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Registered number:
FOR THE YEAR ENDED 31 OCTOBER 2025
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SIMOCO EMEA LTD
COMPANY INFORMATION
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SIMOCO EMEA LTD
CONTENTS
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SIMOCO EMEA LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
The Directors, in preparing this strategic report, have complied with s414C of the Companies Act 2006.
Principal activities The principal activities of the Company are the provision of critical communications, enabling businesses to connect complex and divergent technologies together. The Company provides telecommunication services to a number of sectors internationally.
The principal activities of the Company includes:
∙Professional Mobile Radio (PMR) systems, products and services;
∙Mobile and fixed LTE & IOT products and systems;
∙RTU & SCADA products and maintenance and asset management;
∙Mobile Broadband including our Velocity range;
∙Telemetry products; and
∙The design, build and operation of all types of Radio and Wireless systems for mission critical clients and their challenging environments.
The Company's balance sheet is set out on page 12. The Directors consider that the financial position of the Company is satisfactory. The results for the Company show a pre tax loss of £114,000 (2024: profit £349,000) and profit after tax of £386,000 (2024: £349,000).
The TTG Global Solutions Group Limited, referred to herein as “the Group” and Company continued to focus on developing its product set during the period. The Company continues to prioritise its sales reach through partners, dealers and own sales resource. Further investment has been made during the year in resources to open up access to European markets, whilst the companies new VR and VX range products have now been released to the market. The Company is a projects based business and has traditionally seen fluctuating levels of turnover and profitability.
The Group through its research and development teams based in both the UK & Australia continues to innovate and to invest and develop its range of DMR (Digital Mobile Radio), RTU, SCADA, Mobile Broadband (Velocity range) and Telemetry products. Following the future trends of our industry, we see our next generation LTE & IOT solutions becoming increasingly important to the Group; this includes our Velocity product range where users can seamlessly access through one device, LTE and other broadband voice and data services along with satellite or narrowband, high reliability voice (DMR/P25/ MPT) services. Velocity was introduced to the market in recent years and we are seeing a high level of interest, the first significant sales and a significant pipeline developing.
The Group specialises in supporting a number of key industry verticals in all of their communication requirements. These include, aviation, rail and road, utilities, energy, mining, local and national government and emergency services through its three main trading companies; Simoco EMEA Limited, Simoco Wireless Solutions Pty Limited and Simoco Systems Limited (formerly Thorcom Systems Limited). Simoco EMEA Limited saw turnover during the 2024/25 year of £4.9m and delivered an operating loss of £114k. This trading, the investments in new technologies and a strong pipeline gives the Directors confidence for trading in the coming years. The directors of the business are satisfied with the development, performance and position of the company.
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SIMOCO EMEA LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
The directors consider operating profit (profit before interest and tax), working capital, turnover growth, and number of contract wins to be the principal measures of performance in relation to the company. These key performance indicators are reviewed on an ongoing basis by the directors. The KPIs for the Company are noted in the tables below:
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SIMOCO EMEA LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
The Company is part of the TTG Global Solutions Group Limited group. The Group’s business activities, together with the factors likely to affect its future development and position are set out in the business review, which forms part of the Strategic report, in TTG Global Solutions Group Limited’s financial statements. The Strategic report also describes the financial position of the Group; its cash flows, liquidity position and borrowing facilities; the Group’s objectives, policies and processes for managing its capital; its financial risk management objectives; details of its financial instruments and hedging activities; its exposure to credit risk and liquidity risk.
The Company has procedures in place for reviewing future performance including budgeted and forecast trading and profitability. These forecasts include reasonable assumptions and predictions over assumed customers and turnover; they take a prudent view of the costs of the business. The Company has taken significant actions, especially in regard to the development of its new Velocity product range, over the recent periods with the aim of improving the financial results of the businesses. Overall in 2024/25 the Company saw reporting revenues of £4.9m and a small trading loss of £0.1m. However during 2025-26 we have seen some significant contract wins which will enable the business to report significantly improved results and a return to profitability. The Group has cash resources and banking facilities in place to enable the Group and Company to continue in operational existence for the 12 months from the signing of the accounts. Whilst the Company, like most other businesses, is exposed to fluctuations in trading and the need to continually win and deliver new contracts on a profitable basis to new and existing customers to ensure its continued success and survival, the Directors believe that their forecasts, give a reasonable expectation to assume that the company has adequate resources to continue in existence for the 12 months from the signing of the accounts. The company has net current liabilities of £0.2m at 31 October 2025. The directors have received confirmation, in the form of a letter of support from the ultimate parent company, TTG Global Solutions Group Limited, that fellow group companies intend to provide support as required to enable the company to meet its obligations as they fall due. Taking the matters above into account, and having reviewed these forecasts, for the 12 months from the date of this report, and as a result of that review, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the 12 months from the signing of the accounts. Accordingly, the going concern basis of preparation has been adopted in the financial statements.
Future developments
The Directors expect the general level of activity to improve for the Company in the coming period. With the Company and Group’s developments into DMR, telemetry, Velocity, and other offerings, a strong sales force and the opening up of markets the directors look forward to strong growth returning in future years.
This report was approved by the board on 20 July 2026 and signed on its behalf.
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SIMOCO EMEA LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
The directors present their report and the financial statements for the year ended 31 October 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements 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 to 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.
The profit for the year, after taxation, amounted to £386,000 (2024 - £349,000).
The directors do not propose a dividend for the year (2024 - £nil). There have been no dividends proposed since the year end.
Financial risk management objectives and policies.
The Company's activities expose it to a number of financial risks including cash flow risk, credit risk and liquidity risk. The use of financial derivatives is governed by the Group's policies approved by the Board of Directors, which provide written principles on the use of financial derivatives to manage these risks. The Group does not use derivative financial instruments for speculative purposes.
Cash flow risk
The Company's activities expose it primarily to the financial risks of changes in foreign currency exchange rates, interest rates and requirement for capital expenditure. Controls are in place to limit these risks by the use of a dedicated credit control team and the linking of capital expenditure to future income streams. Interest bearing liabilities are held at fixed rates to limit uncertainty of cash flows.
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SIMOCO EMEA LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
Credit risk
The Company's principal financial assets are bank balances and cash, trade and other receivables.
The Company's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The Company has historically had little experience of debts going bad principally as it works for large and blue-chip companies.
The credit risk on liquid funds is limited because the counterparties are banks with high credit ratings assigned by international credit-rating agencies. The Company has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the Company uses a mixture of long-term and short-term debt finance. For long-term contracts, the Company normally sets payment terms that are in line with the procurement process minimising the level of risk the Company is exposed to in terms of cash flow and working capital at any one time.
The Company has made qualifying third-party indemnity provisions for the benefits of it's Directors which were in place throughout the period and remain in force at the date of this report.
The directors who served during the year were:
Comments on future developments are disclosed in the Strategic Report.
There have been no significant events affecting the Company since the year end.
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SIMOCO EMEA LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
The auditors, PKF Smith Cooper Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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SIMOCO EMEA LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SIMOCO EMEA LTD
We have audited the financial statements of Simoco EMEA Ltd (the 'Company') for the year ended 31 October 2025, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, 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).
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 United Kingdom, including the Financial Reporting Council'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.
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.
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SIMOCO EMEA LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SIMOCO EMEA LTD (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report 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.
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 Directors' report.
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SIMOCO EMEA LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SIMOCO EMEA LTD (CONTINUED)
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 Auditors' 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.
Based on our understanding of the Company and industry in which it operates, key laws and regulations that we identified included:
∙Tax legislation;
∙Health and safety legislation; and
∙Employment legislation.
We identified that the principal risk of fraud or non-compliance with laws and regulations related to:
∙Management bias in respect of accounting estimates and judgements made;
∙Management override of controls; and
∙Posting of unusual journals or transactions.
We focused on those areas that could give rise to a material misstatement in the Company's financial statements.
Our procedures included, but were not limited to:
∙Enquiry of management and those charged with governance around actual and potential litigation and claims including instances of non-compliance with laws and regulations and fraud;
∙Reviewing minutes of meetings of those charged with governance, where available;
∙Reviewing legal expenditure in the year to identify instances of non-compliance with laws and regulations and fraud;
∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; and
∙Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias, in particular revenue recognition on long-term contracts, carrying value of stock and carrying value and recoverability of deferred tax.
It is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.
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SIMOCO EMEA LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SIMOCO EMEA LTD (CONTINUED)
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 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 Auditors' 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 Auditors' 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.
for and on behalf of
Statutory Auditors
Cornerblock
2 Cornwall Street
B3 2DX
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SIMOCO EMEA LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2025
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SIMOCO EMEA LTD
REGISTERED NUMBER: 04382515
BALANCE SHEET
AS AT 31 OCTOBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 14 to 29 form part of these financial statements.
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SIMOCO EMEA LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025
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SIMOCO EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Simoco EMEA Ltd is a private limited company, limited by shares and incorporated in England and Wales, United Kingdom. The address of the registered office is given in the company information of these financial statements. The company's registration number is 04382515. The nature of the Company's operations and its principal activities are described in the Strategic report.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The functional currency of the Company is considered to be Pound Sterling because that is the currency of the primary economic environment in which the Company operates. All amounts have been rounded to the nearest thousand.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A.
This information is included in the consolidated financial statements of TTG Global Solutions Group Limited as at 31 October 2025 and these financial statements may be obtained from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.
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SIMOCO EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
The Company is part of the TTG Global Solutions Group Limited group. The Group’s business activities, together with the factors likely to affect its future development and position are set out in the business review, which forms part of the Strategic report, in TTG Global Solutions Group Limited’s financial statements. The Strategic report also describes the financial position of the Group; its cash flows, liquidity position and borrowing facilities; the Group’s objectives, policies and processes for managing its capital; its financial risk management objectives; details of its financial instruments and hedging activities; its exposure to credit risk and liquidity risk.
The Company has procedures in place for reviewing future performance including budgeted and forecast trading and profitability. These forecasts include reasonable assumptions and predictions over assumed customers and turnover; they take a prudent view of the costs of the business. The Company has taken significant actions, especially in regard to the development of its new Velocity product range, over the recent periods with the aim of improving the financial results of the businesses. Overall in 2024/25 the Company saw reporting revenues of £4.9m and a small trading loss of £0.1m. However during 2025-26 we have seen some significant contract wins which will enable the business to report significantly improved results and a return to profitability. The Group has cash resources and banking facilities in place to enable the Group and Company to continue in operational existence for the 12 months from the signing of the accounts. Whilst the Company, like most other businesses, is exposed to fluctuations in trading and the need to continually win and deliver new contracts on a profitable basis to new and existing customers to ensure its continued success and survival, the Directors believe that their forecasts, give a reasonable expectation to assume that the company has adequate resources to continue in existence for the 12 months from the signing of the accounts. The company has net current liabilities of £0.2m at 31 October 2025. The directors have received confirmation, in the form of a letter of support from the ultimate parent company, TTG Global Solutions Group Limited, that fellow group companies intend to provide support as required to enable the company to meet its obligations as they fall due.
Taking the matters above into account, and having reviewed these forecasts, for the 12 months from the date of this report, and as a result of that review, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the 12 months from the signing of the accounts. Accordingly, the going concern basis of preparation has been adopted in the financial statements.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
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SIMOCO EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income within admin expenses.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income within admin expenses.
Long-term contracts Revenue arising from long-term contracts is recognised in the Statement of comprehensive income over the term of the related long-term contract so as to match the revenue and profits arising with related costs incurred to date. The amount of long-term contracts, at costs incurred, net of amounts transferred to cost of sales, after deducting foreseeable losses and payments on account not matched with revenue, is included in debtors as amounts recoverable on contracts.
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SIMOCO EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life of 10 years. Any impairment is written off immediately to the Statement of comprehensive income.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
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SIMOCO EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.
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SIMOCO EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date. Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.
Equity instruments are measured at 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.
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SIMOCO EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Critical judgements in applying the Company's accounting policies The following are the critical judgements, apart from those involving estimations (which are dealt with separately below), that the directors have made in the process of applying the Company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements. Research expenditure is written off as incurred. Development expenditure is also written off, with the exception of development expenditure incurred on major new product projects where the Directors are satisfied that the technical, commercial and financial viability of individual projects and their recoverability through future cash generation is in accordance with FRS 102. An impairment would be made where the Directors estimate based on forecasts undertaken, that the profits and cashflows generated from the asset are less than the carrying value of the asset. When the outcome on a contract can be estimated reliably and it is probable that the contract will be profitable, contract revenue and costs are recognised over the period of the contract by reference to the stage of completion based on actual costs incurred to the end of the accounting period compared to forecasted costs to determine the appropriate amount to be recognised in a given period. When it is probable that the total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately. In determining the stage of completion the Company has appropriate systems for cost estimating, forecasting and revenue and costs reporting. The system also requires consistent judgement (forecasting) of the final outcome of the contract. Estimates are an inherent part of this assessment and the actual future outcome may deviate from the estimated outcome. However, historical experience has shown that estimates are, on the whole, sufficiently reliable. Judgement is required over the amount of deferred tax asset the Company should hold. The Directors estimate on a prudent basis, based on forecasts undertaken, the extent to which they believe the business will generate taxable profits in the coming years, and this estimation determines the carrying value of deferred tax in the balance sheet. Further details are shown in note 16.
Page 20
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SIMOCO EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Analysis of turnover by country of destination:
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SIMOCO EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 22
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SIMOCO EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
There were no factors that may affect future tax charges.
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SIMOCO EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 24
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SIMOCO EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 25
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SIMOCO EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 26
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SIMOCO EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page 27
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SIMOCO EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Profit and loss account
The Company has entered into an unlimited cross-party bank guarantee between itself and certain of its fellow subsidiary companies. The resultant guarantee amounts to £1,551,000 at the balance sheet date (2024 - £1,446,000) and is secured against the assets of the Group.
The Company is also a member of a VAT group and is jointly and severally liable for the amount of VAT owed by Simoco Wireless Solutions Limited, AirRadio Limited and Team Telecommunications Group Limited, at the balance sheet date the contingent liability was £nil (2024 - £nil).
The Company operates defined contribution schemes. During the year, the Company made contributions to defined contribution schemes of £49,000 (2024 - £44,000). There were amounts outstanding to defined contribution schemes at the balance sheet date of £27,000 (2024 - £25,000).
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SIMOCO EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
The immediate parent undertaking is Team Telecommunications Group Limited, which is registered in England, United Kingdom. The ultimate parent undertaking is TTG Global Solutions Group Limited which is registered in England, United Kingdom. The immediate and ultimate parent undertaking Company's registered offices are at Field House, Uttoxeter Old Road, Derby, DE1 1NH.
The smallest and largest group in which the results of the company are consolidated is that headed by TTG Global Solutions Group Limited, which is the only entity that will prepare consolidated financial statements. The consolidated financial statements of TTG Global Solutions Group Limited are available from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ. The directors consider that there is no ultimate controlling party.
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