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REGISTERED NUMBER: 03048432 (England and Wales)












PLIMAT (UK) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






PLIMAT (UK) LIMITED (REGISTERED NUMBER: 03048432)

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


PLIMAT (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: S Davies
J Grainger
E Borsje


REGISTERED OFFICE: Unit 7 Newmans Copse Road
Hounsdown Business Park
Totton
Southampton
Hampshire
SO40 9LX


REGISTERED NUMBER: 03048432 (England and Wales)


SENIOR STATUTORY AUDITOR: Tom Young FCA


AUDITORS: Hopper Williams & Bell Limited
Statutory Auditor
Highland House
Mayflower Close
Chandler's Ford
Eastleigh
Hampshire
SO53 4AR


BANKERS: HSBC Bank plc
Mitchell Way
Southampton International Airport
Southampton
Hampshire
SO18 2XU

PLIMAT (UK) LIMITED (REGISTERED NUMBER: 03048432)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 1,585 909

CURRENT ASSETS
Stocks 1,217,439 1,455,764
Debtors 5 3,430,037 2,274,481
Cash at bank 583,178 264,081
5,230,654 3,994,326
CREDITORS
Amounts falling due within one year 6 (1,410,066 ) (969,357 )
NET CURRENT ASSETS 3,820,588 3,024,969
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,822,173

3,025,878

PROVISIONS FOR LIABILITIES 9 (396 ) (172 )
NET ASSETS 3,821,777 3,025,706

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 3,821,675 3,025,604
SHAREHOLDERS' FUNDS 3,821,777 3,025,706

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 20 June 2025 and were signed on its behalf by:





J Grainger - Director


PLIMAT (UK) LIMITED (REGISTERED NUMBER: 03048432)

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


1. STATUTORY INFORMATION

Plimat (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 FRS102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

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 sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically dispatched to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset at cost less residual value over its estimated useful life.

Plant and machinery-25% Straight line
Fixtures and fittings-25% Straight line
Computer equipment-25% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

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

Stock valuation is on an average cost basis.

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.

PLIMAT (UK) LIMITED (REGISTERED NUMBER: 03048432)

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


2. ACCOUNTING POLICIES - continued

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 and lease incentives under operating leases are charged to the income statement 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.

Financial assets
The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances 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 financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities which include trade and other payables, are initially measured at 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 receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 15 ) .

PLIMAT (UK) LIMITED (REGISTERED NUMBER: 03048432)

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


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
COST
At 1 January 2024 44,968 22,103 15,663 82,734
Additions - 792 - 792
At 31 December 2024 44,968 22,895 15,663 83,526
DEPRECIATION
At 1 January 2024 44,968 22,103 14,754 81,825
Charge for year - 116 - 116
At 31 December 2024 44,968 22,219 14,754 81,941
NET BOOK VALUE
At 31 December 2024 - 676 909 1,585
At 31 December 2023 - - 909 909

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 1,050,414 1,027,474
Amounts owed by group undertakings 2,324,562 1,199,562
Other debtors 55,061 47,445
3,430,037 2,274,481

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 537,015 678,028
Taxation and social security 180,833 157,636
Other creditors 692,218 133,693
1,410,066 969,357

Included within other creditors is an invoice financing facility of £637,036 (2023: £nil). The security of this facility can be seen in note 8 below.

7. LEASING AGREEMENTS
At the balance sheet date the company had future commitments under operating leases which totalled £378,780 (2023: £407,541).

PLIMAT (UK) LIMITED (REGISTERED NUMBER: 03048432)

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


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Invoice financing facility 637,036 -

The invoice financing facility is secured by a fixed and floating charge over the company's assets.

9. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 396 172

Deferred tax
£
Balance at 1 January 2024 172
Accelerated capital allowance 224
Balance at 31 December 2024 396

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

The Report of the Auditors was unqualified.

Tom Young FCA (Senior Statutory Auditor)
for and on behalf of Hopper Williams & Bell Limited

11. ULTIMATE CONTROLLING PARTY

The immediate parent is Megagroup Trading Holding B.V. Megagroup Trading Holding B.V, which owns 100% of the share capital in Plimat (UK) Limited.

The ultimate parent and controlling party is Soff Bidco B.V., a company incorporated in the Netherlands. Its registered office address is Doornhoek, 4205 Veghel, Netherlands.

12. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENCIES

The Company's assets have been pledged as security for a debenture given by Ing Commercial Finance B.V. to an intermediate parent company in the Group.