Simpla Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04929085 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

SIMPLA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S D Wilson

J M A Wilson

SECRETARY:

S D Wilson

REGISTERED OFFICE:

Weaveley Arboretum

The Roundhouse

Tackley

Oxfordshire

OX5 3ER

REGISTERED NUMBER:

04929085 (England and Wales)

ACCOUNTANTS:

Logan & Brewerton

Chartered Certified Accountants

Astral House

Granville Way

Bicester

Oxfordshire

OX26 4JT

FIXED ASSETS

Intangible assets

4

908,360

1,135,450

Tangible assets

5

2,539

3,265

910,899

1,138,715

CURRENT ASSETS

Stocks

47,500

-

Debtors

6

607,032

201,134

Cash at bank and in hand

41,465

28,343

695,997

229,477

CREDITORS

Amounts falling due within one year

7

1,589,023

1,354,004

NET CURRENT LIABILITIES

(893,026

)

(1,124,527

)

TOTAL ASSETS LESS CURRENT LIABILITIES

17,873

14,188

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

17,773

14,088

SHAREHOLDERS' FUNDS

17,873

14,188

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 28 June 2018 and were signed on its behalf by:

S D Wilson - Director

1.	STATUTORY INFORMATION

Simpla Limited is a private company, limited by shares , registered in England and Wales. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires

management to exercise its judgement in the process of applying accounting policies. The areas involving a

higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the

financial statements, are disclosed in the accounting policies below.

Estimates and judgements are continually evaluated and are based on historical experience and other factors,

including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Revenue is recognised for the sale of goods when the significant risks and rewards of ownership of the goods

have passed to the buyer (usually on the dispatch of goods), the amount of revenue can be measured reliably, it is

probable that the economic benefit will flow to the entity and the costs incurred or to be incurred in respect of the

transaction can be measured reliably.

Revenue is recognised for the provision of services when it is probably that an economic benefit will flow to the

entity and the revenue and costs can be reliably measured. For continuing services, revenue is recognised when

the stage of completion can be reliably measured.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Development Costs are being amortised evenly over their estimated useful life of ten years.

Amortisation

Capitalised development costs will be amortised over a periods of 10 years, in which the company expects to

benefit from realising those costs. This year £227,090 has been amortised against income earned. Amortisation

will be allocated on a systematic basis to each accounting period over the period that the products are likely to be

sold commercially.

The useful life and value of the capitalised development cost is assessed for impairment at least annually.

The value is written down immediately if impairment has occurred and the remaining cost is amortised over its

reduced useful life.

Tangible fixed assets

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

Fixtures & Fittings

-

15% on reducing balance

Computer Equipment

-

33% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

Research and development

The company's products have been manufactured and are being sold, subject to any further upgrading

requirements. Product expenditure has been set off against any revenue received and the balance capitalised.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Development

Costs

£

COST

At 1 October 2016

and 30 September 2017

1,513,934

AMORTISATION

At 1 October 2016

378,484

Amortisation for year

227,090

At 30 September 2017

605,574

NET BOOK VALUE

At 30 September 2017

908,360

At 30 September 2016

1,135,450

5.	TANGIBLE FIXED ASSETS

Fixtures

Computer

& Fittings

Equipment

Totals

£

£

£

COST

At 1 October 2016

and 30 September 2017

5,355

3,859

9,214

DEPRECIATION

At 1 October 2016

3,408

2,541

5,949

Charge for year

291

435

726

At 30 September 2017

3,699

2,976

6,675

NET BOOK VALUE

At 30 September 2017

1,656

883

2,539

At 30 September 2016

1,947

1,318

3,265

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade Debtors

1,514

1,329

Other Debtors

605,518

198,822

Prepayments

-

983

607,032

201,134

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade Creditors

32,914

17,651

Amounts owed to group undertakings

855,328

855,328

VAT

32,712

13,077

Other Creditors

3,606

879

Directors' current accounts

661,963

464,569

Accruals and deferred income

2,500

2,500

1,589,023

1,354,004

Directors' current accounts represents amounts due to one of the directors, S D Wilson.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 October 2016

14,088

Profit for the year

3,685

At 30 September 2017

17,773

10.	RELATED PARTY DISCLOSURES

The ultimate controlling party is S D Wilson, by virtue of his shareholding in the parent company, Simpla

International Limited.

11.	FIRST YEAR ADOPTION

The adoption of FRS 102 did not have a material impact on the financial statements and it was therefore not

considered necessary to restate the comparative accounting period at the date of transition of 1 October 2015.