2024-04-012025-03-312025-03-31false03948869Simon Safety & Lifting Centre 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Simon Safety & Lifting Centre Limited

Registered Number
03948869
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

Simon Safety & Lifting Centre Limited
Company Information
for the year from 1 April 2024 to 31 March 2025

Directors

Mr S M Ashton
Mr M Smith
Mrs W Ashton

Company Secretary

Mr M Smith

Registered Address

Unit 73
Honeyborough Industrial Estate
Neyland Milford Haven
SA73 1SE

Registered Number

03948869 (England and Wales)
Simon Safety & Lifting Centre Limited
Balance Sheet as at
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets4196,572254,650
196,572254,650
Current assets
Stocks51,270,5621,259,864
Debtors6510,426484,434
Cash at bank and on hand395,031356,908
2,176,0192,101,206
Creditors amounts falling due within one year7(889,998)(792,407)
Net current assets (liabilities)1,286,0211,308,799
Total assets less current liabilities1,482,5931,563,449
Creditors amounts falling due after one year8(16,669)(116,668)
Provisions for liabilities9(41,320)(52,263)
Net assets1,424,6041,394,518
Capital and reserves
Called up share capital100100
Profit and loss account1,424,5041,394,418
Shareholders' funds1,424,6041,394,518
The financial statements were approved and authorised for issue by the Board of Directors on 3 June 2025, and are signed on its behalf by:
Mr S M Ashton
Director
Registered Company No. 03948869
Simon Safety & Lifting Centre Limited
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on tangible fixed assets, except leasehold improvements where, in the opinion of the directors, the residual value of the property is at least cost and therefore there is no depreciation to provide; as follows:

Reducing balance (%)
Plant and machinery20
Vehicles20
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20252024
Average number of employees during the year1921
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 24644,438
Additions10,951
Disposals(29,658)
At 31 March 25625,731
Depreciation and impairment
At 01 April 24389,788
Charge for year45,788
On disposals(6,417)
At 31 March 25429,159
Net book value
At 31 March 25196,572
At 31 March 24254,650
5.Stocks

2025

2024

££
Raw materials and consumables1,270,5621,259,864
Total1,270,5621,259,864
6.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables403,226395,254
Other debtors60,63141,894
Prepayments and accrued income46,56947,286
Total510,426484,434
7.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables475,840489,170
Bank borrowings and overdrafts100,000100,000
Taxation and social security91,24770,533
Other creditors131,581131,374
Accrued liabilities and deferred income91,3301,330
Total889,998792,407
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts16,669116,668
Total16,669116,668
9.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)41,32052,263
Total41,32052,263
10.Further information regarding the company's financial position
On 10 November 2021 Simon Safety & Lifting Centre Limited became a wholly owned subsidiary of Ashton Innovations Limited, a company incorporated in England and Wales.