REGISTERED NUMBER: 13697712 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PE SCIENCE UK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr J Poole

REGISTERED OFFICE:

Sandhurst House

297 Yorktown Road

Sandhurst

Berkshire

GU47 0QA

REGISTERED NUMBER:

13697712 (England and Wales)

AUDITORS:

Kings CAP Ltd

Statutory Auditor

4 Grovelands

Boundary Way

Hemel Hempstead

Hertfordshire

HP2 7TE

CURRENT ASSETS

Stocks

22,598

6,381

Debtors

4

2,019

74

Cash at bank

34,509

12,844

59,126

19,299

CREDITORS

Amounts falling due within one year

5

80,714

31,834

NET CURRENT LIABILITIES

(21,588

)

(12,535

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(21,588

)

(12,535

)

CAPITAL AND RESERVES

Called up share capital

6

1

1

Retained earnings

(21,589

)

(12,536

)

SHAREHOLDERS' FUNDS

(21,588

)

(12,535

)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 September 2025 and were signed by:

Mr J Poole - Director

1.	STATUTORY INFORMATION

PE Science UK Ltd 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.

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

These financial statements have been prepared by the directors on an alternative basis on the assumption that the company will not continue in business beyond 2025. On the alternative basis, adjustments have been made to reduce the value of assets to their recoverable amount. Further, assets and liabilities are not distinguished between current and non-current on the statement of financial position. The directors consider that additional write downs are not necessary. The parent undertaking has confirmed that the entity has not met targeted average monthly sales at the end of each financial year and that the costs of importing the products continue to grow eliminating any margin. Accordingly, the director's and parent undertaking intend to cease operations late 2025.

Turnover

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

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 has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

2,019

74

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

8,072

664

Amounts owed to group undertakings

66,885

26,605

Taxation and social security

1,347

154

Other creditors

4,410

4,411

80,714

31,834

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1

Ordinary

£1

1

1

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

The Report of the Auditors was unqualified.

We draw attention to Note 2 to the financial statements which explains that the directors intend to cease operations in the UK and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter.

Sara Brown (Senior Statutory Auditor)

for and on behalf of Kings CAP Ltd

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is PE Select Inc.

The parent company is PE Select Inc, 9E Loockerman Street, Suite 311, Dover 19901, Kent, State of Delaware, USA. The company is registered in the USA.