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REGISTERED NUMBER: 02541912 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

PROCESS MANAGEMENT INTERNATIONAL LIMITED

PROCESS MANAGEMENT INTERNATIONAL LIMITED (REGISTERED NUMBER: 02541912)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROCESS MANAGEMENT INTERNATIONAL LIMITED

COMPANY INFORMATION
for the year ended 30 June 2023







DIRECTORS: R A Seddon
R J Seddon





REGISTERED OFFICE: Unit 6 Villiers Court
Meriden Business Park
Birmingham Road
Meriden
Warwickshire
CV5 9RN





REGISTERED NUMBER: 02541912 (England and Wales)





ACCOUNTANTS: Dafferns LLP
Chartered Accountants
One Eastwood
Harry Weston Road
Binley Business Park
Coventry
CV3 2UB

PROCESS MANAGEMENT INTERNATIONAL LIMITED (REGISTERED NUMBER: 02541912)

BALANCE SHEET
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 55,409
Tangible assets 6 120,909 92,290
Investments 7 75 75
120,984 147,774

CURRENT ASSETS
Debtors 8 1,989,381 2,057,226
Cash at bank 509,787 139,433
2,499,168 2,196,659
CREDITORS
Amounts falling due within one year 9 1,683,915 1,571,357
NET CURRENT ASSETS 815,253 625,302
TOTAL ASSETS LESS CURRENT
LIABILITIES

936,237

773,076

CREDITORS
Amounts falling due after more than one
year

10

(88,884

)

(78,333

)

PROVISIONS FOR LIABILITIES (7,000 ) (14,000 )
NET ASSETS 840,353 680,743

CAPITAL AND RESERVES
Called up share capital 12 52,178 52,178
Share premium 28,351 28,351
Capital redemption reserve 60,649 60,649
Retained earnings 699,175 539,565
SHAREHOLDERS' FUNDS 840,353 680,743

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

PROCESS MANAGEMENT INTERNATIONAL LIMITED (REGISTERED NUMBER: 02541912)

BALANCE SHEET - continued
30 June 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2023 and were signed on its behalf by:





R A Seddon - Director


PROCESS MANAGEMENT INTERNATIONAL LIMITED (REGISTERED NUMBER: 02541912)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2023

1. STATUTORY INFORMATION

Process Management International 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised when services are provided.

Intangible assets
Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Intangible assets are amortised on a straight line basis over their useful lives. The useful lives of intangible assets are as follows:-

Computer software- 20% straight line

Tangible fixed assets
Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management.

Repairs and maintenance costs are charged to the statement of comprehensive income in the period in which they are incurred.

Depreciation is calculated so as to write off the cost of tangible fixed assets by equal installments over their estimated useful lives as follows:-

Plant and machinery etc- 25-33% straight line

Any gains and losses on the disposal of tangible fixed assets are recognised in the statement of comprehensive income in the year that the disposal takes place.

PROCESS MANAGEMENT INTERNATIONAL LIMITED (REGISTERED NUMBER: 02541912)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

3. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

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.

Development costs
Expenditure on development of products is written off in the year in which it is incurred.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. 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.

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.

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 useful estimated lives. Those held under finance leases are depreciated over the estimated useful lives or the lease term, whichever is the shorter.

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

Rentals paid under operating leases are charged to the profit and loss account as incurred.

PROCESS MANAGEMENT INTERNATIONAL LIMITED (REGISTERED NUMBER: 02541912)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 16 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2022 84,048
Disposals (84,048 )
At 30 June 2023 -
AMORTISATION
At 1 July 2022 28,639
Eliminated on disposal (28,639 )
At 30 June 2023 -
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 55,409

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 273,924
Additions 77,244
Disposals (60,851 )
At 30 June 2023 290,317
DEPRECIATION
At 1 July 2022 181,634
Charge for year 47,791
Eliminated on disposal (60,017 )
At 30 June 2023 169,408
NET BOOK VALUE
At 30 June 2023 120,909
At 30 June 2022 92,290

PROCESS MANAGEMENT INTERNATIONAL LIMITED (REGISTERED NUMBER: 02541912)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2022
and 30 June 2023 75
NET BOOK VALUE
At 30 June 2023 75
At 30 June 2022 75

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Essential Genius Limited
Registered office: Unit 6 Villiers Court, Meriden Business Park, Birmingham Road, Meriden, Warwickshire, CV5 9RN
Nature of business: Provision of e-services
%
Class of shares: holding
Ordinary 75.00

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 434,803 444,152
Amounts owed by group undertakings 1,476,728 1,527,956
Other debtors 22,308 21,173
Prepayments and accrued income 55,542 63,945
1,989,381 2,057,226

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 11) 13,110 -
Trade creditors 234,179 138,594
Loans 20,000 79,583
Amounts owed to group undertakings 891,821 891,917
Tax 61,567 5,800
Social security and other taxes 107,753 133,377
Other creditors 2,235 1,499
Accruals and deferred income 353,250 320,587
1,683,915 1,571,357

PROCESS MANAGEMENT INTERNATIONAL LIMITED (REGISTERED NUMBER: 02541912)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other loans - 1-2 years 40,000 40,000
Other loans - 2-5 years 18,333 38,333
Hire purchase contracts (see note 11) 30,551 -
88,884 78,333

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 13,110 -
Between one and five years 30,551 -
43,661 -

Non-cancellable operating leases
2023 2022
£    £   
Within one year 56,264 55,793
Between one and five years 209,300 211,901
In more than five years 191,858 235,463
457,422 503,157

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
456,073 'A' cumulative preference 10p 45,607 45,607
657,053 'B' ordinary 1p 6,571 6,571
52,178 52,178

The 'A' cumulative shares have priority to any dividend payment out of profits to the holders of any other shares in the capital of the company. On a winding up, 'A' share holders have priority over holders of other shares to unpaid arrears of any accrued dividends and to repayment of their capital at par. At any general meeting each member is entitled to one vote per 'A' share held and to one hundred votes per 'B' share held.