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REGISTERED NUMBER: 04144765 (England and Wales)













STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED

SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED (REGISTERED NUMBER: 04144765)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 6

Report of the Independent Auditors 8

Income Statement 12

Other Comprehensive Income 13

Balance Sheet 14

Statement of Changes in Equity 15

Notes to the Financial Statements 16


SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2024







DIRECTORS: M S Billige
J Brown
D Hiotis





SECRETARY: M S Billige





REGISTERED OFFICE: Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG





REGISTERED NUMBER: 04144765 (England and Wales)





AUDITORS: Oury Clark Chartered Accountants
Statutory Auditors
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED (REGISTERED NUMBER: 04144765)

STRATEGIC REPORT
for the Year Ended 31 December 2024

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS
The company is a management consulting firm and its principal activity is advising companies with regards to their growth, in particular pricing, marketing, sales and digital strategies.

Sales for the year ended 31 December 2024 were £47,067,443 (2023: £42,013,460), and operating profit was £8,973,520 (2023: £7,756,230).

The directors are satisfied with the results for the year in which the business has grown significantly.

The market is competitive but the Directors are encouraged by the resilience the company has shown and remain fully confident in the underlying strength of the business.

PRINCIPAL RISKS AND UNCERTAINTIES

Competition risk:

The UK consultancy market is large, fragmented and highly competitive. The company's principal competitors are large, global consultancies who have significant presence in the UK market.

The company's ongoing success is dependent on its ability to maintain its positioning as the world leader in growth topics and its key specialist focus of pricing, sales, marketing and digital strategy and thus its unique competitive advantage versus bigger, more generalist competitors. That distinctive specialism and the company's strong track record in that area allows the company to win new business and recruit high quality employees. Being part of a larger group also gives the company business advantages due to its ability to manage employee utilisation across offices and teams globally. The principal risk to the company is that competitors build specific expertise in the company's specialist areas and are thereby able to win more business in this area and/or recruit specialist employees away from the company.

Other risks:

The company is not exposed to any significant currency, liquidity, interest rate or credit risk.


SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED (REGISTERED NUMBER: 04144765)

STRATEGIC REPORT
for the Year Ended 31 December 2024

SECTION 172(1) STATEMENT
The likely consequences of any decisions in the long term

Specialising in commercial strategy advice & implementation, including sales, marketing & pricing strategies, our decision-making focuses on long-term value creation for both our clients and our business. We continuously invest in research, technology, and thought leadership to ensure our services remain relevant and competitive. We also assess risks and opportunities to future-proof our business model and maintain sustainable, better growth.

The interests of the company's employees

As a consultancy deploying our expert teams to our clients to deliver our projects, our people are at the core of our business. We are committed to fostering an inclusive, supportive, and engaging workplace. We invest in professional development, well-being initiatives, and a strong company culture to attract and retain top talent.

The need to foster the company's business relationships with suppliers, customers and others

We value strong, long-term relationships with our clients, suppliers, and industry partners. By fostering collaboration, ethical business practices, and high service standards, we ensure mutual success and continued growth.

The impact of the company's operations on the community and the environment

We recognise our responsibility to operate sustainably and are committed to reducing our environmental impact and continued tracking of environmental impact of our decisions where possible, we actively work toward our science-based emission reduction targets while promoting sustainable growth. We also contribute to the wider business community through knowledge-sharing, mentoring, and pro bono projects to support charity and other community causes we believe in.

The reputation for a high standard of business conduct

Integrity is at the heart of everything we do. We uphold the highest standards of professionalism, governance, and compliance, ensuring transparency, confidentiality, and ethical decision-making across all aspects of our operations.

The need to act fairly as between members of the company

We are committed to acting fairly and transparently, balancing the interests of our shareholders, employees, and wider stakeholders. Through open communication and strong governance, we ensure responsible and ethical leadership.

KEY PERFORMANCE INDICATORS

The company's key performance indicators to assess performance in the year are based on profitability and turnover growth. In addition, we consider various HR related KPIs including percentage churn and distribution of performance ratings across the team; and monitor growth and penetration of specific target sectors or service lines.

COMPLIANCE WITH MODERN SLAVERY ACT

Following the enactment of the Modern Slavery Act in October 2015, the company continues to monitor its procurement and human rights practices and remains compliant. Simon, Kucher & Partners Strategy & Marketing Consultants Limited does not support forced and compulsory labour or the exploitation of children.


SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED (REGISTERED NUMBER: 04144765)

STRATEGIC REPORT
for the Year Ended 31 December 2024

GREENHOUSE GAS EMISSIONS, ENERGY CONSUMPTION AND ENERGY EFFICIENCY
Simon Kucher & Partners incurs most of its energy in the running of the UK office and business travel for employees.

Consumption relating to the UK office is as follows:

FY24 FY24
Name and Description in kWh in CO2/tonne
Electricity 203,379 42.11
Gas 147,751 30.59
Total 351,130 72.70

Emissions per employee (kWh) 1,383.53
Emissions per Employee
(t/C02e)


0.29


Consumption relating to business travel is as follows:
FY24
Mode t/CO2e
Flights 175.936
Hotel 36.881
Rail 0.07

Simon-Kucher does not own or lease any transportation vehicles.

The following methods were used in determining the consumption in the above tables:

- Electricity Data: usage was collected from monthly statements from the building owners. The total was converted into t/CO2e by the appropriate conversion factor, as determined by Gov.UK's 2024 conversion factors.

- Gas Data: used for heating of the office, no consumption data was available for 2024. Data was estimated based on total gas consumption of the building in 2022 and share of rented area from total building area. Similarly, the gas total converted into t/CO2e by the appropriate conversion factor, as determined by Gov.UK's 2024 conversion factors.

- Travel Data: usage was compiled from American Express emissions statements.

Information about energy efficiency action taken in the organisation's financial year

For our own UK office, energy efficient measures include:

- Timing controls / motion sensors on office lighting;
- Dedicated recycling bins in our kitchens;
- Reducing usage of single-use plastics and paper;
- We monitor our supply chain network and aim to source as much as possible from energy sufficient suppliers.

For Simon Kucher UK travel, we follow the Group Travel Guidelines. Staff are encouraged to:

- Choose the most direct route when travelling;
- To check for more sustainable alternative means of travel (e.g. train/car rental);
- Share ground transportation when travelling to the same location with another employee;
- Select green certified hotels wherever possible (these are clearly labelled in our online booking engines).

ON BEHALF OF THE BOARD:




SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED (REGISTERED NUMBER: 04144765)

STRATEGIC REPORT
for the Year Ended 31 December 2024



J Brown - Director


14 April 2025

SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED (REGISTERED NUMBER: 04144765)

REPORT OF THE DIRECTORS
for the Year Ended 31 December 2024

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

DIVIDENDS
The total dividend declared for the year ended 31 December 2024 is £5,875,842 (2023: £6,538,284), with a total distribution of dividends for the year ended 31 December 2024 being £8,936,443 (2023: £3,477,889).

FUTURE DEVELOPMENTS
The directors intend on maintaining and strengthening the company performance within the same principal activity.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

M S Billige
J Brown
D Hiotis

There are no qualifying third party indemnities in respect of the directors.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED (REGISTERED NUMBER: 04144765)

REPORT OF THE DIRECTORS
for the Year Ended 31 December 2024


AUDITORS
The auditors, Oury Clark, are deemed to be re-appointed under Section 487 (2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:



J Brown - Director


14 April 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED

Opinion
We have audited the financial statements of Simon, Kucher & Partners Strategy & Marketing Consultants Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months and one day from the date the audit report attached to these financial statements is signed.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be misstated. If we identify such inconsistencies or apparent misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED


Matters on which we are required to report by exception
In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified any matters in the Report of the Directors that are inconsistent with our overall view of the financial statements.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received
from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page six, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential irregularities, including fraud
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
- Considering the nature of the industry, sector, control environment and current business activities, including
possible performance targets and subsequent remuneration;
- Enquiring of management concerning policies and procedures relating to:
1. Complying with laws and regulations and whether there were any instances of non compliance;
2. Mitigating, detecting and responding to fraud risk and whether there has been any actual or possible
instances of fraud.
- Discussing within the engagement team regarding how and where fraud may occur in the financial statements
along with the possible indicators of fraud. We identified the following areas as most likely to be susceptible to
fraud:
1. Management override;
2. Revenue recognition.
- Discussing within the engagement team the legal and regulatory framework in which the company operates and
in particular those which would have an impact on the financial statements. The key laws and regulations
considered were the Companies Act 2006, UK tax legislation and UK employment law.

Audit response to the risks identified
As noted above, we identified management override and revenue recognition as matters that would most likely be susceptible to fraud. Our procedures to respond to these risks included the following:

-
Review of nominal ledger and journals posted in the year to ensure there was no evidence of management
override;
- Recalculation of revenue based on the services provided to ensure revenue is recognised when obligations are
fulfilled.

Further, we also identified compliance with the Companies Act 2006, UK tax legislation and UK employment law as being key areas where there may be possible non-compliance. Our procedures to respond to these risks included the following:
- Review the financial statement disclosures with completion of a disclosure checklist and testing disclosures to
supporting documentation to assess compliance with the Companies Act 2006;
- Review the corporation tax return to ensure it complies with UK tax legislation and completion of our detailed
corporation tax checklist;
- A safeguard review of the financial statements by a qualified accountant independent of the audit team;
- A safeguard review of the corporation tax computation by a Chartered Tax Adviser, also independent of the audit
team; and
- We have checked a sample of compliance with right to work checks and reviewed legal fees for indications of
material issues arising out of non-compliance with employment law.

The above matters and identified laws and regulations and potential fraud risks were communicated to all engagement team members where necessary, in order to enable the team to have the ability to identify such risks. The whole team remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above and the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Emma Crowley (Senior Statutory Auditor)
for and on behalf of Oury Clark Chartered Accountants
Statutory Auditors
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

14 April 2025

SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED (REGISTERED NUMBER: 04144765)

INCOME STATEMENT
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £   

TURNOVER 47,067,443 42,013,460

Cost of sales 10,636,708 9,154,643
GROSS PROFIT 36,430,735 32,858,817

Administrative expenses 27,457,215 25,102,587
OPERATING PROFIT 5 8,973,520 7,756,230

Interest receivable and similar income 52,833 -
PROFIT BEFORE TAXATION 9,026,353 7,756,230

Tax on profit 6 2,361,748 1,880,594
PROFIT FOR THE FINANCIAL YEAR 6,664,605 5,875,636

SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED (REGISTERED NUMBER: 04144765)

OTHER COMPREHENSIVE INCOME
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £   

PROFIT FOR THE YEAR 6,664,605 5,875,636


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

6,664,605

5,875,636

SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED (REGISTERED NUMBER: 04144765)

BALANCE SHEET
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 3,076,592 3,483,995
3,076,592 3,483,995

CURRENT ASSETS
Debtors 10 13,612,448 12,163,907
Cash at bank 3,072,865 4,175,101
16,685,313 16,339,008
CREDITORS
Amounts falling due within one year 11 12,314,950 13,164,811
NET CURRENT ASSETS 4,370,363 3,174,197
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,446,955

6,658,192

PROVISIONS FOR LIABILITIES 13 682,350 682,350
NET ASSETS 6,764,605 5,975,842

CAPITAL AND RESERVES
Called up share capital 14 100,000 100,000
Retained earnings 15 6,664,605 5,875,842
SHAREHOLDERS' FUNDS 6,764,605 5,975,842

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 14 April 2025 and were signed on its behalf by:





J Brown - Director


SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED (REGISTERED NUMBER: 04144765)

STATEMENT OF CHANGES IN EQUITY
for the Year Ended 31 December 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2023 100,000 6,538,490 6,638,490

Changes in equity
Dividends - (6,538,284 ) (6,538,284 )
Total comprehensive income - 5,875,636 5,875,636
Balance at 31 December 2023 100,000 5,875,842 5,975,842

Changes in equity
Dividends - (5,875,842 ) (5,875,842 )
Total comprehensive income - 6,664,605 6,664,605
Balance at 31 December 2024 100,000 6,664,605 6,764,605

SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED (REGISTERED NUMBER: 04144765)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Simon, Kucher & Partners Strategy & Marketing Consultants 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.

The normal place of business is 5th Floor, 10 Fleet Place, London, EC4M 7QS.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of further events that are believed to be reasonable under the circumstances.

No areas of judgement or estimate are considered to be significant.

Turnover
Turnover represents net invoiced sales of services relating to contracts headed by the Company, excluding value added tax, recognised on a time spent basis over the length of the contract, which relates entirely to the principal activity.

Turnover also represents work performed in connection with contracts headed by other group members. Depending on the involvement of the Company, turnover is allocated to the Company on the basis of the total contract turnover or contract cost. Turnover is recognised on a time spent basis over the length of the contract.

Intangible assets
Amortisation is provided at the following annual rates in order to write off each asset, initially measured at cost, over its estimated useful life.
Licences - 33% on cost

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset, initially measured at cost, over its estimated useful life.
Improvements to property - over remaining term of lease
Fixtures and fittings - 25% on cost and over remaining term of lease
Computer equipment - 33% on cost and 20% on cost


SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED (REGISTERED NUMBER: 04144765)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 the profit and loss account in the period to which they relate.

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

Financial instruments
Basic Financial Instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS102.

3. EMPLOYEES AND DIRECTORS
31.12.24 31.12.23
£    £   
Wages and salaries 18,268,735 17,225,506
Social security costs 2,318,091 2,131,239
Other pension costs 414,543 366,329
21,001,369 19,723,074

The average number of employees during the year was as follows:
31.12.24 31.12.23

Sales 111 95
Administration 36 44
147 139

SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED (REGISTERED NUMBER: 04144765)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

4. DIRECTORS' EMOLUMENTS
31.12.24 31.12.23
£    £   
Directors' remuneration 1,619,119 1,584,519

Information regarding the highest paid director is as follows:
31.12.24 31.12.23
£    £   
Emoluments etc 987,021 588,327

The directors are also key management personnel.

One director is in the company pension scheme, and during the year contributions of £1,321 (2023: £1,321) were made towards this scheme on behalf of the director.

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.24 31.12.23
£    £   
Depreciation - owned assets 524,726 248,682
Loss on disposal of fixed assets 1,841 -
Auditors' remuneration 36,750 34,316
Auditors' remuneration for non audit work 58,438 46,508
Foreign exchange differences (103,452 ) 207,028

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.24 31.12.23
£    £   
Current tax:
UK corporation tax 2,361,748 1,241,656

Deferred tax - 638,938
Tax on profit 2,361,748 1,880,594

SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED (REGISTERED NUMBER: 04144765)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.24 31.12.23
£    £   
Profit before tax 9,026,353 7,756,230
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 25%)

2,256,588

1,939,058

Effects of:
Expenses not deductible for tax purposes 3,383 3,554
Capital allowances in excess of depreciation - (622,855 )
Depreciation in excess of capital allowances 101,777 -
2023 tax changes - (78,101 )
Deferred tax - 638,938
Total tax charge 2,361,748 1,880,594

7. DIVIDENDS
31.12.24 31.12.23
£    £   
Ordinary shares of £1 each
Interim 5,875,842 6,538,284

8. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 January 2024
and 31 December 2024 65,564
AMORTISATION
At 1 January 2024
and 31 December 2024 65,564
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED (REGISTERED NUMBER: 04144765)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

9. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2024 2,398,807 808,272 753,960 3,961,039
Additions 14,459 - 109,268 123,727
Disposals - (63,073 ) - (63,073 )
At 31 December 2024 2,413,266 745,199 863,228 4,021,693
DEPRECIATION
At 1 January 2024 90,551 139,399 247,094 477,044
Charge for year 345,066 15,713 163,947 524,726
Eliminated on disposal - (56,669 ) - (56,669 )
At 31 December 2024 435,617 98,443 411,041 945,101
NET BOOK VALUE
At 31 December 2024 1,977,649 646,756 452,187 3,076,592
At 31 December 2023 2,308,256 668,873 506,866 3,483,995

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 9,360,692 7,093,290
Amounts owed by group undertakings 1,042,725 1,913,295
Other debtors 73,100 45,806
Related party debtor 1,661,160 492,243
Tax - 616,735
Prepayments and accrued income 1,474,771 2,002,538
13,612,448 12,163,907

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 565,572 334,453
Amounts owed to group undertakings 4,538,351 2,853,564
Tax 822,933 -
Social security and other taxes 1,857,271 1,671,506
VAT 806,446 1,473,137
Dividend payable - 3,060,601
Related party creditor 1,326,444 1,187,871
Other creditors 17 130,550
Accrued expenses 1,180,219 1,065,652
Deferred income 1,217,697 1,387,477
12,314,950 13,164,811

SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED (REGISTERED NUMBER: 04144765)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

12. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 783,168 671,288
Between one and five years 5,370,300 4,810,894
In more than five years 3,468,318 4,810,894
9,621,786 10,293,076

13. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 682,350 682,350

Deferred
tax
£   
Balance at 1 January 2024 682,350
Balance at 31 December 2024 682,350

The deferred tax liability relates entirely to accelerated capital allowances. It is unknown when the provision will be realised as a liability.

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
100,000 Ordinary £1 100,000 100,000

All shares have equal voting rights, equal dividend rights and equal rights on winding up.

15. RESERVES
Retained
earnings
£   

At 1 January 2024 5,875,842
Profit for the year 6,664,605
Dividends (5,875,842 )
At 31 December 2024 6,664,605

16. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The total contributions for the year ended 31 December 2024 were £415,864 (2023: £367,650) and there was an outstanding balance of £NIL at the balance sheet date (2023: £NIL).

SIMON, KUCHER & PARTNERS
STRATEGY & MARKETING
CONSULTANTS LIMITED (REGISTERED NUMBER: 04144765)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

17. ULTIMATE PARENT COMPANY

Simon Kucher & Co Holding GmbH (incorporated in Germany ) is regarded by the directors as being the company's ultimate parent company.

The registered office address of Simon Kucher & Co Holding GmbH is Willy-Brandt-Allee 13, 53113, Bonn, Germany.

The accounts of Simon Kucher & Co Holding GmbH are publicly available at the following website: www.bundesanzeiger.de.

18. RELATED PARTY DISCLOSURES

During the year the company had transactions with two companies under common control, Simon Kucher LLP, incorporated in Singapore, and Simon Kucher LLC, incorporated in the US. In addition, transactions were also made with a partially owned subsidiary, Simon Kucher & Partners Strategy & Marketing Consultants AB, who are incorporated in Sweden. A summary of transactions can be found below:

Simon Kucher LLP 31.12.2024 31.12.2023
£ £
Sales 495 3,726
Purchases 56,758 125,444
Balance owed from 495 2,708
Balance owed to 25,290 168,446

Simon Kucher LLC
Sales 2,707,844 2,060,858
Purchases 1,982,292 2,008,332
Balance owed from 1,695,424 489,535
Balance owed to 1,288,944 1,018,545

Simon Kucher & Partners Strategy & Marketing Consultants AB
Sales 1,737 77,964
Purchases 4,234 867
Balance owed (to)/from 1,819 (890 )

The balances owed to the above companies have no fixed repayment date and are not subject to interest repayments.

19. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.