| REGISTERED NUMBER: |
| Payne, Simmons Limited |
| Abridged Financial Statements |
| for the Period 1 July 2024 to 31 March 2025 |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 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 |
| CURRENT ASSETS |
| Inventories |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Capital redemption reserve | 10 |
| Retained earnings | 10 |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the director and authorised for issue on |
| 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 |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| 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 |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2024 |
| Disposals | ( |
) | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 July 2024 |
| Charge for period |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 30 June 2024 |
| 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 |
| Rent deposit | 13,413 | - |
| Directors' current accounts | - | 200,000 |
| Tax |
| VAT |
| Deferred tax asset |
| Prepayments |
| Rent deposit | - | 13,413 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax | ( |
) |
| Social security and other taxes |
| Pension control account | 3,615 | 27,355 |
| Other creditors |
| Accrued expenses |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| 8. | DEFERRED TAX |
| £ |
| Credit to Income Statement during period | ( |
) |
| Balance at 31 March 2025 | ( |
) |
| 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: | £ | £ |
| Ordinary | £1 | 2,500 | 2,500 |
| 10. | RESERVES |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 July 2024 | 1,415,752 |
| Deficit for the period | ( |
) | ( |
) |
| Dividends | ( |
) | ( |
) |
| At 31 March 2025 | 1,109,748 |
| 11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 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 |
| £ | £ |
| Balance outstanding at start of period |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of period |
| 13. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Canim Fruit & Veg Ltd.. |
| The ultimate controlling party is |