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REGISTERED NUMBER: 06838137 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PMW DYNAMICS LIMITED

PMW DYNAMICS LIMITED (REGISTERED NUMBER: 06838137)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PMW DYNAMICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: E C Hunter Smart
C Olsen





REGISTERED OFFICE: 19 Newman Lane
Alton
Hampshire
GU34 2QW





REGISTERED NUMBER: 06838137 (England and Wales)





ACCOUNTANTS: Landers Accountants Ltd
Church View Chambers
38 Market Square
Toddington
Bedfordshire
LU5 6BS

PMW DYNAMICS LIMITED (REGISTERED NUMBER: 06838137)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 729,943 773,519
729,943 773,519

CURRENT ASSETS
Stocks 162,176 213,691
Debtors 6 4,902,538 4,827,275
Cash at bank 162,065 328,487
5,226,779 5,369,453
CREDITORS
Amounts falling due within one year 7 276,967 217,310
NET CURRENT ASSETS 4,949,812 5,152,143
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,679,755

5,925,662

CREDITORS
Amounts falling due after more than one
year

8

-

(388,164

)

PROVISIONS FOR LIABILITIES (24,936 ) (45,713 )
NET ASSETS 5,654,819 5,491,785

PMW DYNAMICS LIMITED (REGISTERED NUMBER: 06838137)

BALANCE SHEET - continued
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 5,654,817 5,491,783
5,654,819 5,491,785

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

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

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 and authorised for issue by the Board of Directors and authorised for issue on 5 July 2024 and were signed on its behalf by:




C Olsen - Director



E C Hunter Smart - Director


PMW DYNAMICS LIMITED (REGISTERED NUMBER: 06838137)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

PMW Dynamics 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

Grants
A grant is recognised only when there is reasonable assurance that (a) the entity will comply with any conditions attached to the grant and (b) the grant will be received.
Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
A grant that becomes receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, is recognised in income in the period in which it becomes receivable

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.


PMW DYNAMICS LIMITED (REGISTERED NUMBER: 06838137)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 17 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 168,763
AMORTISATION
At 1 January 2023
and 31 December 2023 168,763
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

PMW DYNAMICS LIMITED (REGISTERED NUMBER: 06838137)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 749,414 258,615 129,489 46,899 1,184,417
Additions - 15,727 - - 15,727
At 31 December 2023 749,414 274,342 129,489 46,899 1,200,144
DEPRECIATION
At 1 January 2023 106,418 173,588 119,167 11,725 410,898
Charge for year 10,492 30,472 6,614 11,725 59,303
At 31 December 2023 116,910 204,060 125,781 23,450 470,201
NET BOOK VALUE
At 31 December 2023 632,504 70,282 3,708 23,449 729,943
At 31 December 2022 642,996 85,027 10,322 35,174 773,519

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 331,613 207,979
Amounts owed by group undertakings 4,531,720 4,532,721
Other debtors 39,205 86,575
4,902,538 4,827,275

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts - 24,360
Trade creditors 105,634 70,093
Taxation and social security 103,088 62,791
Other creditors 68,245 60,066
276,967 217,310

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 388,164