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REGISTERED NUMBER: 03743347 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

PPM Technology Limited

PPM Technology Limited (Registered number: 03743347)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

PPM Technology Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: Mr J B Jones
Mr E Davies
Mrs L J Roberts
Mr R O Jones





SECRETARY: Mr J B Jones





REGISTERED OFFICE: Unit 34
Cibyn Industrial Estate
Caernarfon
Gwynedd
LL55 2BD





REGISTERED NUMBER: 03743347 (England and Wales)





ACCOUNTANTS: Emyr Mortimer Cyf
4 Lower Cardiff Road
Pwllheli
Gwynedd
LL53 5BY

PPM Technology Limited (Registered number: 03743347)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 229,445 230,045

CURRENT ASSETS
Stocks 85,000 75,000
Debtors 5 61,474 58,331
Cash at bank and in hand 2,471,589 2,364,964
2,618,063 2,498,295
CREDITORS
Amounts falling due within one year 6 76,265 114,404
NET CURRENT ASSETS 2,541,798 2,383,891
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,771,243

2,613,936

CREDITORS
Amounts falling due after more than
one year

7

(67

)

(54

)

PROVISIONS FOR LIABILITIES 8 (7,788 ) (7,499 )
NET ASSETS 2,763,388 2,606,383

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,762,388 2,605,383
2,763,388 2,606,383

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

PPM Technology Limited (Registered number: 03743347)

Balance Sheet - continued
31 August 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 19 August 2024 and were signed on its behalf by:





Mr J B Jones - Director


PPM Technology Limited (Registered number: 03743347)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

PPM Technology 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

PPM Technology Limited (Registered number: 03743347)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

Research and development
Research expenditure is written off in the year in which it is incurred.
Development expenditure incurred is capitalised as an intangible asset only when all of the following
criteria are met:
- It is technically feasible to complete the intangible asset so that it will be available for use or sale;
- There is the intention to complete the intangible asset and use or sell it;
- There is the ability to use or sell the intangible asset;
- The use or sale of the intangible asset will generate probable future economic benefits;
- There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and
- The expenditure attributable to the intangible asset during its development can be measured reliably.
Expenditure that does not meet the above criteria is expensed as incurred.

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 9 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2022 211,728 225,342 437,070
Additions - 13,547 13,547
At 31 August 2023 211,728 238,889 450,617
DEPRECIATION
At 1 September 2022 21,156 185,869 207,025
Charge for year 2,117 12,030 14,147
At 31 August 2023 23,273 197,899 221,172
NET BOOK VALUE
At 31 August 2023 188,455 40,990 229,445
At 31 August 2022 190,572 39,473 230,045

PPM Technology Limited (Registered number: 03743347)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 58,694 44,593
Other debtors 2,780 13,738
61,474 58,331

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 10,120 25,475
Taxation and social security 14,452 34,396
Other creditors 51,693 54,533
76,265 114,404

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.8.23 31.8.22
£    £   
Other creditors 67 54

8. PROVISIONS FOR LIABILITIES
31.8.23 31.8.22
£    £   
Deferred tax 7,788 7,499

Deferred
tax
£   
Balance at 1 September 2022 7,499
Accelerated capital allowances 289
Balance at 31 August 2023 7,788

9. RELATED PARTY DISCLOSURES

Creditors include an amount owing re: IAQ Ltd in the sum of £27,268. One director is also the director of that company.

10. CONTROLLING PARTY

The company is controlled by the directors as detailed in their report.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
PPM Technology Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PPM Technology Limited for the year ended 31 August 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of PPM Technology Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of PPM Technology Limited and state those matters that we have agreed to state to the Board of Directors of PPM Technology Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PPM Technology Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that PPM Technology Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PPM Technology Limited. You consider that PPM Technology Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of PPM Technology Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Emyr Mortimer Cyf
4 Lower Cardiff Road
Pwllheli
Gwynedd
LL53 5BY


Date: .............................................