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Registered number: 12882612 IT'S SO SIMPLE LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2025
IT'S SO SIMPLE LIMITED REGISTERED NUMBER: 12882612 STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 12,185 |  | 68,135
|  |  | 12,185 |  | 68,135
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 5,167 |  | 15,453 |
Cash at bank and in hand | 6 | 45,861 |  | 38,020 |
|  | 51,028 |  | 53,473 |
Creditors: amounts falling due within one year | 7 | (63,185) |  | (66,097) |
Net current liabilities |  |  | (12,157) |  | (12,624)
Total assets less current liabilities |  |  | 28 |  | 55,511
Creditors: amounts falling due after more than one year | 8 |  | - |  | (6,546)
Net assets |  |  | 28 |  | 48,965
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 2 |  | 2
Profit and loss account |  |  | 26 |  | 48,963
|  |  | 28 |  | 48,965
Page 1
IT'S SO SIMPLE LIMITED REGISTERED NUMBER: 12882612 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
D D Sacerdoti
Director
Date: 31 December 2025
The notes on pages 3 to 7 form part of these financial statements. Page 2
IT'S SO SIMPLE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
It's So Simple Limited is a private company, limited by shares, registered in England and Wales, registration number 12882612. The registered office is 101 New Cavendish Street, 1st Floor South, London, England, W1W 6XH. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.4 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds. Page 3
IT'S SO SIMPLE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.5 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 20% | Straight line method
|  |  |  | Motor vehicles | - | 20% | Straight line method
|  |  |  | Fixtures and fittings | - | 20% | Straight line method
|  |  |  | Office equipment | - | 20% | Straight line method
|  |  |  | Computer equipment | - | 20% | Straight line method
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 4
IT'S SO SIMPLE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.6 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.7 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.8 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.9 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the year was 6 (2024 - 6).
Page 5
IT'S SO SIMPLE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Fixtures and fittings | Computer equipment | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 April 2024 | 494 | 88,475 | 335 | 22,793 | 112,097
| Additions | - | - | 2,947 | 1,907 | 4,854
| Disposals | - | (88,475) | - | - | (88,475)
| At 31 March 2025 | 494 | - | 3,282 | 24,700 | 28,476
| Depreciation |  |  |  |  |
| At 1 April 2024 | 133 | 32,863 | 93 | 10,872 | 43,961
| Charge for the year on owned assets | 99 | 9,885 | 299 | 4,795 | 15,078
| Disposals | - | (42,748) | - | - | (42,748)
| At 31 March 2025 | 232 | - | 392 | 15,667 | 16,291
| Net book value |  |  |  |  |
| At 31 March 2025 | 262 | - | 2,890 | 9,033 | 12,185
| At 31 March 2024 | 361 | 55,612 | 241 | 11,921 | 68,135
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 1,590 | 3,624
| Other debtors | - | 99
| Prepayments and accrued income | 3,577 | 11,730
|  | 5,167 | 15,453
Page 6
IT'S SO SIMPLE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
6. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 45,861 | 38,020
| Less: bank overdrafts | (4,660) | -
|  | 41,201 | 38,020
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | 4,660 | -
| Trade creditors | 7,727 | 9,279
| Corporation tax | 11,845 | 14,809
| Other taxation and social security | 14,987 | 17,814
| Obligations under finance lease and hire purchase contracts | - | 13,394
| Other creditors | 19,420 | 3,417
| Accruals and deferred income | 4,546 | 7,384
|  | 63,185 | 66,097
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Net obligations under finance leases and hire purchase contracts | - | 6,546
|  | - | 6,546
9. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 (2024 - 1) Ordinary A share of £1.00 | 1 | 1
|  | 1 (2024 - 1) Ordinary B share of £1.00 | 1 | 1
|  |  | 2 | 2
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IT'S SO SIMPLE LIMITED
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