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REGISTERED NUMBER: SC500434 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

PMID LTD

PMID LTD (Registered number: SC500434)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PMID LTD

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTOR: Mr P MacDonald





REGISTERED OFFICE: Unit 17 Colvilles Park
East Kilbride
Glasgow
G75 0GZ





REGISTERED NUMBER: SC500434 (Scotland)





ACCOUNTANTS: R.A.M.
Unit 17, Colvilles Park
Kelvin Industrial Estate
East Kilbride
South Lanarkshire
G75 0GZ

PMID LTD (Registered number: SC500434)

STATEMENT OF FINANCIAL POSITION
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 74,148 64,405

CURRENT ASSETS
Stocks 7,207 9,581
Debtors 4 115,898 187,796
Cash at bank and in hand 54,032 65,265
177,137 262,642
CREDITORS
Amounts falling due within one year 5 158,342 161,543
NET CURRENT ASSETS 18,795 101,099
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,943

165,504

CREDITORS
Amounts falling due after more than one
year

6

53,936

59,162
NET ASSETS 39,007 106,342

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 39,001 106,336
SHAREHOLDERS' FUNDS 39,007 106,342

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PMID LTD (Registered number: SC500434)

STATEMENT OF FINANCIAL POSITION - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 April 2024 and were signed by:





Mr P MacDonald - Director


PMID LTD (Registered number: SC500434)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024


1. 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 50% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

PMID LTD (Registered number: SC500434)

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


3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 59,166 3,667 80,607 6,014 149,454
Additions 18,238 - 17,995 - 36,233
Disposals - - (9,951 ) (6,014 ) (15,965 )
At 31 March 2024 77,404 3,667 88,651 - 169,722
DEPRECIATION
At 1 April 2023 41,518 - 37,517 6,014 85,049
Charge for year 8,973 917 14,829 - 24,719
Eliminated on disposal - - (8,180 ) (6,014 ) (14,194 )
At 31 March 2024 50,491 917 44,166 - 95,574
NET BOOK VALUE
At 31 March 2024 26,913 2,750 44,485 - 74,148
At 31 March 2023 17,648 3,667 43,090 - 64,405

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 113,116 187,796
Other debtors 2,782 -
115,898 187,796

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 3,450 5,344
Hire purchase contracts 20,570 11,593
Trade creditors 73,165 88,570
Taxation and social security 55,055 47,362
Other creditors 6,102 8,674
158,342 161,543

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 32,269 27,495
Other creditors 21,667 31,667
53,936 59,162