Company registration number 03578727 (England and Wales)
PMB (EUROPE) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
PMB (EUROPE) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PMB (EUROPE) LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
896,695
896,695
Current assets
-
-
Creditors: amounts falling due within one year
6
(2,065,113)
(2,065,113)
Net current liabilities
(2,065,113)
(2,065,113)
Net liabilities
(1,168,418)
(1,168,418)
Capital and reserves
Called up share capital
100,000
100,000
Profit and loss reserves
(1,268,418)
(1,268,418)
Total equity
(1,168,418)
(1,168,418)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 30 October 2024
P M Beckwith
Director
Company Registration No. 03578727
PMB (EUROPE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information

PMB (Europe) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 Cresswells Mead, Maidenhead, United Kingdom, SL6 2YP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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.

Preparation of consolidated financial statements

The financial statements contain information about PMB Europe Limited as an individual company and do not contain consolidated financial information as parent of the group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Summary of disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements as permitted by FRS 102 Section 1A ''The Financial Reporting Standard applicable in the UK and Republic of Ireland''.

- the requirements of Section 33 Related Party Disclosures relating to transactions with its 100%

ultimate parent company PMB Holdings Limited.

1.2
Going concern

The company's accounts show net liabilities of £1,168,418. The company's liabilities represent amounts due to their parent undertaking and the ultimate controlling party. The parent company and ultimate controlling party have agreed not to seek repayment of their respective loans until the company has sufficient funds to repay it. These financial statements are therefore prepared on a going concern basis.

1.3
Fixed asset investments

Investments are stated at cost less a provision for any permanent diminution in value.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

PMB (EUROPE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

Investments

Directors have made judgements when reviewing the value of the company's investments. When making their judgements they have reviewed the net assets of the company and their ability to make profits in the future.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
896,695
896,695
5
Subsidiaries

Details of the company's subsidiaries at 31 January 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Redmill Properties Limited
England and Wales
Ordinary
100.00
6
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
1,065,846
1,065,846
Other creditors
999,267
999,267
2,065,113
2,065,113
PMB (EUROPE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
7
Parent company

The ultimate parent company is PMB Holdings Limited, a company registered in England and Wales.

The ultimate controlling party is P M Beckwith.

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