Simp Business Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10836674

Simp Business Limited

Filleted Unaudited Financial Statements

30 June 2025

Simp Business Limited

Financial Statements

Year ended 30 June 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Simp Business Limited

Statement of Financial Position

30 June 2025

	2025	2024
		(restated)
Note	£	£

Fixed assets

Tangible assets	5	209	1,165

Current assets

Debtors	6	1,896	8,203
Cash at bank and in hand		72	2,213
		-------	--------
		1,968	10,416

Creditors: amounts falling due within one year	7	3,247	1,350
		-------	--------
Net current (liabilities)/assets		( 1,279)	9,066
		-------	--------
Total assets less current liabilities		( 1,070)	10,231
		-------	--------
Net (liabilities)/assets		( 1,070)	10,231
		-------	--------

Capital and reserves

Profit and loss account	( 1,070)	10,231
	-------	--------
Shareholders (deficit)/funds	( 1,070)	10,231
	-------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Simp Business Limited

Statement of Financial Position (continued)

30 June 2025

These financial statements were approved by the board of directors and authorised for issue on 14 September 2026 , and are signed on behalf of the board by:

Mr A Hayek

Director

Company registration number: 10836674

Simp Business Limited

Notes to the Financial Statements

Year ended 30 June 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15 Bute Road, Barkingside, Essex, IG6 1AF, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared under the going concern basis as the directors have confirmed that they will continue to support the company for the next 12 months.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	20% straight line
Equipment	-	33% straight line

Impairment of fixed assets

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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 July 2024 (as restated) and 30 June 2025	4,782	3,662	8,444
	-------	-------	-------
Depreciation
At 1 July 2024	3,617	3,662	7,279
Charge for the year	956	–	956
	-------	-------	-------
At 30 June 2025	4,573	3,662	8,235
	-------	-------	-------
Carrying amount
At 30 June 2025	209	–	209
	-------	-------	-------
At 30 June 2024	1,165	–	1,165
	-------	-------	-------

6. Debtors

	2025	2024
		(restated)
	£	£
Other debtors	1,896	8,203
	-------	-------

7. Creditors: amounts falling due within one year

	2025	2024
		(restated)
	£	£
Corporation tax	1,896	–
Other creditors	1,351	1,350
	-------	-------
	3,247	1,350
	-------	-------

8. Share capital

At the year end the company had called up share capital with the value of £0.02 (2023: £0.02).

Due to the financial statements being presented to the nearest whole pound, and the aggregate nominal value of share capital totalling £0.02, share capital has not been presented within the statement of financial position.

9. Prior period errors

It has been identified that in the prior two periods, there have been some bank transactions omitted from the accounts. The adjustment to correct these errors has had the following effects on the financial statements:

	Previously Reported	Adjustment	Restated
	£	£	£
Cash at bank	48,380	(46,167)	2,213
Directors Loan Account	(15,506)	21,125	5,619
Corporation Tax Liability	5,915	(5,293)	622
Sales	–	(11,645)	(11,645)
Other Creditors	(4,550)	4,550	–
Administrative Expenses	3,806	35,534	39,340
Other Debtors	–	1,896	1,896
Loss before tax	2,746	23,889	26,635
Net Assets	34,120	(23,889)	10,231

10. Directors' advances, credits and guarantees

At the year end the company owed a director £1 (2024: a director owed the company £2,809). During the year advances of £nil (2024: £25,913) were made to the director and repayments of £2,810 (2024: £15,350) were made by the director. No interest was charged on the loan. At the year end the company owed a director £nil (2024: a director owed the company £2,810). During the year advances of £nil (2024: £25,913) were made to the director and repayments of £2,810 (2024: £15,350) were made by the director. No interest was charged on the loan.