Simudyne Holdings Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—3

Registered number: 10405794

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investments	4		14,820,683		14,820,683

			14,820,683		14,820,683
CURRENT ASSETS
Debtors	5	3,568		-
Cash at bank and in hand		2,833		13,216

		6,401		13,216
NET CURRENT ASSETS (LIABILITIES)			6,401		13,216

TOTAL ASSETS LESS CURRENT LIABILITIES			14,827,084		14,833,899

Creditors: Amounts Falling Due After More Than One Year	6		(1,438,381 )		(1,395,121 )

NET ASSETS			13,388,703		13,438,778

CAPITAL AND RESERVES
Called up share capital	7		9,572,654		9,572,655
Share premium account			5,003,520		5,003,520
Other reserves			158,916		158,916
Profit and Loss Account			(1,346,387 )		(1,296,313 )

SHAREHOLDERS' FUNDS			13,388,703		13,438,778

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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Justin Lyon

Director

15/05/2025

The notes on pages 2 to 3 form part of these financial statements.

1. General Information

Simudyne Holdings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10405794 . The registered office is 125 Wood Street, London, EC2V 7AW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, no amortisation is recognised in the financial statements on the basis that it would be immaterial from the group's perspective.

2.4. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.5. Change in Consolidation Approach

In previous years, the company prepared consolidated financial statements in accordance with FRS 102 Section 9. However, for the financial year ended 31 December 2023, the company has elected not to prepare group accounts and has instead presented these financial statements on a single-entity basis.

The decision is in compliance with FRS 102 Section 9.3, which allows an entity to prepare separate financial statements where consolidation is not required.

Impact of the Change:

The results and financial position of subsidiaries are no longer consolidated. The prior year figures have been restated/presented on a comparable basis to reflect the move to single-entity accounts where necessary.

This change does not affect the company’s financial performance or position except for the change in accounting treatment of subsidiaries.

2.6. Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment. Included within cost of investment in subsidiaries are amounts arising from the hive-up and transfer of trade and assets between former group entities and capital contributions made by the parent company.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 2)

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Simudyne Holdings Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Investments

	Unlisted
	£
Cost
As at 1 January 2024	14,820,683

As at 31 December 2024	14,820,683

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	14,820,683

As at 1 January 2024	14,820,683

5. Debtors

	2024	2023
	£	£
Due within one year
Amounts owed by group undertakings	3,568	-

6. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Corporate Loan	494,795	451,535
Convertible Loan Notes	943,586	943,586

	1,438,381	1,395,121

7. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
763,351,200 Ordinary Shares of £ 0.01 each	7,633,512	7,633,513
94,802,700 Series A Voting shares of £ 0.01 each	948,027	948,027
99,111,500 Series A Non-Voting shares of £ 0.01 each	991,115	991,115

	9,572,654	9,572,655

8. Reserves

Share options reserve

The share option reserve relates to the fair value of the options granted which has been charged to profit or loss over the vesting period of the options and related taxation (if any) recognised in equity

9. Share based payments

The company operates both approved and unapproved Enterprise Management Incentive ("EMI") schemes. The number of shares subject to options at the year end are 154,950,000 (31 December 2022 - 154,950,000) the weighted average exercise price as at the year end was £0.01 (31 December 2022 - £0.01).

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