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PLM (UK) Limited
Filleted accounts
31 March 2025
Company registration number: 08545688
PLM (UK) Limited
Directors and other information
Directors Mr K Vasileiou
Company number 08545688
Registered office 12 Stephen Road
Headington
Oxford
OX3 9AY
Accountants Cox Hinkins & Co. Limited
Accountants and Taxation Advisors
The Old Dairy
12 Stephen Road
Headington
Oxford
OX3 9AY
PLM (UK) Limited
Balance sheet
31st March 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 5 4,443 1,493
_______ _______
4,443 1,493
Current assets
Debtors 6 75,501 82,033
Cash at bank and in hand 118,742 114,214
_______ _______
194,243 196,247
Creditors: amounts falling due
within one year 7 ( 106,465) ( 103,512)
_______ _______
Net current assets 87,778 92,735
_______ _______
Net assets 92,221 94,228
_______ _______
Capital and reserves
Called up share capital 8 13,365 13,365
Share premium account 38,758 38,758
Profit and loss account 40,098 42,105
_______ _______
Shareholder funds 92,221 94,228
_______ _______
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 14 July 2025 , and are signed on behalf of the board by:
Mr K Vasileiou
Director
Company registration number: 08545688
PLM (UK) Limited
Notes to the financial statements
Year ended 31st March 2025
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Old Dairy, 12 Stephen Road, Headington, Oxford, OX3 9AY. There was no significant change in the company's principal activity during the year which continued to be the development and commercialisation of software and sale of security systems.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis . The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is not recognised in respect of any timing differences at the reporting date as all are insignificant.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment - 20 % straight line
Office furniture - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).
5. Tangible assets
Computer equipment Office furniture Total
£ £ £
Cost
At 1st April 2024 3,590 965 4,555
Additions 2,822 934 3,756
_______ _______ _______
At 31st March 2025 6,412 1,899 8,311
_______ _______ _______
Depreciation
At 1st April 2024 2,097 965 3,062
Charge for the year 791 15 806
_______ _______ _______
At 31st March 2025 2,888 980 3,868
_______ _______ _______
Carrying amount
At 31st March 2025 3,524 919 4,443
_______ _______ _______
At 31st March 2024 1,493 - 1,493
_______ _______ _______
6. Debtors
2025 2024
£ £
Trade debtors 7,281 7,931
Other debtors 68,220 74,102
_______ _______
75,501 82,033
_______ _______
7. Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 1,852 9,362
Social security and other taxes 13,540 15,879
Other creditors 91,073 78,271
_______ _______
106,465 103,512
_______ _______
8. Called up share capital
Issued, called up and fully paid
2025 2024
No £ No £
Ordinary shares of £ 1.00 each 13,365 13,365 13,365 13,365
_______ _______ _______ _______
9. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2025 2024 2025 2024
£ £ £ £
Loan to director - 9,000 - 9,000
_______ _______ _______ _______
As at 31/03/2024, the company had a receivable amount of £9,000 from a director as a loan. These funds were borrowed on 28/02/2024 and repaid by 27/11/2024.
10. Controlling party
The company was under the control of Mr K Vasileiou throughout the current year.