REGISTERED NUMBER: 03762835 (England and Wales)

Financial Statements

for the Year Ended 31 August 2025

for

M.A.C. Solutions (UK) Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

92,800

104,609

Tangible assets

5

60,156

37,982

Investments

6

3,703

3,703

156,659

146,294

CURRENT ASSETS

Stocks

7

61,856

137,193

Debtors

8

1,802,238

2,346,741

Cash at bank and in hand

184,419

222,470

2,048,513

2,706,404

CREDITORS

Amounts falling due within one year

9

1,781,454

1,489,166

NET CURRENT ASSETS

267,059

1,217,238

TOTAL ASSETS LESS CURRENT LIABILITIES

423,718

1,363,532

PROVISIONS FOR LIABILITIES

12,834

7,575

NET ASSETS

410,884

1,355,957

CAPITAL AND RESERVES

Called up share capital

2,731,550

2,731,550

Other reserves

233,375

233,375

Retained earnings

(2,554,041

)

(1,608,968

)

SHAREHOLDERS' FUNDS

410,884

1,355,957

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by:

Mr I Bailey - Director

1.	STATUTORY INFORMATION

M.A.C. Solutions (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03762835

Registered office:

Unit 1 Oakfield Road

Cheadle Royal Business Park

Cheadle

Cheshire

SK8 3GX

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The M.A.C. Solutions (UK) Ltd and Pantek Ltd Board remains committed to investing in the ProcessVue area of the business as set out in both the 3 year and annual business plan. We have costed the investment for the next twelve months considering 3 scenarios including a worst case where the business would perform at a similar level to 2023 and 2024 requiring investment support at the £1.2M level. We are comfortable that this is affordable without placing undue strain on other areas of our business. Whilst we remain committed to this investment we are happy that the carrying value of goodwill is appropriate and not suggest any impairment review at this time.

Given the above comments, as directors of the Pantek group, we can confirm that we will support M.A.C. Solutions Ltd for at least the 12 month period following the approval and finalisation of the financial statements of the group.

Preparation of consolidated financial statements

The financial statements contain information about M.A.C. Solutions (UK) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

The critical judgments that the directors have made in the process of applying the company's accounting policies and key sources of estimation uncertainty that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below.

Key judgements

Key sources of estimation uncertainty

The key assumptions concerning the future, and other key sources of estimation uncertainty, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 the company has transferred the significant risks and rewards of ownership to the buyer and the company retains no ownership or effective control over the goods sold.

Long term licensing contracts

Revenue from licensing contracts is calculated as the proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.

Long term support contracts

Long term support contract revenue is recognised on a straight line basis over the period of the contract.

Recoverability of trade debtors

The company establishes a provision for trade debtors that are estimated not to be recoverable. When assessing recoverability the directors consider factors such as the aging of the trade debtors, past experience of recoverability and the credit profile of individual or groups of customers.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Licenses and intellectual property are being amortised evenly over their estimated lives as follows:

Licenses

-

3 years or over life of license if shorter

Intellectual property

-

20 years

Assessing indicators of impairment

In assessing whether there have been any indicators of impairment of assets, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience of recoverability. There have been no indicators of impairments identified during the current financial year.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as described below.

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Determining residual values of tangible assets

Judgement is applied by management when determining the residual values for fixed assets. When determining the residual value management aim to assess the amount that the company would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful economic life. Where possible this is done with reference to external market prices.

Estimated useful life of tangible assets

The company depreciates tangible assets over their estimated useful lives. The estimation of the useful lives of tangible assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes.

Investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

At each reporting date, an assessment is made for impairment, being any excess of the carrying amount held stocks over its estimated selling price less costs to complete and sell. The impairment loss, and any subsequent reversal, is recognised in the statement of comprehensive income.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 45 (2024 - 41 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 September 2024

and 31 August 2025

243,244

AMORTISATION

At 1 September 2024

138,635

Amortisation for year

11,809

At 31 August 2025

150,444

NET BOOK VALUE

At 31 August 2025

92,800

At 31 August 2024

104,609

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 September 2024

14,179

69,438

83,617

Additions

5,459

39,393

44,852

Disposals

(2,555

)

(25,586

)

(28,141

)

At 31 August 2025

17,083

83,245

100,328

DEPRECIATION

At 1 September 2024

9,565

36,070

45,635

Charge for year

2,210

20,118

22,328

Eliminated on disposal

(1,960

)

(25,831

)

(27,791

)

At 31 August 2025

9,815

30,357

40,172

NET BOOK VALUE

At 31 August 2025

7,268

52,888

60,156

At 31 August 2024

4,614

33,368

37,982

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2024

and 31 August 2025

3,703

NET BOOK VALUE

At 31 August 2025

3,703

At 31 August 2024

3,703

Name

Registered office

Nature of business

Holding

M.A.C Solutions SARL

1 Avenue Christian Doppler, Bât 3, 77700 Serris, Paris, France.

Sale of hardware, software and consultancy

100%

Processvue INC

16192 Coastal Highway, Lewes, Delaware 19958, County of Sussex

Sale of hardware, software and consultancy

100%

7.

STOCKS

2025

2024

£

£

Stocks

61,856

137,193

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

724,349

498,406

Amounts owed by group undertakings

987,513

1,766,074

Other debtors

16,437

4,298

Tax

732

-

Prepayments

73,207

77,963

1,802,238

2,346,741

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

441,144

409,830

Amounts owed to group undertakings

30,557

27,571

Social security and other taxes

47,712

41,461

VAT

112,043

103,822

Other creditors

8,825

8,905

Accruals and deferred income

1,141,173

897,577

1,781,454

1,489,166

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jeremy Bostock BA(Hons) BFP FCA (Senior Statutory Auditor)

for and on behalf of Thompson Wright (Audit) Limited

11.	FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £239,497 (2024: £123,607). These financial commitments represents the total amount of payments remaining on leases ending on or before 2028.

Details of Security held with HSBC UK:

Debenture including Fixed Charge over all present assets:

- Fixed charge over book and other debts, chattels, goodwill and uncalled capital both present and future.

- First floating charge over all assets and undertaking both present and future dated 28 June 2001.

12.	ULTIMATE CONTROLLING PARTY

The parent company and controlling party is Pantek Limited, a company registered in England and Wales. A copy of the financial statements are available from Unit 1 Oakfield Road, Cheadle Royal business Park, Cheadle, Cheshire, SK8 3GX.

The ultimate controlling parties are Mr J Bailey and Mrs C Bailey.