JOHN SIMPSON (CARLISLE) LIMITED


Directors	SIMPSON, Andrea
	SIMPSON, Mark


Registered Address	1 Blencowe Street
	Carlisle
	CA2 5XP


Registered Number	00504677 (England and Wales)

Statement of Financial Position
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		28,835		29,428
			28,835		29,428
Current assets
Stocks	5	299		315
Debtors	6	797		5
Cash at bank and on hand		998		2,082
		2,094		2,402
Creditors amounts falling due within one year	7	(43,445)		(47,763)
Net current assets (liabilities)			(41,351)		(45,361)
Total assets less current liabilities			(12,516)		(15,933)
Provisions for liabilities	8		(1,255)		(1,255)
Net assets			(13,771)		(17,188)
Capital and reserves
Called up share capital			300		300
Other reserves			21,540		22,139
Profit and loss account			(35,611)		(39,627)
Shareholders' funds			(13,771)		(17,188)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 29 September 2025, and are signed on its behalf by:

SIMPSON, Mark
Director
Registered Company No. 00504677

JOHN SIMPSON (CARLISLE) LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	At the balance sheet date, the company's balance sheet was overdrawn showing a net deficit. The major creditor of the company is the directors. The director has confirmed that they will not demand repayment of this loan if it would prejudice the payment of external creditors. For this reason, the company continues to adopt the going concern basis for these financial statements

	Turnover policy
	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/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 policy

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/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

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.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Land and buildings	2
	Plant and machinery	15

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	1		1

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Total
	£	£	£
Cost or valuation
At 01 January 24	50,000	915	50,915
At 31 December 24	50,000	915	50,915
Depreciation and impairment
At 01 January 24	20,604	883	21,487
Charge for year	588	5	593
At 31 December 24	21,192	888	22,080
Net book value
At 31 December 24	28,808	27	28,835
At 31 December 23	29,396	32	29,428

4.	Revaluation of property, plant and equipment
	Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers. Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

Revaluation of property, plant and equipment

Individual freehold and leasehold properties are carried at current year value at fair value at the date
of the revaluation less any subsequent accumulated depreciation and subsequent accumulated
impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying
amount does not differ materially from that which would be determined using fair value at the
reporting date.

Fair values are determined from market based evidence normally undertaken by professionally
qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed
the previously recognised gains or reflect a clear consumption of economic benefits, in which case
the excess losses are recognised in profit or loss.

5.	Stocks

	2024	2023
	£	£
Raw materials and consumables	299	315
Total	299	315

6.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	725	-
Other debtors	72	5
Total	797	5

7.	Creditors: amounts due within one year

	2024	2023
	£	£
Taxation and social security	-	568
Other creditors	41,896	45,771
Accrued liabilities and deferred income	1,549	1,424
Total	43,445	47,763

8.	Provisions for liabilities
	The provision for deferred tax arises in respect of fair value on revalued tangible assets.

	2024	2023
	£	£
Net deferred tax liability (asset)	1,255	1,255
Total	1,255	1,255

9.	Related party transactions
	During the year the directors had a loan account with the company. At the balance sheet date, the company owed the directors £45,770 (2023 - £45,771). No interest was charged on this loan, which is secured and repayable on demand.