Puls UK Limited 03341504 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is wholesale of electronic and telecommunications equipment and parts. Digita Accounts Production Advanced 6.30.9574.0 true false 03341504 2023-01-01 2023-12-31 03341504 2023-12-31 03341504 core:CurrentFinancialInstruments 2023-12-31 03341504 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03341504 core:FurnitureFittingsToolsEquipment 2023-12-31 03341504 core:MotorVehicles 2023-12-31 03341504 bus:SmallEntities 2023-01-01 2023-12-31 03341504 bus:Audited 2023-01-01 2023-12-31 03341504 bus:FullAccounts 2023-01-01 2023-12-31 03341504 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03341504 bus:RegisteredOffice 2023-01-01 2023-12-31 03341504 bus:Director1 2023-01-01 2023-12-31 03341504 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03341504 core:ComputerEquipment 2023-01-01 2023-12-31 03341504 core:FurnitureFittings 2023-01-01 2023-12-31 03341504 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 03341504 core:MotorVehicles 2023-01-01 2023-12-31 03341504 1 2023-01-01 2023-12-31 03341504 countries:EnglandWales 2023-01-01 2023-12-31 03341504 countries:Germany 2023-01-01 2023-12-31 03341504 2022-12-31 03341504 core:FurnitureFittingsToolsEquipment 2022-12-31 03341504 core:MotorVehicles 2022-12-31 03341504 2022-01-01 2022-12-31 03341504 2022-12-31 03341504 core:CurrentFinancialInstruments 2022-12-31 03341504 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 03341504 core:FurnitureFittingsToolsEquipment 2022-12-31 03341504 core:MotorVehicles 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 03341504

Puls UK Limited

Annual Report and Filleted Financial Statements

for the Year Ended 31 December 2023

image-name
 

Puls UK Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Puls UK Limited

Company Information

Director

Mr B Erdl

Registered office

Cranfield Innovation Centre
University Way
Cranfield
Bedfordshire
MK43 0BT

Auditors

Michael J Emery & Co Limited
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

 

Puls UK Limited

(Registration number: 03341504)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

58,754

35,914

Current assets

 

Stocks

5

482,179

647,383

Debtors

6

854,738

580,938

Cash at bank and in hand

 

1,663,548

1,232,468

 

3,000,465

2,460,789

Creditors: Amounts falling due within one year

7

(374,548)

(648,879)

Net current assets

 

2,625,917

1,811,910

Total assets less current liabilities

 

2,684,671

1,847,824

Provisions for liabilities

(10,229)

(3,831)

Net assets

 

2,674,442

1,843,993

Capital and reserves

 

Called up share capital

2

2

Retained earnings

2,674,440

1,843,991

Shareholders' funds

 

2,674,442

1,843,993

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 3 May 2024
 

.........................................
Mr B Erdl
Director

 

Puls UK Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Cranfield Innovation Centre
University Way
Cranfield
Bedfordshire
MK43 0BT

These financial statements were authorised for issue by the director on 3 May 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 14 May 2024 was Michael Emery ACA, who signed for and on behalf of Michael J Emery & Co Limited.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Puls UK Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Computer equipment

33% straight line

Other fixed assets

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Puls UK Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Puls UK Limited

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

3

Staff numbers

The average number of persons employed by the company during the year, including the director, was 4 (2022 - 4).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

36,581

65,086

101,667

Additions

37,780

-

37,780

At 31 December 2023

74,361

65,086

139,447

Depreciation

At 1 January 2023

25,668

40,085

65,753

Charge for the year

8,878

6,062

14,940

At 31 December 2023

34,546

46,147

80,693

Carrying amount

At 31 December 2023

39,815

18,939

58,754

At 31 December 2022

10,913

25,001

35,914

 

Puls UK Limited

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

5

Stocks

2023
£

2022
£

Inventory

482,179

647,383

6

Debtors

Current

2023
£

2022
£

Trade debtors

643,561

563,128

Prepayments

18,359

17,810

VAT Control account

192,818

-

 

854,738

580,938

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

20,348

19,040

Amounts owed to group undertakings and undertakings in which the company has a participating interest

172,664

426,905

Accruals and deferred income

 

47,606

45,352

Other creditors

 

1,718

1,464

PAYE and NIC creditor

 

5,910

5,528

VAT Control account

 

-

81,201

Corporation tax control

 

126,302

69,389

 

374,548

648,879

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £6,758 (2022 - £24,134).

 

Puls UK Limited

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

9

Relationship between entity and parents

The parent of the smallest group in which these financial statements are consolidated is PULS GmbH, incorporated in Germany.

The address of PULS GmbH is:
Elektrastrasse 6 81925, Munich, Germany