Company No: SC076867 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	9,672		0
Tangible assets	4	3,148,599		3,214,514
Investments	5	684,453		164,681
		3,842,724		3,379,195
Current assets
Debtors	6	698,483		681,119
Cash at bank and in hand		1,848,721		1,035,062
		2,547,204		1,716,181
Creditors: amounts falling due within one year	7	( 1,402,549)		( 533,463)
Net current assets		1,144,655		1,182,718
Total assets less current liabilities		4,987,379		4,561,913
Provision for liabilities		( 335,121)		( 324,097)
Net assets		4,652,258		4,237,816
Capital and reserves
Called-up share capital	8	319,713		319,713
Capital redemption reserve		105,329		105,329
Profit and loss account		4,227,216		3,812,774
Total shareholders' funds		4,652,258		4,237,816

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

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Sims Automatics Limited (registered number: SC076867) were approved and authorised for issue by the Board of Directors on 21 April 2026. They were signed on its behalf by:

A Lambie Director

S D McGillivray Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sims Automatics Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 46 Dalsholm Road, Glasgow, G20 0TB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is derived from the rental of gaming machines, pool tables and associated machinery. Turnover from gaming machines is recognised at the point at which the cash is collected. Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Employee benefits

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

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

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

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 arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

0 - 10 years straight line

Goodwill

Goodwill represents the excess of the cost of acquisition of businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	5 - 67 years straight line
Plant and machinery etc.	2 - 8 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible 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). The recoverable amount of an asset is the higher of its fair value less costs to sell and its 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.

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. 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.

Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the profit and loss account.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Listed investments are initially measured at cost and subsequently measured at fair value with changes in value recognised in the profit and loss account.

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 creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	58		60

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 August 2024	1,598,507		1,598,507
Additions	10,745		10,745
At 31 July 2025	1,609,252		1,609,252
Accumulated amortisation
At 01 August 2024	1,598,507		1,598,507
Charge for the financial year	1,073		1,073
At 31 July 2025	1,599,580		1,599,580
Net book value
At 31 July 2025	9,672		9,672
At 31 July 2024	0		0

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 August 2024	280,042		13,294,634		13,574,676
Additions	0		1,596,606		1,596,606
Disposals	0		( 926,114)		( 926,114)
At 31 July 2025	280,042		13,965,126		14,245,168
Accumulated depreciation
At 01 August 2024	165,280		10,194,882		10,360,162
Charge for the financial year	5,149		1,607,051		1,612,200
Disposals	0		( 875,793)		( 875,793)
At 31 July 2025	170,429		10,926,140		11,096,569
Net book value
At 31 July 2025	109,613		3,038,986		3,148,599
At 31 July 2024	114,762		3,099,752		3,214,514

5. Fixed asset investments

	2025		2024
	£		£
Other investments and loans	684,453		164,681

Investments in subsidiaries

	2025
	£
Cost
At 01 August 2024	2,201,361
At 31 July 2025	2,201,361
Provisions for impairment
At 01 August 2024	2,201,361
At 31 July 2025	2,201,361
Carrying value at 31 July 2025	0
Carrying value at 31 July 2024	0

	Listed investments		Other investments		Total
	£		£		£
Cost or valuation before impairment
At 01 August 2024	125,154		39,527		164,681
Additions	512,307		0		512,307
Movement in fair value	7,465		0		7,465
At 31 July 2025	644,926		39,527		684,453
Carrying value at 31 July 2025	644,926		39,527		684,453
Carrying value at 31 July 2024	125,154		39,527		164,681

6. Debtors

	2025		2024
	£		£
Trade debtors	283,587		162,019
Corporation tax	0		25,615
Other debtors	414,896		493,485
	698,483		681,119

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	337,985		105,014
Corporation tax	155,082		0
Other taxation and social security	391,595		288,685
Other creditors	517,887		139,764
	1,402,549		533,463

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
170,847 Ordinary shares of £ 1.00 each	170,847		170,847
148,866 Preference shares of £ 1.00 each	148,866		148,866
	319,713		319,713

The preference shares within the company entitle the holder to a preferential dividend at 4% per annum. It is within the power of the company by resolution of the Board of Directors to redeem all or any number of the preference shares. On redemption, or on a winding up, preference shareholders will be entitled to the amount paid up on preference shares, in priority to ordinary shareholders.

The holders of the preference share capital have waived their rights to receive the annual 4% dividend.

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	29,189		29,189
between one and five years	22,591		98,274
Total future minimum lease payments under non-cancellable operating leases	51,780		127,463

10. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Directors loan	60,000		60,000
Directors loan	83,000		143,000
Directors loan	92,759		92,759

During the year the directors each had an interest free loan from the company which are repayable on demand.

Other related party transactions

	2025		2024
	£		£
Other related parties - rent payable	13,890		3,475

During the period £24,000 (2024: £22,000) was advanced to a shareholder. There were no repayments during the year, leaving a balance of £28,169 at 31 July 2025 (2024: £4,169).

The company has taken advantage of disclosure exemptions available under section 33.1A of FRS102 whereby it has not disclosed transactions entered into within any wholly-owned subsidiary of the group.