Simco Homes Limited - Limited company accounts 16.1

REGISTERED NUMBER: 08560756 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Period 1 January 2014 to 30 June 2015

for

Simco Homes Limited

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

G L Simm

REGISTERED OFFICE:

Suite E5

Tower House

Latimer Park

Latimer

Buckinghamshire

HP5 1TU

REGISTERED NUMBER:

08560756 (England and Wales)

ACCOUNTANTS:

Aspley Bookkeeping Services Ltd

90 Mount Pleasant

Aspley Guise

Milton Keynes

Bedfordshire

MK17 8JU

The director presents his report with the financial statements of the company for the period 1 January 2014 to 30 June 2015.

COMMENCEMENT OF TRADING

The Company commenced trading on 1 July 2014.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of the provision of land

procurement services.

DIRECTOR

G L Simm held office during the whole of the period from 1 January 2014 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act

2006 relating to small companies.

ON BEHALF OF THE BOARD:

G L Simm - Director

29 February 2016

TURNOVER

244,728

-

Cost of sales

151,160

-

GROSS PROFIT

93,568

-

Administrative expenses

183,772

-

OPERATING LOSS and

LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION

2

(90,204

)

-

Tax on loss on ordinary activities

3

-

-

LOSS FOR THE FINANCIAL PERIOD

(90,204

)

-

FIXED ASSETS

Tangible assets

4

45,385

-

CURRENT ASSETS

Debtors

5

7,184

-

Cash at bank

442

1

7,626

1

CREDITORS

Amounts falling due within one year

6

143,214

-

NET CURRENT (LIABILITIES)/ASSETS

(135,588

)

1

TOTAL ASSETS LESS CURRENT LIABILITIES

(90,203

)

1

CAPITAL AND RESERVES

Called up share capital

7

1

1

Profit and loss account

8

(90,204

)

-

SHAREHOLDERS' FUNDS

(90,203

)

1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2015 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the director on 29 February 2016 and were signed by:

G L Simm - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on the going concern basis, on the understanding that the

directors, shareholders and creditors will continue to financially support the Company

The director has confirmed that he considers the Company retains sufficient working capital to

continue trading for the foreseeable future.

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line

basis over the period of the lease.

2.	OPERATING LOSS

The operating loss is stated after charging:

Period

Period

1.1.14

7.6.13

to

to

30.6.15

31.12.13

£

£

Depreciation - owned assets

15,129

-

Director's remuneration and other benefits etc

7,950

-

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the period ended 30 June 2015

nor for the period ended 31 December 2013.

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

60,514

At 30 June 2015

60,514

DEPRECIATION

Charge for period

15,129

At 30 June 2015

15,129

NET BOOK VALUE

At 30 June 2015

45,385

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.15

31.12.13

£

£

Other debtors

7,184

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.15

31.12.13

£

£

Trade creditors

93,998

-

Taxation and social security

890

-

Other creditors

48,326

-

143,214

-

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.15

31.12.13

value:

£

£

100

Ordinary

1

1

1

8.

RESERVES

Profit

and loss

account

£

Deficit for the period

(90,204

)

At 30 June 2015

(90,204

)