Company No:
Contents
DIRECTORS | A Gibbons |
P Mellon | |
N Mellon |
REGISTERED OFFICE | Suite 37 Grovewood Business Centre |
Strathclyde Business Park | |
Bellshill | |
United Kingdom |
COMPANY NUMBER | SC667146 (Scotland) |
ACCOUNTANT | S&W Partners LLP |
4th Floor Cumberland House | |
15-17 Cumberland Place | |
Southampton | |
Hampshire | |
SO15 2BG |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 4 |
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2,192,021 | 2,811,804 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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113,654 | 136,974 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets/(liabilities) | 49,440 | (937,310) | ||
Total assets less current liabilities | 2,241,461 | 1,874,494 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of PNA Robots Limited (registered number:
N Mellon
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
PNA Robots Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Suite 37 Grovewood Business Centre, Strathclyde Business Park, Bellshill, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of PNA Robots Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
These financial statements are separate financial statements.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.
The comparative figures displayed on the Statement of Income and Retained Earnings have been restated for classification and presentational purposes.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Listed investments | Other investments | Total | |||
£ | £ | £ | |||
Cost or valuation before impairment | |||||
At 01 August 2023 |
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Additions |
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Disposals | (
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Movement in fair value |
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At 31 July 2024 |
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Carrying value at 31 July 2024 |
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Carrying value at 31 July 2023 |
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£ | £ | ||
Other debtors |
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£ | £ | ||
Amounts owed to Group undertakings |
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Amounts owed to directors |
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Accruals |
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Deferred tax liability |
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Taxation and social security |
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2024 | 2023 | ||
£ | £ | ||
At the beginning of financial year | (
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Charged to the Statement of Income and Retained Earnings | (
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At the end of financial year | (
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Transactions with the entity's directors
2024 | 2023 | ||
£ | £ | ||
Repayments made to the director from the company | (1,150,000) | 0 |
At the year end, the director owed the Company £63,002 (2023 - £1,051,998 owed to the director by the Company). This loan is unsecured, interest free and repayable on demand
The directors do not consider there to be an ultimate controlling party.