Simara Developments Limited Filleted accounts for Companies House (small and micro)

SIMARA DEVELOPMENTS LIMITED - Company Information

2 false false false false false false false false false true false false false false false false No description of principal activity 2021-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 10804635 2021-01-01 2021-12-31 10804635 2021-12-31 10804635 2019-07-01 2020-12-31 10804635 2020-12-31 10804635 bus:Director2 2021-01-01 2021-12-31 10804635 core:AfterOneYear 2021-12-31 10804635 core:WithinOneYear 2021-12-31 10804635 core:WithinOneYear 2020-12-31 10804635 core:ShareCapital 2021-12-31 10804635 core:ShareCapital 2020-12-31 10804635 core:RetainedEarningsAccumulatedLosses 2021-12-31 10804635 core:RetainedEarningsAccumulatedLosses 2020-12-31 10804635 bus:SmallEntities 2021-01-01 2021-12-31 10804635 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 10804635 bus:FullAccounts 2021-01-01 2021-12-31 10804635 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 10804635 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 10804635 core:AfterOneYear 2021-01-01 2021-12-31

COMPANY REGISTRATION NUMBER: 10804635

Simara Developments Limited

Filleted Unaudited Financial Statements

31 December 2021

Simara Developments Limited

Financial Statements

Year ended 31 December 2021

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Simara Developments Limited

Statement of Financial Position

31 December 2021

	2021	2020
Note	£	£

Current assets

Stocks		417,756	186,898
Debtors	5	658,306	151,788
Cash at bank and in hand		117,353	2,353
		------------	---------
		1,193,415	341,039

Creditors: amounts falling due within one year	6	782,143	227,349
		------------	---------
Net current assets		411,272	113,690
		---------	---------
Total assets less current liabilities		411,272	113,690

Creditors: amounts falling due after more than one year	7	300,000	–
		---------	---------
Net assets		111,272	113,690
		---------	---------

Capital and reserves

Called up share capital	26,398	26,398
Profit and loss account	84,874	87,292
	---------	---------
Shareholders funds	111,272	113,690
	---------	---------

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 31 December 2021 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 .

Simara Developments Limited

Statement of Financial Position (continued)

31 December 2021

These financial statements were approved by the board of directors and authorised for issue on 27 September 2022 , and are signed on behalf of the board by:

R D Foxley

Director

Company registration number: 10804635

Simara Developments Limited

Notes to the Financial Statements

Year ended 31 December 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 14 Marlowe Business Centre, 4-6 Orange Street, Canterbury, CT1 2JA, 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.

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.

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 stock to its present location and condition.

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 (2020: 2 ).

5. Debtors

	2021	2020
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	652,219	150,000
Other debtors	6,087	1,788
	---------	---------
	658,306	151,788
	---------	---------

6. Creditors: amounts falling due within one year

	2021	2020
	£	£
Corporation tax	–	20,476
Other creditors	782,143	206,873
	---------	---------
	782,143	227,349
	---------	---------

7. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Bank loans and overdrafts	300,000	–
	---------	----

Bank loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company.

8. Related party transactions

At the year end the company were owed £652,219 (2020: £150,000) by a group company. At the year end the company owed the director £781,093 (2020: £205,873).

9. Controlling party

The ultimate parent company is Urban Projects (North Lane) Limited, a company registered in England & Wales. The registered address of the ultimate controlling party is: Camburgh House, 27 New Dover Road, Canterbury, Kent, United Kingdom, CT1 3DN.