Company No:
Contents
DIRECTOR | M G Hazell |
REGISTERED OFFICE | Chellington House |
Bridgend | |
Carlton | |
Bedford | |
MK43 7LP | |
United Kingdom | |
COMPANY NUMBER | 03820682(England and Wales) |
CHARTERED ACCOUNTANTS | Bishop Fleming LLP |
16 Queen Square | |
Bristol | |
BS1 4NT |
We are subject to the ethical and other professional requirements of the Institute of Chartered Accountants in England and Wales (ICAEW) which are detailed at _http://www.icaew.com/en/members/regulations-standards-and-guidance/_.
It is your duty to ensure that Simplexity Limited 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 loss of Simplexity Limited. You consider that Simplexity Limited is exempt from the statutory audit requirement for the financial year.
We have not been instructed to carry out an audit or a review of the financial statements of Simplexity Limited. 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.
Chartered Accountants
Bristol
BS1 4NT
2020 | 2019 | |||
Note | £ | £ | ||
Fixed assets | ||||
Tangible assets | 3 |
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0 | 116 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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8,200 | 23,624 | |||
Creditors | ||||
Amounts falling due within one year | 5 | (
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Net current assets | 6,510 | 21,836 | ||
Total assets less current liabilities | 6,510 | 21,952 | ||
Net assets | 6,510 | 21,952 | ||
Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account |
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Total shareholders' funds | 6,510 | 21,952 |
Director's responsibilities:
The financial statements of Simplexity Limited (registered number:
M G Hazell
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.
Simplexity Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Chellington House, Bridgend, Carlton, Bedford, MK43 7LP, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.
The functional currency of Simplexity Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Office Equipment- 33% and 50% straight line.
Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
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.
2020 | 2019 | |
Number | Number | |
Monthly average number of persons employed by the Company during the year, including director |
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Office equipment | Total | |
£ | £ | |
Cost/Valuation | ||
At 02 August 2019 |
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At 01 August 2020 |
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Accumulated depreciation | ||
At 02 August 2019 |
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Charge for the financial year |
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At 01 August 2020 |
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Net book value | ||
At 01 August 2020 |
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At 01 August 2019 |
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2020 | 2019 | |
£ | £ | |
Other debtors |
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2020 | 2019 | |
£ | £ | |
Trade creditors |
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Other creditors |
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Accruals |
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Other taxation and social security |
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2020 | 2019 | |
£ | £ | |
Allotted, called-up and fully-paid | ||
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2 | 2 |