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REGISTERED NUMBER: 09174053 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2024

FOR

PERFORMANCE MATERIALS LIMITED

PERFORMANCE MATERIALS LIMITED (REGISTERED NUMBER: 09174053)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st May 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


PERFORMANCE MATERIALS LIMITED

COMPANY INFORMATION
for the Year Ended 31st May 2024







DIRECTORS: Mr M Van Der Zwan
Mr P V Haines
Mr J Moia





REGISTERED OFFICE: 100 Barbirolli Square
Manchester
M2 3BD





REGISTERED NUMBER: 09174053 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

PERFORMANCE MATERIALS LIMITED (REGISTERED NUMBER: 09174053)

STATEMENT OF FINANCIAL POSITION
31st May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,477 2,518

CURRENT ASSETS
Stocks 75,719 85,109
Debtors 5 117,423 30,225
Cash at bank and in hand 35,968 122,175
229,110 237,509
CREDITORS
Amounts falling due within one year 6 (27,930 ) (52,225 )
NET CURRENT ASSETS 201,180 185,284
TOTAL ASSETS LESS CURRENT
LIABILITIES

202,657

187,802

CREDITORS
Amounts falling due after more than one
year

7

(8,000

)

(16,000

)
NET ASSETS 194,657 171,802

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 194,557 171,702
SHAREHOLDERS' FUNDS 194,657 171,802

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th November 2024 and were signed on its behalf by:



Mr J Moia - Director


PERFORMANCE MATERIALS LIMITED (REGISTERED NUMBER: 09174053)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st May 2024


1. STATUTORY INFORMATION

Performance Materials Limited is a private company limited by share capital, incorporated in England and Wales, registration number 09174053. The address of the registered office is 100 Barbirolli Square, Manchester, M2 3BD. The address of the principal place of business is New St Marks Works, St Marks Lane, Manchester, M7 4FE.

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 represents sales to external customers at invoiced amounts less value added tax or local taxes on sales. Revenue is recognised when goods are shipped to the customer.

Turnover principally consists of proceeds from the manufacture of metal structures and parts of structures.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Plant and machinery20% on cost
Fixtures and fittings33% on cost
Computer equipment33% on cost

At each balance sheet date, the Company reviews the carrying amounts of its fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 statement of financial position date.

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.

PERFORMANCE MATERIALS LIMITED (REGISTERED NUMBER: 09174053)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st May 2024


2. ACCOUNTING POLICIES - continued

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents are represented by cash at bank and in hand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st June 2023
and 31st May 2024 8,120 3,125 410 11,655
DEPRECIATION
At 1st June 2023 8,120 607 410 9,137
Charge for year - 1,041 - 1,041
At 31st May 2024 8,120 1,648 410 10,178
NET BOOK VALUE
At 31st May 2024 - 1,477 - 1,477
At 31st May 2023 - 2,518 - 2,518

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,574 12,409
Amounts owed by participating interests 93,878 15,096
Other debtors 15,971 2,720
117,423 30,225

PERFORMANCE MATERIALS LIMITED (REGISTERED NUMBER: 09174053)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st May 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,000 8,000
Trade creditors 925 6,098
Amounts owed to group undertakings 673 -
Taxation and social security 11,956 28,736
Other creditors 6,376 9,391
27,930 52,225

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 8,000 16,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
40 Ordinary A £1.00 40 40
30 Ordinary B £1.00 30 30
30 Ordinary C £1.00 30 30
100 100