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REGISTERED NUMBER: 02416705 (England and Wales)


Payne, Simmons Limited

Abridged Financial Statements

for the Period 1 July 2024 to 31 March 2025






Payne, Simmons Limited (Registered number: 02416705)






Contents of the Financial Statements
for the period 1 July 2024 to 31 March 2025




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Payne, Simmons Limited

Company Information
for the period 1 July 2024 to 31 March 2025







DIRECTOR: Mr A Maraslioglu





REGISTERED OFFICE: Unit 64-65, New Spitalfields Market
Sherrin Road
London
E10 5SH





REGISTERED NUMBER: 02416705 (England and Wales)





AUDITORS: Alton & Co
Chartered Accountants
& Statutory Auditors
239-241 Kennington Lane
London
SE11 5QU

Payne, Simmons Limited (Registered number: 02416705)

Statement of Financial Position
31 March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,288 68,120

CURRENT ASSETS
Inventories - 8,122
Debtors 5 1,093,480 417,769
Cash at bank and in hand 595,905 1,246,705
1,689,385 1,672,596
CREDITORS
Amounts falling due within one year 6 579,425 322,464
NET CURRENT ASSETS 1,109,960 1,350,132
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,112,248

1,418,252

CAPITAL AND RESERVES
Called up share capital 9 2,500 2,500
Capital redemption reserve 10 2,500 2,500
Retained earnings 10 1,107,248 1,413,252
SHAREHOLDERS' FUNDS 1,112,248 1,418,252

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement for the period ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 June 2025 and were signed by:





Mr A Maraslioglu - Director


Payne, Simmons Limited (Registered number: 02416705)

Notes to the Financial Statements
for the period 1 July 2024 to 31 March 2025

1. STATUTORY INFORMATION

Payne, Simmons 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

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

Turnover is generated from the ordinary activities of the business and is recognised when the customer takes delivery of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less any additional costs to sell.

Taxation
Taxation for the period 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 statement of financial position date.


Payne, Simmons Limited (Registered number: 02416705)

Notes to the Financial Statements - continued
for the period 1 July 2024 to 31 March 2025

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 (2024 - 11 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 July 2024 97,500 113,684 211,184
Disposals - (113,684 ) (113,684 )
At 31 March 2025 97,500 - 97,500
DEPRECIATION
At 1 July 2024 94,640 48,424 143,064
Charge for period 572 - 572
Eliminated on disposal - (48,424 ) (48,424 )
At 31 March 2025 95,212 - 95,212
NET BOOK VALUE
At 31 March 2025 2,288 - 2,288
At 30 June 2024 2,860 65,260 68,120

Payne, Simmons Limited (Registered number: 02416705)

Notes to the Financial Statements - continued
for the period 1 July 2024 to 31 March 2025

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 996,915 136,399
Rent deposit 13,413 -
Directors' current accounts - 200,000
Tax 69,351 54,466
VAT 9,024 2,829
Deferred tax asset 4,777 -
Prepayments - 10,662
Rent deposit - 13,413
1,093,480 417,769

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 505,133 99,914
Amounts owed to group undertakings 52,000 -
Tax (2,640 ) 134,948
Social security and other taxes 7,605 16,095
Pension control account 3,615 27,355
Other creditors - 936
Accrued expenses 13,712 43,216
579,425 322,464

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2025 2024
£    £   
Within one year 10,094 87,724
Between one and five years - 10,094
10,094 97,818

8. DEFERRED TAX
£   
Credit to Income Statement during period (4,777 )
Balance at 31 March 2025 (4,777 )

Payne, Simmons Limited (Registered number: 02416705)

Notes to the Financial Statements - continued
for the period 1 July 2024 to 31 March 2025

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
2,500 Ordinary £1 2,500 2,500

10. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 July 2024 1,413,252 2,500 1,415,752
Deficit for the period (66,004 ) (66,004 )
Dividends (240,000 ) (240,000 )
At 31 March 2025 1,107,248 2,500 1,109,748

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

The Report of the Auditors was unqualified.

Altan Kemal FCA FCCA (Senior Statutory Auditor)
for and on behalf of Alton & Co

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 March 2025 and the year ended 30 June 2024:

2025 2024
£    £   
Mr J R Alexander
Balance outstanding at start of period 200,000 -
Amounts advanced - 200,000
Amounts repaid (200,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 200,000

13. ULTIMATE CONTROLLING PARTY

The controlling party is Canim Fruit & Veg Ltd..

The ultimate controlling party is Mr A Maraslioglu.