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Company registration number:
02320198
Simplex Ltd
Unaudited Filleted Financial Statements for the year ended
31 December 2025
Simplex Ltd
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Simplex Ltd
Year ended
31 December 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
Simplex Ltd
for the year ended
31 December 2025
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
Simplex Ltd
, as a body, in accordance with the terms of our engagement letter dated 6 March 2019. Our work has been undertaken solely to prepare for your approval the
financial statements
of
Simplex Ltd
and state those matters that we have agreed to state to the Board of Directors of
Simplex Ltd
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Simplex Ltd
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
Simplex Ltd
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Simplex Ltd
. You consider that
Simplex Ltd
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Simplex Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Binks Chartered Accountants
84 Manor Road
Lancing
West Sussex
BN15 0HD
United Kingdom
Date:
6 March 2026
Simplex Ltd
Statement of Financial Position
31 December 2025
20252024
Note££
Fixed assets    
Tangible assets 5
54,177
 
60,160
 
Current assets    
Stocks
74,492
 
35,902
 
Debtors 6
138,574
 
116,440
 
Cash at bank and in hand
117,927
 
140,741
 
330,993
 
293,083
 
Creditors: amounts falling due within one year 7
(130,071
 )
(89,394
 )
Net current assets
200,922
 
203,689
 
Total assets less current liabilities 255,099   263,849  
Creditors: amounts falling due after more than one year 8
(73,664
 )
(100,061
 )
Net assets
181,435
 
163,788
 
Capital and reserves    
Called up share capital
1,000
 
1,000
 
Profit and loss account
180,435
 
162,788
 
Shareholders funds
181,435
 
163,788
 
For the year ending
31 December 2025
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
6 March 2026
, and are signed on behalf of the board by:
Mr CA Thorne
Director
Company registration number:
02320198
Simplex Ltd
Notes to the Financial Statements
Year ended
31 December 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
84 Manor Road
,
Lancing
,
West Sussex
,
BN15 0HD
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Transition to FRS 102

The company transitioned from FRS 105 to FRS 102 as at 1 January 2024. The transition has not affected the reported financial position and financial performance of the company.
FRS 102 was previously applied to the year ended 31 December 2022. Transition was then made to FRS 105 as the entity met the criteria for applying that standard. Transition back to FRS 102 has now been made as the entity no longer meets the criteria for applying FRS 105. Section 35 of FRS 102 has been applied in making this transition.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
20% reducing balance
Fixtures and fittings
20% reducing balance
Motor vehicles
25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
8
(2024:
9.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 January 2025
242,771
 
Additions
7,310
 
At
31 December 2025
250,081
 
Depreciation  
At
1 January 2025
182,611
 
Charge
13,293
 
At
31 December 2025
195,904
 
Carrying amount  
At
31 December 2025
54,177
 
At 31 December 2024
60,160
 

6 Debtors

20252024
££
Trade debtors
81,333
 
63,531
 
Amounts owed by group undertakings and undertakings in which the company has a participating interest
36,055
 
36,055
 
Other debtors
21,186
 
16,854
 
138,574
 
116,440
 

7 Creditors: amounts falling due within one year

20252024
££
Bank loans and overdrafts
5,556
 
5,556
 
Trade creditors
43,793
 
29,453
 
Taxation and social security
46,496
 
28,071
 
Other creditors
34,226
 
26,314
 
130,071
 
89,394
 

8 Creditors: amounts falling due after more than one year

20252024
££
Bank loans and overdrafts
20,833
 
26,389
 
Other creditors
52,831
 
73,672
 
73,664
 
100,061