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Registered number: 08537215
PMD Solutions (UK) Ltd
Financial Statements
For The Year Ended 31 May 2023
MUFTI & CO.
FINANCIAL ACCOUNTANTS
14 NATAL ROAD
ILFORD
ESSEX
IG1 2HA
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Director Mr NAEEM BHUNNOO
Company Number 08537215
Registered Office 50 LAYFIELD CRESCENT
HENDON
LONDON
NW4 3UL
Accountants MUFTI & CO.
FINANCIAL ACCOUNTANTS
14 NATAL ROAD
ILFORD
ESSEX
IG1 2HA
Page 1
Page 2
Balance Sheet
Registered number: 08537215
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,353 12,008
10,353 12,008
CURRENT ASSETS
Cash at bank and in hand 379 5,453
379 5,453
Creditors: Amounts Falling Due Within One Year 5 (9,104 ) (13,287 )
NET CURRENT ASSETS (LIABILITIES) (8,725 ) (7,834 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,628 4,174
Creditors: Amounts Falling Due After More Than One Year 6 (672 ) (2,283 )
NET ASSETS 956 1,891
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 954 1,889
SHAREHOLDERS' FUNDS 956 1,891
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For the year ending 31 May 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr NAEEM BHUNNOO
Director
25/04/2024
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
PMD Solutions (UK) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08537215 . The registered office is 50 LAYFIELD CRESCENT, HENDON, LONDON, NW4 3UL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Plant & Machinery 18%
Motor Vehicles 18%
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 1 1
Sales, marketing and distribution 1 1
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 June 2022 7,926 13,781 21,707
Additions 616 - 616
As at 31 May 2023 8,542 13,781 22,323
Depreciation
As at 1 June 2022 5,184 4,515 9,699
Provided during the period 604 1,667 2,271
As at 31 May 2023 5,788 6,182 11,970
Net Book Value
As at 31 May 2023 2,754 7,599 10,353
As at 1 June 2022 2,742 9,266 12,008
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 1,533 1,342
Accruals and deferred income 1,075 1,050
Director's loan account 6,496 10,895
9,104 13,287
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 672 2,283
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7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
8. Directors Advances, Credits and Guarantees
Dividends paid to directors
2023 2022
£ £
Mr NAEEM BHUNNOO 1,000 2,000
9. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 2,000 4,000
10. Controlling Party
The company's controlling party is Mr. Naeem Bhunnoo by virtue of his ownership of (50)% of the issued share capital in the company.
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