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REGISTERED NUMBER: 02541912 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

PROCESS MANAGEMENT INTERNATIONAL LIMITED

PROCESS MANAGEMENT INTERNATIONAL LIMITED (REGISTERED NUMBER: 02541912)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROCESS MANAGEMENT INTERNATIONAL LIMITED

COMPANY INFORMATION
for the year ended 30 June 2024







DIRECTORS: R A Seddon
R J Seddon





REGISTERED OFFICE: Unit 6 Villiers Court
Meriden Business Park
Birmingham Road
Meriden
Warwickshire
CV5 9RN





REGISTERED NUMBER: 02541912 (England and Wales)





ACCOUNTANTS: Dafferns LLP
Chartered Accountants
One Eastwood
Harry Weston Road
Binley Business Park
Coventry
CV3 2UB

PROCESS MANAGEMENT INTERNATIONAL LIMITED (REGISTERED NUMBER: 02541912)

BALANCE SHEET
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 103,564 120,909
Investments 6 75 75
103,639 120,984

CURRENT ASSETS
Debtors 7 2,157,064 1,989,381
Cash at bank 726,202 509,787
2,883,266 2,499,168
CREDITORS
Amounts falling due within one year 8 2,025,948 1,683,915
NET CURRENT ASSETS 857,318 815,253
TOTAL ASSETS LESS CURRENT
LIABILITIES

960,957

936,237

CREDITORS
Amounts falling due after more than one
year

9

(46,299

)

(88,884

)

PROVISIONS FOR LIABILITIES (7,000 ) (7,000 )
NET ASSETS 907,658 840,353

CAPITAL AND RESERVES
Called up share capital 11 52,178 52,178
Share premium 28,351 28,351
Capital redemption reserve 60,649 60,649
Retained earnings 766,480 699,175
SHAREHOLDERS' FUNDS 907,658 840,353

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

PROCESS MANAGEMENT INTERNATIONAL LIMITED (REGISTERED NUMBER: 02541912)

BALANCE SHEET - continued
30 June 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:





R A Seddon - Director


PROCESS MANAGEMENT INTERNATIONAL LIMITED (REGISTERED NUMBER: 02541912)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Process Management International 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 presentational currency of the financial statements is British Pound Sterling (GBP) and the financial statements have been rounded to the nearest £.

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. Revenue is recognised when services are provided.

Intangible assets
Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Intangible assets are amortised on a straight line basis over their useful lives. The useful lives of intangible assets are as follows:-

Computer software- 20% straight line

Tangible fixed assets
Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management.

Repairs and maintenance costs are charged to the Statement of Comprehensive Income in the period in which they are incurred.

Depreciation is calculated so as to write off the cost of tangible fixed assets by equal installments over their estimated useful lives as follows:-

Plant and machinery - 25-33% straight line
Fixtures and fittings - 25% straight line
Motor vehicles - 20% reducing balance/25% straight line

Any gains and losses on the disposal of tangible fixed assets are recognised in the Statement of Comprehensive Income in the year that the disposal takes place.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

PROCESS MANAGEMENT INTERNATIONAL LIMITED (REGISTERED NUMBER: 02541912)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

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.

Development costs
Expenditure on development of products is written off in the year in which it is incurred.

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 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.

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 useful estimated lives. Those held under finance leases are depreciated over the estimated useful lives or the lease term, whichever is the shorter.

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

Rentals paid under operating leases are charged to the profit and loss account as incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 17 ) .

PROCESS MANAGEMENT INTERNATIONAL LIMITED (REGISTERED NUMBER: 02541912)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2023 105,858 101,896 82,563 290,317
Additions 19,760 - 24,809 44,569
Disposals (5,521 ) - - (5,521 )
At 30 June 2024 120,097 101,896 107,372 329,365
DEPRECIATION
At 1 July 2023 65,459 88,519 15,430 169,408
Charge for year 23,790 5,132 29,974 58,896
Eliminated on disposal (2,503 ) - - (2,503 )
At 30 June 2024 86,746 93,651 45,404 225,801
NET BOOK VALUE
At 30 June 2024 33,351 8,245 61,968 103,564
At 30 June 2023 40,399 13,377 67,133 120,909

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 75
NET BOOK VALUE
At 30 June 2024 75
At 30 June 2023 75

The Company's investments at the Balance Sheet date in the share capital of companies include the following:

Essential Genius Limited
Registered office: Unit 6 Villiers Court, Meriden Business Park, Birmingham Road, Meriden, Warwickshire, CV5 9RN
Nature of business: Provision of e-services
%
Class of shares: holding
Ordinary 75.00

PROCESS MANAGEMENT INTERNATIONAL LIMITED (REGISTERED NUMBER: 02541912)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 432,810 434,803
Amounts owed by group undertakings 1,640,169 1,476,728
Other debtors 13,684 22,308
Prepayments and accrued income 70,401 55,542
2,157,064 1,989,381

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 12,030 13,110
Trade creditors 151,104 234,179
Loans - 20,000
Amounts owed to group undertakings 891,711 891,821
Tax 76,926 61,567
Social security and other taxes 130,420 107,753
Other creditors 3,327 2,235
Directors' loan accounts 56,729 -
Accruals and deferred income 703,701 353,250
2,025,948 1,683,915

Amounts owing in respect of Hire Purchase agreements totalling £12,030 (2023: £13,110) which are
secured against the assets acquired.

Amounts owing in respect of the Company's Bank Loan totalling £nil (2023: £20,000) which are secured over the Company's assets.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other loans - 1-2 years - 40,000
Other loans - 2-5 years - 18,333
Hire purchase contracts (see note 10) 46,299 30,551
46,299 88,884

Amounts owing in respect of Hire Purchase agreements totalling £46,299 (2023: £30,551) which are
secured against the assets acquired.

Amounts owing in respect of the Company's Bank Loan totalling £nil (2023: £58,333) which are secured over the Company's assets.

PROCESS MANAGEMENT INTERNATIONAL LIMITED (REGISTERED NUMBER: 02541912)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 12,030 13,110
Between one and five years 46,299 30,551
58,329 43,661

Non-cancellable operating leases
2024 2023
£    £   
Within one year 52,325 56,264
Between one and five years 209,300 209,300
In more than five years 135,173 191,858
396,798 457,422

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
456,073 'A' cumulative preference 10p 45,607 45,607
657,053 'B' ordinary 1p 6,571 6,571
52,178 52,178

The 'A' cumulative shares have priority to any dividend payment out of profits to the holders of any other shares in the capital of the company. On a winding up, 'A' share holders have priority over holders of other shares to unpaid arrears of any accrued dividends and to repayment of their capital at par. At any general meeting each member is entitled to one vote per 'A' share held and to one hundred votes per 'B' share held.

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13. ULTIMATE CONTROLLING PARTY

The controlling party is The PMI & EG Group Limited.