PEM Supplies Limited - Filleted accounts

Registered number

10533313

PEM Supplies Limited

Accounts for the year ended

31 March 2025

PEM Supplies Limited
Registered number:		10533313
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		-			2,702
Tangible assets	4		3,185,945			3,134,829
Investments	5		3,532			3,530
			3,189,477			3,141,061

Current assets
Debtors	6	191,172			98,563
Cash at bank and in hand		62,998			9,354
		254,170			107,917

Creditors: amounts falling due within one year	7	(227,330)			(469,005)

Net current assets/(liabilities)			26,840			(361,088)

Total assets less current liabilities			3,216,317			2,779,973

Creditors: amounts falling due after more than one year	8		(1,673,247)			(1,330,861)

Provisions for liabilities			(53,932)			(59,561)


Net assets			1,489,138			1,389,551

Capital and reserves
Called up share capital			26			26
Revaluation reserve	10		276,040			276,040
Profit and loss account			1,213,072			1,113,485

Shareholders' funds			1,489,138			1,389,551

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.



W Quinn
Director
Approved by the board on 7 July 2025

PEM Supplies Limited
Notes to the Accounts
for the year ended 31 March 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:

	Motor vehicles			25% reducing balance
	Cars			5% reducing balance
	Plant and machinery			20% reducing balance

	Investment property

	Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in nature, location or condition of the specific asset. Changes in fair value are recognised in the non distributable reserve.

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	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.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	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.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					3		3


3	Intangible fixed assets							£
	Initial purchase of new lease

	Cost
	At 1 April 2024							4,504
	Disposals							(4,504)
	At 31 March 2025							-

	Amortisation
	At 1 April 2024							1,802
	Provided during the year							2,702
	On disposals							(4,504)
	At 31 March 2025							-

	Net book value
	At 31 March 2025							-
	At 31 March 2024							2,702

	Costs of the initial purchase of a new lease are being written off in equal annual instalments over the length of the lease of 5 years.


4	Tangible fixed assets
		Investment property		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	2,856,839		9,173		292,663		3,158,675
	Additions	373,050		7,702		129,880		510,632
	Disposals	(270,025)		-		(189,950)		(459,975)
	At 31 March 2025	2,959,864		16,875		232,593		3,209,332

	Depreciation
	At 1 April 2024	-		2,225		21,621		23,846
	Charge for the year	-		1,390		16,671		18,061
	On disposals	-		-		(18,520)		(18,520)
	At 31 March 2025	-		3,615		19,772		23,387

	Net book value
	At 31 March 2025	2,959,864		13,260		212,821		3,185,945
	At 31 March 2024	2,856,839		6,948		271,042		3,134,829


	Investment Property					2025		2024
£							£
	Historical cost					2,683,677		2,580,799
	Cumulative depreciation based on historical cost					-		-
						2,683,677		2,580,799
	The company's portfolio of properties has been valued by the directors based on their estimation of the open market prices of each property at the balance sheet date. There has been no valuation of investment property by an independent valuer.


5	Investments
Investments in
subsidiary
undertakings
£
	Cost
	At 1 April 2024							3,530
	Additions							4
	Disposals							(2)

	At 31 March 2025							3,532


6	Debtors					2025		2024
£							£

	Trade debtors					-		20,077
	Other debtors					191,172		78,486
						191,172		98,563


7	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					10,000		10,000
	Obligations under finance lease and hire purchase contracts					7,426		28,606
	Trade creditors					10,750		87,225
	Taxation and social security costs					12,756		4,654
	Other creditors					186,398		338,520
						227,330		469,005


8	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					1,510,714		1,161,029
	Obligations under finance lease and hire purchase contracts					162,533		169,832
						1,673,247		1,330,861


9	Loans					2025		2024
£							£
	Creditors include:
	Amounts payable otherwise than by instalment falling due for payment after more than five years					1,507,919		1,148,840


	Secured bank loans					1,507,919		1,148,840

	The bank loans of £1,507,919 are secured by fixed charges over the company land and buildings. The bank loans contiain negative pledges.


10	Non distributable reserve					2025		2024
£							£

	At 1 April 2024					276,040		276,040

	At 31 March 2025					276,040		276,040


11	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	W Quinn
	Loan is unsecured, interest free
	and repayable on demand.	-		80,000		-		80,000

	K A Quinn
	Loan is unsecured, interest free
	and repayable on demand.	-		80,000		-		80,000

		-		160,000		-		160,000


12	Controlling party

	The directors of the company control the company by virtue of a controlling interest of 100% of the issued ordinary share capital.


13	Other information

	PEM Supplies Limited is a private company limited by shares and incorporated in England. Its registered office is:
	13b Market Place
	Caistor
	Lincolnshire
	LN7 6TP