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REGISTERED NUMBER: 05476968 (England and Wales)















PMF PRODUCTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2023






PMF PRODUCTS LIMITED (REGISTERED NUMBER: 05476968)

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










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


PMF PRODUCTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S M Lane
J P Lane





SECRETARY: S M Lane





REGISTERED OFFICE: Unit 28 & 29
Carcroft Enterprise Park
Station Road, Carcroft
Doncaster
South Yorkshire
DN6 8DD





REGISTERED NUMBER: 05476968 (England and Wales)






PMF PRODUCTS LIMITED (REGISTERED NUMBER: 05476968)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 173,036 102,640

CURRENT ASSETS
Stocks 397,408 359,491
Debtors 200,278 225,634
Cash at bank 515,523 455,556
1,113,209 1,040,681
CREDITORS
Amounts falling due within one year 440,004 433,863
NET CURRENT ASSETS 673,205 606,818
TOTAL ASSETS LESS CURRENT
LIABILITIES

846,241

709,458

CREDITORS
Amounts falling due after more than one
year

(47,891

)

(48,353

)

PROVISIONS FOR LIABILITIES (43,259 ) (25,660 )
NET ASSETS 755,091 635,445

CAPITAL AND RESERVES
Called up share capital 54,645 54,645
Share premium 171,192 171,192
Retained earnings 529,254 409,608
SHAREHOLDERS' FUNDS 755,091 635,445

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.

PMF PRODUCTS LIMITED (REGISTERED NUMBER: 05476968)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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:





S M Lane - Director


PMF PRODUCTS LIMITED (REGISTERED NUMBER: 05476968)

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


1. STATUTORY INFORMATION

Pmf Products 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and 10% on 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.

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.

PMF PRODUCTS LIMITED (REGISTERED NUMBER: 05476968)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 309,614
Additions 89,246
Disposals (108,326 )
At 31 December 2023 290,534
DEPRECIATION
At 1 January 2023 206,974
Charge for year 18,850
Eliminated on disposal (108,326 )
At 31 December 2023 117,498
NET BOOK VALUE
At 31 December 2023 173,036
At 31 December 2022 102,640

PMF PRODUCTS LIMITED (REGISTERED NUMBER: 05476968)

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


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2023 35,115
Additions 69,435
At 31 December 2023 104,550
DEPRECIATION
At 1 January 2023 1,463
Charge for year 5,071
At 31 December 2023 6,534
NET BOOK VALUE
At 31 December 2023 98,016
At 31 December 2022 33,652

5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 45,715 32,216
Invoice discounting facility 113,530 128,552
159,245 160,768

Assets held under hire purchase are secured on the relevant asset.

The invoice discounting facility is secured by a debenture over various assets of the company.