PDI (EUROPE) LIMITED

Company Registration Number:
03758669 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2023

Period of accounts

Start date: 01 July 2022

End date: 30 June 2023

PDI (EUROPE) LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2023

Balance sheet
Notes

PDI (EUROPE) LIMITED

Balance sheet

As at 30 June 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 2,378 7,454
Total fixed assets: 2,378 7,454
Current assets
Stocks: 6,672 6,965
Debtors:   627,036 574,951
Cash at bank and in hand: 18,659 57,730
Total current assets: 652,367 639,646
Creditors: amounts falling due within one year:   (393,796) (378,265)
Net current assets (liabilities): 258,571 261,381
Total assets less current liabilities: 260,949 268,835
Creditors: amounts falling due after more than one year:   (171,317) (223,258)
Total net assets (liabilities): 89,632 45,577
Capital and reserves
Called up share capital: 2,000 2,000
Share premium account: 49,000 49,000
Other reserves: 2,000 2,000
Profit and loss account: 36,632 (7,423)
Shareholders funds: 89,632 45,577

The notes form part of these financial statements

PDI (EUROPE) LIMITED

Balance sheet statements

For the year ending 30 June 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 05 March 2024
and signed on behalf of the board by:

Name: Mr David Platt
Status: Director

The notes form part of these financial statements

PDI (EUROPE) LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

TurnoverTurnover is measured at the fair value of the consideration received or receivable, net of discounts and value addedtaxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover isreduced for estimated customer returns, rebates and other similar allowances.Sale of goodsTurnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods hastransferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.Rendering of servicesTurnover from the rendering of services is recognised by reference to the stage of completion of the contract. Thestage of completion of a contract is measured by comparing the costs incurred for work performed to date to the totalestimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of acontract cannot be estimated reliably.

Tangible fixed assets and depreciation policy

Tangible Fixed Assets and DepreciationTangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value,over their expected useful lives on the following bases:Motor Vehicles 33% on costFixtures & Fittings 33% on costComputer Equipment 20% to 33% on cost

Valuation and information policy

Stocks and Work in ProgressStocks and work in progress are valued at the lower of cost and net realisable value after making due allowance forobsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variableoverheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover andrelated costs as contract activity progresses.Foreign CurrenciesMonetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at thebalance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of thetransaction. Exchange differences are taken into account in arriving at the operating profit.

Other accounting policies

TaxationIncome tax expense represents the sum of the tax currently payable and deferred tax.The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in thestatement of comprehensive income because of items of income or expense that are taxable or deductible in otheryear and items that are never taxable or deductible. The company's liability for current tax is calculated using tax ratesthat have been enacted or substantively enacted by the end of the reporting period.Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financialstatements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities aregenerally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductibletemporary differences to the extent that it is probable that taxable profits will be available against which thosedeductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of eachreporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be availableto allow all or part of the asset to be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which theliability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantivelyenacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities anddeferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequencesthat would follow from the manner in which the Company expects, at the end of the reporting period, to recover orsettle the carrying amount of its assets and liabilities.Current or deferred tax for the year is recognised in profit or loss, except when they related to items that arerecognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is alsorecognised in other comprehensive income or directly in equity respectively.PensionsThe company operates a defined pension contribution scheme. Contributions are charged to the profit and loss accountas they become payable in accordance with the rules of the scheme.DebtorsShort term debtors are measured at transaction price (which is usually the invoice price), less any impairment lossesfor bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including anytransaction costs and subsequently measured at amortised cost determined using the effective interest method, lessany impairment losses for bad and doubtful debts.CreditorsShort term creditors are measured at transaction price (which is usually the invoice price). Loans and other financialliabilities are initially recognised at transaction price net of any transaction costs and subsequently measured atamortised cost determined using the effective interest method.

PDI (EUROPE) LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

2. Employees

2023 2022
Average number of employees during the period 12 12

PDI (EUROPE) LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Tangible Assets

Total
Cost £
At 01 July 2022 176,783
Additions 1,731
At 30 June 2023 178,514
Depreciation
At 01 July 2022 169,329
Charge for year 6,807
At 30 June 2023 176,136
Net book value
At 30 June 2023 2,378
At 30 June 2022 7,454