Registered number
12699144
Ping Technology Labs Ltd
Filleted Accounts
30 June 2025
Ping Technology Labs Ltd
Registered number: 12699144
Balance Sheet
as at 30 June 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 69,774 41,850
Tangible assets 4 8,606 6,673
Investments 5 286,729 239,378
365,109 287,901
Current assets
Debtors 6 2,658 1,329
Cash at bank and in hand 136,915 228,924
139,573 230,253
Creditors: amounts falling due within one year 8 (32,385) (34,038)
Net current assets 107,188 196,215
Net assets 472,297 484,116
Capital and reserves
Called up share capital 100 100
Profit and loss account 472,197 484,016
Shareholder's funds 472,297 484,116
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Timur Gok
Director
Approved by the board on 28 August 2025
Ping Technology Labs Ltd
Notes to the Accounts
for the year ended 30 June 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Software asset:
Cost
At 1 July 2024 56,813
Additions 59,570
At 30 June 2025 116,383
Amortisation
At 1 July 2024 14,963
Provided during the year 31,646
At 30 June 2025 46,609
Net book value
At 30 June 2025 69,774
At 30 June 2024 41,850
Software assets are being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2024 11,718
Additions 4,084
At 30 June 2025 15,802
Depreciation
At 1 July 2024 5,045
Charge for the year 2,151
At 30 June 2025 7,196
Net book value
At 30 June 2025 8,606
At 30 June 2024 6,673
5 Investments
Other
investments
£
Cost
At 1 July 2024 239,378
Additions 58,314
Revaluation (10,963)
At 30 June 2025 286,729
6 Debtors 2025 2024
£ £
Other debtors 2,658 1,329
7 Investments held as current assets 2025 2024
£ £
Fair value
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments 6,115 28,752
8 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans, overdrafts and credit cards 7,247 12,614
Taxation and social security costs 13,100 17,941
Other creditors 12,038 3,483
32,385 34,038
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Timur Gok
Directors loan 670 2,668 (680) 2,658
670 2,668 (680) 2,658
10 Controlling party
The ultimate controlling party is Timur Gok, who owns 100% of the company's shareholding.
11 Other information
Ping Technology Labs Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Grampian House
Suite 4 Floor 3
144 Deansgate
Manchester
M3 3EE
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