Company Registration No. 12691659 (England and Wales)
SIMPLIFYD SYSTEMS LIMITED
Unaudited accounts
for the year ended 31 December 2024
SIMPLIFYD SYSTEMS LIMITED
Unaudited accounts
Contents
SIMPLIFYD SYSTEMS LIMITED
Company Information
for the year ended 31 December 2024
Director
Oluwatomi Timothy Amao
Company Number
12691659 (England and Wales)
Registered Office
13 Victoria Close
Welwyn Garden City
AL7 4EL
England
Accountants
Olaando Consulting Ltd
7 Bell Yard
London
WC2A 2JR
SIMPLIFYD SYSTEMS LIMITED
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
127
23,363
Creditors: amounts falling due within one year
(42,935)
(45,864)
Net current assets
76,873
69,230
Total assets less current liabilities
76,873
70,683
Creditors: amounts falling due after more than one year
(598,960)
(453,718)
Net liabilities
(522,087)
(383,035)
Called up share capital
100
100
Profit and loss account
(522,187)
(383,135)
Shareholders' funds
(522,087)
(383,035)
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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 September 2025 and were signed on its behalf by
Oluwatomi Timothy Amao
Director
Company Registration No. 12691659
SIMPLIFYD SYSTEMS LIMITED
Notes to the Accounts
for the year ended 31 December 2024
SIMPLIFYD SYSTEMS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12691659. The registered office is 13 Victoria Close, Welwyn Garden City, AL7 4EL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% Straight line
4
Tangible fixed assets
Computer equipment
SIMPLIFYD SYSTEMS LIMITED
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
Accrued income and prepayments
-
750
Other debtors
35,100
35,100
Amounts falling due after more than one year
Other debtors
84,581
55,881
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
7,486
10,415
Other creditors
35,449
35,449
£35,449 is an investment from a US based investor.
7
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
598,960
453,718
£598,960 (Previous Year: £453,718) is a loan from the shareholders. This loan is to fund working capital until the company's cash flow situation improves.
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).