PEC INTERNATIONAL LIMITED


Directors	TRAJKOVSKA, Slavica
	WAITE, Kiril


Company Secretary	TRAJKOVSKA, Slavica


Registered Address	1 Gemini Court
	42a Throwley Way
	Sutton
	SM1 4AF


Registered Number	02779729 (England and Wales)

Statement of Financial Position
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	4		103,708		108,430
			103,708		108,430
Current assets
Debtors	5	87,921		43,160
Cash at bank and on hand		118,568		124,562
		206,489		167,722
Creditors amounts falling due within one year	6	(390,774)		(373,057)
Net current assets (liabilities)			(184,285)		(205,335)
Total assets less current liabilities			(80,577)		(96,905)
Creditors amounts falling due after one year	7		(870)		(497)
Net assets			(81,447)		(97,402)
Capital and reserves
Called up share capital			1,000		1,000
Profit and loss account			(82,447)		(98,402)
Shareholders' funds			(81,447)		(97,402)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 17 April 2025, and are signed on its behalf by:

TRAJKOVSKA, Slavica
Director
Registered Company No. 02779729

PEC INTERNATIONAL LIMITED

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

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	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).

	Going concern
	In view of the company's insolvent balance sheet, the directors have agreed not to withdraw their loan accounts owed to them until such time as the company returns to a solvent position.

	Turnover policy
	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.

	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.

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.

	Deferred tax
	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.

Deferred tax

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.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	50
Fixtures and fittings	25	-
Office Equipment	25	-

2.	Average number of employees


		2024		2023
	Average number of employees during the year	2		2

3.	Deferred tax
	Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.

4.	Tangible fixed assets

	Land & buildings	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 January 24	203,454	194,763	21,417	419,634
At 31 December 24	203,454	194,763	21,417	419,634
Depreciation and impairment
At 01 January 24	97,639	193,942	19,623	311,204
Charge for year	4,068	205	449	4,722
At 31 December 24	101,707	194,147	20,072	315,926
Net book value
At 31 December 24	101,747	616	1,345	103,708
At 31 December 23	105,815	821	1,794	108,430

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Other debtors	87,921	43,160
Total	87,921	43,160

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	982	1,957
Other creditors	387,141	368,605
Accrued liabilities and deferred income	2,651	2,495
Total	390,774	373,057

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	870	497
Total	870	497

8.	Provisions for liabilities