Pen-Link Technologies Uk Ltd. - Accounts to registrar (filleted)

REGISTERED NUMBER: 12432598 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Pen-Link Technologies Uk Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

O Timianker

D Stewart

P Weber

S White

REGISTERED OFFICE:

Alliance House

12 Caxton Street

London

SW1H 0QS

REGISTERED NUMBER:

12432598 (England and Wales)

ACCOUNTANTS:

ERB London

1-2 Charterhouse Mews

London

EC1M 6BB

FIXED ASSETS

Tangible assets

4

225,294

4,600

CURRENT ASSETS

Debtors

5

1,907,594

3,571,152

Cash at bank

31,019

390,485

1,938,613

3,961,637

CREDITORS

Amounts falling due within one year

6

(2,070,821

)

(2,577,952

)

NET CURRENT (LIABILITIES)/ASSETS

(132,208

)

1,383,685

TOTAL ASSETS LESS CURRENT
LIABILITIES

93,086

1,388,285

CREDITORS

Amounts falling due after more than one year

7

(236,053

)

(1,562,688

)

NET LIABILITIES

(142,967

)

(174,403

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(143,067

)

(174,503

)

(142,967

)

(174,403

)

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 September 2025 and were signed on its behalf by:

O Timianker - Director

1.	STATUTORY INFORMATION

Pen-Link Technologies 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.

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.

Tangible fixed assets

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

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.

Leases - early adoption of ifrs 16

The company has elected to adopt IFRS 16 Leases prior to its mandatory effective date. Accordingly, lease arrangements have been recognised in these financial statements as right-of-use assets and corresponding lease liabilities, in accordance with the requirements of the standard.

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 13 (2023 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2024

-

6,929

Additions

264,244

29,519

293,763

At 31 December 2024

264,244

36,448

300,692

DEPRECIATION

At 1 January 2024

-

2,329

Charge for year

66,060

7,009

73,069

At 31 December 2024

66,060

9,338

75,398

NET BOOK VALUE

At 31 December 2024

198,184

27,110

225,294

At 31 December 2023

-

4,600

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

28,717

-

Amounts owed by group undertakings

1,832,009

3,571,152

Other debtors

46,868

-

1,907,594

3,571,152

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Mesh account

10,416

3,675

Trade creditors

6,030

25,853

Amounts owed to group undertakings

2,769

2,755

Taxation and social security

14,719

71,620

Accruals and deferred income

1,879,425

2,455,498

Commission liability

33,060

13,832

Other creditors

5,045

4,719

Lease Liability

119,356

-

2,070,821

2,577,952

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Deferred income

119,437

1,562,688

Lease liability

116,616

-

236,053

1,562,688

8.	RELATED PARTY DISCLOSURES

At the balance sheet date, included within other creditors, is an amount of £2,769 (2023: £2,755) due to Cobwebs Asia, a related party under common control.

At the balance sheet date, included within other debtors, is an amount of £1,831,599 (2023: £3,570,950) due from Penlink Technologies Ltd (formerly Cobwebs Technologies Ltd), a related party under common control.

At the balance sheet date, included within other debtors, is an amount of £410 (2023: £202) due to Cobwebs GMBH, a related party under common control.

9.	ULTIMATE CONTROLLING PARTY

The immediate and ultimate controlling party is Penlink Ltd, the parent company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pen-Link Technologies UK Ltd for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the director of Pen-Link Technologies UK Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pen-Link Technologies UK Ltd and state those matters that we have agreed to state to the director of Pen-Link Technologies UK Ltd. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pen-Link Technologies UK Ltd and its director for our work or for this report.

It is your duty to ensure that Pen-Link Technologies UK Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pen-Link Technologies UK Ltd. You consider that Pen-Link Technologies UK Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pen-Link Technologies UK Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

ERB London

1-2 Charterhouse Mews

London

EC1M 6BB

26 September 2025