ACCOUNTS - Final Accounts

Registered number: 11784808

PENN ELCOM (UK) HOLDINGS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

PENN ELCOM (UK) HOLDINGS LIMITED

COMPANY INFORMATION

Directors	R. P. Willems
	P. J. Stratford


Registered number	11784808


Registered office	1st Floor Sackville House
	143-149 Fenchurch Street
	London
	EC3M 6BN


Independent auditors	Wilder Coe Ltd
	Chartered Accountants & Statutory Auditors
	1st Floor Sackville House
	143-149 Fenchurch Street
	London
	EC3M 6BL

PENN ELCOM (UK) HOLDINGS LIMITED

CONTENTS

	Page
Balance Sheet	1
Notes to the Financial Statements	2 - 4

PENN ELCOM (UK) HOLDINGS LIMITED

REGISTERED NUMBER: 11784808

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Investments	5		70,002		70,002
Current liabilites
Creditors: amounts falling due within one year	6	(39,810)		(30,745)
Net current liabilities			(39,810)		(30,745)

Net assets			30,192		39,257

Capital and reserves
Called up share capital	70,002	70,002
Profit and loss account	(39,810)	(30,745)
Equity shareholders' funds	30,192	39,257

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.

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

The Company has opted not to file the Directors' Report and Statement of Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on
22 October 2025.

R. P. Willems

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

PENN ELCOM (UK) HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Penn Elcom (UK) Holdings Limited (registered number: 11784808), having its registered office at 1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BN, is a private limited company incorporated in England and Wales.
The principal place of business is Philips House, Ponswood industrial Estate, Drury Lane, St Leonards On Sea, East Sussex, TN38 9BA.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Statement of cash flows

The Company has taken advantage of the exemption in Financial Reporting Standard 102, Section 1A.7 from the requirement to produce a Statement of Cash Flows on the grounds that it is a small company.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is British Pound Sterling GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period-end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.4

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

2.5

Investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 2

PENN ELCOM (UK) HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Creditors

Short-term creditors are measured at the transaction price.

2.7

Current and deferred taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees


	The average monthly number of employees, including directors, during the year was 2 (2023 - 4).

4.	Amounts written off loans
		2024	2023
		£	£

Intercompany loans written off

2,969,029

Page 3

PENN ELCOM (UK) HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost
	At 1 January 2024 and at 31 December 2024	70,002

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Accruals and deferred income	8,340	15,600
Amounts owed to group undertakings	31,470	15,145
	39,810	30,745

7.	Ultimate controlling party

The ultimate parent undertaking and immediate parent company as at 31 December 2024 and 31 December 2023 is Penn Elcom Corporation, a company incorporated in the British Virgin Islands. The ultimate controlling party is R. P. Willems by virtue of his shareholding in Penn Elcom Corporation.

8.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 29 October 2025 by Chris Gent BA FCA (Senior Statutory Auditor) on behalf of Wilder Coe Ltd.

Page 4