Silverfin false 01 August 2025 01 August 2025 Nikinder Baller Praxis 114,391 133,115 false true 31/12/2024 01/01/2024 31/12/2024 Diana Anna Janczewska 01/05/2024 Simone Mr. Porzio 01/05/2024 05/03/2021 01 August 2025 The principal activity of the Company during the financial year was scientific and technical consulting activities. 13247511 2024-12-31 13247511 bus:Director1 2024-12-31 13247511 bus:Director2 2024-12-31 13247511 core:CurrentFinancialInstruments 2024-12-31 13247511 core:CurrentFinancialInstruments 2023-12-31 13247511 2023-12-31 13247511 core:ShareCapital 2024-12-31 13247511 core:ShareCapital 2023-12-31 13247511 core:RetainedEarningsAccumulatedLosses 2024-12-31 13247511 core:RetainedEarningsAccumulatedLosses 2023-12-31 13247511 core:ImmediateParent core:CurrentFinancialInstruments 2024-12-31 13247511 core:ImmediateParent core:CurrentFinancialInstruments 2023-12-31 13247511 bus:OrdinaryShareClass1 2024-12-31 13247511 2024-01-01 2024-12-31 13247511 bus:FilletedAccounts 2024-01-01 2024-12-31 13247511 bus:SmallEntities 2024-01-01 2024-12-31 13247511 bus:Audited 2024-01-01 2024-12-31 13247511 2023-01-01 2023-12-31 13247511 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13247511 bus:Director1 2024-01-01 2024-12-31 13247511 bus:Director2 2024-01-01 2024-12-31 13247511 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 13247511 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 13247511 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 13247511 1 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13247511 (England and Wales)

PQE GROUP LTD

Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

PQE GROUP LTD

Financial Statements

For the financial year ended 31 December 2024

Contents

PQE GROUP LTD

COMPANY INFORMATION

For the financial year ended 31 December 2024
PQE GROUP LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
DIRECTOR Diana Anna Janczewska (Appointed 01 May 2024)
Simone Mr. Porzio (Resigned 01 May 2024)
REGISTERED OFFICE 34 St. James's Street
First Floor
London
SW1A 1HD
United Kingdom
COMPANY NUMBER 13247511 (England and Wales)
AUDITOR Praxis
Statutory Auditor
1 Fore Street Avenue
London
EC2Y 9DT
United Kingdom
PQE GROUP LTD

BALANCE SHEET

As at 31 December 2024
PQE GROUP LTD

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Current assets
Debtors 3 683,518 510,314
Cash at bank and in hand 58,374 301,427
741,892 811,741
Creditors: amounts falling due within one year 4 ( 523,195) ( 707,435)
Net current assets 218,697 104,306
Total assets less current liabilities 218,697 104,306
Net assets 218,697 104,306
Capital and reserves
Called-up share capital 5 20,000 20,000
Profit and loss account 198,697 84,306
Total shareholders' funds 218,697 104,306

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of PQE Group Ltd (registered number: 13247511) were approved and authorised for issue by the Director on 01 August 2025. They were signed on its behalf by:

Diana Anna Janczewska
Director
PQE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
PQE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

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.

General information and basis of accounting

PQE Group Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 34 St. James's Street, First Floor, London, SW1A 1HD, 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 Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
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.

Financial instruments

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.

Basic financial assets
Basic financial assets, which include debtors 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 financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 9 7

3. Debtors

2024 2023
£ £
Trade debtors 250,698 379,105
Amounts owed by Group undertakings 164,636 83,098
Other debtors 268,184 48,111
683,518 510,314

Amounts owed by Group and parent undertakings are repayable on demand and do not bear interest.

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 25,917 32,321
Amounts owed to Group undertakings 150,935 51,742
Amounts owed to Parent undertakings 210,723 361,210
Corporation tax 73,637 27,364
Other taxation and social security 30,562 54,889
Other creditors 31,421 179,909
523,195 707,435

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts owed to Group and parent undertakings are repayable on demand and do not bear interest.

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
20,000 Ordinary shares of £ 1.00 each 20,000 20,000

6. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 2,168 1,050

7. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.

8. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 December 2024 was unqualified.

The audit report was signed by Nikinder Baller on behalf of Praxis.

9. Ultimate controlling party

Parent Company:

Pharma Quality Europe SRL
103/C Localita Prulli
Reggello
FI
Italy
50066