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REGISTERED NUMBER: SC666324 (Scotland)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

PM53 LIMITED

PM53 LIMITED (REGISTERED NUMBER: SC666324)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PM53 LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2024







DIRECTOR: N Morgan



REGISTERED OFFICE: 22 Backbrae Street
Kilsyth
Glasgow
G65 0NH



REGISTERED NUMBER: SC666324 (Scotland)



ACCOUNTANTS: Curle & Co
Chartered Accountants
22 Backbrae Street
Kilsyth
G65 0NH



BANKERS: TSB
50 - 60 St Vincent Street
Glasgow
G2 5TU

PM53 LIMITED (REGISTERED NUMBER: SC666324)

BALANCE SHEET
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,540 6,053

CURRENT ASSETS
Stocks 5 30,000 61,118
Debtors 6 33,414 12,877
Cash at bank 51,895 21,389
115,309 95,384
CREDITORS
Amounts falling due within one year 7 119,110 93,022
NET CURRENT (LIABILITIES)/ASSETS (3,801 ) 2,362
TOTAL ASSETS LESS CURRENT
LIABILITIES

739

8,415

PROVISIONS FOR LIABILITIES - 1,135
NET ASSETS 739 7,280

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 639 7,180
739 7,280

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

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

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.

PM53 LIMITED (REGISTERED NUMBER: SC666324)

BALANCE SHEET - continued
31 July 2024



The financial statements were approved by the director and authorised for issue on 8 April 2025 and were signed by:





N Morgan - Director


PM53 LIMITED (REGISTERED NUMBER: SC666324)

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

1. STATUTORY INFORMATION

PM53 Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover and revenue recognition
Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided to the customer.

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
Motor vehicles - 25% on reducing balance

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, and handling costs in bringing stocks to their present location and condition.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

PM53 LIMITED (REGISTERED NUMBER: SC666324)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 2,093 9,350 11,443
DEPRECIATION
At 1 August 2023 752 4,638 5,390
Charge for year 335 1,178 1,513
At 31 July 2024 1,087 5,816 6,903
NET BOOK VALUE
At 31 July 2024 1,006 3,534 4,540
At 31 July 2023 1,341 4,712 6,053

5. STOCKS
31.7.24 31.7.23
£    £   
Stocks 20,000 51,118
Work-in-progress 10,000 10,000
30,000 61,118

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 33,297 12,877
Deferred tax asset 117 -
33,414 12,877

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 55,144 32,329
Social security and other taxes (12 ) (24 )
VAT 1,070 8,761
Other creditors 1,404 544
Directors' current accounts 57,182 48,940
Accrued expenses 4,322 2,472
119,110 93,022

8. FINANCIAL INSTRUMENTS

The company only has basic financial assets and liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at transaction value and subsequently measured at their
settlement value.

PM53 LIMITED (REGISTERED NUMBER: SC666324)

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

9. ULTIMATE CONTROLLING PARTY

The company is wholly owned and controlled by the director.