Company registration number 02750770 (England and Wales)
SIMM TRONIC LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
SIMM TRONIC LIMITED
COMPANY INFORMATION
Directors
M. Costanzo
R. Vos
S. Goskie
Secretary
M. Costanzo
Company number
02750770
Registered office
Unit 3, Waterside Ind Estate
Hoddesdon
Hertfordshire
EN11 0QR
Auditor
HB Accountants
28 Plumpton House
Plumpton Road
Hoddesdon
Hertfordshire
EN11 0LB
SIMM TRONIC LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Profit and loss account
7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 22
SIMM TRONIC LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 1 -

The directors present the strategic report for the year ended 30 September 2025.

Fair review of the business

In the year to September 2025, the total office completions for Grade A, CAT A remained consistent to the previous year. CAT B fitouts follow the same trend. There was still a reasonable amount of movement in lettings, leading to large fitouts within the financial and legal sectors where leases are running out and clients are relocating. So, we have seen the market settle and a steady flow in new projects and major fitouts of existing CAT A space. The remodelling of existing spaces is still persistent. But there now seems to be a reversal where staff are now back in the offices and clients are trying to squeeze more people in now.

Simmtronic continue to invest heavily in research and development of new products and software. New product development is key to our marketplace, both in hardware and software. The official launch of environmental sensor along with new software and graphics upgrades took place. To support the next phase of product development, the R&D team relocated to a much larger site in Leeds central which enabled the increasing headcount to continue our commitment to technological development.

This year lead times have stabilised in certain areas, but we monitor it closely. As a precaution, stock levels remain slightly above normal, though lower than last year to mitigate potential global supply disruption.

Sustainability continues to grow in importance across the construction sector with increasing expectation from clients. We are interacting with our supply chain to reduce emissions, lower our embodied carbon footprint, and improving methods of data gathering. We held our first supply chain conference last year and continue to work closely with our suppliers on helping them through their sustainability journey.

We continue to support local companies which still assists in securing jobs and recruitment within Hertfordshire, contributing to growth and development of local communities. Our suppliers continue to invest heavily in new plant and expansion of production facilities. Simmtronic are part of Made in Britain, and now some of our suppliers have joined this association as well.

The final phase of the Hoddesdon HQ refurbishment was completed. The refurbishments increased in capacity and improved workflow and reduced energy consumption. We are also now getting quotes for the installation of Solar Panels to consider for 2026. We have finished an outside seating area for the staff to use during the warmer months, and the last piece of work on the integration of the CCTV, Access Control, Lighting, Blinds and BMS is almost complete.

The London office was realocated from Bevis Marks to Finsbury Circus, providing a slightly larger space at a similar outlay and consolidating training and hotdesking into one space, and giving a more accessible location close to Liverpool Street and Moorgate.

Financially, the business delivered strong performance. Turnover increased by 13% compared with the previous year, supported by a rise in order intake from £20 million to £21 million, representing 5 % growth. Staffing levels increased to 127, reflecting strengthened teams and expansion of the commissioning department.

Simmtronic enters the next year with a stable market, strong demand, and a clear strategic direction. Continued investment in innovation, supply chain resilience, sustainability, and digital systems positions the company for sustained growth and enhanced market leadership.

On behalf of the board

M Costanzo
Director
23 January 2026
SIMM TRONIC LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 30 September 2025.

Principal activities
The principal activity of the company continues to be that of the design, manufacture and distribution of advanced lighting control equipment.
Results and dividends

The results for the year are set out on page 7.

The directors do not recommend a payment of a final ordinary dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

M. Costanzo
R. Vos
S. Goskie
Research and development
SimmTronic remains at the forefront of lighting controls technology and continues to invest in Research and Development activity in the areas of Energy Controls Functionality, Inter-Operability and Communications.
Auditor

The auditors, HB Accountants, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
R. Vos
Director
19 January 2026
SIMM TRONIC LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -

The directors are responsible for preparing the annual report 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). 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;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- 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.

SIMM TRONIC LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SIMM TRONIC LIMITED
- 4 -
Opinion

We have audited the financial statements of Simm Tronic Limited (the 'company') for the year ended 30 September 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including 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 30 September 2025 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 Auditor's 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

SIMM TRONIC LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SIMM TRONIC LIMITED (CONTINUED)
- 5 -
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 identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which 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 directors' r esponsibilities s tatement, 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 is 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.

Auditor's 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 an auditor's report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included:

- Evaluation of the design of management’s controls designed to prevent and detect irregularities.

- Testing unusual or unexpected journal entries, particularly those impacting revenue.

- Challenging assumptions and judgements made by management in respect of significant accounting estimates.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

SIMM TRONIC LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SIMM TRONIC LIMITED (CONTINUED)
- 6 -

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 an auditor's report 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.

Karen Chase (Senior Statutory Auditor)
For and on behalf of HB Accountants, Statutory Auditor
Chartered Accountants
28 Plumpton House
Plumpton Road
Hoddesdon
Hertfordshire
EN11 0LB
24 February 2026
SIMM TRONIC LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
17,907,799
15,768,842
Cost of sales
(7,030,744)
(5,956,633)
Gross profit
10,877,055
9,812,209
Administrative expenses
(9,479,478)
(8,004,078)
Operating profit
4
1,397,577
1,808,131
Interest receivable and similar income
8
15,507
12,696
Profit before taxation
1,413,084
1,820,827
Tax on profit
9
(366,053)
(458,143)
Profit for the financial year
1,047,031
1,362,684

The profit and loss account has been prepared on the basis that all operations are continuing operations.

SIMM TRONIC LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 8 -
2025
2024
£
£
Profit for the year
1,047,031
1,362,684
Other comprehensive income
-
-
Total comprehensive income for the year
1,047,031
1,362,684
SIMM TRONIC LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2025
30 September 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
3,917,286
3,895,977
Current assets
Stocks
11
3,161,256
3,553,356
Debtors
12
2,997,742
2,783,323
Cash at bank and in hand
4,630,295
3,118,324
10,789,293
9,455,003
Creditors: amounts falling due within one year
13
(4,573,264)
(4,277,784)
Net current assets
6,216,029
5,177,219
Total assets less current liabilities
10,133,315
9,073,196
Provisions for liabilities
Deferred tax liability
14
249,795
236,707
(249,795)
(236,707)
Net assets
9,883,520
8,836,489
Capital and reserves
Called up share capital
16
2,250
2,250
Capital redemption reserve
3,750
3,750
Profit and loss reserves
9,877,520
8,830,489
Total equity
9,883,520
8,836,489
The financial statements were approved by the board of directors and authorised for issue on 19 January 2026 and are signed on its behalf by:
R. Vos
Director
Company registration number 02750770 (England and Wales)
SIMM TRONIC LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 10 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 October 2023
2,250
3,750
7,467,805
7,473,805
Year ended 30 September 2024:
Profit and total comprehensive income
-
-
1,362,684
1,362,684
Balance at 30 September 2024
2,250
3,750
8,830,489
8,836,489
Year ended 30 September 2025:
Profit and total comprehensive income
-
-
1,047,031
1,047,031
Balance at 30 September 2025
2,250
3,750
9,877,520
9,883,520
SIMM TRONIC LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 11 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
19
2,048,029
1,911,735
Taxation
(356,328)
(468,790)
Net cash inflow from operating activities
1,691,701
1,442,945
Investing activities
Purchase of tangible fixed assets
(219,737)
(925,796)
Proceeds on disposal of tangible fixed assets
24,500
420,839
Interest received
15,507
12,696
Net cash used in investing activities
(179,730)
(492,261)
Net cash used in financing activities
-
0
-
0
Net increase in cash and cash equivalents
1,511,971
950,684
Cash and cash equivalents at beginning of year
3,118,324
2,167,640
Cash and cash equivalents at end of year
4,630,295
3,118,324
SIMM TRONIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 12 -
1
Accounting policies
Company information

Simm Tronic Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3, Waterside Ind Estate, Hoddesdon, Hertfordshire, EN11 0QR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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

1.2
Going concern

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

1.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
Nil
Plant and machinery
25% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

SIMM TRONIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies (continued)
- 13 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

Cost is calculated using the weighted average method.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at 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.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

SIMM TRONIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies (continued)
- 14 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

SIMM TRONIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies (continued)
- 15 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.13
Leases
SIMM TRONIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies (continued)
- 16 -

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

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.

3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover
Sales
17,907,799
15,768,842
Other significant revenue
Interest income
15,507
12,696
Turnover analysed by geographical market
2025
2024
£
£
UK
17,907,799
15,768,842
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Research and development costs
32,991
29,475
Depreciation of tangible fixed assets
186,422
179,320
Profit on disposal of tangible fixed assets
(12,494)
(226,882)
Operating lease charges
284,632
240,448
SIMM TRONIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 17 -
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
14,500
14,000
For other services
All other non-audit services
20,525
18,300
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Management
3
3
Other
124
117
Total
127
120

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
8,944,347
8,112,487
Social security costs
1,164,757
971,899
Pension costs
224,993
198,306
10,334,097
9,282,692
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
2,123,478
1,726,667
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
707,826
587,468
SIMM TRONIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 18 -
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
15,507
12,696
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
15,507
12,696
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
352,965
356,328
Deferred tax
Origination and reversal of timing differences
13,088
101,815
Total tax charge
366,053
458,143

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
1,413,084
1,820,827
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
353,271
455,207
Tax effect of expenses that are not deductible in determining taxable profit
12,782
2,936
Taxation charge for the year
366,053
458,143
SIMM TRONIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 19 -
10
Tangible fixed assets
Land and buildings Freehold
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2024
3,357,893
1,069,421
159,403
4,586,717
Additions
-
0
187,262
32,475
219,737
Disposals
-
0
-
0
(53,598)
(53,598)
At 30 September 2025
3,357,893
1,256,683
138,280
4,752,856
Depreciation and impairment
At 1 October 2024
-
0
580,181
110,559
690,740
Depreciation charged in the year
-
0
169,093
17,329
186,422
Eliminated in respect of disposals
-
0
-
0
(41,592)
(41,592)
At 30 September 2025
-
0
749,274
86,296
835,570
Carrying amount
At 30 September 2025
3,357,893
507,409
51,984
3,917,286
At 30 September 2024
3,357,893
489,240
48,844
3,895,977
11
Stocks
2025
2024
£
£
Finished goods and goods for resale
3,161,256
3,553,356
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,753,513
2,594,430
Other debtors
39,537
6,133
Prepayments and accrued income
204,692
182,760
2,997,742
2,783,323
SIMM TRONIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 20 -
13
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
532,431
482,822
Corporation tax
352,967
356,330
Other taxation and social security
771,918
929,088
Other creditors
81,128
29,331
Accruals and deferred income
2,834,820
2,480,213
4,573,264
4,277,784
14
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
249,795
236,707
2025
Movements in the year:
£
Liability at 1 October 2024
236,707
Charge to profit or loss
13,088
Liability at 30 September 2025
249,795
15
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
224,993
198,306

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

16
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2,250
2,250
2,250
2,250
SIMM TRONIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 21 -
17
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
449,119
124,357
Years 2-5
441,872
14,775
890,991
139,132
18
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Salaries paid
2025
2024
£
£
Other related parties
101,145
103,920

19
Cash generated from operations
2025
2024
£
£
Profit after taxation
1,047,031
1,362,684
Adjustments for:
Taxation charged
366,053
458,143
Investment income
(15,507)
(12,696)
Gain on disposal of tangible fixed assets
(12,494)
(226,882)
Depreciation and impairment of tangible fixed assets
186,422
179,320
Movements in working capital:
Decrease/(increase) in stocks
392,100
(339,866)
Increase in debtors
(214,419)
(588,783)
Increase in creditors
298,843
1,079,815
Cash generated from operations
2,048,029
1,911,735
SIMM TRONIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 22 -
20
Analysis of changes in net funds
1 October 2024
Cash flows
30 September 2025
£
£
£
Cash at bank and in hand
3,118,324
1,511,971
4,630,295
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