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REGISTERED NUMBER: 09566115 (England and Wales)















PEM HOLDINGS LTD

FINANCIAL STATEMENTS

FOR THE PERIOD

1 OCTOBER 2022 TO 31 DECEMBER 2023






PEM HOLDINGS LTD (REGISTERED NUMBER: 09566115)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2022 TO 31 DECEMBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 2


PEM HOLDINGS LTD (REGISTERED NUMBER: 09566115)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 3,820,610 3,820,610

CURRENT ASSETS
Cash at bank 59,561 165,553

CREDITORS
Amounts falling due within one year 5 76,791 76,291
NET CURRENT (LIABILITIES)/ASSETS (17,230 ) 89,262
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,803,380

3,909,872

CAPITAL AND RESERVES
Called up share capital 27 27
Share premium 480,774 480,774
Retained earnings 3,322,579 3,429,071
3,803,380 3,909,872

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 5 July 2024 and were signed on its behalf by:





Dr C R Hewson - Director


PEM HOLDINGS LTD (REGISTERED NUMBER: 09566115)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2022 TO 31 DECEMBER 2023


1. STATUTORY INFORMATION

PEM Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09566115

Registered office: Gloucester House
162 Wellington Street
Long Eaton
Nottingham
Nottinghamshire
NG10 4HS

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

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.


PEM HOLDINGS LTD (REGISTERED NUMBER: 09566115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2022 TO 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at
an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2022 - 2 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2022
and 31 December 2023 3,820,610
NET BOOK VALUE
At 31 December 2023 3,820,610
At 30 September 2022 3,820,610

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 76,278 75,778
Other creditors 513 513
76,791 76,291

PEM HOLDINGS LTD (REGISTERED NUMBER: 09566115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2022 TO 31 DECEMBER 2023


6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Julian Townsend FCA FCCA (Senior Statutory Auditor)
for and on behalf of Dains Audit Limited

7. CONTROLLING PARTIES

The immediate parent undertaking is Vind Holding AS, a company incorporated in Norway.

The ultimate parent undertaking is Vind AS, a company incorporated in Norway.

Copies of these financial statements can be obtained from the Company Secretary at Parkveien 53A 0256, Oslo, Norway.

The ultimate controlling party is Mr H HØegh.