REGISTERED NUMBER: 00630103 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

P.M.D. (UK) LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr B J Fisher

Mr G B Noonan

Mr M Callender

Mr D C Warburton

REGISTERED OFFICE:

Broad Lane

Tile Hill

Coventry

West Midlands

CV5 7AY

REGISTERED NUMBER:

00630103 (England and Wales)

AUDITORS:

HB&O Ltd

Chartered Accountants and Statutory Auditors

Seven Stars House

1 Wheler Road

Coventry

CV3 4LB

BANKERS:

National Westminster Bank Plc

PO Box 301

24 Broadgate

Coventry

CV1 1ZZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

304,736

366,226

304,736

366,226

CURRENT ASSETS

Stocks

620,680

497,027

Debtors

1,551,961

1,433,822

Cash at bank and in hand

1,013,260

983,529

3,185,901

2,914,378

CREDITORS

Amounts falling due within one year

1,017,186

855,902

NET CURRENT ASSETS

2,168,715

2,058,476

TOTAL ASSETS LESS CURRENT LIABILITIES

2,473,451

2,424,702

PROVISIONS FOR LIABILITIES

8

80,373

91,556

NET ASSETS

2,393,078

2,333,146

CAPITAL AND RESERVES

Called up share capital

9

100,000

100,000

Retained earnings

10

2,293,078

2,233,146

SHAREHOLDERS' FUNDS

2,393,078

2,333,146

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 29 September 2025 and were signed on its behalf by:

Mr B J Fisher - Director

1.	STATUTORY INFORMATION

P.M.D. (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 accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Turnover

Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance and Straight line over 5 years

Motor vehicles

-

33% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value. Cost of finished goods and work in progress includes overheads appropriate to the stage of manufacture. Net realisable value is based upon estimated selling price less further costs expected to be incurred to completion and disposal. Provision is made for obsolete and slow-moving items.

Financial instruments

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised costs using effective interest rate method, less impairment. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any loses arising from impairment are 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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

Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable during the lease term. The corresponding leasing commitments are shown as obligations to the lessor.

Lease payments are treated as consisting of capital and interest elements, and the interest is charged to the profit and loss account in proportion to the the remaining balance outstanding.

All other leases are operating leases and the annual rentals are charged to the profit and loss on a straight line basis over the lease term.

Pension costs and other post-retirement benefits

The company operates a defined contribution scheme. The amount charged to the profit and loss account in respect of pension costs and other post retirement benefits is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

Purchased goodwill and trademarks

Goodwill representing the excess of the purchase price compared with the fair value of the net assets acquired is capitalised and written off evenly over the period over which the goodwill is effective.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2023 - 45 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

and 31 December 2024

273,023

AMORTISATION

At 1 January 2024

and 31 December 2024

273,023

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

1,422,509

Additions

28,261

Disposals

(30,136

)

Reclassification/transfer

(16,760

)

At 31 December 2024

1,403,874

DEPRECIATION

At 1 January 2024

1,056,283

Charge for year

63,929

Eliminated on disposal

(21,074

)

At 31 December 2024

1,099,138

NET BOOK VALUE

At 31 December 2024

304,736

At 31 December 2023

366,226

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 January 2024

30,136

Disposals

(30,136

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

16,610

Charge for year

4,464

Eliminated on disposal

(21,074

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

13,526

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

-

7,441

Non-cancellable

operating leases

2024

2023

£

£

Within one year

76,320

76,320

7.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

-

7,441

Other creditors

644,639

557,524

644,639

564,965

The company has guaranteed the overdrafts of its parent undertaking and fellow subsidiary undertakings. At 31 December 2024 the total overdrafts in the group amounted to £1,118,070 (2023 - £1,193,334).

In addition the company has guaranteed the bank loan of its parent undertaking. At 31 December 2024 the loan amounted to £215,707 (2023 - £257,244).

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Accelerated capital allowances

80,373

91,556

Deferred

tax

£

Balance at 1 January 2024

91,556

Provided during year

(11,183

)

Balance at 31 December 2024

80,373

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100,000

Ordinary

£1

100,000

100,000

10.

RESERVES

Retained

earnings

£

At 1 January 2024

2,233,146

Profit for the year

359,932

Dividends

(300,000

)

At 31 December 2024

2,293,078

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

The Report of the Auditors was unqualified.

Wayne Gutteridge ACA (Senior Statutory Auditor)

for and on behalf of HB&O Ltd

12.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme in respect of certain employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £42,344 (2023 - £41,246). At 31 December 2024 outstanding contributions amounted to £9,626 (2023 - £9,647).

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.

During the year Fisher & Partners (Management Services) Limited, a company in which B J Fisher is a director, provided management accounting services to P.M.D. (UK) Limited totalling £17,784 (2023 - £19,938). The amount due to the related party at the balance sheet date was £6,380 (2023 - £6,676).

14.	ULTIMATE PARENT COMPANY

The company is a wholly owned subsidiary of PMD Group Limited, a company incorporated in England and Wales.