Simco Energy Management Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03083009 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SIMCO ENERGY MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A E Simonian

Dr G O Simonian

REGISTERED OFFICE:

Suite B, 30 Barnes High Street

Barnes

London

SW13 9LW

REGISTERED NUMBER:

03083009 (England and Wales)

ACCOUNTANTS:

Hovnan & Co Ltd

Chartered Accountants

106 Ashurst Road

Cockfosters

London

EN4 9LG

FIXED ASSETS

Tangible assets

4

7,152

8,654

CURRENT ASSETS

Debtors

5

53,243

58,243

Cash at bank

447

17,499

53,690

75,742

CREDITORS

Amounts falling due within one year

6

61,890

62,283

NET CURRENT (LIABILITIES)/ASSETS

(8,200

)

13,459

TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,048

)

22,113

CREDITORS

Amounts falling due after more than one year

7

(2,960

)

(12,109

)

PROVISIONS FOR LIABILITIES

(1,359

)

(1,531

)

NET (LIABILITIES)/ASSETS

(5,367

)

8,473

CAPITAL AND RESERVES

Called up share capital

121,000

Retained earnings

(126,367

)

(112,527

)

SHAREHOLDERS' FUNDS

(5,367

)

8,473

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

A E Simonian - Director

1.	STATUTORY INFORMATION

Simco Energy Management 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.	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 25% on reducing balance

All fixed assets are initially recorded at cost.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in nonconvertible

preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 January 2024

and 31 December 2024

58,087

90,254

148,341

DEPRECIATION

At 1 January 2024

53,914

85,773

139,687

Charge for year

1,043

459

1,502

At 31 December 2024

54,957

86,232

141,189

NET BOOK VALUE

At 31 December 2024

3,130

4,022

7,152

At 31 December 2023

4,173

4,481

8,654

5.

DEBTORS

31.12.24

31.12.23

£

Amounts falling due within one year:

Trade debtors

792

Other debtors

39,134

44,134

39,926

44,926

Amounts falling due after more than one year:

Other debtors

13,317

Aggregate amounts

53,243

58,243

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts (see note 8)

10,000

Trade creditors

45,020

44,843

Taxation and social security

594

790

Other creditors

6,276

6,650

61,890

62,283

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans (see note 8)

2,960

12,109

8.

LOANS

Bank loan is unsecured and is for a term of 6 years. Interest at the rate of 2.5% is payable after the first year.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.12.24

31.12.23

£

Dr G O Simonian

Balance outstanding at start of year

8,182

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

8,182

A E Simonian

Balance outstanding at start of year

35,952

38,952

Amounts repaid

(5,000

)

(3,000

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

30,952

35,952

The balances owed by the directors are repayable on demand and non-interest bearing.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr G O Simonian.