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REGISTERED NUMBER: 05640907 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PWRTEAMS UK LTD

PWRTEAMS UK LTD (REGISTERED NUMBER: 05640907)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


PWRTEAMS UK LTD (REGISTERED NUMBER: 05640907)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 983,459 921,595
Cash at bank 1,106,642 2,015,160
2,090,101 2,936,755
CREDITORS
Amounts falling due within one year 5 2,824,607 2,974,629
NET CURRENT LIABILITIES (734,506 ) (37,874 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(734,506

)

(37,874

)

CAPITAL AND RESERVES
Called up share capital 6 200 200
Retained earnings (734,706 ) (38,074 )
SHAREHOLDERS' FUNDS (734,506 ) (37,874 )

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





K Saurwalt - Director


PWRTEAMS UK LTD (REGISTERED NUMBER: 05640907)

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

1. STATUTORY INFORMATION

pwrteams UK Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05640907

Registered office: The Scalpel
18th Floor
52 Lime Street
London
EC3M 7AF

The presentation currency of the financial statements is the Pound Sterling (£) and have been rounded to the nearest pound.

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.

Going concern
The directors have prepared detailed cash and profit and loss forecasts which reflect management's plans and the operating environment in order for them to assess the company's ability to continue as a going concern. They have also received confirmation of continued support from the parent company. Following their assessment, the directors have not identified any going concern uncertainties and the financial statements are prepared on a going concern basis.

Comparative period
During the prior period the company changed its accounts reference date from 31 March to 31 December to align with the new parent company's accounting reference date. Consequently the current period profit and loss represents the 12 month period to 31 December 2024 and the comparatives are for a 9 month period.

Related party exemption
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.

Turnover
Turnover represents the fair value of consideration received or receivable in relation to consultancy services, excluding discounts, rebates or value added tax. Turnover is recognised to the extent that there is a right to consideration. Where a contract has only been partially completed at the balance sheet date, turnover represents the fair value of the service provided to date, in accordance with the terms of the contract.

PWRTEAMS UK LTD (REGISTERED NUMBER: 05640907)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and cash equivalents, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost, using the effective interest method unless the arrangement constitutes a financing trans-action, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Amortised cost is determined as being the transaction price less any amounts settled and any impairment losses. Financial assets classified as receivable within one year are not amortised.

A provision for impairment of debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in profit or loss.

Basic financial liabilities
Basic financial liabilities, including trade, group and other creditors (including accruals) payable are initially measured at the transaction price and subsequently measured at amortised cost unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 846,370 867,835
Other debtors 137,089 53,760
983,459 921,595

PWRTEAMS UK LTD (REGISTERED NUMBER: 05640907)

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

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Payments on account 141,883 229,043
Amounts owed to group undertakings 1,633,072 1,664,726
Taxation and social security 471,652 478,525
Other creditors 578,000 602,335
2,824,607 2,974,629

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
198 Ordinary £1 198 198
2 Ordinary B £1 2 2
200 200

Each class of shares has attached to them full voting, dividend and capital distribution (including on winding up) rights; they do not confer any rights of redemption.

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

The Report of the Auditors was unqualified.

Colin Young BA FCA (Senior Statutory Auditor)
for and on behalf of Galloways Accounting

8. ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is Pwrteams OU, a company registered in Estonia. The ultimate parent undertaking is Nortal Group Holding OU, a company registered in Estonia.

The smallest group consolidating the results of the Company is Nortal AS and the largest group consolidating the results of the Company is Nortal Group Holding OU. The registered office of both companies is Harju maakond, Tallinn, Lasnamäe linnaosa, Lõõtsa tn 6, 11415 where copies of the consolidated financial statements may be obtained.