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REGISTERED NUMBER: 04243188 (England and Wales)















PMT (GB) LIMITED

Audited Financial Statements for the Year Ended 31 October 2024






PMT (GB) LIMITED (REGISTERED NUMBER: 04243188)






Contents of the Financial Statements
for the year ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6


PMT (GB) LIMITED

Company Information
for the year ended 31 October 2024







Director: D Jessen





Secretary: I Norman





Registered office: Willow End Park
Danemoor
Malvern
Worcestershire
WR13 6NN





Registered number: 04243188 (England and Wales)





Auditors: Cooper Parry Group Limited
Statutory Auditor
CUBO Birmingham
4th Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX

PMT (GB) LIMITED (REGISTERED NUMBER: 04243188)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 24,887 21,217

Current assets
Stocks 5 35,125 25,784
Debtors 6 325,083 357,521
Cash at bank 516,871 241,563
877,079 624,868
Creditors
Amounts falling due within one year 7 326,879 207,629
Net current assets 550,200 417,239
Total assets less current liabilities 575,087 438,456

Provisions for liabilities 10 3,205 2,053
Net assets 571,882 436,403

Capital and reserves
Called up share capital 11 50,000 50,000
Retained earnings 521,882 386,403
Shareholders' funds 571,882 436,403

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 June 2025 and were signed by:





D Jessen - Director


PMT (GB) LIMITED (REGISTERED NUMBER: 04243188)

Notes to the Financial Statements
for the year ended 31 October 2024

1. Statutory information

PMT (GB) 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
PMT (GB) Limited is a private company limited by shares incorporated and domiciled in the United Kingdom and registered in England and Wales.

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
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is recognised to the extent that it is probably that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.

Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of turnover can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

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 - 20% on cost
Fixtures and fittings - 25% on cost
Demo instruments - 33% on cost
Computer equipment - 33% 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 Profit & Loss Account, 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.

PMT (GB) LIMITED (REGISTERED NUMBER: 04243188)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

2. Accounting policies - continued

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.

Operating lease commitments
Rentals paid under operating leases are charged to profit or loss 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 instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the profit or loss.

There are no assets which are initially measured at fair value.

Financial liabilities
Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised at transaction price, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

3. Employees and directors

The average number of employees during the year was 10 (2023 - 10 ) .

PMT (GB) LIMITED (REGISTERED NUMBER: 04243188)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

4. Tangible fixed assets
Fixtures
Plant and and Demo Computer
machinery fittings instruments equipment Totals
£    £    £    £    £   
Cost
At 1 November 2023 42,795 16,349 155,560 86,469 301,173
Additions 10,671 - 1,964 1,414 14,049
At 31 October 2024 53,466 16,349 157,524 87,883 315,222
Depreciation
At 1 November 2023 39,277 16,349 140,704 83,626 279,956
Charge for year 1,222 - 7,336 1,821 10,379
At 31 October 2024 40,499 16,349 148,040 85,447 290,335
Net book value
At 31 October 2024 12,967 - 9,484 2,436 24,887
At 31 October 2023 3,518 - 14,856 2,843 21,217

5. Stocks
2024 2023
£    £   
Stocks 35,125 25,784

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 314,960 325,516
Other debtors - 150
Prepayments 10,123 31,855
325,083 357,521

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 92,037 26,142
Tax 43,871 21,494
Social security and other taxes 10,628 12,104
VAT 29,317 19,419
Deferred income 104,758 62,308
Accrued expenses 46,268 66,162
326,879 207,629

8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 81,173 82,258
Between one and five years 34,784 57,158
115,957 139,416

PMT (GB) LIMITED (REGISTERED NUMBER: 04243188)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

9. Secured debts

HSBC UK holds a debenture including a fixed charged over all present freehold and leasehold property, first fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and first floating charge over all assets and undertaking both present and future dated March 2002.

10. Provisions for liabilities
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 3,205 2,053

Deferred
tax
£   
Balance at 1 November 2023 2,053
Accelerated capital allowances 1,152
Balance at 31 October 2024 3,205

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50,000 Ordinary £1 50,000 50,000

12. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Martin Firbank (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited

13. Related party disclosures

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.

14. Ultimate controlling party

There is no ultimate controlling party, no one individual controls the ultimate parent company Jessen Beteiligungen GmbH & Co.KG.