REGISTERED NUMBER: SC135805 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

SIMMERS (ARDMEDDEN) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E J Simmers

A G Simmers

SECRETARY:

Mackinnons Solicitors LLP

REGISTERED OFFICE:

14 Carden Place

Aberdeen

AB10 1UR

REGISTERED NUMBER:

SC135805 (Scotland)

FIXED ASSETS

Intangible assets

5

446

892

Tangible assets

6

2,464,998

2,570,141

Investments

7

18,000

18,000

Investment property

8

775,000

805,948

3,258,444

3,394,981

CURRENT ASSETS

Stocks

111,131

112,451

Debtors

9

272,749

255,498

Cash at bank and in hand

172,188

86,941

556,068

454,890

CREDITORS

Amounts falling due within one year

10

1,171,862

1,058,982

NET CURRENT LIABILITIES

(615,794

)

(604,092

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,642,650

2,790,889

CREDITORS

Amounts falling due after more than one year

11

(464,609

)

(623,885

)

PROVISIONS FOR LIABILITIES

(313,038

)

(326,895

)

NET ASSETS

1,865,003

1,840,109

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Share premium

1,315,531

1,315,531

Revaluation reserve

304,699

284,699

Other reserves

319,269

319,269

Retained earnings

(75,496

)

(80,390

)

SHAREHOLDERS' FUNDS

1,865,003

1,840,109

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2025 and were signed on its behalf by:

A G Simmers - Director

1.	STATUTORY INFORMATION

Simmers (Ardmedden) Limited is a private company, limited by shares , registered in Scotland. 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

Going Concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors consider that there are no estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

BPS Entitlements is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Land and buildings

-

Straight line over 50 years

Plant and machinery etc

-

25% on reducing balance, 15% on reducing balance, Straight line over 15 years and Straight line over 20 years

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 useful lives or the term of the lease, whichever is the shorter.

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

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.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 June 2023

and 31 May 2024

2,229

AMORTISATION

At 1 June 2023

1,337

Charge for year

446

At 31 May 2024

1,783

NET BOOK VALUE

At 31 May 2024

446

At 31 May 2023

892

6.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 June 2023

1,698,787

2,968,888

4,667,675

Additions

-

73,698

73,698

At 31 May 2024

1,698,787

3,042,586

4,741,373

DEPRECIATION

At 1 June 2023

154,299

1,943,235

2,097,534

Charge for year

19,345

159,496

178,841

At 31 May 2024

173,644

2,102,731

2,276,375

NET BOOK VALUE

At 31 May 2024

1,525,143

939,855

2,464,998

At 31 May 2023

1,544,488

1,025,653

2,570,141

Land and buildings includes property with a deemed cost on transition to FRS102 of £1,100,000. The historic cost of this property was £759,546.

Included within the net book value of £892,303 is £388,404 (2023 - £423,457) relating to assets held under hire purchase agreements. The depreciation charged to the accounts in the year in respect of such assets amounted to £57,804 (2023 - £54,542).

7.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2024

2023

£

£

Other investments

18,000

18,000

8.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2023

805,948

Revaluations

20,000

Transfer to fixed assets

(50,948

)

At 31 May 2024

775,000

NET BOOK VALUE

At 31 May 2024

775,000

At 31 May 2023

805,948

Fair value at 31 May 2024 is represented by:

£

Valuation in 2024

775,000

Investment property comprises residential properties. The fair values of the investment properties have been arrived at on the basis of valuations carried out at 1 October 2025 by DM Hall, Chartered Surveyors, who are not connected with the company or the directors. The valuations were made on an open market value basis by reference to market evidence of transaction prices for similar properties.

The directors are satisfied that the fair value of the properties as at 31 May 2024 is not materially different to these valuations.

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

56,744

131,090

Other debtors

216,005

124,408

272,749

255,498

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

143,286

139,726

Hire purchase contracts

56,063

53,874

Trade creditors

61,000

49,657

Taxation and social security

112,471

58,372

Other creditors

799,042

757,353

1,171,862

1,058,982

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

226,985

239,746

Other creditors

237,624

384,139

464,609

623,885

12.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

143,286

139,726

Hire purchase contracts

283,048

293,620

426,334

433,346

The bank loans are secured by a standard security over certain freehold property.

Hire purchase obligations are secured over the assets to which they relate.