REGISTERED NUMBER: 13885781 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Plim Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A R M J Al-Lawati

Ms N A R M J Al Lawati

SECRETARY:

Keystone Law Limited

REGISTERED OFFICE:

1st Floor 48 Chancery Lane

London

WC2A 1JF

REGISTERED NUMBER:

13885781 (England and Wales)

ACCOUNTANTS:

Hawksford UK Services Limited

123 Pall Mall

St. James's

London

SW1Y 5EA

FIXED ASSETS

Intangible assets

4

513,187

597,426

Tangible assets

5

2,627

2,544

515,814

599,970

CURRENT ASSETS

Debtors

6

313,493

285,698

Cash at bank

31,887

135,624

345,380

421,322

CREDITORS

Amounts falling due within one year

7

(608,902

)

(232,480

)

NET CURRENT (LIABILITIES)/ASSETS

(263,522

)

188,842

TOTAL ASSETS LESS CURRENT LIABILITIES

252,292

788,812

CREDITORS

Amounts falling due after more than one year

8

(1,575,772

)

(1,911,310

)

NET LIABILITIES

(1,323,480

)

(1,122,498

)

CAPITAL AND RESERVES

Called up share capital

983

1

Share premium

784,878

-

Retained earnings

(2,109,341

)

(1,122,499

)

(1,323,480

)

(1,122,498

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 26 August 2025 and were signed on its behalf by:

Ms N A R M J Al Lawati - Director

1.	STATUTORY INFORMATION

Plim 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.

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 accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of 8 years.

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 etc

-

25% on cost

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

682,773

Additions

1,266

At 31 December 2024

684,039

AMORTISATION

At 1 January 2024

85,347

Charge for year

85,505

At 31 December 2024

170,852

NET BOOK VALUE

At 31 December 2024

513,187

At 31 December 2023

597,426

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

3,392

Additions

1,064

At 31 December 2024

4,456

DEPRECIATION

At 1 January 2024

848

Charge for year

981

At 31 December 2024

1,829

NET BOOK VALUE

At 31 December 2024

2,627

At 31 December 2023

2,544

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

272,743

222,280

Amount owed by related parties

13,950

34,928

Other debtors

26,800

28,490

313,493

285,698

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

575,597

220,478

Taxation and social security

(20

)

-

Other creditors

33,325

12,002

608,902

232,480

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

1,575,772

1,911,310

9.	RELATED PARTY DISCLOSURES

At the year end the company had the following related party balances:

£510 owed from Ali Redha Al-Lawati who is a person with significant control of Plim Ltd.

£3,209 due to Nada Ali Redha Mohammed Jawad Al Lawati.

The professional fees include £3,000 paid to Nada for advisory services.

£13,440 due from Plim Portal AG, a company under common control.

£750,473.75 owed to Plim Portal AG, given to Plim as line of credit with 1.5% interest applicable.

£21,643 owed to Yashar Memarian who is a person with significant control of Plim Ltd.

£803,655 owed to Geodesik, given to Plim as line of credit with 7% interest applicable.

The trade creditors balance includes £395,399 owed to Geodesik relating to development work and provision of hosting and maintenance.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are A R M J Al-Lawati and Y Memarian.