties Limited holds a participating interest. The charge relates to management and consultancy services received during the year.

At the balance sheet date, the amount payable of £200,000 (2023: £nil) is included within accruals and is due within one year.

10.	RELATED PARTY DISCLOSURES

Share purchase:

In a previous financial year SIM Engineering & Properties Limited bought the entire issued share capital of Catef SRL which was owned by Mr I Cassiano and Mr F Cassiano.

The agreed consideration for Mr F Cassiano's shares was €1,061,918. At the year-end Mr F Cassiano was owed €241,814 (2023: €287,154). The amount owed is disclosed within 'Other Creditors'.

Amount due to group and related companies:

At the balance sheet date the company was owed £32,154 (2023: £79,481) from group and related companies. The amount bears no interest and is disclosed within other creditors.

Amounts due from group and related companies:

At the balance sheet date the company was owed £2,298,624 (2023: £2,452,953) from group and related companies. The amount is disclosed as £nil (2023: £nil) due in less than one year and £2,298,624 (2023: £2,452,953) due in more than one year.

Bad debts:

Post year end a group company filed for liquidation. The balance due has therefore been entered in to account as a bad debt at the year end. The amount written off is £46,987.