| SIMRIT DEVELOPMENT LTD |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
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|
| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
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| 3 |
Tangible fixed assets |
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Land and buildings |
| £ |
|
Cost |
|
At 1 April 2024 |
11,796,608 |
|
Additions |
8,418,951 |
|
At 31 March 2025 |
20,215,559 |
|
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Depreciation |
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At 31 March 2025 |
- |
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Net book value |
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At 31 March 2025 |
20,215,559 |
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At 31 March 2024 |
11,796,608 |
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| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Other debtors |
18,570 |
|
58,641 |
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| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
8,482,245 |
|
6,331,316 |
|
Taxation and social security costs |
(35,205) |
|
- |
|
Other creditors |
11,802,200 |
|
5,541,572 |
|
|
|
|
|
|
20,249,240 |
|
11,872,888 |
|
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|
|
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Other creditors includes bridging loan of £5,572,083 (2023: £2,295,444) due payable within 12 months. This loan has been secured against the freehold properties owned by the company. |
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| 6 |
Related party transactions |
2025 |
|
2024 |
| £ |
£ |
|
|
M R Construction Ltd |
|
Common director |
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Included within other debtor is an amount receivable of: |
- |
|
40,071 |
|
|
BCL Group Ltd |
|
Common director |
|
Included within group undertakings is an amount payable of: |
4,213,745 |
|
3,055,316 |
|
|
Pharmadent Holdings Ltd |
|
Common director |
|
Included within group undertakings is an amount payable of: |
3,576,000 |
|
3,276,000 |
|
|
Pinewood House Property Ltd |
|
Common director |
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Included within other debtors is an amount receivable of: |
200 |
|
200 |
|
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| 7 |
Controlling party |
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The company is under the joint control of its shareholders BCL Group Ltd and Pharmadent
Holdings Ltd |
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| 8 |
Other information |
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SIMRIT DEVELOPMENT LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
Unit 9, Hounslow Business Park |
|
Alice Way |
|
Hounslow |
|
Middlesex |
|
TW3 3UD |