REGISTERED NUMBER: 00459409 (England and Wales)

SIMPSON'S BEVERAGE SUPPLY COMPANY

LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Income and Retained Earnings

8

Balance Sheet

9

Notes to the Financial Statements

10

DIRECTORS:

G Simpson

J Simpson

C Simpson

J Simpson

A Simpson

SECRETARY:

J Simpson

REGISTERED OFFICE:

Unit 1 Chiswick Grove

Blackpool

Lancashire

FY3 9EU

REGISTERED NUMBER:

00459409 (England and Wales)

AUDITORS:

Rushtons

Chartered Accountants

Statutory Auditors

Avroe House

Avroe Crescent

Blackpool Business Park

Blackpool

Lancashire

FY4 2DP

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

The company provides services to the drinks industry, which include the innovation, manufacture and supply of a wide variety of flavours of drinks. We are based in the North West of England and our services are available nationwide and overseas.

We have maintained and built on our turnover and gross profit from a solid base of 2023. We have invested further in personnel during 2024 to support further growth into 2025 and beyond, this upfront investment has impacted our net profit margin in 2024. Our commitment to quality, innovation, and sustainability continues to drive our success and future growth.

Accreditations

We have retained our BRCGS Global Food Safety Standard certification over both sites, demonstrating our ongoing commitment to high standards in food safety and operational criteria.

Our ISO 9001 certification reflects our dedication to quality management principles, ensuring we consistently meet customer and regulatory requirements.

We have retained our Investors in People Platinum accreditation. This prestigious recognition reflects our commitment to leading, supporting, and managing people well for sustainable results. It underscores our dedication to continuous improvement and excellence in people management.

Charitable Activities and Community Engagement

We remain committed to our charitable activities, encouraging staff participation in fundraising and community service initiatives. This not only enhances our corporate social responsibility profile but also fosters a positive and engaged workforce.

Key Performance Indicators:

The company measures its performance by monitoring performance against an annual and monthly budget. Monthly management accounts are produced, comparing actual performance to both budget and last years results. The below constitutes the key performance indicators used within the business.

2024

2023

% Change

£

£

Turnover

20,424

20,224

1%

Gross Profit

8,365

7,786

7%

Profit before tax

3,375

3,614

(7%)

PRINCIPAL RISKS AND UNCERTAINTIES

The directors have considered the principal risks and uncertainties which face the business and are satisfied they have systems in place to address these risks. These matters are reviewed at regular board meetings.

Supply Chain Stability

We are open to potential supply disruptions caused by geopolitical events such as the Ukraine war, Israel/Palestine conflict, and disruptions in the Red Sea. Despite these global supply chain challenges, we have maintained stability in our supply lines by increasing our holding of critical ingredients in stock. This strategic stockpiling safeguards our customers from the effects of this supply chain disruption.

Health and Safety

The company operates under stringent food safety regulations, as such the risk is always posed of a breach of these regulations. The directors review the regulations monthly, and ensure that for each a safeguard has been implemented. This provides assurance that the company is compliant with all regulatory requirements.

Credit Risks

Credit checks are performed where possible on all customers to mitigate the credit risks that arise on credit extensions to customers. The directors have no concern in this capacity.

ON BEHALF OF THE BOARD:

A Simpson - Director

23 September 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

DIVIDENDS

The directors have declared dividends totalling £1,740,000 (2023: £2,340,000) during the year.

RESEARCH AND DEVELOPMENT

The company continues to develop new flavours and types of beverages in their laboratory. Over the past two years, we have heavily invested in our New Product Development (NPD) team, doubling its capacity. This investment underscores our commitment to innovation and our focus on bringing new, high-quality products to the market.

FUTURE DEVELOPMENTS

The strategic developments and achievements of the past year position us strongly for future growth. Our expanded production capacity, robust supply chain, investment in innovation, and commitment to quality and sustainability will continue to drive our success. We remain focused on leveraging these strengths to meet the evolving needs of our customers and stakeholders. By focusing on these areas, we aim to sustain our growth trajectory and reinforce our market leadership. The strategic report highlights our dedication to quality, innovation, and sustainability, setting a solid foundation for continued success in the coming years.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

G Simpson

J Simpson

C Simpson

J Simpson

A Simpson

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors 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 these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are 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. They are 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Rushtons, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A Simpson - Director

23 September 2025

Opinion

We have audited the financial statements of Simpson's Beverage Supply Company Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of 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 December 2024 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 opinion

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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors 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 or the Report of the Directors.

We have nothing to report in respect of the following matters where 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 directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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 our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential risks related to irregularities

In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered a number of issues, such as the nature of the company's industry, their control environment and business performance. We also discussed amongst our engagement team how and where fraud might occur and any potential indicators of fraud.

We obtained an understanding of the legal and regulatory framework that the company operates in and focussed our attention on any laws and regulations which might be considered as "showstoppers". We also looked at internal controls in place at the company, established to mitigate risks related to fraud or non-compliance with laws and regulations.

In response to other identified risks, we reviewed the financial statement disclosures, we made enquiries of the company as to potential litigation and claims, we performed analytical procedures to look for unusual trends or unexpected relationships and we read any available meeting minutes.

We also addressed the risk of fraud through management override of controls by testing appropriate journal entries and other adjustments. We also assessed accounting estimates and considered any significant transactions that might be considered unusual in the normal course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.

Adam Calvert ACA (Senior Statutory Auditor)

for and on behalf of Rushtons

Chartered Accountants

Statutory Auditors

Avroe House

Avroe Crescent

Blackpool Business Park

Blackpool

Lancashire

FY4 2DP

24 September 2025

TURNOVER

4

20,423,991

20,224,085

Cost of sales

12,059,408

12,437,839

GROSS PROFIT

8,364,583

7,786,246

Administrative expenses

4,905,900

4,043,894

3,458,683

3,742,352

Other operating income

35,546

1,771

OPERATING PROFIT

6

3,494,229

3,744,123

Interest receivable and similar income

34,105

20,446

3,528,334

3,764,569

Interest payable and similar expenses

8

153,002

150,132

PROFIT BEFORE TAXATION

3,375,332

3,614,437

Tax on profit

9

862,534

795,130

PROFIT FOR THE FINANCIAL YEAR

2,512,798

2,819,307

Retained earnings at beginning of year

3,627,667

3,148,360

Dividends

10

(1,740,000

)

(2,340,000

)

RETAINED EARNINGS AT END OF YEAR

4,400,465

3,627,667

FIXED ASSETS

Tangible assets

11

2,670,428

2,718,392

CURRENT ASSETS

Stocks

12

2,165,533

2,252,415

Debtors

13

2,659,586

2,663,301

Cash at bank and in hand

550,675

493,395

5,375,794

5,409,111

CREDITORS

Amounts falling due within one year

14

2,697,971

3,742,192

NET CURRENT ASSETS

2,677,823

1,666,919

TOTAL ASSETS LESS CURRENT LIABILITIES

5,348,251

4,385,311

CREDITORS

Amounts falling due after more than one year

15

(395,578

)

(213,986

)

PROVISIONS FOR LIABILITIES

18

(549,208

)

(540,658

)

NET ASSETS

4,403,465

3,630,667

CAPITAL AND RESERVES

Called up share capital

19

2,500

2,500

Other reserves

20

500

500

Retained earnings

20

4,400,465

3,627,667

SHAREHOLDERS' FUNDS

4,403,465

3,630,667

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

A Simpson - Director

1.	STATUTORY INFORMATION

Simpson's Beverage Supply Company 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.	STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

Simpsons Beverage Supply Company Ltd meets the definition of a qualifying entity under FRS102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its separate financial statements. Simpsons Beverage Supply Company Ltd is consolidated in the financial statements of its parent, Simpsons Holdings Limited, which may be obtained from Companies House. Exemptions have been taken in these separate company financial statements in relation to the remuneration of key management personnel, financial instruments and presentation of a cash flow statement.

As such, these financial statements show information about Simpsons Beverage Supply Company Limited as a single entity.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

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

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

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

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

20% on reducing balance

Long leasehold

-

20% on reducing balance

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

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

Stock is valued on a first in, first out (FIFO) basis.

Taxation

Taxation for the year 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 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

4.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2024

2023

£

£

United Kingdom

19,418,112

19,288,885

Europe

885,719

902,726

Rest of the World

120,160

32,474

20,423,991

20,224,085

5.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

2,495,534

1,944,242

Social security costs

208,813

169,294

Other pension costs

369,117

406,794

3,073,464

2,520,330

The average number of employees during the year was as follows:

2024

2023

Directors

5

5

Production

59

49

Administration & Marketing

10

10

74

64

2024

2023

£

£

Directors' remuneration

65,472

67,326

Directors' pension contributions to money purchase schemes

332,000

375,372

6.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Other operating leases

248,268

295,909

Depreciation - owned assets

530,714

471,568

Depreciation - assets on hire purchase contracts

27,003

32,517

Loss on disposal of fixed assets

1,275

8,161

Foreign exchange differences

4,713

884

7.	AUDITORS' REMUNERATION

2024

2023

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

13,200

12,000

Auditors' remuneration for non audit work

29,516

33,648

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Bank loan interest

17,764

26,431

Loan

123,703

105,618

Hire purchase

11,535

18,083

153,002

150,132

9.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2024

2023

£

£

Current tax:

UK corporation tax

853,984

717,266

Under/Over provision of tax

-

39,159

Total current tax

853,984

756,425

Deferred tax

8,550

38,705

Tax on profit

862,534

795,130

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024

2023

£

£

Profit before tax

3,375,332

3,614,437

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 25%)

843,833

903,609

Effects of:

Expenses not deductible for tax purposes

6,683

1,256

Capital allowances in excess of depreciation

-

(142,483

)

Depreciation in excess of capital allowances

15,710

-

Adjustments to tax charge in respect of previous periods

(12,242

)

39,159

Origination and reversal of tax differences

8,550

38,705

Marginal relief

-

(45,116

)

Total tax charge

862,534

795,130

10.

DIVIDENDS

2024

2023

£

£

Ordinary shares of £1 each

Interim

1,740,000

2,340,000

11.	TANGIBLE FIXED ASSETS

Improvements

to

Long

Plant and

property

leasehold

machinery

£

£

£

COST

At 1 January 2024

1,147,340

25,969

3,443,760

Additions

60,949

-

398,315

Disposals

-

-

(46,092

)

At 31 December 2024

1,208,289

25,969

3,795,983

DEPRECIATION

At 1 January 2024

523,726

6,601

1,516,622

Charge for year

121,022

3,538

386,850

Eliminated on disposal

-

-

(27,405

)

At 31 December 2024

644,748

10,139

1,876,067

NET BOOK VALUE

At 31 December 2024

563,541

15,830

1,919,916

At 31 December 2023

623,614

19,368

1,927,138

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

116,847

140,733

4,874,649

Additions

-

71,291

530,555

Disposals

(31,657

)

-

(77,749

)

At 31 December 2024

85,190

212,024

5,327,455

DEPRECIATION

At 1 January 2024

45,031

64,277

2,156,257

Charge for year

15,904

30,403

557,717

Eliminated on disposal

(29,542

)

-

(56,947

)

At 31 December 2024

31,393

94,680

2,657,027

NET BOOK VALUE

At 31 December 2024

53,797

117,344

2,670,428

At 31 December 2023

71,816

76,456

2,718,392

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 January 2024

and 31 December 2024

183,946

DEPRECIATION

At 1 January 2024

36,103

Charge for year

27,003

At 31 December 2024

63,106

NET BOOK VALUE

At 31 December 2024

120,840

At 31 December 2023

147,843

12.

STOCKS

2024

2023

£

£

Stocks

2,165,533

2,252,415

13.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

2,385,563

2,506,241

Other debtors

10,000

10,000

Prepayments

264,023

147,060

2,659,586

2,663,301

14.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other loans (see note 16)

437,500

1,058,750

Hire purchase contracts (see note 17)

61,425

60,190

Trade creditors

840,289

785,635

Amounts owed to group undertakings

430,395

1,218,220

Tax

357,309

149,882

Social security and other taxes

456,832

415,028

Other creditors

428

-

Accrued expenses

113,793

54,487

2,697,971

3,742,192

15.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other loans (see note 16)

379,167

141,667

Hire purchase contracts (see note 17)

16,411

72,319

395,578

213,986