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REGISTERED NUMBER: 07690911 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

PETER REED INTERNATIONAL LIMITED

PETER REED INTERNATIONAL LIMITED (REGISTERED NUMBER: 07690911)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PETER REED INTERNATIONAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: B A Scharf
A D Martens





REGISTERED OFFICE: Butterworth Mill
30B Churchill Way
Lomeshaye Industrial Estate
Nelson
Lancashire
BB9 6RT





REGISTERED NUMBER: 07690911 (England and Wales)





AUDITORS: Ainsworths Limited
Chartered Accountants
and Statutory Auditors
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY

PETER REED INTERNATIONAL LIMITED (REGISTERED NUMBER: 07690911)

BALANCE SHEET
31ST DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 292,947 324,043
Tangible assets 5 13,796 16,351
306,743 340,394

CURRENT ASSETS
Stocks 180,931 158,569
Debtors 6 155,051 76,276
Cash at bank 27,102 46,916
363,084 281,761
CREDITORS
Amounts falling due within one year 7 229,177 173,742
NET CURRENT ASSETS 133,907 108,019
TOTAL ASSETS LESS CURRENT
LIABILITIES

440,650

448,413

CREDITORS
Amounts falling due after more than one
year

8

3,893,352

3,830,780
NET LIABILITIES (3,452,702 ) (3,382,367 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 837,987 837,987
Retained earnings (4,291,689 ) (4,221,354 )
SHAREHOLDERS' FUNDS (3,452,702 ) (3,382,367 )

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 Board of Directors and authorised for issue on 28th February 2025 and were signed on its behalf by:





B A Scharf - Director


PETER REED INTERNATIONAL LIMITED (REGISTERED NUMBER: 07690911)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

Peter Reed 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.

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.

The financial statements have been prepared on a going concern basis which assumes that the company will be able to meet its liabilities as they fall due. The ultimate parent company, Standard Fiber LLC, has confirmed that it will provide support for at least 12 months following the approval of these financial statements. If the company were unable to continue to trade, adjustments would have to be made to reduce the value of the assets to their recoverable amounts, to provide for any further liabilities that may arise, and to reclassify fixed assets and any long term liabilities as current assets and liabilities respectively.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of twenty years.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Land and buildings- 20% on cost
Plant and machinery etc-33% on cost and 20% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, handling and production costs in bringing stocks to their present location and condition.


PETER REED INTERNATIONAL LIMITED (REGISTERED NUMBER: 07690911)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. ACCOUNTING POLICIES - continued
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.

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.

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.

Payments in respect of other post-retirement benefits are charged to profit or loss in the period to which they relate.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

PETER REED INTERNATIONAL LIMITED (REGISTERED NUMBER: 07690911)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st January 2024 740,691 228,327 969,018
Additions - 12,000 12,000
At 31st December 2024 740,691 240,327 981,018
AMORTISATION
At 1st January 2024 453,675 191,300 644,975
Charge for year 37,035 6,061 43,096
At 31st December 2024 490,710 197,361 688,071
NET BOOK VALUE
At 31st December 2024 249,981 42,966 292,947
At 31st December 2023 287,016 37,027 324,043

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2024 1,431 306,002 307,433
Additions - 9,139 9,139
At 31st December 2024 1,431 315,141 316,572
DEPRECIATION
At 1st January 2024 1,259 289,823 291,082
Charge for year 159 11,535 11,694
At 31st December 2024 1,418 301,358 302,776
NET BOOK VALUE
At 31st December 2024 13 13,783 13,796
At 31st December 2023 172 16,179 16,351

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 114,555 26,979
Other debtors 40,496 49,297
155,051 76,276

PETER REED INTERNATIONAL LIMITED (REGISTERED NUMBER: 07690911)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 10,000 10,140
Trade creditors 166,769 136,117
Taxation and social security 20,947 15,296
Other creditors 31,461 12,189
229,177 173,742

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans 6,574 16,434
Amounts owed to group undertakings 3,886,778 3,814,346
3,893,352 3,830,780

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Group undertakings 3,881,978 3,814,346

Amounts owed to the parent undertaking Standard Fiber LLC are secured by fixed and floating charges over all property of the company.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Sunter (Senior Statutory Auditor)
for and on behalf of Ainsworths Limited

11. OTHER FINANCIAL COMMITMENTS

At 31st December 2024 the company had total commitments under non-cancellable operating leases over the remaining life of those leases amounting to £18,169 (2023: £50,404).

12. RELATED PARTY DISCLOSURES

During the year the company sold goods totalling £87 (2023: £387) to Standard Fiber LLC, its parent undertaking registered in the United States of America. In addition the company was provided with goods, services and cash flow funding on an interest free basis totalling £99,000 (2022: £Nil). All transactions were carried out on an arms length basis.

As at 31st December 2024 the company owed £3,881,978 (2023: £3,814,346) to Standard Fiber LLC, such balances being converted at prevailing exchange rates.

PETER REED INTERNATIONAL LIMITED (REGISTERED NUMBER: 07690911)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


13. ULTIMATE CONTROLLING PARTY

In the opinion of the directors the ultimate controlling party of the company is the majority shareholder and parent undertaking Standard Fiber LLC, a company registered in the United States of America.