PST Sport (UK) Limited iXBRL

Company Registration Number: NI637769

PST Sport (UK) Limited

Annual Report and Financial Statements

for the financial year ended 30 December 2024

PST Sport (UK) Limited

DIRECTOR AND OTHER INFORMATION


Director	Colin Teahon


Company Secretary	Colin Teahon


Company Registration Number	NI637769


Registered Office and Business Address	Suite 4000-4025
	Margaret Street
	Newry
	Down
	Northern Ireland


Independent Auditors	CSG Professional Services UK Limited
	Chartered Certified Accountants and Statutory Auditors
	3 Day Place
	Tralee
	Co.Kerry
	Ireland


Bankers	Bank of Ireland UK
	7 Townhall Street
	Enniskillen
	BT74 7BD
	United Kingdom

PST Sport (UK) Limited

DIRECTOR'S REPORT

for the financial year ended 30 December 2024

The director presents their report and the audited financial statements for the financial year ended 30 December 2024.

Principal Activity

The principal activity of the company is in the design and installation of artificial grass surfaces for schools, clubs and sporting organisations.

Director

The director who served during the financial year is as follows:

Colin Teahon

There were no changes in shareholdings between 30 December 2024 and the date of signing the financial statements.

In accordance with the Memorandum of Association, the director are not required to retire by rotation.

Political Contributions

The company did not make any disclosable political donations in the current financial year.

Statement of Director's Responsibilities

The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities). Under company law the director must not approve the financial statements unless they is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the director is required to:

-select suitable accounting policies and apply them consistently;

-make judgements and accounting estimates that are reasonable and prudent;

-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of Information to Auditor

Each person who is a director at the date of approval of this report confirms that:

In so far as the director is aware:

-there is no relevant audit information (information needed by the company's auditor in connection with preparing the auditor's report) of which the company's auditor is unaware, and

-the director has taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

Auditors

The auditors, CSG Professional Services UK Limited, (Chartered Certified Accountants) have indicated their willingness to continue in office in accordance with the provisions of Section 485 of the Companies Act 2006.

Special provisions relating to small companies

The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board

___________________________

Colin Teahon

Director

8 October 2025

INDEPENDENT AUDITOR'S REPORT

to the Shareholders of PST Sport (UK) Limited

Report on the audit of the financial statements

Opinion

We have audited the financial statements of PST Sport (UK) Limited ('the company') for the financial year ended 30 December 2024 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes to the financial statements, including significant accounting policies set out in note . The financial reporting framework that has been applied in their preparation is applicable Law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities).

In our opinion the financial statements:

-give a true and fair view of the state of the company's affairs as at 30 December 2024 and of its profit for the financial year then ended;

-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report other than the financial statements and our Auditor's Report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Director's Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified any material misstatements in the Director's Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of director's remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit; or

the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the Director's Report.

Responsibilities of director for the financial statements

The director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intend to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Enquiry of management around actual and potential litigation and claims;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; and

- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, and reviewing accounting estimates for bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

A further description of our responsibilities for the audit of the financial statements is contained in the appendix to this report, located at page , which is to be read as an integral part of our report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

__________________________________

Trevor McKenna (Senior Statutory Auditor)

for and on behalf of

CSG PROFESSIONAL SERVICES UK LIMITED

Chartered Certified Accountants and Statutory Auditors

3 Day Place

Tralee

Co.Kerry

Ireland

8 October 2025

PST Sport (UK) Limited

APPENDIX TO THE INDEPENDENT AUDITOR'S REPORT

Further information regarding the scope of our responsibilities as auditor

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor's Report. However, future events or conditions may cause the company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

PST Sport (UK) Limited

PROFIT AND LOSS ACCOUNT

for the financial year ended 30 December 2024

Dec 24

Dec 23

Notes

Turnover	4,708,360	2,214,838

Cost of sales	(3,602,506)	(1,781,346)
	─────────	─────────
Gross profit	1,105,854	433,492

Administrative expenses	(1,098,139)	(433,833)
	─────────	─────────
Profit/(loss) on ordinary activities before taxation	7,715	(341)

Tax on profit/(loss) on ordinary activities	72,265	194,313
	─────────	─────────
Profit for the financial year	79,980	193,972
	─────────	─────────
Total comprehensive income	79,980	193,972
	═════════	═════════

PST Sport (UK) Limited

Company Registration Number: NI637769

BALANCE SHEET

as at 30 December 2024

Dec 24

Dec 23

Notes

Fixed Assets

Tangible assets

39,860

13,835

─────────

Current Assets

Stocks

686,670

371,054

Debtors

786,189

666,936

Cash and cash equivalents

392,287

7,565

─────────

1,865,146

1,045,555

─────────

Creditors: amounts falling due within one year

(1,537,319)

(771,683)

─────────

Net Current Assets

327,827

273,872

─────────

Total Assets less Current Liabilities

367,687

287,707

═════════

Equity

Called up share capital

100

100

Retained earnings

367,587

287,607

─────────

Equity attributable to owners of the company

367,687

287,707

═════════

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

Approved by the Director and authorised for issue on 8 October 2025



________________________________
Colin Teahon
Director

PST Sport (UK) Limited

STATEMENT OF CHANGES IN EQUITY

as at 30 December 2024

	Called up	Retained	Total
	share	earnings
	capital
	£	£	£

At 31 December 2022	100	93,635	93,735
	─────────	─────────	─────────
Profit for the financial year	-	193,972	193,972
	─────────	─────────	─────────
At 30 December 2023	100	287,607	287,707
	─────────	─────────	─────────
Profit for the financial year	-	79,980	79,980
	─────────	─────────	─────────
At 30 December 2024	100	367,587	367,687
	═════════	═════════	═════════

PST Sport (UK) Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 30 December 2024

General Information

PST Sport (UK) Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI637769. The registered office of the company is Suite 4000-4025, Margaret Street, Newry, Down, Northern Ireland which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 30 December 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

For long term contracts and services rendered over time, revenue is recognised using the percentage of completion method, reflecting the stage of completion of the contract at the reporting date. The company recognises revenue when the contract outcome can be reliably estimated, it is probably that economic benefits will flow to the entity and the stage of completion and costs to complete can be reliably measured. The state of completion is determined using completion of physical proportion of the contract work. Contract revenue includes: Initial contract amount, and approved variations if applicable.

Where it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised immediately as an expense.

Tangible assets and depreciation

Tangible Fixed assets are initially stated at cost or at valuation and subsequently measured at cost, less accumulated depreciation and any impairment losses. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:

Plant and machinery

15% Straight line

Motor vehicles

25% Straight line

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Impairment

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks

Stocks are stated at the lower of cost and net realisable value using the first in first out method. In the case of finished goods and work in progress, cost is defined as the aggregate cost of raw material, direct labour and the attributable proportion of direct production overheads based on a normal level of capacity. Net realisable value is based on normal selling price, less further costs expected to be incurred to completion and disposal.

Where revenue recognised exceeds amounts invoiced, the difference is recorded as a contract asset (accrued income). Where invoiced amounts exceed revenue recognised, the excess is recorded as a contract liability (deferred income).At the end of each reporting period, stocks and work in progress are assessed for impairment. If an item (or group of items) is impaired, an impairment loss is recognised.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Employee benefits

Short term employee benefits, including wages and salaries, paid holiday arrangements and post-employment benefits (in the form of a defined contribution pension plan) are recognised as an expense in the financial year in which employees render the related service.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Significant accounting judgements and key sources of estimation uncertainty

The company recognises revenue and work in progress on long-term contracts using the percentage of completion method. This approach requires management to exercise judgement and make estimates that have a significant impact on the financial statements.

Significant Judgements

Management has determined that the company satisfies its performance obligations over time, based on the continuous transfer of control to the customer. Accordingly, revenue is recognised in proportion to the stage of completion of each contract.

The stage of completion is assessed using completion of physical proportion of the contract work. Contract revenue includes: Initial contract amount, and approved variations if applicable.. This method is considered to best reflect the company’s progress in delivering the contracted services.

Key Sources of Estimation Uncertainty

• Estimated Total Costs: Forecasting the total costs to complete each contract involves estimating future labour, materials, subcontractor charges, and overheads. These estimates are inherently uncertain and subject to change.

• Contract Revenue: Revenue may include variable consideration such as variations, claims, and incentive payments. These are recognised only when it is highly probable that they will not result in a significant reversal.

• Stage of Completion: The percentage of completion is sensitive to changes in cost estimates and actual progress. Revisions to estimates may result in significant adjustments to revenue and WIP.

• Provision for Losses: Where a contract is expected to be loss-making, the full anticipated loss is recognised immediately. This requires judgement in assessing future costs and recoverability.

Management reviews contract performance and estimates regularly and updates them as new information becomes available. Any changes in estimates are accounted for prospectively.


4.	Operating profit/(loss)	Dec 24	Dec 23
		£	£
	Operating profit/(loss) is stated after charging/(crediting):
	Depreciation of tangible assets	6,153	3,608
	Loss/(profit) on disposal of tangible assets	4,530	-
	Profit on foreign currencies	(3,962)	(18)
		═════════	═════════

Employees

The average monthly number of employees, including director, during the financial year was 3, (Dec 23 - 3).

Dec 24

Dec 23

Number

Number

Employees

═════════


6.	Tangible assets
		Plant and	Motor	Total
		machinery	vehicles

		£	£	£
	Cost
	At 31 December 2023	-	18,045	18,045
	Additions	4,308	39,900	44,208
	Disposals	-	(18,045)	(18,045)
		─────────	─────────	─────────
	At 30 December 2024	4,308	39,900	44,208
		─────────	─────────	─────────
	Depreciation
	At 31 December 2023	-	4,210	4,210
	Charge for the financial year	359	5,794	6,153
	On disposals	-	(6,015)	(6,015)
		─────────	─────────	─────────
	At 30 December 2024	359	3,989	4,348
		─────────	─────────	─────────
	Net book value
	At 30 December 2024	3,949	35,911	39,860
		═════════	═════════	═════════
	At 30 December 2023	-	13,835	13,835
		═════════	═════════	═════════

Stocks

Dec 24

Dec 23

Work in progress

686,670

371,054

═════════

At the end of each reporting period, work in progress is assessed for impairment, no impairment was needed at the year end.

Debtors

Dec 24

Dec 23

Trade debtors

507,419

304,066

Other debtors

42,581

25,697

Taxation (Note 10)

189,828

330,619

Prepayments and accrued income

46,361

6,554

─────────

786,189

666,936

═════════

All debtors are due within one year. Debtors are shown net of impairment for bad debts of £0 (2023: £0). Bad debts expensed to the profit and loss in the year was £0 (2023: £10)

Creditors

Dec 24

Dec 23

Amounts falling due within one year

Trade creditors

647,411

393,075

Amounts owed to group undertakings

417,891

181,090

Taxation (Note 10)

12,588

1,074

Accruals and deferred income

459,429

196,444

─────────

1,537,319

771,683

═════════

The repayment terms of trade creditors vary between on demand and ninety days. No interest is payable on trade creditors.

Tax and national insurance are subject to the terms of the relevant legislation. Interest accrues on late payments at rates predetermined by the HMRC. No interest was due at the financial year end date.

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.


10.	Taxation	Dec 24	Dec 23
		£	£

	Debtors:
	VAT	-	4,487
	Corporation tax	181,071	303,791
	Construction industry scheme	8,757	22,341
		─────────	─────────
		189,828	330,619
		═════════	═════════
	Creditors:
	VAT	12,588	-
	PAYE / NI	-	1,074
		─────────	─────────
		12,588	1,074
		═════════	═════════


11.	Share capital			Dec 24	Dec 23
				£	£
	Description	Number of shares	Value of units

	Allotted, called up and fully paid
	Ordinary Shares	100	£1.00 each	100	100

				═════════	═════════

12.

Capital commitments

The company had no material capital commitments at the financial year-ended 30 December 2024.

13.

Related party transactions

The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings.

14.

Parent company

The company regards PST Sport Group Limited as its parent company. PST Sport Group Limited is a company incorporated in the Republic of Ireland with a registered address at Monavalley Business Park, Tralee, Co.Kerry, Ireland.

The parent of the largest group in which the results are consolidated is PST Sport Group Limited.

PST Sport Group Limited is registered in Ireland.

15.

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year-end.

16.

Comparative figures

Comparative amounts have been regrouped/restated, where necessary, on the same basis as those for the current year.