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REGISTERED NUMBER: 01063675 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

S Simmonds & Son Limited

S Simmonds & Son Limited (Registered number: 01063675)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S Simmonds & Son Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: G P Leech
P J R Monkhouse
I J Webb





REGISTERED OFFICE: Unit 5 Kennet Way
Canal Road Industrial Estate
Trowbridge
Wiltshire
BA14 8BL





REGISTERED NUMBER: 01063675 (England and Wales)





ACCOUNTANTS: Deeks Evans Audit Services Limited
Statutory Auditor
First Floor, West Barn
North Frith Farm, Ashes Lane, Hadlow
Tonbridge
Kent
TN11 9QU

S Simmonds & Son Limited (Registered number: 01063675)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 134,627 163,901
134,627 163,901

CURRENT ASSETS
Stocks 986,633 1,105,667
Debtors 6 161,667 122,249
Cash at bank and in hand 22,836 74,451
1,171,136 1,302,367
CREDITORS
Amounts falling due within one year 7 433,782 318,555
NET CURRENT ASSETS 737,354 983,812
TOTAL ASSETS LESS CURRENT
LIABILITIES

871,981

1,147,713

CREDITORS
Amounts falling due after more than one
year

8

-

(234,282

)

PROVISIONS FOR LIABILITIES (24,927 ) (48,926 )
NET ASSETS 847,054 864,505

CAPITAL & RESERVES
Called up share capital 11 100 50,100
Retained earnings 846,954 814,405
SHAREHOLDERS' FUNDS 847,054 864,505

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

S Simmonds & Son Limited (Registered number: 01063675)

Balance Sheet - continued
31 January 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2023 and were signed on its behalf by:





P J R Monkhouse - Director


S Simmonds & Son Limited (Registered number: 01063675)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

S Simmonds & Son 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

Going concern
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.

The company meets its day to day working capital requirements through an overdraft facility which is repayable on demand. The company has a good working relationship with the bank and expects this facility to continue. The financial statements have therefore been prepared on a going concern basis. The financial statements do not include any adjustments that would be necessary should this basis not be appropriate.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant & machinery - 15% on cost
Fixtures & fittings - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

S Simmonds & Son Limited (Registered number: 01063675)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Intangible assets-goodwill
Goodwill , being the amount paid in connection with the acquisition of a business in 2000 , has been amortised over a 20 year period to 31 August 2020.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 75 (2022 - 71 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 75,000
AMORTISATION
At 1 February 2022
and 31 January 2023 75,000
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

S Simmonds & Son Limited (Registered number: 01063675)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

5. TANGIBLE FIXED ASSETS
Plant & Fixtures Computer
machinery & fittings equipment Totals
£    £    £    £   
COST
At 1 February 2022 97,233 475,801 259,305 832,339
Additions - 58,854 - 58,854
At 31 January 2023 97,233 534,655 259,305 891,193
DEPRECIATION
At 1 February 2022 60,458 361,606 246,374 668,438
Charge for year 12,525 67,831 7,772 88,128
At 31 January 2023 72,983 429,437 254,146 756,566
NET BOOK VALUE
At 31 January 2023 24,250 105,218 5,159 134,627
At 31 January 2022 36,775 114,195 12,931 163,901

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 42,364 52,900
Other debtors 15,600 15,600
Prepayments & accrued income 103,703 53,749
161,667 122,249

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans & overdrafts 227,500 76,218
Hire purchase contracts and finance leases (see note 9)
-

29,774
Trade creditors 148,164 104,745
Corporation tax 5,581 4,215
Social security & other taxes 20,182 21,560
Other creditors 4,756 6,654
Directors' current accounts 15,384 38,465
Accrued expenses 12,215 36,924
433,782 318,555

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years - 70,000
Bank loans - 2-5 years - 157,500
Hire purchase contracts and finance leases (see note 9)
-

6,782
- 234,282

S Simmonds & Son Limited (Registered number: 01063675)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts Finance leases
2023 2022 2023 2022
£    £    £    £   
Net obligations repayable:
Within one year - 24,070 - 5,704
Between one and five years - 6,782 - -
- 30,852 - 5,704

Non-cancellable operating leases
2023 2022
£    £   
Within one year - 181,000
Between one and five years - 217,800
In more than five years - 805,849
- 1,204,649

10. SECURED DEBTS

All charges in respect of bank indebtedness following the share sale of the company on 31 January 2023 have been satisfied as of 3 February 2023.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
50,000 Non voting ordinary redeemable £1 - 50,000
100 50,100

12. RELATED PARTY DISCLOSURES

The company paid commercial rent of £80,540 (2022: £100,643) to The Simmonds Family Trust , the beneficiaries of which includes a director who held office during the year .