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Registration number: 07659390

Prepared for the registrar
Pulse Global Holdings Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 March 2025

Pulse Global Holdings Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 6

Pulse Global Holdings Limited

Company Information

Director | G P Sheppard

Registered office | Church Road Wick Bristol BS30 5PE

Accountants | Hazlewoods LLP Windsor House Bayshill Road Cheltenham GL50 3AT

Pulse Global Holdings Limited

(Registration number: 07659390)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Investments | 4 | 250,000 | 250,000
Current assets |  |  |
Debtors | 5 | 27,318 | 27,318
Cash at bank and in hand |  | 6,424 | 61,724
|  | 33,742 | 89,042
Creditors: Amounts falling due within one year | 6 | (27,100) | (27,100)
Net current assets |  | 6,642 | 61,942
Net assets |  | 256,642 | 311,942
Capital and reserves |  |  |
Called up share capital | 7 | 77,203 | 77,203
Capital redemption reserve |  | 7,184 | 7,184
Retained earnings |  | 172,255 | 227,555
Shareholders' funds |  | 256,642 | 311,942

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 October 2025

G P Sheppard
Director

Pulse Global Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

| 1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Church Road
Wick
Bristol
BS30 5PE

| 2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Judgements

No significant judgements or key sources of estimation uncertainty have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge 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.

Pulse Global Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Debtors

Debtors are recognised initially at the transaction price. All debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of 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 debtors.

Creditors

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.
Creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Pulse Global Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

| 3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2024 - 0).

| 4 | Investments

| 2025 £ | 2024 £
Investments in associates | 250,000 | 250,000

Associates | £
Cost and carrying amount
At 31 March 2024 and 31 March 2025 | 250,000

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Joint ventures
Pulse Roll Label Products Limited | Unit U Lawrence Drive, Yate, Bristol, BS37 5PG | Ordinary | 50% | 50%
| England & Wales |  |  |

Joint ventures
Pulse Roll Label Products Limited The principal activity of Pulse Roll Label Products Limited is ancillary printing operations.

Pulse Global Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

| 5 | Debtors

| 2025 £ | 2024 £
Other debtors | 27,318 | 27,318
| 27,318 | 27,318

| 6 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Amounts due to related parties | 8 | 27,100 | 27,100

| 7 | Share capital

Allotted, called up and fully paid shares

| 31 March 2025 | 31 March 2024
| No. | £ | No. | £
Ordinary A shares of £1 each | 40,917 | 40,917 | 40,917 | 40,917
Ordinary C shares of £1 each | 2,532 | 2,532 | 2,532 | 2,532
Ordinary E Shares of £1 each | 33,754 | 33,754 | 33,754 | 33,754
| 77,203 | 77,203 | 77,203 | 77,203

| 8 | Related party transactions

Transactions with directors
Transactions with directors on the year were in relation to loan repayments totalling £Nil (2024: £80,872). Loan balances outstanding at the year end were £Nil (2024: £Nil).
Transactions with group companies
The company received dividends of £Nil (2024: £120,000) from subsidiaries.
Transactions with joint ventures
The company received dividends of £45,815 (2024: £242,708) from joint ventures.
Transactions with other related parties
There were no transactions with other related parties in the year (2024: £Nil). Amounts due to related parties at the year end totalled £27,100 (2024: £27,100).

| 9 | Parent and ultimate parent undertaking

The company's immediate parent is Pulse RL Holdings Limited, incorporated in England and Wales.
The ultimate controlling party is G Sheppard.