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REGISTERED NUMBER: 04121725 (England and Wales)








PAE BUSINESS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






PAE BUSINESS LIMITED (REGISTERED NUMBER: 04121725)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

PAE BUSINESS LIMITED

COMPANY INFORMATION
for the year ended 31 December 2024







DIRECTORS: P G Madders
P Donohue
Mrs D J Madders





SECRETARY: Mrs D J Madders





REGISTERED OFFICE: Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR





REGISTERED NUMBER: 04121725 (England and Wales)





ACCOUNTANTS: Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR

PAE BUSINESS LIMITED (REGISTERED NUMBER: 04121725)

BALANCE SHEET
31 December 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 3,049 2,775
Investments 5 4,395 4,395
7,444 7,170

CURRENT ASSETS
Debtors 6 150,223 116,415
Cash at bank 185,606 263,455
335,829 379,870
CREDITORS
Amounts falling due within one year 7 (127,522 ) (143,221 )
NET CURRENT ASSETS 208,307 236,649
TOTAL ASSETS LESS CURRENT LIABILITIES 215,751 243,819

PROVISIONS FOR LIABILITIES (760 ) (1,060 )
NET ASSETS 214,991 242,759

CAPITAL AND RESERVES
Called up share capital 113 113
Share premium 23,975 23,975
Capital redemption reserve 12 12
Retained earnings 190,891 218,659
SHAREHOLDERS' FUNDS 214,991 242,759

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

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

PAE BUSINESS LIMITED (REGISTERED NUMBER: 04121725)

BALANCE SHEET - continued
31 December 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 January 2025 and were signed on its behalf by:





P G Madders - Director


PAE BUSINESS LIMITED (REGISTERED NUMBER: 04121725)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024


1. STATUTORY INFORMATION

PAE Business 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 company's principal place of business is 3 Tannery House, Tannery Lane, Send, Guildford, Surrey, GU23 7EF.

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.

Preparation of consolidated financial statements
The financial statements contain information about PAE Business Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and services provided in the ordinary course of the company's business.

In the case of products and licenses, revenue is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer and the amount of revenue can be measured reliably.

Revenue from the provision of services is recognised when the service is provided and the revenue can be measured reliably, based on the terms of the contract.

Tangible fixed assets
Tangible fixed assets are stated at their historic cost price less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for use. The asset's residual values, useful lives and depreciation methods are reviewed if there is an indication of significant change since the last reporting date.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery- 20% on cost

On disposal the difference between the net proceeds and carrying amount of the item sold is recognised in profit or loss, and included in administrative expenses.

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

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 balance sheet date.


PAE BUSINESS LIMITED (REGISTERED NUMBER: 04121725)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


2. ACCOUNTING POLICIES - continued
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.

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.

Financial instruments
Financial instruments are classified as basic or non-basic following the conditions on FRS 102 Section 11. Basic financial instruments are initially measured at transaction price (including transaction cost) and subsequently recognised at amortised cost using the effective interest method. The company does not have any non-basic financial instruments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£
COST
At 1 January 2024 19,114
Additions 1,639
At 31 December 2024 20,753
DEPRECIATION
At 1 January 2024 16,339
Charge for year 1,365
At 31 December 2024 17,704
NET BOOK VALUE
At 31 December 2024 3,049
At 31 December 2023 2,775

PAE BUSINESS LIMITED (REGISTERED NUMBER: 04121725)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 January 2024
and 31 December 2024 4,395
NET BOOK VALUE
At 31 December 2024 4,395
At 31 December 2023 4,395

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

PAE NL B.V.
Registered office: Herengracht 280, 1016BX Amsterdam
Nature of business: Sale of computer software, hardware and related services.

%
Class of shares: holding
Ordinary 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 143,413 110,668
Other debtors 6,810 5,747
150,223 116,415

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 47,012 56,887
Amounts owed to group undertakings 8,931 10,031
Taxation and social security 67,854 72,339
Other creditors 3,725 3,964
127,522 143,221

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 31,899 14,399
Between one and five years - 15,599
31,899 29,998

PAE BUSINESS LIMITED (REGISTERED NUMBER: 04121725)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, the following amounts were due from directors and are included within debtors:
P G Madders : £372 (2023: £237)
Mrs D J Madders: £372 (2023: £351)
P Donohue: £351 (2023: £Nil)

The loans are unsecured, interest free and repayable on demand.

10. 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.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PAE BUSINESS LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PAE Business Limited for the year ended 31 December 2024 which comprise the Profit and loss account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of PAE Business Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of PAE Business Limited and state those matters that we have agreed to state to the Board of Directors of PAE Business Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PAE Business Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that PAE Business Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PAE Business Limited. You consider that PAE Business Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of PAE Business Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Directors, who obtains access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk.






Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR


21 January 2025