Game works on device, but not on simulator

I am trying to run my app on the ios simulator in order to make the required screenshots, however the game crashes at the unity logo. On iOS 7.1 the SIGABRT exception is thrown, while on 6.1 EXC_BREAKPOINT(code=EXC_I386_BPT, subcode 0x0). Also one strange thing I noticed is the fact that in XCode in the Build Settings menu, the Base SDK value is "iphonesimulator(SDK not found)" which seems quite strange since when building for "Device SDK", this error isn't present. Does anyone have a solution to this problem?