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REGISTERED NUMBER: SC135805 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

SIMMERS (ARDMEDDEN) LIMITED

SIMMERS (ARDMEDDEN) LIMITED (REGISTERED NUMBER: SC135805)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SIMMERS (ARDMEDDEN) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: E J Simmers
A G Simmers





SECRETARY: Mackinnons Solicitors LLP





REGISTERED OFFICE: 14 Carden Place
Aberdeen
AB10 1UR





REGISTERED NUMBER: SC135805 (Scotland)

SIMMERS (ARDMEDDEN) LIMITED (REGISTERED NUMBER: SC135805)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 892 1,337
Tangible assets 6 2,570,141 2,653,239
Investments 7 18,000 18,000
Investment property 8 805,948 805,948
3,394,981 3,478,524

CURRENT ASSETS
Stocks 112,451 131,465
Debtors 9 255,498 162,659
Cash at bank and in hand 86,941 81,983
454,890 376,107
CREDITORS
Amounts falling due within one year 10 1,058,982 1,070,628
NET CURRENT LIABILITIES (604,092 ) (694,521 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,790,889

2,784,003

CREDITORS
Amounts falling due after more than one
year

11

(623,885

)

(754,902

)

PROVISIONS FOR LIABILITIES (326,895 ) (322,306 )
NET ASSETS 1,840,109 1,706,795

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 1,315,531 1,315,531
Revaluation reserve 284,699 284,699
Other reserves 319,269 319,269
Retained earnings (80,390 ) (213,704 )
SHAREHOLDERS' FUNDS 1,840,109 1,706,795

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

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

SIMMERS (ARDMEDDEN) LIMITED (REGISTERED NUMBER: SC135805)

BALANCE SHEET - continued
31 MAY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2024 and were signed on its behalf by:





A G Simmers - Director


SIMMERS (ARDMEDDEN) LIMITED (REGISTERED NUMBER: SC135805)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Simmers (Ardmedden) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors consider that there are no estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities.

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

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.

BPS Entitlements is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Straight line over 50 years
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance, Straight line over 15 years and Straight line over 20 years

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

SIMMERS (ARDMEDDEN) LIMITED (REGISTERED NUMBER: SC135805)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

3. ACCOUNTING POLICIES - continued

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 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.

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

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 useful lives or the term of the lease, whichever is the shorter.

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

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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 8 ) .

SIMMERS (ARDMEDDEN) LIMITED (REGISTERED NUMBER: SC135805)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2022
and 31 May 2023 2,229
AMORTISATION
At 1 June 2022 892
Charge for year 445
At 31 May 2023 1,337
NET BOOK VALUE
At 31 May 2023 892
At 31 May 2022 1,337

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2022 1,698,787 2,875,738 4,574,525
Additions - 93,150 93,150
At 31 May 2023 1,698,787 2,968,888 4,667,675
DEPRECIATION
At 1 June 2022 134,953 1,786,333 1,921,286
Charge for year 19,346 156,902 176,248
At 31 May 2023 154,299 1,943,235 2,097,534
NET BOOK VALUE
At 31 May 2023 1,544,488 1,025,653 2,570,141
At 31 May 2022 1,563,834 1,089,405 2,653,239

Land and buildings includes property with a deemed cost on transition to FRS102 of £1,100,000. The historic cost of this property was £759,546.

Included within the net book value of £1,025,653 is £423,457 (2022 - £404,149) relating to assets held under hire purchase agreements. The depreciation charged to the accounts in the year in respect of such assets amounted to £54,542 (2022 - £49,125).

7. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Other investments 18,000 18,000

SIMMERS (ARDMEDDEN) LIMITED (REGISTERED NUMBER: SC135805)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

8. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 805,948
NET BOOK VALUE
At 31 May 2023 805,948
At 31 May 2022 805,948

Investment property comprises residential properties. The fair values of the investment properties have been arrived at on the basis of valuations carried out at 18 January 2019 by DM Hall, Chartered Surveyors, who are not connected with the company or the directors. The valuations were made on an open market value basis by reference to market evidence of transaction prices for similar properties.

The directors are satisfied that the fair value of the properties as at 31 May 2023 is not materially different to these valuations.

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 131,090 38,494
Other debtors 124,408 124,165
255,498 162,659

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 139,726 139,349
Hire purchase contracts 53,874 66,668
Trade creditors 49,657 92,015
Taxation and social security 58,372 13,602
Other creditors 757,353 758,994
1,058,982 1,070,628

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 239,746 230,658
Other creditors 384,139 524,244
623,885 754,902

SIMMERS (ARDMEDDEN) LIMITED (REGISTERED NUMBER: SC135805)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

12. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 139,726 139,349
Hire purchase contracts 293,620 297,326
433,346 436,675

The bank loans are secured by a standard security over certain freehold property.

Hire purchase obligations are secured over the assets to which they relate.