PulseTeq LTD - Accounts to registrar (filleted)

REGISTERED NUMBER: 07949453 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

PulseTeq LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C P Randell

REGISTERED OFFICE:

Gable End

Beechway

Guildford

Surrrey

GU1 2TA

REGISTERED NUMBER:

07949453 (England and Wales)

ACCOUNTANTS:

Bennewith 2018 Limited

t/a A J Bennewith & Co

Upper Ground Floor

18 Farnham Road

Guildford

Surrey

GU1 4XA

FIXED ASSETS

Intangible assets

4

5,032

6,769

Tangible assets

5

7,504

7,899

12,536

14,668

CURRENT ASSETS

Stocks

48,078

90,867

Debtors

6

4,176

56,302

Cash at bank

26,150

-

78,404

147,169

CREDITORS

Amounts falling due within one year

7

100,191

104,549

NET CURRENT (LIABILITIES)/ASSETS

(21,787

)

42,620

TOTAL ASSETS LESS CURRENT LIABILITIES

(9,251

)

57,288

CREDITORS

Amounts falling due after more than one
year

8

-

13,333

NET (LIABILITIES)/ASSETS

(9,251

)

43,955

CAPITAL AND RESERVES

Called up share capital

90,000

Retained earnings

(99,251

)

(46,045

)

(9,251

)

43,955

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 12 December 2025 and were signed by:

C P Randell - Director

1.	STATUTORY INFORMATION

PulseTeq 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.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the - Company has transferred the significant risks and rewards of ownership to the buyer;

- the Company retains neither continuing managerial involvement to the degree usually associated with

ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the

acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of

acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and

accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of income and

retained earnings over its useful economic life.

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

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

Plant and machinery etc

-

5% on reducing balance

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to

complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and

finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is

reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in

profit or loss.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans

to related parties and investments in ordinary shares.

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

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain

specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Foreign currencies

Functional and presentation currency

The Company's functional and presentational currency is 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 nonmonetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at

period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange

gains and losses are presented in profit or loss within 'other operating income'.

Pension

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension

plan under which the Company pays fixed contributions into a separate entity. Once the contributions have

been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are

shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 4 ).

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

COST

At 1 April 2024

and 31 March 2025

1

17,366

17,367

AMORTISATION

At 1 April 2024

-

10,598

Charge for year

-

1,737

At 31 March 2025

-

12,335

NET BOOK VALUE

At 31 March 2025

1

5,031

5,032

At 31 March 2024

1

6,768

6,769

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

17,115

DEPRECIATION

At 1 April 2024

9,216

Charge for year

395

At 31 March 2025

9,611

NET BOOK VALUE

At 31 March 2025

7,504

At 31 March 2024

7,899

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

-

41,485

Other debtors

4,176

14,817

4,176

56,302

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts

24,666

24,727

Trade creditors

10,575

10,230

Taxation and social security

-

3,554

Other creditors

64,950

66,038

100,191

104,549

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

Bank loans

-

13,333

9.	RELATED PARTY DISCLOSURES

An amount of £59,003 (2024 - £59,882) was due to the director at the year end. No interest has been applied to this balance.