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REGISTERED NUMBER: 10738285 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

PYMETRICS UK LTD

PYMETRICS UK LTD (REGISTERED NUMBER: 10738285)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PYMETRICS UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







Director: P S Custodio





Registered office: Suite 2 First Floor
10 Temple Back
Bristol
United Kingdom
BS1 6FL





Registered number: 10738285 (England and Wales)





Auditors: Mark Arber Limited
Statutory Auditors
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

PYMETRICS UK LTD (REGISTERED NUMBER: 10738285)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 166,525 65,757
Cash at bank 54,118 153,492
220,643 219,249
CREDITORS
Amounts falling due within one year 5 (57,808 ) (109,999 )
NET CURRENT ASSETS 162,835 109,250
TOTAL ASSETS LESS CURRENT
LIABILITIES

162,835

109,250

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 162,735 109,150
SHAREHOLDERS' FUNDS 162,835 109,250

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 director and authorised for issue on 2 November 2023 and were signed by:





P S Custodio - Director


PYMETRICS UK LTD (REGISTERED NUMBER: 10738285)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. GENERAL INFORMATION

Pymetrics UK Ltd 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 Company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared on going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at the revalued amount or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Going concern
These accounts have been drawn up on the going concern basis. The company is dependent upon the support of its parent company to meet its working capital requirements. The parent company has suffered recuring losses from operations that raise doubt about its ability to continue as a going concern. This in turn creates uncertainty over the ability of Pymetrics UK Limited to continue as a going concern. The company has been dormant since the year end and has laid off all of its employees thus reducing costs to a minimum. The directors are therefore confident that they will secure financing to enable the group to continue as a going concern for a period exceeding twelve months from the date these financial statements were approved by the board. No adjustments have been made in these accounts which might result from that uncertainty.

Statement of compliance
These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 102 Section 1A (Small Entities) and the Companies Act 2006.

Turnover
Turnover represents income earned from the parent, Pymetrics, Inc., based on a cost plus agreement.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the 31/01/2022. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

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 12 (2022 - 14 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 166,525 62,657
Other debtors - 2,513
VAT - 587
166,525 65,757

PYMETRICS UK LTD (REGISTERED NUMBER: 10738285)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 7,862 20,685
Social security and other taxes 38,784 42,410
Other creditors 6,912 3,516
Accrued expenses 4,250 43,388
57,808 109,999

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.


As detailed in note 2 to the financial statements these accounts have been drawn up on the going concern basis. The company is dependent upon the support of its parent company to meet its working capital requirements. The parent company has suffered recuring losses from operations that raise doubt about its ability to continue as a going concern. This in turn creates uncertainty over the ability of Pymetrics UK Limited to continue as a going concern. The company has been dormant since the year end and has laid off all of its employees thus reducing costs to a minimum. The directors are therefore confident that they will secure financing to enable the group to continue as a going concern for a period exceeding twelve months from the date these financial statements were approved by the board. No adjustments have been made in these accounts which might result from that uncertainty. Our report is not qualified in this respect.

Mark Arber (Senior Statutory Auditor)
for and on behalf of Mark Arber Limited

7. RELATED PARTY DISCLOSURES

The company has taken the exemption provided by FRS 102 Section 33.1A not to disclose related party transactions with wholly owned subsidiaries within the group.

8. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Pymetrics, Inc, a company incorporated in the United States of America.

In August 2022 Pymetrics, Inc. and its subsidiaries were acquired by Outmatch Inc, a company also incorporated in the United States of America and now considered the ultimate parent company of Pymetrics UK Limited.

The ultimate controlling party is unknown.