REGISTERED NUMBER: 00980466 (England and Wales)

PERMAT MACHINES LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B F Nagel

J Schall

REGISTERED OFFICE:

Station Road

Coleshill

Birmingham

B46 1JG

REGISTERED NUMBER:

00980466 (England and Wales)

AUDITORS:

Fruition Advisory LLP

29 Wood Street

Stratford-upon-Avon

CV37 6JG

FIXED ASSETS

Tangible assets

4

364,053

305,867

Investment property

5

2,703,300

2,703,300

3,067,353

3,009,167

CURRENT ASSETS

Stocks

6

24,092

81,776

Debtors

7

115,271

79,118

Cash at bank and in hand

889,790

927,081

1,029,153

1,087,975

CREDITORS

Amounts falling due within one year

8

138,027

225,334

NET CURRENT ASSETS

891,126

862,641

TOTAL ASSETS LESS CURRENT LIABILITIES

3,958,479

3,871,808

PROVISIONS FOR LIABILITIES

(564,089

)

(564,521

)

PENSION ASSET

-

616,500

NET ASSETS

3,394,390

3,923,787

CAPITAL AND RESERVES

Called up share capital

9

7,400

7,400

Revaluation reserve

980,008

980,008

Other reserves

2,600

1,339,100

Retained earnings

2,404,382

1,597,279

SHAREHOLDERS' FUNDS

3,394,390

3,923,787

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 2 June 2025 and were signed on its behalf by:

B F Nagel - Director

J Schall - Director

1.	STATUTORY INFORMATION

Permat Machines 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.

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.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

Tangible fixed assets

Tangible assets are stated in the balance sheet at valuation, where they were acquired prior to the latest

professional valuation, with changes in fair value being recognised in the Statement of comprehensive income.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:.

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Land and Building

not depreciated

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 the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Taxation

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Foreign currencies

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Defined benefit pension obligation

The net defined benefit pension asset or liability in the balance sheet comprises the total for each plan of the present value of the defined benefit obligation (using a discount rate based on high quality corporate bonds), less the fair value of plan assets out of which the obligations are to be settled directly. Fair value is based on market price information, and in the case of quoted securities is the published bid price. The value of a net pension benefit asset is limited to the amount that may be recovered either through reduced contributions or agreed refunds from the scheme.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Going concern

The financial statements have been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

£

£

COST

At 1 January 2024

296,700

1,358,610

1,655,310

Additions

60,478

-

60,478

At 31 December 2024

357,178

1,358,610

1,715,788

DEPRECIATION

At 1 January 2024

-

1,349,443

1,349,443

Charge for year

-

2,292

2,292

At 31 December 2024

-

1,351,735

1,351,735

NET BOOK VALUE

At 31 December 2024

357,178

6,875

364,053

At 31 December 2023

296,700

9,167

305,867

Included within the net book value of freehold property above is £357,178 ( 2023 - 296,700) in respect of freehold land and buildings.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

2,703,300

NET BOOK VALUE

At 31 December 2024

2,703,300

At 31 December 2023

2,703,300

The investment property was valued at 31 December 2019 by an independent valuer, Savills (UK) Limited. The directors believe this reflects the current market value.

6.

STOCKS

2024

2023

£

£

Raw materials

24,092

14,756

Work-in-progress

-

67,020

24,092

81,776

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

87,625

31,061

Amounts owed by group undertakings

4,039

3,170

Tax

-

26,273

VAT

-

2,911

Prepayments

23,607

15,703

115,271

79,118

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

8,162

18,434

Amounts owed to group undertakings

7,418

1,200

Tax

13,062

-

Social security and other taxes

6,604

5,562

VAT

5,039

-

Other creditors

117

4

Accruals and deferred income

97,625

200,134

138,027

225,334

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

7,400

Ordinary

1

7,400

7,400

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

The Report of the Auditors was unqualified.

Michelle Vincent (Senior Statutory Auditor)

for and on behalf of Fruition Advisory LLP

11.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme for its employees. At the year end the outstanding commitment relating to this scheme was £nil (2023: £nil).

The company used to operate a defined benefit pension scheme which is closed to new members. The most recent actuarial valuation of the plan assets and the present value of the defined benefit obligation was carried out as at 31 December 2024 by Peter Cormack, of XPS Pensions (RL) Limited, Fellow of the Institute of Actuaries. The net defined benefit pension asset of £695,250 (2023 - £616,500) was not recognised at the year end on account of the 'Effect of asset ceiling' since the scheme is closed to future benefit accrual, and that the employer does not have an unconditional right to any surplus.

12.	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.

13.	ULTIMATE CONTROLLING PARTY

The company's immediate parent is Nagel-Gruppe Verwaltungs GmbH, incorporated in Germany.

The ultimate parent is Nagel Holding GmbH & Co.KG, incorporated in Germany.

These financial statements are available upon request from Corporate Headquarters, Oberboihinger Str. 60, D-72622 Nuertingen