Simple Bridging Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07635177

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2021

FOR

SIMPLE BRIDGING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

H N Sayani

SECRETARY:

REGISTERED OFFICE:

6 York House

39 Upper Montague Street

London

W1H 1FR

REGISTERED NUMBER:

07635177

CURRENT ASSETS

Debtors

5

73,950

73,950

Cash at bank

465

565

74,415

74,515

CREDITORS

Amounts falling due within one year

6

(1,397,231

)

(1,359,792

)

NET CURRENT LIABILITIES

(1,322,816

)

(1,285,277

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,322,816

)

(1,285,277

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(1,322,817

)

(1,285,278

)

SHAREHOLDERS' FUNDS

(1,322,816

)

(1,285,277

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 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 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 22 March 2022 and were signed by:

H N Sayani - Director

1.	STATUTORY INFORMATION

Simple Bridging Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Going Concern

The financial statements have been prepared on a going concern basis on the assumption that the creditors and associated companies will continue to support the company for a period of twelve months from the date of the signing of these financial statements. The net liabilities at the balance sheet date amount to £1,285,278 (2019 -£1,246,627). The company has made a loss of £38,650 (2019 - £167,298).

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

20% on cost

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 31 March 2020

and 30 March 2021

1,188

3,341

4,529

DEPRECIATION

At 31 March 2020

and 30 March 2021

1,188

3,341

4,529

NET BOOK VALUE

At 30 March 2021

-

-

-

At 30 March 2020

-

-

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Amounts owed by associates

10,716

10,716

Other debtors

63,234

63,234

73,950

73,950

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

-

(1

)

Amounts owed to group undertakings

23,245

23,245

Amounts owed to associates

148,733

142,733

Taxation and social security

289,679

288,297

Other creditors

935,574

905,518

1,397,231

1,359,792

Included in 'Other creditors' is £430,000 (2020 - £430,000) relating to a loan payable; The loan is unsecured and interest free.

Other creditors include amounts advanced by associated companies £431,030 (2020 - £428,830). The loans are unsecured and interest free.

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is H N Sayani.