Simon Stephenson Limited - Accounts to registrar (filleted) - small 18.2

Simon Stephenson Limited - Accounts to registrar (filleted) - small 18.2

SIMON STEPHENSON LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v21.4.0.171 SC273536 director 1.1.21 31.12.21 31.12.21 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC2735362020-12-31SC2735362021-12-31SC2735362021-01-012021-12-31SC2735362019-12-31SC2735362020-01-012020-12-31SC2735362020-12-31SC273536ns16:Scotland2021-01-012021-12-31SC273536ns15:PoundSterling2021-01-012021-12-31SC273536ns11:Director12021-01-012021-12-31SC273536ns11:PrivateLimitedCompanyLtd2021-01-012021-12-31SC273536ns11:SmallEntities2021-01-012021-12-31SC273536ns11:AuditExempt-NoAccountantsReport2021-01-012021-12-31SC273536ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-31SC273536ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-31SC273536ns11:FullAccounts2021-01-012021-12-31SC273536ns11:CompanySecretary12021-01-012021-12-31SC273536ns11:RegisteredOffice2021-01-012021-12-31SC273536ns6:CurrentFinancialInstruments2021-12-31SC273536ns6:CurrentFinancialInstruments2020-12-31SC273536ns6:ShareCapital2021-12-31SC273536ns6:ShareCapital2020-12-31SC273536ns6:RetainedEarningsAccumulatedLosses2021-12-31SC273536ns6:RetainedEarningsAccumulatedLosses2020-12-31SC273536ns6:PlantMachinery2021-01-012021-12-31SC273536ns6:PlantMachinery2020-12-31SC273536ns6:PlantMachinery2021-12-31SC273536ns6:PlantMachinery2020-12-31SC273536ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-31SC273536ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-31SC273536ns6:CurrentFinancialInstruments2021-01-012021-12-31
REGISTERED NUMBER: SC273536 (Scotland)




















Simon Stephenson Limited

Unaudited Financial Statements

for the Year Ended 31 December 2021





Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT








Simon Stephenson Limited (Registered number: SC273536)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Simon Stephenson Limited

Company Information
for the Year Ended 31 December 2021







DIRECTOR: S P Stephenson



SECRETARY: Mrs M Whiston



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



REGISTERED NUMBER: SC273536 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Bank of Scotland
600 Gorgie Road
Edinburgh
EH11 3XP
Page 1
Simon Stephenson Limited (Registered number: SC273536)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 668 742

CURRENT ASSETS
Debtors 5 2,750 15,012
Cash at bank 31,961 16,053
34,711 31,065
CREDITORS
Amounts falling due within one year 6 31,806 27,180
NET CURRENT ASSETS 2,905 3,885
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,573
4,627

PROVISIONS FOR LIABILITIES 127 141
NET ASSETS 3,446 4,486

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,346 4,386
SHAREHOLDERS' FUNDS 3,446 4,486

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The notes form part of these financial statements

Page 2 continued...
Simon Stephenson Limited (Registered number: SC273536)

Balance Sheet - continued
31 December 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 March 2022 and were signed by:





S P Stephenson - Director


The notes form part of these financial statements

Page 3
Simon Stephenson Limited (Registered number: SC273536)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Simon Stephenson Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover and revenue recognition
Turnover represents net script writing services provided to the entertainment industry. Revenue is recognised when the service has been supplied to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and 20% on cost

Financial instruments
Financial instruments comprise financial assets and financial liabilities which are recognised when the company become a party to the contractual provisions of the instrument. Financial instruments are classified as "basic" in accordance with FRS 102 and are accounted for at amortised cost using the effective interest method.The effective interest rate is the rate that exactly discounts estimated future cash flows over the life of the financial assets or liability to the net carrying amount on initial recognition. Discounting is not applied to short-term receivables and payables, where the effect is immaterial.

Financial assets at cost compromise bank, trade debtors and other debtors. Financial liabilities compromise trade creditors, accruals and other creditors.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.


Page 4 continued...
Simon Stephenson Limited (Registered number: SC273536)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

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.

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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern
The financial statements have been prepared on the going concern basis. The director's going concern assessment includes the expected impact of COVID-19 to the company for a period of at least 12 months from the date of signing of these financial statements.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable that the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

Page 5 continued...
Simon Stephenson Limited (Registered number: SC273536)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021
and 31 December 2021 6,386
DEPRECIATION
At 1 January 2021 5,644
Charge for year 74
At 31 December 2021 5,718
NET BOOK VALUE
At 31 December 2021 668
At 31 December 2020 742

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors - 15,012
Other debtors 2,750 -
2,750 15,012

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Taxation and social security 5,470 25,384
Other creditors 26,336 1,796
31,806 27,180

Included in other creditors is £24,300 (2020 - nil) due to the director.

7. CONTINGENT ASSETS

The company is currently taking legal action with a view to obtaining redress from a client for underpayment of a contractual bonus. It is currently not practical to estimate the likely amount that will be received in future. Legal costs associated with this are expensed when incurred.

Page 6