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REGISTERED NUMBER: 04908229 (England and Wales)


























FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PERMABOND ENGINEERING ADHESIVES LIMITED

PERMABOND ENGINEERING ADHESIVES LIMITED (REGISTERED NUMBER: 04908229)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PERMABOND ENGINEERING ADHESIVES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr Paolo Grossi
Mr Andrea Grossi



SECRETARY: Mrs Lana Knight



REGISTERED OFFICE: Fleming Court
Leigh Road
Eastleigh
Southampton
Hampshire
SO50 9PD



BUSINESS ADDRESS: Wessex Business Park
Wessex Way
Colden Common
Winchester
Hampshire
SO21 1WP



REGISTERED NUMBER: 04908229 (England and Wales)



SENIOR STATUTORY AUDITOR: Graham Taylor



AUDITORS: Langdowns DFK Limited
Statutory Auditor
Fleming Court
Leigh Road
Eastleigh
Southampton
Hampshire
SO50 9PD

PERMABOND ENGINEERING ADHESIVES LIMITED (REGISTERED NUMBER: 04908229)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,194,260 1,263,244
Investments 6 83,181 83,181
1,277,441 1,346,425

CURRENT ASSETS
Stocks 362,474 331,819
Debtors 7 854,653 705,996
Cash at bank and in hand 5,328,675 4,537,106
6,545,802 5,574,921
CREDITORS
Amounts falling due within one year 8 523,468 580,503
NET CURRENT ASSETS 6,022,334 4,994,418
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,299,775

6,340,843

PROVISIONS FOR LIABILITIES 54,805 59,667
NET ASSETS 7,244,970 6,281,176

CAPITAL AND RESERVES
Called up share capital 9 5,000 5,000
Retained earnings 7,239,970 6,276,176
SHAREHOLDERS' FUNDS 7,244,970 6,281,176

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 20 September 2024 and were signed on its behalf by:





Mr Paolo Grossi - Director


PERMABOND ENGINEERING ADHESIVES LIMITED (REGISTERED NUMBER: 04908229)

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


1. STATUTORY INFORMATION

Permabond Engineering Adhesives 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold land and property - 4% straight line and Land - no depreciation provided
Plant and machinery - 25% straight line
Fixtures and fittings - 10 - 25% on reducing balance
Equipment - 25% straight line

All fixed assets are initially recorded at cost.

Investments in associates
Investments in associate undertakings are recognised at cost.

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.


PERMABOND ENGINEERING ADHESIVES LIMITED (REGISTERED NUMBER: 04908229)

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


3. 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company contributes to defined contribution pension schemes. Contributions payable to the pension schemes are charged to the profit and loss account in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in administrative expenses.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 28 ) .

5. TANGIBLE FIXED ASSETS
Freehold Fixtures
land and Plant and and
property machinery fittings Equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 1,696,775 578,714 316,225 202,978 2,794,692
Additions - 6,013 20,881 3,781 30,675
Disposals - (1,074 ) (1,404 ) (3,779 ) (6,257 )
At 31 December 2023 1,696,775 583,653 335,702 202,980 2,819,110
DEPRECIATION
At 1 January 2023 582,142 523,036 235,424 190,846 1,531,448
Charge for year 49,568 22,716 18,750 8,571 99,605
Eliminated on disposal - (1,029 ) (1,395 ) (3,779 ) (6,203 )
At 31 December 2023 631,710 544,723 252,779 195,638 1,624,850
NET BOOK VALUE
At 31 December 2023 1,065,065 38,930 82,923 7,342 1,194,260
At 31 December 2022 1,114,633 55,678 80,801 12,132 1,263,244

PERMABOND ENGINEERING ADHESIVES LIMITED (REGISTERED NUMBER: 04908229)

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


6. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 January 2023
and 31 December 2023 83,181
NET BOOK VALUE
At 31 December 2023 83,181
At 31 December 2022 83,181

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 411,565 467,010
Amounts owed by group undertakings 138,376 72,508
Amounts owed by participating interests 10,608 59,038
Other debtors 294,104 107,440
854,653 705,996

Included in other debtors is £293,170 (2022: £106,506) in relation to prepayments and accrued income.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 47,224 62,371
Amounts owed to group undertakings 120,796 149,691
Taxation and social security 181,893 201,696
Other creditors 173,555 166,745
523,468 580,503

Included in other creditors is £164,520 (2022: £158,132) in relation to accruals and deferred income.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,000 Ordinary £1 5,000 5,000

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

The Report of the Auditors was unqualified.

Graham Taylor (Senior Statutory Auditor)
for and on behalf of Langdowns DFK Limited

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies where any subsidiary that is a party to the transaction is wholly owned within the group or where transactions have been undertaken under normal market conditions.