REGISTERED NUMBER: 04289312 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

PFM Intelligence UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr B P J Schmitz

Mr P J Cox

REGISTERED OFFICE:

Unit 1 Moons Park

Burnt Meadow Road

Moons Moat Industrial Estate

Redditch

Worcestershire

B98 9PA

REGISTERED NUMBER:

04289312 (England and Wales)

AUDITORS:

Clifford Roberts - Statutory Auditor

63 Broad Green

Wellingborough

Northamptonshire

NN8 4LQ

FIXED ASSETS

Tangible assets

4

160,218

320,904

CURRENT ASSETS

Stocks

632,131

271,265

Debtors

5

1,903,011

1,341,346

Cash at bank and in hand

166,041

49,755

2,701,183

1,662,366

CREDITORS

Amounts falling due within one year

6

2,283,949

817,838

NET CURRENT ASSETS

417,234

844,528

TOTAL ASSETS LESS CURRENT LIABILITIES

577,452

1,165,432

PROVISIONS FOR LIABILITIES

30,650

18,507

NET ASSETS

546,802

1,146,925

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

546,702

1,146,825

SHAREHOLDERS' FUNDS

546,802

1,146,925

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 July 2025 and were signed on its behalf by:

Mr B P J Schmitz - Director

1.	STATUTORY INFORMATION

PFM Intelligence UK 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 Company Information page.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are for an individual entity, they are presented in Sterling (£) and cover the period to 31st December each year. In the prior year, the length of the reporting period was extended to 31st December 2023, bringing the companies year end in line with the rest of the group. As such, the comparatives are not entirely comparable.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

(a) Recognition of revenue and cost on long-term contracts

Revenue and cost from long-term construction contracts are recognised in accordance with the stage of completion of the contract activity at the reporting date.

Contract revenue includes the initial amount agreed in the contract and variations in contract work, claims, and incentive payments to the extent that it is probable they will result in revenue and can be measured reliably. When the outcome of a construction contract cannot be estimated reliably, revenue is recognised only to the extent that it is considered probable that costs incurred will be recovered.

Costs associated with construction contracts are recognised in profit or loss as incurred, except where they relate to future contract activity. In such cases, costs are deferred as contract assets.

Where the cumulative revenue recognised exceeds amounts invoiced, the difference is recognised as a contract asset. Where invoicing exceeds revenue recognised, the difference is recognised as a contract liability.

Expected losses on contracts are recognised as an expense immediately.

Revenue

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax. 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 has transferred to the buyer. This is usually at the point that the customer has signed for delivery of the goods or the product has been installed at their premises. For larger contracts the revenue is recognised on a stage of completion basis, adjusting the revenue accordingly.

Turnover from the rendering of services is recognised on a straight-line basis over the contract period unless there is evidence that some other method better represents the stage of completion.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33.3% on cost and 16% on cost

Fixtures and fittings

-

33.3% on cost

Lease Equipment

-

Over the period of the relating lease

Freehold land and buildings are not depreciated. The directors regularly repair and maintain the buildings, they consider depreciation to be immaterial.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans and balances to and from related parties.

Debt instruments (other than those wholly repayable or receivable in one year), including loans and other accounts receivable and payable, are initially measured at the present value of future cash flows and subsequently at amortised cost using the effective interest rate method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in the income statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Leased assets

The company constructs assets which are leased to customers. These assets are capitalised at the production cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Lease

leasehold

machinery

fittings

Equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

201,000

15,705

44,119

731,488

992,312

Additions

-

52,629

11,651

50,326

114,606

Disposals

(201,000

)

(15,705

)

-

(32,374

)

(249,079

)

At 31 December 2024

-

52,629

55,770

749,440

857,839

DEPRECIATION

At 1 January 2024

-

15,646

37,020

618,742

671,408

Charge for year

-

9,706

9,536

55,050

74,292

Eliminated on disposal

-

(15,705

)

-

(32,374

)

(48,079

)

At 31 December 2024

-

9,647

46,556

641,418

697,621

NET BOOK VALUE

At 31 December 2024

-

42,982

9,214

108,022

160,218

At 31 December 2023

201,000

59

7,099

112,746

320,904

5.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

1,075,966

707,299

Amounts owed by group undertakings

230,873

606,441

Other debtors

224,903

2,001

Prepayments and accrued income

139,326

25,605

1,671,068

1,341,346

Amounts falling due after more than one year:

Other debtors

231,943

-

Aggregate amounts

1,903,011

1,341,346

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

566,098

107,246

Amounts owed to group undertakings

91,501

-

Social security and other taxes

68,978

29,470

VAT

191,759

81,169

Other creditors

351,690

21,602

Accruals and deferred income

1,013,923

578,351

2,283,949

817,838

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

146,779

49,837

Between one and five years

260,051

74,384

406,830

124,221

8.	FINANCIAL INSTRUMENTS

The company has significant exposure to foreign currency, credit, liquidity and market risks, these are limited by the company's financial management policies and practices described below:

Foreign currency risk

The company has exposure to foreign currency risks as some of the company's sales and purchases are denominated in Euros. The company utilises the group operated Euro current accounts to help mitigate the risks arising from exchange rates.

Credit risk

The company's exposure and it's customers credit worthiness is continually monitored so that any potential problems are detected at an early stage.

Liquidity risk

The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves and banking facilities.

Market risk

There is a market risk associated with the fluctuation in demand for the products and services provided. Most of this is mitigated by monitoring the markets.

The company holds no derivative financial instruments at the year end.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 January 2024

1,146,825

Deficit for the year

(600,123

)

At 31 December 2024

546,702

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Julian Payne BA FCA (Senior Statutory Auditor)

for and on behalf of Clifford Roberts - Statutory Auditor

12.	OTHER FINANCIAL COMMITMENTS

DunPort Capital Management DAC holds fixed and floating charges over all the property and undertaking of the company, containing a negative pledge.

13.	RELATED PARTY DISCLOSURES

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.

All related party transactions are considered to be conducted at arm's length and in the ordinary course of business.

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Lexar Partners Fund I Coorporatief U.a