REGISTERED NUMBER: 11869373 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2025

for

SIM Switchgear Aberdeen Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

L M Rowland

M Medaffar

Miss D Pantazi

REGISTERED OFFICE:

Unit 2

Sedgley Park Trading Estate

Prestwich

Manchester

M25 9WD

REGISTERED NUMBER:

11869373 (England and Wales)

ACCOUNTANTS:

PKW LLP Chartered Accountants

Cloth Hall

150 Drake Street

Rochdale

Lancashire

OL16 1PX

FIXED ASSETS

Tangible assets

4

82,959

69,689

CURRENT ASSETS

Stocks

6,261

111,893

Debtors

5

607,380

233,133

Cash at bank

11,782

24,813

625,423

369,839

CREDITORS

Amounts falling due within one year

6

545,643

421,110

NET CURRENT ASSETS/(LIABILITIES)

79,780

(51,271

)

TOTAL ASSETS LESS CURRENT LIABILITIES

162,739

18,418

CAPITAL AND RESERVES

Called up share capital

7

1,000

1,000

Retained earnings

161,739

17,418

SHAREHOLDERS' FUNDS

162,739

18,418

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2025 and were signed on its behalf by:

L M Rowland - Director

1.	STATUTORY INFORMATION

SIM Switchgear Aberdeen 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.

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.

Turnover

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

Revenue from contract work is recognised based on the achievement of contractually agreed milestones. Where a contract contains specific performance obligations linked to milestones, revenue is recognised when those milestones are achieved and the outcome of the contract can be measured reliably.

If the outcome of a contract cannot be estimated reliably, revenue is recognised to the extent of recoverable costs incurred.

Revenue recognised reflects the transfer of control of goods or services to the customer at the point in time when the milestone is achieved, which is generally evidenced by customer approval, delivery, or acceptance documentation.

Any amounts invoiced in advance of milestone achievement are deferred and recognised as a liability in the balance sheet (deferred income) until the relevant performance obligations have been met.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost, 25% on reducing balance and 20% on cost

Stock and work in progress

Stock is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

Work in progress is recognised in the balance sheet based on the relationship between actual costs incurred to date and the expected proportion of total project costs attributable to the completed milestones:

Where actual costs incurred are less than the proportion of total costs expected to be incurred at the milestone (based on estimated margin), the difference is recognised as a prepayment (asset);

Where actual costs incurred are greater than the proportion of total costs expected at the milestone, the difference is recognised as an accrual (liability).

Costs are recognised in profit or loss in proportion to the revenue recognised at each milestone. This ensures matching of costs with revenue based on the estimated overall project margin. The estimated margin is reviewed regularly, and any changes in estimates are reflected in the period in which they become known.

This approach ensures that costs are appropriately matched to revenue and that timing differences between cost incurrence and milestone completion are reflected in the financial statements.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

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 year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2024

102,751

Additions

39,635

At 31 May 2025

142,386

DEPRECIATION

At 1 June 2024

33,062

Charge for year

26,365

At 31 May 2025

59,427

NET BOOK VALUE

At 31 May 2025

82,959

At 31 May 2024

69,689

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

481,573

138,837

Amounts owed by group undertakings

36,092

31,684

Other debtors

89,715

62,612

607,380

233,133

At the reporting end date, included in other debtors is £18,900 relating to a bond guarantee which is repayable upon satisfactory completion of contractual obligations with a customer.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

956

7,009

Trade creditors

144,847

142,406

Amounts owed to group undertakings

161,854

126,365

Taxation and social security

12,475

8,469

Other creditors

225,511

136,861

545,643

421,110

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary

1

1,000

1,000

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the reporting end date, directors owed the company £11,776 (2024: £176). The amount is repayable on demand.