REGISTERED NUMBER: 06180428 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

ANDREW SYMONS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

7

Statement of Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

16

DIRECTORS:

A M Symons

Mrs L F Symons

SECRETARY:

Mrs L F Symons

REGISTERED OFFICE:

St John's House

Castle Street

Taunton

Somerset

TA1 4AY

REGISTERED NUMBER:

06180428 (England and Wales)

AUDITORS:

MITCHELLS

Chartered Accountants and Statutory Auditors

St. John's House

Castle Street

TAUNTON

Somerset

TA1 4AY

The directors present their strategic report for the year ended 31 December 2025.

REVIEW OF BUSINESS

The company's desire is to focus on its commitment to providing an excellent level of service in all departments to its customer base.

The company is focused on maintaining a healthy market share whilst in challenging times within the agricultural industry, keeping stock levels manageable and healthy.

The company hopes to maintain a positive attitude and continue to build a good customer base, finding new customers and looking after the existing one.

PRINCIPAL RISKS AND UNCERTAINTIES

In view of the current global state and the government's response to it, there is the potential for the costs of administration and stocking times to be increased, including potential sources of funding to be impacted within the debt and equity markets in the medium to long term.

These uncertainties are expected to be similar for most industries, however, it is anticipated that agriculture will remain overall in a positive position and thus remain heavily reliant on machinery dealers. The company has a strong track record, operating profitably during previous economic depressions and benefits from significant reserves.

The directors have concluded that while the global state is volatile they can be confident that they have sufficient access to stock and resources should further uncertainties develop.

DEVELOPMENT AND PERFORMANCE IN YEAR

For 2025 the company continues to focus on its customer's needs and a strong emphasis on continuous improvement and growth.

The agricultural industry is facing challenging and uncertain market conditions but do acknowledge there are signs of positivity.

The directors and management are aware of the increasing operational costs, coupled with constant price increases from the economic pressures around the world. The management team within all departments are focused and looking to reduce waste and improve efficiency.

With costs incurred in the previous year with extending the area for New Holland Agriculture in the South Devon/South Hams, the company is now well placed and managed to continue to expand and cultivate this excellent farming area. The company has been well received in this area.

The new Honda ATV franchise at South Molton and Crediton branches continues to grow steadily, this has helped to diversify into another area of our industry.

The company has started to also focus on retailing light construction and industrial machines to help increase the company's turnover.

It is the company's focus to overall keep promoting all areas of the business in Sales, Parts & Service departments.

The company will continue to look at any opportunities with the industry and look at other areas of business to diversify. Our main aim for 2026 will be to maintain our position in the market, grow our third depot to its full potential and ultimately, keeping our internal costs and overheads low.

GOING CONCERN

The financial statements have been prepared on a going concern basis. The directors have assessed the company's ability to continue as a going concern and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

In making this assessment, the directors have considered the company's forecasts and projections, taking into account reasonably possible changes in trading performance, and have conducted a thorough review of the company's cash flow forecasts, financial position, and borrowing facilities.

The directors acknowledge the current economic environment and have considered its impact on the company's activities. The assessment includes an evaluation of the potential risks and uncertainties affecting the company's business model and operational environment. Key factors considered include: Financial Performance, Liquidity, Funding, Market Conditions and Contingency Plans.

Based on the above considerations, the directors believe that the company is well placed to manage its business risks successfully. Accordingly, the directors continue to adopt the going concern basis in preparing the annual financial statements.

KEY PERFORMANCE INDICATORS

As a company we look at all departments and areas of the business, reporting and monitoring sales, parts, service, stock inventory, debtors, internal costs at management level, with regular departmental meetings and reviews. We have monthly/quarterly/annual targets and budgets to aid us in monitoring our progress.

The key performance indicators (KPIs) we use to review the company's ongoing performance are:

- Monthly review of turnover and margins.

- Percentage of costs to turnover.

- Percentage of warranty claims.

- Quality control metrics.

- Weekly review of trade debtors.

- Continuous review of market trends.

- Repair and servicing days.

- Employee productivity by sales.

- Customer satisfaction and referrals.

- Safety monitoring and environmental impact.

- Monthly cashflow reporting.

The board is satisfied that these KPIs provide the company with the ongoing insight to stay ahead of the competition and ensure the highest standards continue to be met in all sections of the business.

Financial risk is monitored on a continual basis by the company to ensure that its short, medium and long term objectives are being met. The risk management includes regular meetings with financial team and accountant.

COMPANY VALUES

Employees of Andrew Symons Ltd are the centre of our continued success and development, the company has a great emphasis on teamwork.

The company is also committed to its High Level of Customer Satisfaction.

Teamwork is key - everyone matters who works within the company, where energy and enthusiasm are matched with opportunity and progress.

POSITION AT THE END OF THE YEAR

2025 was a very difficult year, it remained flat all year until the last quarter.

The company did manage to finish a very flat and poor year reasonably well managing many external pressures, with the last quarter of the year which boosted our results, a profit was achieved before depreciation.

ON BEHALF OF THE BOARD:

Mrs L F Symons - Secretary

22 May 2026

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of sales, servicing and repairs of agricultural machinery with a separate groundcare department offering the same services.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2025 will be £ 36,000 .

RESEARCH AND DEVELOPMENT

No significant research and development was carried out in 2025, as there were not the resources or money to invest in this area.

FUTURE DEVELOPMENTS

For 2026 the company continues to focus on its customers needs and a strong emphasis on continuous improvement and growth.

The agricultural industry is facing challenging and uncertain market conditions.

The directors and management are aware of the increasing operational costs, coupled with constant price increases in supplied wholegoods from our renowned manufacturers adds external pressures.

The company will continue to look at any opportunities with the industry and look at other areas of business to diversify. Our main aim for 2026 will be to maintain our position in the market and focus on keeping our internal costs and overheads low.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

A M Symons

Mrs L F Symons

DISCLOSURE IN THE STRATEGIC REPORT

The Strategic Report on page 2 sets out a fair review of the business and a description of the principal risks and uncertainties facing the company.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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;

-	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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, MITCHELLS, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mrs L F Symons - Secretary

22 May 2026

Opinion

We have audited the financial statements of Andrew Symons Limited (the 'company') for the year ended 31 December 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of 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 31 December 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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

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 identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where 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 Statement of Directors' Responsibilities set out on page five, 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 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.

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Enquiry of management and those charged with governance around actual and potential litigation and claims.

- Enquiry of entity staff to identify any instances of non-compliance with laws and regulations.

- Reviewing minutes of meetings of those charged with governance.

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with

applicable laws and regulations.

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments

for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of

business.

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities. It is the primary

responsibility of management and those charged with governance to ensure that the entity's operations are conducted in accordance with the provisions of the laws and regulations and for the prevention and detection of fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.

Samantha Vigus FCA (Senior Statutory Auditor)

for and on behalf of MITCHELLS

Chartered Accountants and Statutory Auditors

St. John's House

Castle Street

TAUNTON

Somerset

TA1 4AY

22 May 2026

TURNOVER

3

24,074,765

18,127,978

Cost of sales

22,124,398

16,147,253

GROSS PROFIT

1,950,367

1,980,725

Administrative expenses

1,854,102

1,773,620

96,265

207,105

Other operating income

4

8,583

7,998

OPERATING PROFIT

6

104,848

215,103

Interest receivable and similar income

1,544

-

106,392

215,103

Interest payable and similar expenses

8

157,218

175,109

(LOSS)/PROFIT BEFORE TAXATION

(50,826

)

39,994

Tax on (loss)/profit

9

(102,524

)

9,998

PROFIT FOR THE FINANCIAL YEAR

51,698

29,996

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

51,698

29,996

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

1,472,807

1,593,288

1,472,807

1,593,288

CURRENT ASSETS

Stocks

13

4,909,914

5,167,115

Debtors

14

1,703,533

1,251,745

Cash in hand

1,133

630

6,614,580

6,419,490

CREDITORS

Amounts falling due within one year

15

5,393,547

5,244,294

NET CURRENT ASSETS

1,221,033

1,175,196

TOTAL ASSETS LESS CURRENT LIABILITIES

2,693,840

2,768,484

CREDITORS

Amounts falling due after more than one year

16

(79,154

)

(58,206

)

PROVISIONS FOR LIABILITIES

20

(201,555

)

(312,845

)

NET ASSETS

2,413,131

2,397,433

CAPITAL AND RESERVES

Called up share capital

21

200

200

Retained earnings

22

2,412,931

2,397,233

SHAREHOLDERS' FUNDS

2,413,131

2,397,433

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2026 and were signed on its behalf by:

A M Symons - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

200

2,391,237

2,391,437

Changes in equity

Dividends

-

(24,000

)

(24,000

)

Total comprehensive income

-

29,996

29,996

Balance at 31 December 2024

200

2,397,233

2,397,433

Changes in equity

Dividends

-

(36,000

)

(36,000

)

Total comprehensive income

-

51,698

51,698

Balance at 31 December 2025

200

2,412,931

2,413,131

Cash flows from operating activities

Cash generated from operations

1

396,996

695,293

Interest paid

(148,334

)

(171,377

)

Interest element of hire purchase payments paid

(8,884

)

(3,732

)

Tax paid

12,172

(1,189

)

Net cash from operating activities

251,950

518,995

Cash flows from investing activities

Purchase of tangible fixed assets

(448,883

)

(834,665

)

Sale of tangible fixed assets

509,176

426,906

Interest received

1,544

-

Net cash from investing activities

61,837

(407,759

)

Cash flows from financing activities

Capital repayments in year

61,455

62,253

Net amount withdrawn by directors

(46,819

)

(26,168

)

Equity dividends paid

(36,000

)

(24,000

)

Net cash from financing activities

(21,364

)

12,085

Increase in cash and cash equivalents

292,423

123,321

Cash and cash equivalents at beginning of year

2

(308,759

)

(432,080

)

Cash and cash equivalents at end of year

2

(16,336

)

(308,759

)

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.12.25

31.12.24

£

£

(Loss)/profit before taxation

(50,826

)

39,994

Depreciation charges

123,358

143,577

Profit on disposal of fixed assets

(63,170

)

(15,480

)

Finance costs

157,218

175,109

Finance income

(1,544

)

-

165,036

343,200

Decrease in stocks

257,201

257,815

(Increase)/decrease in trade and other debtors

(451,788

)

879,971

Increase/(decrease) in trade and other creditors

426,547

(785,693

)

Cash generated from operations

396,996

695,293

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2025

31.12.25

1.1.25

£

£

Cash and cash equivalents

1,133

630

Bank overdrafts

(17,469

)

(309,389

)

(16,336

)

(308,759

)

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

630

994

Bank overdrafts

(309,389

)

(433,074

)

(308,759

)

(432,080

)

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank and in hand

630

503

1,133

Bank overdrafts

(309,389

)

291,920

(17,469

)

(308,759

)

292,423

(16,336

)

Debt

Finance leases

(93,848

)

(71,455

)

(165,303

)

Debts falling due within 1 year

(20,755

)

50,152

29,397

Debts falling due after 1 year

(6,667

)

6,667

-

(121,270

)

(14,636

)

(135,906

)

Total

(430,029

)

277,787

(152,242

)

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting 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.

Turnover

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

This is the amount derived from ordinary activities, and stated after trade discounts, other sales taxes and net of VAT.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

Straight line over 30 years

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

10% on reducing balance

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 Statement of Comprehensive Income, 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

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

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

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

Going concern

The financial statements have been prepared on a going concern basis. The directors have assessed the company's ability to continue as a going concern and are satisfied that the company has the resources to continue in business for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual financial statements.

3.

TURNOVER

The turnover and loss (2024 - profit) before taxation are attributable to the one principal activity of the company.

4.	OTHER OPERATING INCOME

31.12.25

31.12.24

£

£

Rents received

5,940

5,895

Sundry receipts

2,643

2,103

8,583

7,998

5.	EMPLOYEES AND DIRECTORS

31.12.25

31.12.24

£

£

Wages and salaries

110,939

78,290

The average number of employees during the year was as follows:

31.12.25

31.12.24

Directors

2

2

Other

1

1

3

3

31.12.25

31.12.24

£

£

Directors' remuneration

27,336

26,098

6.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.25

31.12.24

£

£

Other operating leases

180,026

184,939

Depreciation - owned assets

119,342

134,024

Depreciation - assets on hire purchase contracts

4,016

9,553

Profit on disposal of fixed assets

(63,170

)

(15,480

)

7.	AUDITORS' REMUNERATION

31.12.25

31.12.24

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

9,234

10,304

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.25

31.12.24

£

£

Bank interest

39,941

42,481

Bank loan interest

302

558

Stocking plan interest

108,091

128,338

Hire purchase

8,884

3,732

157,218

175,109

9.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss for the year was as follows:

31.12.25

31.12.24

£

£

Current tax:

UK corporation tax

8,766

-

Deferred tax

(111,290

)

9,998

Tax on (loss)/profit

(102,524

)

9,998