SIMEIO SOLUTIONS LIMITED

SIMEIO SOLUTIONS LIMITED

SIMEIO SOLUTIONS LIMITED - Company Information

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1 January 2018 false No description of principal activity Taxfiler 2019.10.Web 7381686business:PrivateLimitedCompanyLtd2018-01-012018-12-31 73816862017-12-31 73816862018-01-012018-12-31 7381686business:AuditExempt-NoAccountantsReport2018-01-012018-12-31 7381686business:FullAccounts2018-01-012018-12-31 73816862018-12-31 7381686business:Director22018-01-012018-12-31 7381686business:RegisteredOffice2018-01-012018-12-31 73816862017-12-31 7381686core:WithinOneYear2018-12-31 7381686core:WithinOneYear2017-12-31 7381686core:ShareCapital2018-12-31 7381686core:ShareCapital2017-12-31 7381686core:RetainedEarningsAccumulatedLosses2018-12-31 7381686core:RetainedEarningsAccumulatedLosses2017-12-31 7381686business:SmallEntities2018-01-012018-12-31 7381686countries:EnglandWales2018-01-012018-12-31 7381686core:ComputerEquipment2017-12-31 7381686core:ComputerEquipment2018-12-31 7381686business:OrdinaryShareClass12018-01-012018-12-31 7381686business:OrdinaryShareClass12017-01-012017-12-31 73816862017-01-012017-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 7381686 (England and Wales)
SIMEIO SOLUTIONS LIMITED Unaudited accounts for the year ended 31 December 2018
SIMEIO SOLUTIONS LIMITED Unaudited accounts Contents
Page
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SIMEIO SOLUTIONS LIMITED Company Information for the year ended 31 December 2018
Director
Hemen Vimadalal
Company Number
7381686 (England and Wales)
Registered Office
Royal Mail House Terminus Terrace, Suite 10 Southampton Hampshire SO14 3FD UK
Accountants
Business Accounting and Tax Ltd 57 Ullswater Avenue West End Southampton Hamphire SO18 3QS
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SIMEIO SOLUTIONS LIMITED Statement of financial position as at 31 December 2018
2018 
2017 
Notes
£ 
£ 
Current assets
Debtors
5
374,659 
169,051 
Cash at bank and in hand
170,645 
185,845 
545,304 
354,896 
Creditors: amounts falling due within one year
6
(304,895)
(106,825)
Net current assets
240,409 
248,071 
Net assets
240,409 
248,071 
Capital and reserves
Called up share capital
7
1,000 
1,000 
Profit and loss account
239,409 
247,071 
Shareholders' funds
240,409 
248,071 
For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 4 September 2019.
Hemen Vimadalal Director Company Registration No. 7381686
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SIMEIO SOLUTIONS LIMITED Notes to the Accounts for the year ended 31 December 2018
1
Statutory information
SIMEIO SOLUTIONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 7381686. The registered office is Royal Mail House , Terminus Terrace, Suite 10, Southampton, Hampshire, SO14 3FD, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 January 2018
1,634 
At 31 December 2018
1,634 
Depreciation
At 1 January 2018
1,634 
At 31 December 2018
1,634 
Net book value
At 31 December 2018
- 
5
Debtors
2018 
2017 
£ 
£ 
Trade debtors
26,516 
42,874 
Amounts due from group undertakings etc.
347,143 
125,177 
Other debtors
1,000 
1,000 
374,659 
169,051 
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SIMEIO SOLUTIONS LIMITED Notes to the Accounts for the year ended 31 December 2018
6
Creditors: amounts falling due within one year
2018 
2017 
£ 
£ 
Trade creditors
(599)
- 
Amounts owed to group undertakings and other participating interests
266,672 
89,257 
Taxes and social security
33,261 
14,068 
Other creditors
2,061 
- 
Accruals
3,500 
3,500 
304,895 
106,825 
7
Share capital
2018 
2017 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
8
Transactions with related parties
Simeio Solutions Limited provided IT services to Simeio Solutions India, Simeo Solutions Canada and Simeio Solutions LLC during the year for £17,124,101,344 & £75,514 respectively. Simeio Canada and Simeio Solutiions LLC provided IT services and management support to Simeio Solutions Limited in the year to a value of £11,512 & £133,023 respectively. Simeio Solutions creditor balance with Simeio Solutions LLC is £132,956 and debtor balance with Simeio Canada and Simeio India is £157,059 and £27,001 respectively
9
Controlling party
Simeio Netherlands is a branch of Simeio Solutions Limited and all income and costs for the year relating to the branch has been included
10
Average number of employees
During the year the average number of employees was 2 (2017: 3).
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