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REGISTERED NUMBER: 06040939 (England and Wales)














Audited Financial Statements

for the Year Ended 31 December 2024

for

Project Materials UK Limited

Project Materials UK Limited (Registered number: 06040939)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Project Materials UK Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: A C Christie
R Smith





REGISTERED OFFICE: 4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX





REGISTERED NUMBER: 06040939 (England and Wales)





AUDITORS: Bristow Burrell
Statutory Auditors
4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX

Project Materials UK Limited (Registered number: 06040939)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 18,896 22,743

CURRENT ASSETS
Stocks - 14,200
Debtors 5 720,082 2,059,672
Cash at bank and in hand 436,483 705,025
1,156,565 2,778,897
CREDITORS
Amounts falling due within one
year

6

752,154

2,604,735
NET CURRENT ASSETS 404,411 174,162
TOTAL ASSETS LESS CURRENT
LIABILITIES

423,307

196,905

PROVISIONS FOR LIABILITIES 3,837 -
NET ASSETS 419,470 196,905

CAPITAL AND RESERVES
Called up share capital 8 100,000 100,000
Retained earnings 319,470 96,905
SHAREHOLDERS' FUNDS 419,470 196,905

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 9 May 2025 and were signed on its behalf by:





A C Christie - Director


Project Materials UK Limited (Registered number: 06040939)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Project Materials UK 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 12.5% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

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

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.

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.

Project Materials UK Limited (Registered number: 06040939)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2024 22,074 18,436 13,562 54,072
Additions - - 1,865 1,865
At 31 December 2024 22,074 18,436 15,427 55,937
DEPRECIATION
At 1 January 2024 21,150 1,229 8,950 31,329
Charge for year 295 3,687 1,730 5,712
At 31 December 2024 21,445 4,916 10,680 37,041
NET BOOK VALUE
At 31 December 2024 629 13,520 4,747 18,896
At 31 December 2023 924 17,207 4,612 22,743

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 543,818 1,219,114
Other debtors 176,264 840,558
720,082 2,059,672

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 529,841 649,814
Taxation and social security 192,139 55,946
Other creditors 30,174 1,898,975
752,154 2,604,735

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 19,952 -
Between one and five years 31,585 25,033
51,537 25,033

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
100,000 Ordinary £1 100,000 100,000

Project Materials UK Limited (Registered number: 06040939)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

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

The Report of the Auditors was unqualified.

Bruce Sleap FCA (Senior Statutory Auditor)
for and on behalf of Bristow Burrell

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£    £   
A C Christie
Balance outstanding at start of year 50,135 47,266
Amounts advanced 12,514 3,963
Amounts repaid (5,370 ) (1,094 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 57,279 50,135

11. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemptions provided by Section 33 (Related Party Disclosures) of FRS 102 and has not disclosed transactions entered into between two or more members of a group, if any subsidiary undertaking which is party to the transaction is wholly owned by a member of that group. All transactions with other group companies that are not wholly owned have been undertaken under normal market conditions.

During the year Project Materials UK Ltd paid off its 51% parent company Project Materials GmbH intercompany loan which now has a nil balance due (2023: £293,664). During the year interest charged on this loan was £14,650 (2023: £17,211). During the year the parent company charged the company £37,561 (2023: £37,561) for management fees.

12. ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Party is Philip Myburgh by virtue of his 77.2% shareholding in the parent company, Project Materials GmbH.

The registered office address for the parent company, Project Materials GmbH, is Schiessstr. 68, 40549, Düsseldorf, Germany.