IRIS Accounts Production v25.2.0.378 10301341 Board of Directors 31.8.24 1.9.23 31.8.24 31.8.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. 69 66 true true false true true false false false true false Ordinary 0 B Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh103013412023-08-31103013412024-08-31103013412023-09-012024-08-31103013412022-08-31103013412022-09-012023-08-31103013412023-08-3110301341ns15:EnglandWales2023-09-012024-08-3110301341ns14:PoundSterling2023-09-012024-08-3110301341ns10:Director12023-09-012024-08-3110301341ns10:Consolidated2024-08-3110301341ns10:ConsolidatedGroupCompanyAccounts2023-09-012024-08-3110301341ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3110301341ns10:Consolidatedns10:MediumEntities2023-09-012024-08-3110301341ns10:Consolidatedns10:Audited2023-09-012024-08-3110301341ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3110301341ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3110301341ns10:Consolidated2023-09-012024-08-3110301341ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-09-012024-08-3110301341ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2023-09-012024-08-3110301341ns10:FullAccounts2023-09-012024-08-311030134112023-09-012024-08-3110301341ns10:OrdinaryShareClass12023-09-012024-08-3110301341ns10:OrdinaryShareClass22023-09-012024-08-3110301341ns10:Director22023-09-012024-08-3110301341ns10:RegisteredOffice2023-09-012024-08-3110301341ns10:Consolidated2022-09-012023-08-3110301341ns5:CurrentFinancialInstruments2024-08-3110301341ns5:CurrentFinancialInstruments2023-08-3110301341ns5:ShareCapital2024-08-3110301341ns5:ShareCapital2023-08-3110301341ns5:RetainedEarningsAccumulatedLosses2024-08-3110301341ns5:RetainedEarningsAccumulatedLosses2023-08-3110301341ns5:ShareCapital2022-08-3110301341ns5:RetainedEarningsAccumulatedLosses2022-08-3110301341ns5:ShareCapital2022-09-012023-08-3110301341ns5:RetainedEarningsAccumulatedLosses2022-09-012023-08-3110301341ns5:ShareCapital2023-09-012024-08-3110301341ns5:RetainedEarningsAccumulatedLosses2023-09-012024-08-3110301341ns5:IntangibleAssetsOtherThanGoodwill2023-09-012024-08-3110301341ns5:ComputerSoftware2023-09-012024-08-3110301341ns5:PlantMachinery2023-09-012024-08-3110301341ns5:FurnitureFittings2023-09-012024-08-3110301341ns5:MotorVehicles2023-09-012024-08-3110301341ns5:ComputerEquipment2023-09-012024-08-3110301341ns5:CostValuation2023-08-3110301341ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3110301341ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3110301341ns10:OrdinaryShareClass12024-08-3110301341ns10:OrdinaryShareClass22024-08-31
REGISTERED NUMBER: 10301341 (England and Wales)















PIONEER HOLDINGS GLOBAL LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 14

Consolidated Statement of Changes in Equity 15

Company Statement of Changes in Equity 16

Consolidated Cash Flow Statement 17

Notes to the Consolidated Cash Flow Statement 18

Notes to the Consolidated Financial Statements 20


PIONEER HOLDINGS GLOBAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: C Appleyard
P Childerhouse





REGISTERED OFFICE: Unit 5
Hamilton Road
S Park Business Park
Stockport
SK1 2AE





REGISTERED NUMBER: 10301341 (England and Wales)





AUDITORS: Clarke Nicklin LLP
Chartered Accountants and
Statutory Auditors
Clarke Nicklin House
Brooks Drive
Cheadle Royal Business Park
Cheadle
Cheshire
SK8 3TD

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024


The directors present their strategic report of the company and the group for the year ended 31 August 2024.

Pioneer Digital Solutions Limited specializes in supplying Audio Visual Solutions, Electrical and Infrastructure Services to the QSR (Quick Service Restaurants), Sports Stadia, Ministry of Defence, Corporate, automotive, and NHS sectors.

REVIEW OF BUSINESS
The 2023/2024 fiscal year was a key year for Pioneer Digital Solutions, with a key focus on strategic execution for future expansion. The company achieved growth on the previous financial year, despite a year marked by economic uncertainty, talent shortages, and rising supply chain costs.

We have expanded our Sales Team, resulting in 42 new clients, a 74.2% increase over the previous year, and enabled the business to expand into uncharted verticals. With the increase in new clients, our focus shifted towards upskilling our current staff and strategically expanding divisions to deliver this growth.

This performance reflects our commitment to innovation, operational discipline, and customer-centric growth.
By focusing on these areas, Pioneer Digital Solutions is well-positioned to achieve its strategic goals in YE25. Regular performance reviews and agile adjustments will ensure sustained success.

PRINCIPAL RISKS AND UNCERTAINTIES
The management of the business and sectors served are subject to a number of risks but the directors are confident that the current operational and management systems that the company adopts is adequate to identify and manage any arising issues.

FINANCIAL RISK MANAGEMENT

The group is exposed to a number of financial risks including the effect of credit risk and exchange rate movements.

The group's credit risk is primarily attributable to its trade debtors. Credit risk is managed by way of assessing and continuously monitoring customers credit ratings and managing credit terms provided to customers accordingly.

The group is exposed to currency exchange movement when purchasing equipment for projects. This is managed by the way of fixing pricing with suppliers when providing quotes to customers.

LIQUIDITY RISK

The group regularly forecast cash flow to ensure that sufficient funds are available for operational requirements.


PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024

KEY PERFORMANCE INDICATORS
2024 2023
£    £   

Revenue 12,055 11,926
Profit before tax 1,089 1,560
Staff retention 95% 81%
New clients 42 24
Improve sustainability
Reduce fuel costs 93 106
Reduce electricity costs 25 27
Gross profit margin 28.2% 28.1%


ON BEHALF OF THE BOARD:





C Appleyard - Director


29 August 2025

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 AUGUST 2024


The directors present their report with the financial statements of the company and the group for the year ended 31 August 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of electrical equipment installation and maintenance.

DIVIDENDS
The total distribution of dividends in the period ended 31 August 2024 was £425,178 (2023: £432,773).

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.

C Appleyard
P Childerhouse

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 AUGUST 2024


AUDITORS
The auditors, Clarke Nicklin LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





C Appleyard - Director


29 August 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PIONEER HOLDINGS GLOBAL LIMITED


Qualified opinion
We have audited the financial statements of Pioneer Holdings Global Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, except for the possible effects of the matter described in the Basis for Qualified Opinion, the financial statements give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice and in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion
The Group's inventories include stock and work-in-progress (WIP). We were not present at the stock count at the year-end (or at an alternative date) and were unable to satisfy ourselves by alternative means concerning inventory quantities. Furthermore, the information provided in respect of WIP was limited, and we were unable to obtain sufficient appropriate audit evidence to support the amounts recorded. Consequently, we were unable to determine whether any adjustment might be necessary in respect of inventories, cost of sales, and the elements of the Statement of Financial Position and Statement of Comprehensive Income that are affected by these matters.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs UK)) and applicable law. Our responsibilities under those standards are further described int he Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements int he UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PIONEER HOLDINGS GLOBAL LIMITED


Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

Arising solely from the limitation on the scope of our work relating to inventories, referred to above:
- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and
- we were unable to determine whether adequate accounting records have been kept.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- returns adequate for our audit have not been received from branches not visited by us; or
- certain disclosures of directors' remuneration specified by law are not made.


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PIONEER HOLDINGS GLOBAL LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Procedures to identify risks:
- enquiring of management concerning the company's procedures relating to: identifying, evaluating and
complying with laws and regulations and whether they were aware of any instances of noncompliance;
detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected
or alleged fraud;
- discussing among the engagement team regarding how and where fraud might occur in the financial
statements and any potential indicators of fraud. As part of this discussion, we identified potential for fraud
in the following areas: timing of recognition of sales and purchases and their related stock movements,
posting of unusual journals; and
- obtaining an understanding of the legal and regulatory frameworks that the company operates in, focusing
on those laws and regulations that had a direct effect on the financial statements or that had a
fundamental effect on the operations of the company. The key laws and regulations we considered in this
context included UK Companies Act, employment law, health and safety, pensions legislation and tax
legislation.

The procedures to respond to risks identified included:
- reviewing the financial statement disclosures and testing to supporting documentation to assess
compliance with relevant laws and regulations discussed above;
- enquiring of management, concerning actual and potential litigation and claims;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate
risks of material misstatement due to fraud;
- reviewing correspondence with HMRC;
- testing the timing and matching of income and expense transactions relating to stock movements either
side of the year end; and
- in addressing the risk of fraud through management override of controls, testing the appropriateness of
journal entries and other adjustments; assessing whether the judgements made in making accounting
estimates are indicative of a potential bias; and evaluating the business rationale of any significant
transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulation that are not closely related to events and transactions reflected in the financial statements. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detection one resulting from an error, as fraud may involve deliberate concealment, by for example, forgery or intentional misrepresentation, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Other matters which we are required to address
The prior period financial statements were not audited.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PIONEER HOLDINGS GLOBAL LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Graham Travis FCA (Senior Statutory Auditor)
for and on behalf of Clarke Nicklin LLP
Chartered Accountants and
Statutory Auditors
Clarke Nicklin House
Brooks Drive
Cheadle Royal Business Park
Cheadle
Cheshire
SK8 3TD

29 August 2025

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   

TURNOVER 12,055,793 11,926,157

Cost of sales 6,953,631 6,593,863
GROSS PROFIT 5,102,162 5,332,294

Administrative expenses 4,089,724 3,772,541
1,012,438 1,559,753

Other operating income 6,810 1,029
OPERATING PROFIT 4 1,019,248 1,560,782

Interest receivable and similar income 71,655 -
1,090,903 1,560,782

Interest payable and similar expenses 5 1,387 726
PROFIT BEFORE TAXATION 1,089,516 1,560,056

Tax on profit 6 278,676 328,555
PROFIT FOR THE FINANCIAL YEAR 810,840 1,231,501
Profit attributable to:
Owners of the parent 535,662 956,428
Non-controlling interests 275,178 275,073
810,840 1,231,501

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 810,840 1,231,501


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

810,840

1,231,501

Total comprehensive income attributable to:
Owners of the parent 535,662 956,428
Non-controlling interests 275,178 275,073
810,840 1,231,501

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

CONSOLIDATED BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 282,133 275,442
Investments 11 - -
282,133 275,442

CURRENT ASSETS
Stocks 12 548,713 493,040
Debtors 13 5,377,752 3,659,949
Investments 14 - 1,441,116
Cash at bank 721,925 830,041
6,648,390 6,424,146
CREDITORS
Amounts falling due within one year 15 2,876,732 3,040,547
NET CURRENT ASSETS 3,771,658 3,383,599
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,053,791

3,659,041

CREDITORS
Amounts falling due after more than one
year

16

(21,504

)

(11,180

)

PROVISIONS FOR LIABILITIES 19 (66,117 ) (67,761 )
NET ASSETS 3,966,170 3,580,100

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

CONSOLIDATED BALANCE SHEET - continued
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 20 608 200
Retained earnings 21 3,965,552 3,579,890
SHAREHOLDERS' FUNDS 3,966,160 3,580,090

NON-CONTROLLING INTERESTS 22 10 10
TOTAL EQUITY 3,966,170 3,580,100


The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:





C Appleyard - Director


PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

COMPANY BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 - -
Investments 11 200 200
200 200

CURRENT ASSETS
Debtors 13 1,922,475 200
Investments 14 - 1,441,116
Cash at bank 12,757 40
1,935,232 1,441,356
CREDITORS
Amounts falling due within one year 15 1,332,412 895,361
NET CURRENT ASSETS 602,820 545,995
TOTAL ASSETS LESS CURRENT
LIABILITIES

603,020

546,195

CAPITAL AND RESERVES
Called up share capital 20 608 200
Retained earnings 602,412 545,995
SHAREHOLDERS' FUNDS 603,020 546,195

Company's profit for the financial year 206,417 157,700

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:





C Appleyard - Director


PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024

Called up
share Retained Non-controlling Total
capital earnings Total interests equity
£    £    £    £    £   
Balance at 1 September 2022 - 2,781,162 2,781,162 - 2,781,162

Changes in equity
Issue of share capital 200 - 200 - 200
Dividends - (157,700 ) (157,700 ) (275,073 ) (432,773 )
Total comprehensive income - 956,428 956,428 275,073 1,231,501
200 3,579,890 3,580,090 - 3,580,090
Acquisition of non-controlling
interest

-

-

-

10

10
Balance at 31 August 2023 200 3,579,890 3,580,090 10 3,580,100

Changes in equity
Issue of share capital 408 - 408 - 408
Dividends - (150,000 ) (150,000 ) (275,178 ) (425,178 )
Total comprehensive income - 535,662 535,662 275,178 810,840
Balance at 31 August 2024 608 3,965,552 3,966,160 10 3,966,170

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 September 2022 - 545,995 545,995

Changes in equity
Issue of share capital 200 - 200
Dividends - (157,700 ) (157,700 )
Total comprehensive income - 157,700 157,700
Balance at 31 August 2023 200 545,995 546,195

Changes in equity
Issue of share capital 408 - 408
Dividends - (150,000 ) (150,000 )
Total comprehensive income - 206,417 206,417
Balance at 31 August 2024 608 602,412 603,020

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,074,746 1,396,451
Interest element of hire purchase
payments paid

(1,387

)

(726

)
Tax paid (753,724 ) 202,071
Net cash from operating activities 319,635 1,597,796

Cash flows from investing activities
Purchase of tangible fixed assets (58,468 ) (46,702 )
Sale of unlisted investments 1,441,116 -
Interest received 71,655 -
Net cash from investing activities 1,454,303 (46,702 )

Cash flows from financing activities
Capital repayments in year (13,791 ) (9,680 )
Amount introduced by directors 1,200,323 163,700
Amount withdrawn by directors (2,643,816 ) (442,500 )
Share issue 408 200
Equity dividends paid (150,000 ) (157,700 )
Dividends paid to minority interests (275,178 ) (275,073 )
Net cash from financing activities (1,882,054 ) (721,053 )

(Decrease)/increase in cash and cash equivalents (108,116 ) 830,041
Cash and cash equivalents at
beginning of year

2

830,041

-

Cash and cash equivalents at end of
year

2

721,925

830,041

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 1,089,516 1,560,056
Depreciation charges 81,271 85,965
Finance costs 1,387 726
Finance income (71,655 ) -
1,100,519 1,646,747
Increase in stocks (55,673 ) (94,261 )
Decrease/(increase) in trade and other debtors 212,870 (312,160 )
(Decrease)/increase in trade and other creditors (182,970 ) 156,125
Cash generated from operations 1,074,746 1,396,451

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 August 2024
31.8.24 1.9.23
£    £   
Cash and cash equivalents 721,925 830,041
Year ended 31 August 2023
31.8.23 1.9.22
£    £   
Cash and cash equivalents 830,041 -


PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024


3. ANALYSIS OF CHANGES IN NET FUNDS

Other
non-cash
At 1.9.23 Cash flow changes At 31.8.24
£    £    £    £   
Net cash
Cash at bank 830,041 (108,116 ) 721,925
830,041 (108,116 ) 721,925

Liquid resources
Current asset
investments 1,441,116 (1,441,116 ) - -
1,441,116 (1,441,116 ) - -
Debt
Finance leases (20,115 ) 13,791 - (35,819 )
(20,115 ) 13,791 - (35,819 )
Total 2,251,042 (1,535,441 ) - 686,106

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Pioneer Holdings Global 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard Applicable in the UK and Republic of Ireland" ("FRS 102") and applicable legislation as set out in the Companies Act 2006 and Schedule 1 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008. These financial statements have been prepared under the historical costs convention.

The financial statements are presented in Sterling (£).

Going concern
The directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. The directors have reached this conclusion giving due consideration to the projected future performance of the group and any potential risk that might impact the group's ability to meet its required solvency levels. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Basis of consolidation
The consolidated profit and loss account and balance sheet include the financial statements of the company and its subsidiary undertakings. The results of subsidiaries acquired or sold during the period are included in the consolidated profit and loss account from, or up to, the date control passes. Intra-group transactions are eliminated fully on consolidation.

On acquisition of a subsidiary, the subsidiary's assets and liabilities that exist at the date of acquisition are recorded at their fair values reflecting their condition at that date. All changes to those assets and liabilities, and the resulting gains and losses that arise after the group has gained control of the subsidiary are charged to the post acquisition profit and loss account.

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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

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


2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if revision only affects that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The following judgements and estimates have had the most significant effect on amounts recognised in the financial statements;
Depreciation - The useful life of fixed assets can vary significantly. Estimates are based on historic experience and current expectations of useful life. The size of prior year gains and losses on disposal are also factored in to estimates.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 Consolidated Income Statement, 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.


PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Financial assets
Basic financial assets, including trade debtors, cash and bank balances and amounts owed by group undertakings, 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 income statement.

If there is a decrease in the the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the income statement.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

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


2. ACCOUNTING POLICIES - continued

Financial liabilities
Basic financial liabilities, including trade creditors and amounts owed to group undertakings, 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 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 69 (2023 - 66)

2024 2023
£    £   
Directors' remuneration 16,848 16,848
Directors' pension contributions to money purchase schemes 150,000 70,000

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 69,522 78,146
Depreciation - assets on hire purchase contracts 11,750 5,897
Computer software amortisation - 1,920
Auditors' remuneration 22,800 -

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Hire purchase 1,387 726

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

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


6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 280,320 347,485
Prior year adjustment - (15,454 )
Total current tax 280,320 332,031

Deferred tax (1,644 ) (3,476 )
Tax on profit 278,676 328,555

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,089,516 1,560,056
Profit multiplied by the standard rate of corporation tax in the UK of 25
% (2023 - 21.515 %)

272,379

335,646

Effects of:
Expenses not deductible for tax purposes 6,297 11,613
Capital allowances in excess of depreciation - (3,250 )
Adjustments to tax charge in respect of previous periods - (15,454 )
Total tax charge 278,676 328,555

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 150,000 157,700

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

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


9. INTANGIBLE FIXED ASSETS

Group
Computer
software
£   
COST
At 1 September 2023
and 31 August 2024 28,977
AMORTISATION
At 1 September 2023
and 31 August 2024 28,977
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

10. TANGIBLE FIXED ASSETS

Group
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 55,709 116,741 471,452 73,252 717,154
Additions - 679 61,995 25,289 87,963
At 31 August 2024 55,709 117,420 533,447 98,541 805,117
DEPRECIATION
At 1 September 2023 47,955 70,446 281,052 42,259 441,712
Charge for year 1,939 11,684 56,448 11,201 81,272
At 31 August 2024 49,894 82,130 337,500 53,460 522,984
NET BOOK VALUE
At 31 August 2024 5,815 35,290 195,947 45,081 282,133
At 31 August 2023 7,754 46,295 190,400 30,993 275,442

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

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


10. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023 29,795
Additions 29,495
At 31 August 2024 59,290
DEPRECIATION
At 1 September 2023 5,897
Charge for year 11,750
At 31 August 2024 17,647
NET BOOK VALUE
At 31 August 2024 41,643
At 31 August 2023 23,898

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertaking
£   
COST
At 1 September 2023
and 31 August 2024 200
NET BOOK VALUE
At 31 August 2024 200
At 31 August 2023 200

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

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


11. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Pioneer Digital Solutions Limited
Registered office: Clarke Nicklin House, Brooks Drive, Cheadle Royal Business Park, Cheadle, Cheshire, SK8 3TD
Nature of business: Service and maintenance
%
Class of shares: holding
Ordinary 95.00

Pioneer Holdings UK Limited
Registered office: Clarke Nicklin House, Brooks Drive, Cheadle Royal Business Park, Cheadle, Cheshire, SK8 3TD
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00


12. STOCKS

Group
2024 2023
£    £   
Raw materials 347,652 289,570
Work-in-progress 201,061 203,470
548,713 493,040

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 2,299,760 2,375,692 - -
Amounts owed by group undertakings - - 250,000 -
Other debtors 13,344 16,811 608 200
Directors' current accounts 2,276,316 832,822 1,249,994 -
Tax 764,881 277,702 421,873 -
Prepayments and accrued income 23,451 156,922 - -
5,377,752 3,659,949 1,922,475 200

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

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


14. CURRENT ASSET INVESTMENTS

Group Company
2024 2023 2024 2023
£    £    £    £   
Unlisted investments - 1,441,116 - 1,441,116

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Hire purchase contracts (see note 17) 14,315 8,935 - -
Trade creditors 1,769,074 1,356,680 - -
Amounts owed to group undertakings - - 895,100 895,160
Corporation tax 825,579 811,804 437,112 1
Social security and other taxes 50,640 48,777 - -
VAT 148,534 320,607 - -
Other creditors 14,735 9,912 200 200
Company credit card 14,255 14,505 - -
Accruals and deferred income 39,600 469,327 - -
2,876,732 3,040,547 1,332,412 895,361

Pension contributions unpaid at the year end were £9,721 (2023: £9,066).

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2024 2023
£    £   
Hire purchase contracts (see note 17) 21,504 11,180

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase
contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 14,315 8,935
Between one and five years 21,504 11,180
35,819 20,115

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

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


18. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
£    £   
Hire purchase contracts 35,819 20,115

Hire purchase liabilities are secured on the underlying assets.

19. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 66,117 67,761

Group
Deferred
tax
£   
Balance at 1 September 2023 67,761
Credit to Income Statement during year (1,644 )
Balance at 31 August 2024 66,117

20. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
546 Ordinary £1 546 180
62 B Ordinary £1 62 20
608 200

PIONEER HOLDINGS GLOBAL LIMITED (REGISTERED NUMBER: 10301341)

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


21. RESERVES

Group
Retained
earnings
£   

At 1 September 2023 3,579,890
Profit for the year 535,662
Dividends (150,000 )
At 31 August 2024 3,965,552


22. NON-CONTROLLING INTERESTS

Non-controlling interests represent the portion of equity including reserves and total comprehensive income in subsidiaries not attributable, directly or indirectly, to the parent company.

23. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
C Appleyard
Balance outstanding at start of year 489,212 322,262
Amounts advanced 2,106,706 253,750
Amounts repaid (1,296,822 ) (86,800 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,299,096 489,212

P Childerhouse
Balance outstanding at start of year 343,610 231,760
Amounts advanced 710,110 188,750
Amounts repaid (76,500 ) (76,900 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 977,220 343,610

Advances to directors include cash payments and personal expenses paid by the group.

Amounts repaid consist of expenses and salaries not taken as cash, as well as cash amounts repaid by the directors.

Directors' loans are interest free and repayable on demand.