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REGISTERED NUMBER: 10324617 (England and Wales)

















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

PMW TECHNOLOGY LIMITED

PMW TECHNOLOGY LIMITED (REGISTERED NUMBER: 10324617)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PMW TECHNOLOGY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: P M Willson
S D Mclaughlin





REGISTERED OFFICE: Hurst Leigh
Birchcliffe Road
Hebden Bridge
West Yorkshire
HX7 8DB





REGISTERED NUMBER: 10324617 (England and Wales)





ACCOUNTANTS: Cresswells
12 Market Street
Hebden Bridge
West Yorkshire
HX7 6AD

PMW TECHNOLOGY LIMITED (REGISTERED NUMBER: 10324617)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 33,250 29,504
Tangible assets 5 - -
33,250 29,504

CURRENT ASSETS
Debtors 6 2,347 470
Cash at bank 773 82
3,120 552
CREDITORS
Amounts falling due within one year 7 46,991 41,377
NET CURRENT LIABILITIES (43,871 ) (40,825 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(10,621

)

(11,321

)

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 (10,721 ) (11,421 )
SHAREHOLDERS' FUNDS (10,621 ) (11,321 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 August 2022 and were signed on its behalf by:




P M Willson - Director


PMW TECHNOLOGY LIMITED (REGISTERED NUMBER: 10324617)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

Pmw Technology 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The balance sheet shows that liabilities exceed assets, resulting in a deficit of £10,621 (2019 £11,321). The director has confirmed his support, and has indicated he will not withdraw his support for a period of at least twelve months from the date of the approval of the financial statements. The financial statements have therefore been prepared on a going concern basis.

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

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.

Patents and licences are being amortised evenly over their estimated useful life of 20 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 50% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

PMW TECHNOLOGY LIMITED (REGISTERED NUMBER: 10324617)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 January 2021 33,923
Additions 5,508
At 31 December 2021 39,431
AMORTISATION
At 1 January 2021 4,419
Amortisation for year 1,762
At 31 December 2021 6,181
NET BOOK VALUE
At 31 December 2021 33,250
At 31 December 2020 29,504

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2021
and 31 December 2021 1,738
DEPRECIATION
At 1 January 2021
and 31 December 2021 1,738
NET BOOK VALUE
At 31 December 2021 -
At 31 December 2020 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
VAT 2,347 470

PMW TECHNOLOGY LIMITED (REGISTERED NUMBER: 10324617)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Social security and other taxes - 658
Pensions 388 116
Directors' current accounts 45,603 39,603
Accrued expenses 1,000 1,000
46,991 41,377

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
100 Ordinary Shares £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 January 2021 (11,421 )
Profit for the year 700
At 31 December 2021 (10,721 )