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REGISTERED NUMBER: 07591302 (England and Wales)















Pagis (UK) Limited

Financial Statements For The Year Ended 31 March 2024






Pagis (UK) Limited (Registered number: 07591302)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Pagis (UK) Limited

Company Information
For The Year Ended 31 March 2024







DIRECTORS: Mr A Cooper
Mr G Cooper
Mr R S Cooper





REGISTERED OFFICE: Building 15, Gateway 1000
Arlington Business Park
Stevenage
Hertfordshire
SG1 2FP





REGISTERED NUMBER: 07591302 (England and Wales)

Pagis (UK) Limited (Registered number: 07591302)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Investments 6 100 100
100 100

CURRENT ASSETS
Debtors 7 2,552,124 1,417,889
Cash at bank 2,064,012 3,230,673
4,616,136 4,648,562
CREDITORS
Amounts falling due within one year 8 (234,502 ) (252,439 )
NET CURRENT ASSETS 4,381,634 4,396,123
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,381,734

4,396,223

CAPITAL AND RESERVES
Called up share capital 60 60
Capital redemption reserve 40 40
Retained earnings 4,381,634 4,396,123
SHAREHOLDERS' FUNDS 4,381,734 4,396,223

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Pagis (UK) Limited (Registered number: 07591302)

Statement of Financial Position - continued
31 March 2024


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 September 2024 and were signed on its behalf by:




Mr R S Cooper - Director Mr A Cooper - Director




Mr G Cooper - Director


Pagis (UK) Limited (Registered number: 07591302)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Pagis (UK) 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. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Significant judgements

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

1) Recognition of turnover for on-going contracts at the year end

Turnover is recognised when the outcome of a transaction involving the rendering of services can be reliably estimated. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

1) Amortisation charge

The annual amortisation charge for goodwill is based on an estimate of the useful economic life of the respective asset. This is reviewed periodically by the directors to ensure that this reflects both the external and internal factors.

Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life of five years.

Pagis (UK) Limited (Registered number: 07591302)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 3,610,000
AMORTISATION
At 1 April 2023
and 31 March 2024 3,610,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 100
At 31 March 2023 100

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:


Pagis (UK) Limited (Registered number: 07591302)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

6. FIXED ASSET INVESTMENTS - continued

WMS Underfloor Heating Ltd
Registered office:
Nature of business: Underfloor heating
%
Class of shares: holding
Ordinary 100.00

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,527,003 1,393,747
Directors' current accounts 25,121 24,142
2,552,124 1,417,889

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 274 -
Amounts owed to group undertakings 230,928 231,949
Other creditors - 17,250
Accrued expenses 3,300 3,240
234,502 252,439

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the year end the company was owed by its directors £25,121 (2023: £24,142 owed to).

10. CONTROLLING PARTY

The Company was under the joint control of directors Mr A B Cooper, Mr G D Cooper and Mr R S Cooper throughout the current and previous year. Mr A B Cooper, Mr G D Cooper, and Mr R S Cooper are equal shareholders.