G. Simpson (Builders) Limited

	Page
Company Information	1
Strategic Report	2
Director's Report	3—4
Independent Auditor's Report	5—7
Statement of Income and Retained Earnings	8
Balance Sheet	9
Statement of Cash Flows	10
Notes to the Statement of Cash Flows	11
Notes to the Financial Statements	12—21

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Strategic Report

For The Year Ended 31 March 2025

Strategic Report

The director presents his strategic report for the year ended 31 March 2025.

Review of the Business

2024/2025 was a strong year for G Simpson Builders Limited, marked by growth in residential and commercial construction and our S1 floor screed division. We achieved higher revenue and profitability, thanks to our team’s commitment to delivering quality projects on time and on budget.

Principal Risks and Uncertainties

We face challenges including market competition, contract negotiations, and regulations. Our focus on quality, reliability, and innovation helps maintain our edge.

· Liquidity remains strong, with overdraft facilities unused.

· Credit Risk is managed through credit checks and a diverse client base.

· Energy Costs are being reduced through efficient equipment and renewable energy.

· Materials and Labour stability is supported by supplier ties and staff training. We remain committed to sound risk management to support growth and financial health.

Key Performance Indicators

The company tracks several key performance indicators to assess its performance, including turnover, gross profit margin and profit before tax.

On behalf of the board

Mr Gordon Simpson

Director

29/08/2025

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G. Simpson (Builders) Limited

Company No. SC259102

Director's Report For The Year Ended 31 March 2025

Director's Report

The director presents his report and the financial statements for the year ended 31 March 2025.

Principal Activity

In 2024/2025, the company focused on residential, commercial, and industrial construction, alongside concrete screed services—securing new contracts through strong delivery and reputation.

Future Developments

We aim to build on our success by:

1. Investing in sustainability and digital tools

2. Enhancing team development and safety

3. Growing partnerships with suppliers

4. Supporting community initiatives

5. Improving profitability through efficiency

6. Increasing use of renewable energy and EVs

Dividends

The value of dividends paid amounted to £25,518 .

The director recommended a final dividend of £NIL .

Directors

The director who held office during the year was as follows:

Mr Gordon Simpson

Post Balance Sheet Events

Several major contracts have been secured, strengthening our 2025 forward order book.

Acknowledgements

I would like to thank the entire team at G Simpson Builders Limited for their hard work, dedication, and professionalism. Their efforts have been key to our success and continued growth. With a clear strategy, a strong order book, and a talented workforce, we are well-positioned for the year ahead.

Statement of Director's Responsibilities

The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the director 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 the financial statements the director is required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is 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. He is 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.

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G. Simpson (Builders) Limited

Director's Report (continued)

For The Year Ended 31 March 2025

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Director's Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors

The auditors, A9 Accountancy Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr Gordon Simpson

Director

29/08/2025

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Independent Auditor's Report

to the Members of

G. Simpson (Builders) Limited

Independent Auditor's Report

Qualified opinion

We have audited the financial statements of G. Simpson (Builders) Limited (the ‘company’) for the year ended 31 March 2025 which comprise of the Statement of Income and Retained Earnings, Balance Sheet, Statement of Cash Flows and notes to the financial statements, including 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 March 2025, 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 qualified opinion

The audit opinion for the year ended 31 March 2024 was qualified due to the inability to obtain sufficient, appropriate audit evidence in respect of the costs associated with construction contracts and their related balances as at 31 March 2024. This limitation arose from the unavailability of retrospective information from the Company’s reporting system and incomplete data at the prior year-end.

As a result, we were unable to satisfy ourselves regarding the accuracy of the opening balances related to construction contract costs as at 1 April 2024.

Although we were able to obtain sufficient, appropriate audit evidence in respect of the construction contract costs and their related balances for the year ended 31 March 2025, we were unable to determine whether adjustments might have been necessary in respect of the results for the current year that derive from the opening balances.

Our opinion for the year ended 31 March 2025 is therefore qualified solely in respect of this matter.

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 Auditor 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 from when the financial statements are authorised for issue.

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 other information comprises the information included in the Strategic and Director’s report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information contained within the Strategic and Director’s report. 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.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material 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 material 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:

...CONTINUED

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Independent Auditor's Report (continued)

to the Members of

G. Simpson (Builders) Limited

Conclusions Relating to Going Concern - continued

• the information given in the strategic report and the director’s report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the director’s report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the director’s report.

We have nothing to report in respect of the following matters in relation to which 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 the director

As explained more fully in the director’s responsibilities statement, the director is 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 director determines is 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 director is 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 director either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor 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 an auditor’s report 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.

The extent to which out procedures are capable of detecting irregularities, including fraud

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:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The most relevant frameworks we identified include:

• United Kingdom Generally Accepted Accounting Practice

• Companies Act 2006

• Corporation Tax legislation

• VAT legislation

• Health and safety

We gained an understanding of how the company is complying with these laws and regulations by making enquiries of management. We corroborated these enquiries through our review of relevant correspondence, certifications and management meeting minutes.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by meeting with management to understand where it was considered there was susceptibility to fraud. This evaluation also considered how management were remunerated and whether this provided an incentive for fraudulent activity. We considered the overall control environment and how management oversee the implementation and operation of controls. In areas of the financial statements where risks were considered to be higher, we performed procedures to address each identified risk.

The following procedures were performed to provide reasonable assurance that the financial statements were free of material fraud or error:

• Reviewing minutes of management meetings;

• Reviewing the level of and reasoning behind the company's procurement of legal and professional services;

• Performing audit work procedures over the risk of management override of controls, including testing of journal entries, evaluating the business rationale of significant transactions outside the normal course of business and reviewing judgements made by management in their calculation of accounting estimates for potential management bias.

...CONTINUED

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Independent Auditor's Report (continued)

to the Members of

G. Simpson (Builders) Limited

Conclusions Relating to Going Concern - continued

• Procedures to confirm the existence and completeness of revenue ensuring recognised in line with the company's accounting policies.

• Enquiries with management regarding the compliance with laws and regulations, including health and safety requirements.

Our audit procedures were designed to respond to the risk of material misstatements in the financial statements, recognising that the risk of not detecting a material misstatements due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve intentional concealment, forgery, collusion, omission or misrepresentation. There are inherent limitations in the audit procedures aperformed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities are available on the Financial Reporting Concil’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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 an auditor’s report 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.

Hollie Mackay-Bungaroo BSc CA (Senior Statutory Auditor)

for and on behalf of A9 Accountancy Limited , Statutory Auditor

17/09/2025

A9 Accountancy Limited

Elm House

Cradlehall Business Park

Inverness

IV2 5GH

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G. Simpson (Builders) Limited

Statement of Income and Retained Earnings

For The Year Ended 31 March 2025

Statement of Income and Retained Earnings

		2025	2024
	Notes	£	£
TURNOVER	3	12,064,209	11,856,667
Cost of sales		(7,511,418 )	(7,523,334 )

GROSS PROFIT		4,552,791	4,333,333

Administrative expenses		(4,086,094 )	(3,821,269 )
Other operating income		24,111	43,296
Other operating expenses		-	(100,000 )

OPERATING PROFIT	5	490,808	455,360
Profit on disposal of fixed assets		11,001	29,761
Other interest receivable and similar income	10	17,858	9,471
Interest payable and similar charges	11	(53,199 )	(36,021 )

PROFIT BEFORE TAXATION		466,468	458,571
Tax on Profit	12	(115,282 )	(120,236 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		351,186	338,335
OTHER COMPREHENSIVE INCOME FOR THE YEAR		-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR		351,186	338,335

RETAINED EARNINGS
As at 1 April 2024		2,423,734	2,185,399
Dividends paid		(25,518)	(100,000)
As at 31 March 2025		2,749,402	2,423,734

The Profit and Loss was prepared on basis that all operations are continuing operations.

The notes on pages 11 to 21 form part of these financial statements.

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G. Simpson (Builders) Limited

Balance Sheet

As At 31 March 2025

Balance Sheet

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	14		1,310,220		1,171,354
Investments	15		632,280		882,280

			1,942,500		2,053,634
CURRENT ASSETS
Stocks	16	1,368,879		789,577
Debtors	17	2,021,060		1,652,591
Cash at bank and in hand		963,759		1,443,499

		4,353,698		3,885,667
Creditors: Amounts Falling Due Within One Year	18	(2,664,972 )		(2,258,754 )

NET CURRENT ASSETS (LIABILITIES)			1,688,726		1,626,913

TOTAL ASSETS LESS CURRENT LIABILITIES			3,631,226		3,680,547

Creditors: Amounts Falling Due After More Than One Year	19		(611,851 )		(1,004,206 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	22		(269,962 )		(252,596 )

NET ASSETS			2,749,413		2,423,745

CAPITAL AND RESERVES
Called up share capital	24		11		11
Profit and Loss Account			2,749,402		2,423,734

SHAREHOLDERS' FUNDS			2,749,413		2,423,745

On behalf of the board

Mr Gordon Simpson

Director

29/08/2025

The notes on pages 11 to 21 form part of these financial statements.

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G. Simpson (Builders) Limited

Statement of Cash Flows

For The Year Ended 31 March 2025

Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash (used in)/generated from operations	1	(236,960 )	1,394,023
Interest paid		(53,199 )	(36,021 )
Tax (paid)/refunded		(89,103 )	295,462

Net cash (used in)/generated from operating activities		(379,262 )	1,653,464

Cash flows from investing activities
Purchase of tangible assets		(500,126 )	(494,489 )
Proceeds from disposal of tangible assets		15,700	53,984
Purchase of investment in subsidiary undertaking		-	(250,000 )
Proceeds from disposal of investment in subsidiary undertaking		250,000	-
Grants received		-	1,002
Interest received		17,858	9,471

Net cash used in investing activities		(216,568 )	(680,032 )

Cash flows from financing activities
Equity dividends paid		(25,518 )	(100,000 )
Repayment of bank borrowings		(16,326 )	-
Repayment of finance leases		170,960	95,918
Amount introduced by directors		-	12,326
Amount withdrawn by directors		(13,026)	-

Net cash generated from financing activities		116,090	8,244



(Decrease)/increase in cash and cash equivalents		(479,740 )	981,676
Cash and cash equivalents at beginning of year	2	1,443,499	461,823

Cash and cash equivalents at end of year	2	963,759	1,443,499

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G. Simpson (Builders) Limited

Notes to the Statement of Cash Flows

For The Year Ended 31 March 2025

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash (used in)/generated from operations

	2025	2024
	£	£
Profit for the financial year	351,186	338,335
Adjustments for:
Tax on profit	115,282	120,236
Interest expense	53,199	36,021
Interest income	(17,858 )	(9,471 )
Amortisation of intangible assets	-	1,025
Depreciation of tangible assets	356,561	326,076
Profit on disposal of tangible assets	(11,001)	(29,761)
Grant income	-	(1,002)
Movements in working capital:
(Increase)/decrease in stocks	(579,302 )	669,905
(Increase)/decrease in trade and other debtors	(367,769 )	207,887
Decrease in trade and other creditors	(137,258 )	(265,228 )

Net cash (used in)/generated from operations	(236,960 )	1,394,023

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	963,759	1,443,499

3. Analysis of changes in net funds

	As at 1 April 2024	Cash flows	As at 31 March 2025
	£	£	£
Cash at bank and in hand	1,443,499	(479,740)	963,759
Finance leases	(617,013)	(170,960)	(787,973)
Debts falling due within one year	(16,324 )	-	(16,324 )
Debts falling due after more than one year	(30,111)	16,326	(13,785)

	780,051	(634,374)	145,677

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G. Simpson (Builders) Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

G. Simpson (Builders) Limited is a private company, limited by shares, incorporated in Scotland, registered number SC259102 . The registered office is 23 Wellhouse, Beauly, IV4 7AS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.

2.2. Exemption From Preparing Consolidated Financial Statements

Under section 9.9A FRS 102 states "A subsidiary may be excluded from consolidation when its inclusion is not material for the purpose of giving a true and fair view (but two or more subsidiaries may be excluded only if they are not material taken together)". On this basis the accounts only refer to the parent undertaking.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Presentational currency and the level of rounding

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	not depreciated
Plant & Machinery	25% reducing balance
Motor Vehicles	4 years straight line
Fixtures & Fittings	3 years straight line

2.6. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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G. Simpson (Builders) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

2.8. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.9. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.10. Employee Benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock of fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.11. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

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G. Simpson (Builders) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.12. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

2.13. Construction Contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the

stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments

are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense

immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised as expenses in the

period in which they are incurred.

The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage

of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated

total contract costs.

3. Turnover

Analysis of turnover by class of business is as follows:

	2025	2024
	£	£
Housebuilding Services	12,064,209	11,856,667

Analysis of turnover by geographical market is as follows:

	2025	2024
	£	£
United Kingdom	12,064,209	11,856,667

	12,064,209	11,856,667

4. Other Operating Income

	2025	2024
	£	£
Grant income	-	1,002
Other operating income	24,111	42,294

	24,111	43,296

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G. Simpson (Builders) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Bad debts	-	(12,256)
Depreciation of tangible fixed assets	356,561	326,076
Amortisation of intangible fixed assets	-	1,025

6. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	23,490	16,450


Other Services
Taxation compliance service	1,950	1,950

7. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	2,407,226	2,286,246
Social security costs	230,908	220,081
Other pension costs	68,701	47,485

	2,706,835	2,553,812

8. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2025	2024
Office and administration	15	15
Construction staff	46	49

	61	64

9. Director's remuneration

	2025	2024
	£	£
Emoluments	9,096	8,840
Company contributions to money purchase pension schemes	20,000	-

	29,096	8,840

Page 15

Page 16

G. Simpson (Builders) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

10. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	17,858	9,471

11. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	23,104	18,258
Finance charges payable under finance leases and hire purchase contracts	30,095	17,763

	53,199	36,021

12. Tax on Profit

	Tax Rate		2025	2024
The tax charge on the profit for the year was as follows:
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	97,916	89,103
Deferred Tax
Deferred taxation			17,366	31,133


Total tax charge for the period			115,282	120,236


The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
			2025	2024
			£	£
Profit before tax			466,468	458,571

Tax on profit at 25% (UK standard rate)			116,618	114,643
Expenses not deductible for tax purposes			1,684	1,029
Short term timing differences			(20,386 )	(26,569 )
Difference in tax rates			17,366	31,133

Total tax charge for the period			115,282	120,236

Page 16

Page 17

G. Simpson (Builders) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

13. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	30,000

As at 31 March 2025	30,000

Amortisation
As at 1 April 2024	30,000

As at 31 March 2025	30,000

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

14. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 April 2024	191,066	1,181,887	1,160,728	69,115	2,602,796
Additions	58,040	315,274	121,249	5,563	500,126
Disposals	-	(43,000 )	(13,600 )	-	(56,600 )

As at 31 March 2025	249,106	1,454,161	1,268,377	74,678	3,046,322

Depreciation
As at 1 April 2024	19,470	794,542	565,251	52,179	1,431,442
Provided during the period	-	118,652	229,332	8,577	356,561
Disposals	-	(38,301 )	(13,600 )	-	(51,901 )

As at 31 March 2025	19,470	874,893	780,983	60,756	1,736,102

Net Book Value
As at 31 March 2025	229,636	579,268	487,394	13,922	1,310,220

As at 1 April 2024	171,596	387,345	595,477	16,936	1,171,354

15. Investments

	Subsidiaries
	£
Cost
As at 1 April 2024	882,280
Disposals	(250,000 )

As at 31 March 2025	632,280

Provision
As at 1 April 2024	-

As at 31 March 2025	-

...CONTINUED

Page 17

Page 18

G. Simpson (Builders) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Net Book Value
As at 31 March 2025	632,280

As at 1 April 2024	882,280

Subsidiaries

Details of the company's subsidiaries as at period ended 31 March 2025 are as follows:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Ian Elliot Limited	23 Wellhouse, Beauly, Highland, IV4 7AS	Ordinary	50.00%	-

The aggregate capital and reserves and the result for the year ended 31 March 2025 of the subsidiaries listed above was as follows:

	Capital and Reserves	Profit/(loss)
	£	£
Ian Elliot Limited	(39,401 )	(1,439 )

16. Stocks

	2025	2024
	£	£
Stock	6,001	6,001
Work in progress	1,362,878	783,576

	1,368,879	789,577

17. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	265,465	230,725
Amounts owed by group undertakings	831,870	787,181
Amounts owed by participating interests	382,425	148,194
Other debtors	541,300	486,491

	2,021,060	1,652,591

18. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	189,907	188,802
Trade creditors	629,681	597,208
Bank loans and overdrafts	16,324	16,324
Other creditors	959,764	323,060
Corporation tax	97,916	89,103
Taxation and social security	221,255	84,796
Accruals and deferred income	550,125	959,461

	2,664,972	2,258,754

Page 18

Page 19

G. Simpson (Builders) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Balance of bank loans are secured with a floating charge over all assets of the company £11,956 (2024 - £11,956).

Balance of bank loans of which are unsecured £4,368 (2024 - £4,368).

Obligations under hire purchase contracts are secured over the related assets.

19. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	598,066	428,211
Bank loans	13,785	30,111
Other creditors	-	545,884

	611,851	1,004,206

Balance of bank loans are secured with a floating charge over all assets of the company £11,287 (2024 - £25,379).

Balance of bank loans of which are unsecured £2,498 (2024 - £4,732).

Obligations under hire purchase contracts are secured over the related assets.

20. Loans

An analysis of the maturity of loans is given below:

	2025	2024
	£	£
Amounts falling due within one year or on demand:
Bank loans	16,324	16,324

	2025	2024
	£	£
Amounts falling due between one and five years:
Bank loans	13,785	30,111

21. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	189,907	188,802
Later than one year and not later than five years	598,066	428,211

	787,973	617,013

	787,973	617,013

22. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	269,962	252,596

Page 19

Page 20

G. Simpson (Builders) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

23. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 April 2024	252,596	252,596
Deferred taxation	17,366	17,366

Balance at 31 March 2025	269,962	269,962

24. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
11 Ordinary Shares of £ 1.00 each	11	11

25. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	-	38,218

	-	38,218

26. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £68,701 (2024: £47,485).

At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.

27. Directors Advances, Credits and Guarantees

Included within Creditors are the following loans from the director:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr Gordon Simpson	12,326	(110,247 )	97,921	-	(700 )

The above loan is unsecured, interest free and repayable on demand.

28. Dividends

	2025	2024
	£	£
On equity shares:
Final dividend paid	25,518	100,000

Page 20

Page 21

G. Simpson (Builders) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

29. Related Party Disclosures

Key management personnel (including directors) received compensation of £308,579 (2024: £270,044)

At the year end the company was due £831,870 (2024 - £787,181) from an entity in which the company has a participating interest. This amount was unsecured, interest free and has no fixed terms of repayment.

At the year end the company was due £382,425 (2024 - £148,194) from connected compaies. These amounts are unsecured, interest free and have no fixed terms of repayment.

Page 21

Director	Mr Gordon Simpson

Secretary	Mr Gordon Simpson

Company Number	SC259102

Registered Office	23 Wellhouse
	Beauly
	IV4 7AS

Accountants	Leitch Accountancy Services Limited
	ACCA
	3 Beech Avenue
	Inverness
	IV2 4NN

Auditors	A9 Accountancy Limited
	Elm House
	Cradlehall Business Park
	Inverness
	IV2 5GH