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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH APRIL 2020 |
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SIMON HOLDEN ASSOCIATES LTD |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH APRIL 2020 |
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FOR |
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SIMON HOLDEN ASSOCIATES LTD |
SIMON HOLDEN ASSOCIATES LTD (REGISTERED NUMBER: 09546681) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2020 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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SIMON HOLDEN ASSOCIATES LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH APRIL 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
47 Calthorpe Road |
Edgbaston |
BIRMINGHAM |
B15 1TH |
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INCORPORATED: |
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SIMON HOLDEN ASSOCIATES LTD (REGISTERED NUMBER: 09546681) |
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ABRIDGED BALANCE SHEET |
30TH APRIL 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
6 |
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( |
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PROVISIONS FOR LIABILITIES | 8 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Undistributable revenue reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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SIMON HOLDEN ASSOCIATES LTD (REGISTERED NUMBER: 09546681) |
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ABRIDGED BALANCE SHEET - continued |
30TH APRIL 2020 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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SIMON HOLDEN ASSOCIATES LTD (REGISTERED NUMBER: 09546681) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2020 |
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1. | STATUTORY INFORMATION |
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Simon Holden Associates Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the rental income due for the year. |
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Tangible fixed assets |
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Computer equipment - 25% straight line |
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Investment property |
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise. |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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SIMON HOLDEN ASSOCIATES LTD (REGISTERED NUMBER: 09546681) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2020 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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Creditors |
Short term trade 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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2019 - NIL). |
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st May 2019 |
and 30th April 2020 |
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DEPRECIATION |
At 1st May 2019 |
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Charge for year |
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At 30th April 2020 |
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NET BOOK VALUE |
At 30th April 2020 |
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At 30th April 2019 |
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SIMON HOLDEN ASSOCIATES LTD (REGISTERED NUMBER: 09546681) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2020 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1st May 2019 |
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Revaluations | 3,542 |
Exchange rate differences |
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At 30th April 2020 |
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NET BOOK VALUE |
At 30th April 2020 |
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At 30th April 2019 |
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Fair value at 30th April 2020 is represented by: |
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Valuation in 2019 | 64,198 |
Valuation in 2020 | 18,604 |
Cost | 272,443 |
355,245 |
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In the directors' opinion the current carrying value of the investment property purchased in October 2018 is reflective of the current market value. Other investment property was revalued in 2019 and in the directors' opinion it is reflective of the current market value. |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
FIVE YEARS |
2020 | 2019 |
£ | £ |
Repayable otherwise than by instalments |
Loans due after 5 years |
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7. | SECURED DEBTS |
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There is a fixed charge against the investment property in relation to the bank loan obtained to finance the acquisition. |
SIMON HOLDEN ASSOCIATES LTD (REGISTERED NUMBER: 09546681) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2020 |
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8. | PROVISIONS FOR LIABILITIES |
2020 | 2019 |
£ | £ |
Deferred tax | 11,005 | 7,301 |
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Deferred |
tax |
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Balance at 1st May 2019 |
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Movement during the year | 3,704 |
Balance at 30th April 2020 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary A | £1 | 75 | 75 |
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Ordinary B | £1 | 25 | 25 |
100 | 100 |
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10. | RELATED PARTY DISCLOSURES |
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At the year end the amount due to the directors totalled £128,219. The loan is interest free and repayable on demand. |