REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2023 |
FOR |
PYMETRICS UK LTD |
REGISTERED NUMBER: |
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: |
Registered office: |
Registered number: |
Auditors: |
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 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
VAT |
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 |
Social security and other taxes |
Other creditors |
Accrued expenses |
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. |
for and on behalf of |
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. |