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Simpila Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09992062
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 34,387 39,622
34,387 39,622
CURRENT ASSETS
Debtors 5 115,061 20,174
Cash at bank and in hand 5,428 15,406
120,489 35,580
Creditors: Amounts Falling Due Within One Year 6 (99,557 ) (53,724 )
NET CURRENT ASSETS (LIABILITIES) 20,932 (18,144 )
TOTAL ASSETS LESS CURRENT LIABILITIES 55,319 21,478
Creditors: Amounts Falling Due After More Than One Year 7 (47,772 ) (13,796 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,528 ) (7,528 )
NET ASSETS 19 154
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (81 ) 54
SHAREHOLDERS' FUNDS 19 154
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For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
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 Matthew Holman
Director
2 December 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Simpila Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09992062 . The registered office is 8 Fulmar Close, Basingstoke, Hampshire, RG22 5JR.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% on reducing balance
Motor Vehicles 15% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 5)
4 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2024 17,881 44,490 62,371
Additions 1,070 - 1,070
As at 31 March 2025 18,951 44,490 63,441
Depreciation
As at 1 April 2024 10,403 12,346 22,749
Provided during the period 1,483 4,822 6,305
As at 31 March 2025 11,886 17,168 29,054
Net Book Value
As at 31 March 2025 7,065 27,322 34,387
As at 1 April 2024 7,478 32,144 39,622
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 56,364 16,943
Prepayments and accrued income 783 687
Other debtors - 2,544
Director's loan account 57,914 -
115,061 20,174
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6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 10,347 10,347
Trade creditors 535 -
Bank loans and overdrafts 10,050 -
Corporation tax 14,540 6,501
Other taxes and social security 2,073 4,223
VAT 13,512 12,809
Other creditors 401 722
Accruals and deferred income 48,099 19,122
99,557 53,724
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 3,449 13,796
Bank loans 44,323 -
47,772 13,796
8. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,347 10,347
Later than one year and not later than five years 3,449 13,796
13,796 24,143
13,796 24,143
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mr Matthew Holman 2,544 55,370 - - 57,914
The above loan is unsecured, interest free and repayable on demand.
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