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REGISTERED NUMBER: 02622705













Financial Statements

for the Year Ended 31 December 2024

for

R Simon (Dryers) Limited

R Simon (Dryers) Limited (Registered number: 02622705)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


R Simon (Dryers) Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: A G H Tummers
C S Ellis
E H P A Tummers





SECRETARY: L J Johnson





REGISTERED OFFICE: 3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX





REGISTERED NUMBER: 02622705





AUDITORS: Anderson Barrowcliff Limited
Statutory Auditor
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

R Simon (Dryers) Limited (Registered number: 02622705)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 5,165 21,665

CURRENT ASSETS
Stocks - 9,656
Debtors 4 258,861 277,395
Cash at bank and in hand 138,829 248,133
397,690 535,184
CREDITORS
Amounts falling due within one year 5 309,464 488,414
NET CURRENT ASSETS 88,226 46,770
TOTAL ASSETS LESS CURRENT
LIABILITIES

93,391

68,435

PROVISIONS FOR LIABILITIES 2,000 10,000
NET ASSETS 91,391 58,435

CAPITAL AND RESERVES
Called up share capital 8 536,938 536,938
Share premium 160,000 160,000
Retained earnings (605,547 ) (638,503 )
SHAREHOLDERS' FUNDS 91,391 58,435

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 15 April 2025 and were signed on its behalf by:





E H P A Tummers - Director


R Simon (Dryers) Limited (Registered number: 02622705)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. ACCOUNTING POLICIES

General information and basis of preparation
R Simon (Dryers) Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of 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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going Concern
The company's directors are of the opinion that the company is a going concern. This is based on their knowledge of the group's global strategy and an underlying assumption of the continued support of the group. The directors have received written confirmation of such support and on that basis, believe it appropriate for the accounts to be prepared on a going concern basis.

Turnover
Turnover is stated net of VAT and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover for the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - over the period of the lease
Plant and machinery - 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


R Simon (Dryers) Limited (Registered number: 02622705)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

1. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Foreign currencies
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

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.

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.

Fixed asset investments
The investment in the joint venture company is stated at cost less provision for permanent diminution in value. Cost is purchase price including acquisition expenses.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Warranties
Provision is made for the estimated liability on all products still under warranty, including claims already received. The provision is based on past experience of claims during the warranty period.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

R Simon (Dryers) Limited (Registered number: 02622705)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 43,503 156,415 41,138 45,620 286,676
Disposals (43,503 ) (156,415 ) (41,138 ) (4,620 ) (245,676 )
At 31 December 2024 - - - 41,000 41,000
DEPRECIATION
At 1 January 2024 43,501 142,897 39,988 38,625 265,011
Charge for year - 891 409 1,728 3,028
Eliminated on disposal (43,503 ) (144,569 ) (40,707 ) (4,518 ) (233,297 )
Impairments 2 781 310 - 1,093
At 31 December 2024 - - - 35,835 35,835
NET BOOK VALUE
At 31 December 2024 - - - 5,165 5,165
At 31 December 2023 2 13,518 1,150 6,995 21,665

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 92,981 144,957
Amounts recoverable on contract 158,099 98,835
Other debtors 7,781 33,603
258,861 277,395

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 19,111 67,623
Amounts owed to group undertakings 221,871 306,142
Taxation and social security 7,343 5,572
Other creditors 61,139 109,077
309,464 488,414

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 26,000

R Simon (Dryers) Limited (Registered number: 02622705)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. SECURED DEBTS

A debenture exists in favour of HSBC UK Bank plc including Fixed Charge over all present freehold and leasehold property; First Fixed Charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and First Floating Charge over all assets and undertaking both present and future.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
536,938 Ordinary £1 536,938 536,938

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Helen Wilson FCA (Senior Statutory Auditor)
for and on behalf of Anderson Barrowcliff Limited

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme for the benefit of its employees and Directors.

The pension charge for the year was £15,649 (2023 - £16,689). Contributions outstanding at the year end amounted to £1,457 (2023 - £294).

11. RELATED PARTY DISCLOSURES

As part of the normal course of business, the company undertakes trading transactions with other group companies. In the opinion of the directors these transactions are undertaken on normal commercial terms.

During the year the company purchased goods from Tummers Machinebouw B V, a group company, to the value of £738,525 (2023: £1,069,342) and sold goods to the value of £316,032 (2023: £193,345). The total net amount owed to Tummers Machinebouw B V at the year end was £221,871 (2023: £306,142).

12. PARENT COMPANY

The parent company is Tummers Beheer B.V., registered in The Netherlands. The registered office is Ampèreweg, 4631 SP, Hoogerheide, The Netherlands. Copies of the consolidated financial statements are available from the same address.

The ultimate parent company is Stichting Administratiekantoor Tummers Beheer, registered in The Netherlands. The registered office is Ampèreweg, 4631 SP, Hoogerheide, The Netherlands. Copies of the consolidated financial statements are available from the same address.