Simoda Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Simoda Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11917151 . The registered office is The Maltings, 81 Burton Road, Sheffield, S3 8BZ.

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.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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:

Leasehold	5 Years Straight Line
Motor Vehicles	4 Years Straight Line
Fixtures & Fittings	3 Years Straight Line
Computer Equipment	3 Years Straight Line and 33% Reducing Balance

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Financial Instruments

Debtors and creditors with no stated interest rate, and repayable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit or loss account within overheads.

2.6. 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.

2.7. 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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Simoda Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.7. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.9. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 42 (2024: 37)

4. Tangible Assets

	Land & Property
	Leasehold	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 October 2024	27,396	89,203	25,198	46,470	188,267
Additions	3,169	-	-	17,043	20,212
Disposals	-	(31,390 )	-	(975 )	(32,365 )

As at 30 September 2025	30,565	57,813	25,198	62,538	176,114

Depreciation
As at 1 October 2024	4,506	23,403	14,137	32,700	74,746
Provided during the period	5,743	14,453	5,384	11,528	37,108
Disposals	-	(9,147 )	-	(975 )	(10,122 )

As at 30 September 2025	10,249	28,709	19,521	43,253	101,732

Net Book Value
As at 30 September 2025	20,316	29,104	5,677	19,285	74,382

As at 1 October 2024	22,890	65,800	11,061	13,770	113,521

5. Stocks

	2025	2024
	£	£
Stock	17,500	17,500

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Simoda Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,786,162	1,260,619
Other debtors	584,808	66,089

	2,370,970	1,326,708

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	2,714,878	812,428
Bank loans and overdrafts	5,556	5,556
Taxation and social security	111,572	43,872
VAT	134,237	322,408
Other creditors	47,349	289,955
Accruals and deferred income	205,199	306,425

	3,218,791	1,780,644

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

	2025	2024
	£	£
Bank loans	20,367	25,926

9. Deferred Taxation

	2025	2024
	£	£
Other timing differences	18,595	28,380

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

The prior-year comparative disclosure has been updated to include previously omitted lease commitment information. There is no impact on prior-year reported amounts

	2025	2024
	£	£
Not later than one year	121,007	58,000
Later than one year and not later than five years	216,391	169,167

	337,398	227,167

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Simoda Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

12. Directors Advances, Credits and Guarantees

Included within Other Debtors are the following loans to directors:

	As at 1 October 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 30 September 2025
	£	£	£	£	£
Mr Daniel Bumby	5,288	291,103	(5,288 )	-	291,103
Mr John Delamore	-	49,211	-	-	49,211
Mr Lee Wragg	1,000	36,882	(1,000 )	-	36,882

The above loans are unsecured, accrue interest and repayable on demand.

13. Related Party Transactions

Included within Other Debtors are loans to related parties amounting to £377,195 (2024: £6,288). These loans, are unsecured, accrue interest and repayable on demand. Included within Other Creditors are loans from related parties amounting to £Nil (2024:£9,588). These loans are unsecured, interest free and repayable on demand.

14. Ultimate Controlling Party

The company's ultimate controlling party is Simoda Group Limited by virtue of it's ownership of 100% of the issued share capital in the company.

15. Security

Santander UK PLC holds a fixed and floating charge over the assets of the company as security for all amounts owing to it, including bank loans and overdraft facilities

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		74,382		113,521

			74,382		113,521
CURRENT ASSETS
Stocks	5	17,500		17,500
Debtors	6	2,370,970		1,326,708
Cash at bank and in hand		995,067		465,109

		3,383,537		1,809,317
Creditors: Amounts Falling Due Within One Year	7	(3,218,791 )		(1,780,644 )

NET CURRENT ASSETS (LIABILITIES)			164,746		28,673

TOTAL ASSETS LESS CURRENT LIABILITIES			239,128		142,194

Creditors: Amounts Falling Due After More Than One Year	8		(20,367 )		(25,926 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	9		(18,595 )		(28,380 )

NET ASSETS			200,166		87,888

CAPITAL AND RESERVES
Called up share capital	10		100		100
Profit and Loss Account			200,066		87,788

SHAREHOLDERS' FUNDS			200,166		87,888