Registration number: 9786383

F Simpson and Son Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 10

F Simpson and Son Limited

(Registration number: 9786383)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	600	600
Tangible assets	5	560,453	614,439
Other financial assets	6	33	33
		561,086	615,072
Current assets
Stocks		171,763	166,861
Debtors	7	123,392	164,131
Cash at bank and in hand		171,906	67,782
		467,061	398,774
Creditors: Amounts falling due within one year	8	(274,382)	(280,302)
Net current assets		192,679	118,472
Total assets less current liabilities		753,765	733,544
Creditors: Amounts falling due after more than one year	8	(424,531)	(503,221)
Provisions for liabilities		(83,080)	(92,871)
Net assets		246,154	137,452
Capital and reserves
Called up share capital	9	400	400
Retained earnings		245,754	137,052
Shareholders' funds		246,154	137,452

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

F Simpson and Son Limited

(Registration number: 9786383)
Balance Sheet as at 31 March 2025

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 December 2025 and signed on its behalf by:
 

Mrs JoAnne Jones Director

F Simpson and Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
White House Farm
Addlethorpe
Skegness
Lincolnshire
PE24 4TU

Registration number: 9786383

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

F Simpson and Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold land and buildings	Over 11/15/25/30 years
Motor vehicles	20% straight line
Self propelled machinery	10% staight line
Implements and machinery	15% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Land entitlements	No amortisation is provided on land entitlements as residual value is equivalent to cost so any amortisation is immaterial

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured less aprovision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

F Simpson and Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

F Simpson and Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year was 8 (2024 - 7).

F Simpson and Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Entitlements  £	Total £
Cost or valuation
At 1 April 2024	600	600
At 31 March 2025	600	600
Amortisation
At 1 April 2024	-	-
At 31 March 2025	-	-
Carrying amount
At 31 March 2025	600	600
At 31 March 2024	600	600

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2024	507,562	110,979	33,425	303,250	955,216
Additions	-	7,850	-	-	7,850
At 31 March 2025	507,562	118,829	33,425	303,250	963,066
Depreciation
At 1 April 2024	181,648	57,334	29,463	72,332	340,777
Charge for the year	20,047	10,464	1,000	30,325	61,836
At 31 March 2025	201,695	67,798	30,463	102,657	402,613
Carrying amount
At 31 March 2025	305,867	51,031	2,962	200,593	560,453
At 31 March 2024	325,914	53,645	3,962	230,918	614,439

Included within the net book value of land and buildings above is £305,867 (2024 - £325,914) in respect of freehold land and buildings.
 

F Simpson and Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6	Other financial assets (current and non-current)

	Financial assets at cost less impairment £	Total £
Non-current financial assets
Cost or valuation
At 1 April 2024	33	33
At 31 March 2025	33	33
Impairment
At 1 April 2024	-	-
At 31 March 2025	-	-
Carrying amount
At 31 March 2025	33	33
At 31 March 2024	33	33

7

Debtors

	2025 £	2024 £
Trade debtors	119,342	139,506
Other debtors	3,115	3,844
Social security and other taxes	935	20,781
Total current trade and other debtors	123,392	164,131

F Simpson and Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	77,311	74,353
Trade payables		53,344	46,326
Amounts due to related parties		61,399	102,601
Social security and other taxes		65,790	38,986
Other payables		16,538	18,036
		274,382	280,302