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REGISTERED NUMBER: 01794125 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Simtor Limited

Simtor Limited (Registered number: 01794125)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Simtor Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: S T J Long
Mrs L V Jardine
Mrs M Long



SECRETARY: Mrs L V Jardine



REGISTERED OFFICE: Warwick Mill Business Centre
Warwick Bridge Business Park
Carlisle
Cumbria
CA4 8RR



REGISTERED NUMBER: 01794125 (England and Wales)



ACCOUNTANTS: James W A Cruickshank & Co
Chartered Accountants
Chartered Tax Advisers
Inglewood
Wreay
Carlisle
Cumbria
CA4 0RL



SOLICITORS: Cartmell Shepherd
Viaduct House
Carlisle
CA3 8EZ

Simtor Limited (Registered number: 01794125)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,478,840 2,518,333

CURRENT ASSETS
Stocks 507,080 507,080
Debtors 5 36,234 29,881
Prepayments and accrued income (1 ) -
Cash at bank and in hand 295,038 100,477
838,351 637,438
CREDITORS
Amounts falling due within one year 6 271,528 177,376
NET CURRENT ASSETS 566,823 460,062
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,045,663

2,978,395

CREDITORS
Amounts falling due after more than one
year

7

(59,895

)

(43,829

)

PROVISIONS FOR LIABILITIES (76,596 ) (77,031 )
NET ASSETS 2,909,172 2,857,535

CAPITAL AND RESERVES
Called up share capital 249,654 249,654
Share premium 1,454,528 1,454,528
Other reserves 326,536 326,536
Retained earnings 878,454 826,817
SHAREHOLDERS' FUNDS 2,909,172 2,857,535

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 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.

Simtor Limited (Registered number: 01794125)

Balance Sheet - continued
30 November 2024


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 27 February 2025 and were signed on its behalf by:





S T J Long - Director


Simtor Limited (Registered number: 01794125)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Simtor 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 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 as modified by the revaluation of certain assets.

Turnover
The turnover shown in the profit and loss account represents amounts receivable during the year, exclusive of value added tax. Invoices for services are accounted for pro - rata on a time basis.

Tangible fixed assets
All fixed assets are initially recorded at cost. Four properties previously revalued up until 30th November 2011 are now shown at historic cost. One of the properties was sold on 1st December 2011. The directors no longer revalue properties in the company's ownership.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Freehold Property - 1% straight line
Motor Vehicles - 25% reducing balance
Plant & Equipment - 25% reducing balance
Office Equipment & Furniture - 15% to 30% reducing balance and 20% straight line

Freehold buildings are depreciated to write down the cost less estimated residual value over their remaining useful life by equal annual instalments.

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

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.


Simtor Limited (Registered number: 01794125)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued
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
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.

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.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 December 2023 2,608,586 559,703 165,589
Additions - - 5,125
Disposals (111,861 ) (170,653 ) (162,973 )
At 30 November 2024 2,496,725 389,050 7,741
DEPRECIATION
At 1 December 2023 237,605 503,819 163,375
Charge for year 23,683 33,080 500
Eliminated on disposal (111,672 ) (170,653 ) (157,072 )
At 30 November 2024 149,616 366,246 6,803
NET BOOK VALUE
At 30 November 2024 2,347,109 22,804 938
At 30 November 2023 2,370,981 55,884 2,214

Simtor Limited (Registered number: 01794125)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. TANGIBLE FIXED ASSETS - continued

Scaffolding
Motor & Joinery
vehicles Plant Totals
£    £    £   
COST OR VALUATION
At 1 December 2023 175,279 6,695 3,515,852
Additions 166,143 - 171,268
Disposals (122,339 ) (6,695 ) (574,521 )
At 30 November 2024 219,083 - 3,112,599
DEPRECIATION
At 1 December 2023 86,025 6,695 997,519
Charge for year 50,268 - 107,531
Eliminated on disposal (25,199 ) (6,695 ) (471,291 )
At 30 November 2024 111,094 - 633,759
NET BOOK VALUE
At 30 November 2024 107,989 - 2,478,840
At 30 November 2023 89,254 - 2,518,333

Cost or valuation at 30 November 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2022 403,132 - - - 403,132
Cost 2,093,593 389,050 7,741 219,083 2,709,467
2,496,725 389,050 7,741 219,083 3,112,599

Simtor Limited (Registered number: 01794125)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 December 2023 121,214
Additions 126,722
Disposals (121,988 )
At 30 November 2024 125,948
DEPRECIATION
At 1 December 2023 54,352
Charge for year 22,120
Eliminated on disposal (24,848 )
At 30 November 2024 51,624
NET BOOK VALUE
At 30 November 2024 74,324
At 30 November 2023 66,862

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 12,895 21,915
Prepayments 23,339 20,332
Tax - 3,861
Accruals - (16,227 )
36,234 29,881

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Other loans 36,589 26,581
Hire purchase contracts 18,136 18,136
Trade creditors 36,151 12,096
Tax 33,312 3,847
Social security and other taxes 7,731 18,285
VAT 17,142 17,945
Amounts due to Tenants 1,585 1,543
Tenant Deposits - 18 Fisher St 4,410 3,810
Tenants Deposits - WMBC 32,109 22,618
Tenants Deposits - W/Mill 26,957 22,634
Key Deposits 5,800 4,640
Accrued expenses 38,078 9,803
Rents Paid in Advance 13,528 15,438
271,528 177,376

Simtor Limited (Registered number: 01794125)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Hire purchase contracts 59,895 43,829

8. FINANCIAL INSTRUMENTS

Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

9. ULTIMATE CONTROLLING PARTY

Ultimate Control lies with the trustees of the Thomas Whipp Discretionary Settlement which owns Irthing Investments Limited which in turn owns Powmauham Holdings Limited and Washbeck Holdings Limited both companies holding 27727 ordinary shares each equating to 91.54% of the Ordinary Share Capital of the company.