REGISTERED NUMBER: 06728544 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2024

for

Simworx Ventures Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T J Monkton

A W Roberts

B P Daniels

SECRETARY:

T J Monkton

REGISTERED OFFICE:

37 Second Avenue

The Pensnett Trading Estate

Kingswinford

West Midlands

DY6 7UL

REGISTERED NUMBER:

06728544 (England and Wales)

ACCOUNTANTS:

Rice & Co Limited

Chartered Accountants

14a Market Place

Uttoxeter

Staffordshire

ST14 8HP

CURRENT ASSETS

Debtors

7

2,500

124,696

Cash at bank

550

42,914

3,050

167,610

CREDITORS

Amounts falling due within one year

8

166,149

161,898

NET CURRENT (LIABILITIES)/ASSETS

(163,099

)

5,712

TOTAL ASSETS LESS CURRENT LIABILITIES

(163,099

)

5,712

PROVISIONS FOR LIABILITIES

10,000

-

NET (LIABILITIES)/ASSETS

(173,099

)

5,712

CAPITAL AND RESERVES

Called up share capital

2,077

2,077

Share premium

31,807

31,807

Capital redemption reserve

1,201

1,201

Retained earnings

(208,184

)

(29,373

)

SHAREHOLDERS' FUNDS

(173,099

)

5,712

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th June 2026 and were signed on its behalf by:

T J Monkton - Director

1.	STATUTORY INFORMATION

Simworx Ventures Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

After the end of the financial year but prior to the date of approval of these financial statements, the company has registered a notice of intention to appoint administrators and is extremely unlikely to be able to continue as a going concern. Accordingly, the financial statements have been prepared on a basis other than going concern. Where applicable, fixed and current assets have been restated to recoverable amounts.

Turnover

Turnover represents income from operation of entertainment attractions, excluding value added tax. Turnover is recognised when a customer uses an attraction.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Entertainment equipment - 20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2024

and 31st December 2024

13,163

AMORTISATION

At 1st January 2024

and 31st December 2024

13,163

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

-

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

and 31st December 2024

293,000

DEPRECIATION

At 1st January 2024

and 31st December 2024

293,000

NET BOOK VALUE

At 31st December 2024

-

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

-

112,492

Other debtors

2,500

12,204

2,500

124,696

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

153,598

153,598

Taxation and social security

4,051

-

Other creditors

8,500

8,300

166,149

161,898

9.	CONTINGENT LIABILITIES

The company has provided guarantees over creditors of Media Based Attractions Limited, the company's parent undertaking, amounting to £2,416,000 (2023 - £2,666,000) and creditors of Simworx Limited, a fellow subsidiary undertaking of Media Based Attractions Limited, amounting to £63,147 (2023 - £297,140).

10.	POST BALANCE SHEET EVENTS

As disclosed in note 3 to the financial statements, after the end of the financial year but prior to the date of approval of these financial statements, the company has registered a notice of intention to appoint administrators and is extremely unlikely to be able to continue as a going concern. Accordingly, the financial statements have been prepared on a basis other than going concern.

11.	PARENT AND ULTIMATE PARENT COMPANY

The company's parent and ultimate parent undertaking is Media Based Attractions Limited, a company registered in England and Wales. Consolidated financial statements are prepared for the group controlled by Media Based Attractions Limited and that company's registered office is 37 Second Avenue, The Pensnett Estate, Kingswinford, West Midlands DY6 7UL.