REGISTERED NUMBER: 04908229 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PERMABOND ENGINEERING ADHESIVES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr Paolo Grossi

Mr Andrea Grossi

SECRETARY:

Mrs Lana Knight

REGISTERED OFFICE:

Fleming Court

Leigh Road

Eastleigh

Southampton

Hampshire

SO50 9PD

BUSINESS ADDRESS:

Wessex Business Park

Wessex Way

Colden Common

Winchester

Hampshire

SO21 1WP

REGISTERED NUMBER:

04908229 (England and Wales)

SENIOR STATUTORY AUDITOR:

Graham Taylor

AUDITORS:

Langdowns DFK Limited

Statutory Auditor

Fleming Court

Leigh Road

Eastleigh

Southampton

Hampshire

SO50 9PD

FIXED ASSETS

Intangible assets

5

114,727

-

Tangible assets

6

1,115,899

1,194,260

Investments

7

83,181

83,181

1,313,807

1,277,441

CURRENT ASSETS

Stocks

374,921

362,474

Debtors

8

811,709

854,653

Cash at bank

6,379,735

5,328,675

7,566,365

6,545,802

CREDITORS

Amounts falling due within one year

9

606,282

523,468

NET CURRENT ASSETS

6,960,083

6,022,334

TOTAL ASSETS LESS CURRENT LIABILITIES

8,273,890

7,299,775

PROVISIONS FOR LIABILITIES

49,213

54,805

NET ASSETS

8,224,677

7,244,970

CAPITAL AND RESERVES

Called up share capital

10

5,000

5,000

Retained earnings

8,219,677

7,239,970

SHAREHOLDERS' FUNDS

8,224,677

7,244,970

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 12 September 2025 and were signed on its behalf by:

Mr Paolo Grossi - Director

1.	STATUTORY INFORMATION

Permabond Engineering Adhesives 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Freehold land and property

-

4% straight line and Land - no depreciation provided

Plant and machinery

-

25% straight line

Fixtures and fittings

-

10 - 25% on reducing balance

Equipment

-

25% straight line

All fixed assets are initially recorded at cost.

Investments in associates

Investments in associate undertakings are recognised at cost.

Stocks

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

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.

Pension costs and other post-retirement benefits

The company contributes to defined contribution pension schemes. Contributions payable to the pension schemes are charged to the profit and loss account in the period to which they relate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in administrative expenses.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 28 ) .

5.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

Additions

127,474

At 31 December 2024

127,474

AMORTISATION

Amortisation for year

12,747

At 31 December 2024

12,747

NET BOOK VALUE

At 31 December 2024

114,727

6.	TANGIBLE FIXED ASSETS

Freehold

Fixtures

land and

Plant and

and

property

machinery

fittings

Equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

1,696,775

583,653

335,702

202,980

2,819,110

Additions

-

-

5,390

9,941

15,331

Disposals

-

-

(1,232

)

-

(1,232

)

At 31 December 2024

1,696,775

583,653

339,860

212,921

2,833,209

DEPRECIATION

At 1 January 2024

631,710

544,723

252,779

195,638

1,624,850

Charge for year

49,565

22,655

16,587

4,854

93,661

Eliminated on disposal

-

-

(1,201

)

-

(1,201

)

At 31 December 2024

681,275

567,378

268,165

200,492

1,717,310

NET BOOK VALUE

At 31 December 2024

1,015,500

16,275

71,695

12,429

1,115,899

At 31 December 2023

1,065,065

38,930

82,923

7,342

1,194,260

7.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 January 2024

and 31 December 2024

83,181

NET BOOK VALUE

At 31 December 2024

83,181

At 31 December 2023

83,181

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

413,463

411,565

Amounts owed by group undertakings

122,154

138,376

Amounts owed by participating interests

69,474

10,608

Other debtors

206,618

294,104

811,709

854,653

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

139,825

47,224

Amounts owed to group undertakings

124,433

120,796

Taxation and social security

162,224

181,893

Other creditors

179,800

173,555

606,282

523,468

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

5,000

Ordinary

£1

5,000

5,000

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

The Report of the Auditors was unqualified.

Graham Taylor (Senior Statutory Auditor)

for and on behalf of Langdowns DFK Limited

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies where any subsidiary that is a party to the transaction is wholly owned within the group or where transactions have been undertaken under normal market conditions.

13.	POST BALANCE SHEET EVENTS

Subsequent to the year end, Permabond Engineering Adhesives Limited acquired freehold land and property to the value of £2,652,000 including VAT. The freehold land and property is a tangible fixed asset of the company.