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 |
10 Temple Back | |
Bristol | |
BS1 6FL |
2021 | 2020 | |||
Note | £ | £ | ||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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4,538 | 8,200 | |||
Creditors | ||||
Amounts falling due within one year | 5 | (
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Net current assets | 3,146 | 6,510 | ||
Total assets less current liabilities | 3,146 | 6,510 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account |
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Total shareholders' funds |
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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, unless otherwise stated.
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 and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
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.
The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Director’s Report.
The Company's forecasts and projections, taking account of the continued possible impact of COVID-19 in trading performance, show that the company should be able to operate within the level of its current facilities.
Therefore, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
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 Statement of Financial Position 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.
Deferred tax assets and liabilities are not discounted.
Office equipment |
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years | Straight line |
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised 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.
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.
2021 | 2020 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including director |
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Office equipment | Total | ||
£ | £ | ||
Cost | |||
At 02 August 2020 |
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Disposals | (
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At 01 August 2021 |
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Accumulated depreciation | |||
At 02 August 2020 |
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Disposals | (
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At 01 August 2021 |
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Net book value | |||
At 01 August 2021 |
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At 01 August 2020 |
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2021 | 2020 | ||
£ | £ | ||
Other debtors |
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2021 | 2020 | ||
£ | £ | ||
Trade creditors |
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Accruals |
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Other taxation and social security |
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2021 | 2020 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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