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REGISTERED NUMBER: NI609800 (Northern Ireland)

















Unaudited Financial Statements

for the Period 30 August 2022 to 30 June 2023

for

Pendulum Management Limited

Pendulum Management Limited (Registered number: NI609800)






Contents of the Financial Statements
for the Period 30 August 2022 to 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pendulum Management Limited

Company Information
for the Period 30 August 2022 to 30 June 2023







DIRECTORS: Mr T A Kelman
Mr A P Smith





REGISTERED OFFICE: 34 Ormiston Crescent
Belfast
BT4 3JQ





REGISTERED NUMBER: NI609800 (Northern Ireland)





ACCOUNTANTS: Sutton McGrath Hartley Limited
5 Westbrook Court
Sharrowvale Road
Sheffield
S11 8YZ

Pendulum Management Limited (Registered number: NI609800)

Balance Sheet
30 June 2023

2023 2022
Notes £ £
CURRENT ASSETS
Debtors 4 103,266 65,700
Cash at bank and in hand 360,457 294,691
463,723 360,391
CREDITORS
Amounts falling due within one year 5 149,056 70,244
NET CURRENT ASSETS 314,667 290,147
TOTAL ASSETS LESS CURRENT LIABILITIES 314,667 290,147

CREDITORS
Amounts falling due after more than one year 6 437,067 445,400
NET LIABILITIES (122,400 ) (155,253 )

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (122,410 ) (155,263 )
SHAREHOLDERS' FUNDS (122,400 ) (155,253 )

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

Pendulum Management Limited (Registered number: NI609800)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 February 2024 and were signed on its behalf by:





Mr A P Smith - Director


Pendulum Management Limited (Registered number: NI609800)

Notes to the Financial Statements
for the Period 30 August 2022 to 30 June 2023

1. STATUTORY INFORMATION

Pendulum Management Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

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.

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

Government grants
Grants are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

Taxation
Taxation for the period 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 period 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.

Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore adopts the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 2 ) .

Pendulum Management Limited (Registered number: NI609800)

Notes to the Financial Statements - continued
for the Period 30 August 2022 to 30 June 2023

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 12,777 22,474
Other debtors 90,489 43,226
103,266 65,700

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 16,000 24,396
Taxation and social security 77,522 8,668
Other creditors 45,534 27,180
149,056 70,244

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 19,167 27,500
Other creditors 417,900 417,900
437,067 445,400

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 321,462 353,608

Pendulum Management Limited (Registered number: NI609800)

Notes to the Financial Statements - continued
for the Period 30 August 2022 to 30 June 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 29,167 37,500
Other loans 417,900 417,900
447,067 455,400

Included in bank loans is the amount borrowed under the Government's Bounce Back Loan scheme. The amount is repayable by installments over 6 years with interest charged at 2.5% monthly. The Government acts as guarantor to the lender of this loan.

Included in other loans is the amount borrowed from The Secretary of State for the Department for Digital, Culture, Media and Sport. This loan is secured by floating charges on the company's assets. The amount is repayable by installments with interest charged at 2%.