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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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PCE AUTOMATION LIMITED
COMPANY INFORMATION
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PCE AUTOMATION LIMITED
CONTENTS
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PCE AUTOMATION LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their strategic report, together with financial statements for the year ending 31st December 2024.
The principal activity of the company is the design and manufacture of automation equipment. PCE Automation operates within the market sectors of Ocular, Life Sciences, Consumer Goods, Packaging, and Build-to-Print.
The year began with booked sales of approximately £38 million, driven by the award of several major contracts from new blue-chip clients alongside continued growth from existing customers. Following a strong first quarter, the company experienced a significant adverse event when a customer requested a pause to work already in progress for internal operational reasons. Given the sudden nature of the request and the stage of completion at the time, it was not practicable to quickly re-adjust staffing levels and resources, resulting in a loss of anticipated revenue and material disruption costs during the year. This position was further exacerbated by certain contracts undertaken during the year, including two projects carried over from the previous year, which proved to be more complex and costly than originally estimated. As a consequence, gross profit for the year was insufficient to absorb the overhead cost base, which had been structured to support the higher level of turnover originally budgeted. This resulted in an operating loss of £132,595. At EBITDA level, the company generated a modest positive result of £121,270, and after interest and taxation the profit for the year was £31,834. Turnover for the year reduced by 14% compared with the prior year. Gross profit margin experienced a reduction of approximately 2%, while overhead costs increased by 25%, reflecting the level of infrastructure and capability maintained to support the higher expected workload. The combined effect of these factors materially constrained profitability during the year. The balance sheet remains strong, with reserves of £5.5 million and cash balances of approximately £2.4 million at the year end. During the year, the combination of reduced turnover, project disruption, and the timing of customer cash receipts resulted in periods of tighter liquidity headroom. The directors have taken, and continue to take, active steps to manage this position. These actions include enhanced cost control, resourcing adjustments, close monitoring of working capital, prioritisation of cash collection, and the re-phasing of discretionary expenditure where appropriate. Management has also strengthened short-term cash forecasting and governance to ensure early visibility of potential risks and timely corrective action. Accounts for the current 2025 financial year indicate a return to profitability, supported by a strong order book and actions already implemented. The directors have reviewed detailed cash flow forecasts and sensitivities covering the period beyond the date of approval of the financial statements and, having regard to the company’s existing banking facilities and ongoing mitigating actions, consider that the company is well positioned to meet its obligations as they fall due.
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PCE AUTOMATION LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Highlights of 2024
In 2024, PCE Automation achieved several notable milestones and innovations:
∙The successful onboarding of Adapt Engineering in the Republic of Ireland (acquired 2023) with an increase in year on year booked sales of 104%. Sizeable investment has also been made in the Dublin office by enhancing facilities, operations, cyber security and the addition of skilled personnel to align with the parent companies Vision & Mission Statement.
∙We successfully acquired OLMEC - UK LIMITED in Q4 2024 along with its highly experienced and respected management team to enhance the parent company’s offering to the Life Science sector. Olmec provides end-to-end solutions within the growth markets of Wound Care, Ostomy Products & Wearable Technologies and aligns with PCE Automation who is already recognised as a trusted supplier within this sector. The acquisition is in sync with our strategic vision and supports our growth targets into 2025 and beyond. OLMEC also expands the PCE Automation offering by bringing an unparalleled expertise in Vision & Data Management solutions.
∙We have made substantial investments in expanding our production floorspace at the Suffolk HQ, which will accommodate our booked sales and operational needs. This expansion is a critical step in supporting our future growth.
∙The industry recognition as a double Queens & Kings Award for Enterprise winner. The KAE Grant of Appointment was presented during the year by the royal official representative the Lord Lieutenant for Suffolk.
The Board of Directors review all principal risks to the business at regular board meetings. The management continually monitor and challenge the company's control measures and procedures to ensure all risks to the company and its employees are minimised.
Financial Performance PCE Automation’s 2024 financial performance was impacted by the rescheduling of a major contract in Q1, resulting in a 14% reduction in turnover. Gross profit margin decreased by 2 percentage points to 21.9%, in light of the above. Overheads increased by 25%, driven by a strategic decision to retain skilled personnel in preparation for delivering a high volume of secured orders in 2025 and 2026. This forward-looking investment resulted in a cost to the business of over £1 million during the year. Future Developments and Risk Management Materials Cost Environment and Control Toward the latter part of the year, management identified increasing volatility in certain material and component costs, reflecting wider market conditions and extended supply chains associated with bespoke automation projects. While this did not materially impact the 2024 outturn, it has been recognised as an area requiring increased management focus going forward. In response, the company has begun strengthening its approach to material cost management, including earlier cost visibility during the design phase, closer alignment between engineering and procurement, and enhanced review of material commitments as projects progress. These measures are being embedded through 2025 and are intended to improve cost predictability and decision-making in an environment of fluctuating input costs. As these processes mature, and subject to prevailing market conditions, management expects the more tangible benefits of these changes to begin to emerge over the medium term, including into the 2026 financial year.
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PCE AUTOMATION LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The company continues to benefit from an experienced management team and a skilled, committed workforce, who have responded positively and decisively to unexpected challenges and increasing customer demands. The consistent delivery of high standards in quality, technical capability, and customer service remains a key differentiator for PCE Automation and has underpinned the company’s long-standing customer relationships.
While 2024 represented a setback, the business enters 2025 with renewed momentum. Although the outlook remains challenging against a backdrop of reduced commercial confidence in the UK and broader global economic and political uncertainty, the company is operating from a sound base, with improved operational focus, enhanced financial discipline, and a resilient platform for future growth. Economic Risk As a strategic policy export revenue continues to grow as an overall percentage of PCE’s business. This is seen as essential to meet the expansion of PCE’s business both domestically and on a global scale. Exposure to any currency fluctuations is systematically reviewed with forward contracts and controlled quotation validity periods to ensure any risk is minimised. As energy prices continue to rise PCE monitors its fixed contracts to ensure exposure to price fluctuations is minimised. This coupled with the benefit of solar panels on the buildings at Suffolk HQ help mitigate the economic risk. Credit Risk PCE Automation manages credit risk by carefully assessing the creditworthiness of all customers and counterparties before extending credit terms. We employ robust credit control measures, including setting credit limits, conducting regular reviews of customer accounts, and using credit insurance when necessary. Our approach ensures a diversified customer base and reduces the likelihood of default, thereby protecting our cash flow and financial health. Liquidity Risk To manage liquidity risk, PCE Automation maintains a strong cash position and access to multiple credit lines. We regularly review our cash flow forecasts to ensure adequate liquidity to meet short-term and long-term obligations. Additionally, we have contingency plans in place to address unforeseen liquidity needs, such as drawing on existing credit facilities or optimizing working capital management. Cash Risk PCE Automation manages cash risk through stringent cash flow management practices, including regular forecasting and monitoring of cash balances. We ensure that surplus cash is effectively utilised or invested in short-term, low-risk instruments to maximize returns without compromising liquidity. Cyber Risk Cybersecurity is also a critical concern. We will invest in robust cybersecurity measures, including our Cyber Certification, which ensures the highest levels of security for our customers' data and that of our employees. Additionally, we will provide ongoing employee training to protect our company and clients from potential threats and adopt a proactive approach to regulatory changes, ensuring compliance with evolving regulations. Competition Research & Development is a vital and key component ensuring the business remains at the forefront of technological advances. Investment in our Applications Department providing pre-sales consultations and Proof of Concept (PoC) work has been a major contributing factory in the high levels of booked sales in 2024. This is a critical activity, which we will continue to invest in, enforcing our competitive advantage. Personnel The skills and flexibility of the PCE employees is a crucial factor to the company’s continued success. The directors partake in a monthly companywide meeting to share business news and answer any queries within the PCE team across all sites. Employee council meetings allow two-way communication to management and ensure the direction & culture of the business is a shared responsibility. Leaver interviews are monitored by the Managing Director to ensure there are no trends or reoccurring issues that need to be addressed.
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PCE AUTOMATION LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors monitor KPIs via monthly management accounts including Sales Enquiries, Revenue, 3 Month Rolling Average of Incoming Orders, Value to be Invoiced, EBITDA.
2024 2023 Change Revenue £14,900,149 £17,379,785 (£2,479,636) EBITDA £121,270 £1,577,710 (£1,456,440) Health & Safety records are analysed at all Board Meetings. The Health & Safety of employees, visitors and contractors is constantly challenged as an ongoing business culture. This is recognised by the companies continued ISO9001 accreditation.
This report was approved by the board and signed on its behalf.
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PCE AUTOMATION LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments 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 directors are 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 to enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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.
The profit for the year, after taxation, amounted to £31,834 (2023 - £1,371,065).
The directors recommended payment of dividends totalling £Nil (2024 - £466,792) during the year.
The directors who served during the year were:
Information on exposure to risk, future developments and going concern are covered in the Strategic Report.
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PCE AUTOMATION LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
There have been no significant events affecting the Company since the year end.
The auditors, Larking Gowen LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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PCE AUTOMATION LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PCE AUTOMATION LIMITED
We have audited the financial statements of PCE Automation Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of Income and Retained Earnings, the Statement of Financial Position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' 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 when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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PCE AUTOMATION LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PCE AUTOMATION LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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PCE AUTOMATION LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PCE AUTOMATION LIMITED (CONTINUED)
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 Auditors' 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:
Due to the field in which the Company operates, we identified the areas most likely to have a direct material impact on the financial statements as UK accounting standards and the Companies Act 2006; health and safety; and employment law. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, included the following:
∙Enquiries with management about any known or suspected instances of non-compliance with laws and regulations, accidents in the workplace and fraud;
∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
∙Challenging assumptions and judgements made by management in their significant accounting estimates;
∙Auditing the risk of management override of controls, including through testing journal entries and adjustments for appropriateness and evaluating the business rationale of significant transactions outside the normal course of business; and
∙Reviewing controls surrounding payments to suppliers and employees, and testing a sample of purchases and payments to ensure these are bona fide business expenses.
There are inherent limitations in our audit procedures described above. The more removed that laws are from
financial transactions, the less likely it is that we would become aware of such non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
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.
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PCE AUTOMATION LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PCE AUTOMATION LIMITED (CONTINUED)
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 Auditors' 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.
for and on behalf of
Chartered Accountants
Statutory Auditors
1st Floor Prospect House
Rouen Road
NR1 1RE
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PCE AUTOMATION LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024
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PCE AUTOMATION LIMITED
REGISTERED NUMBER: 03801408
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 13 to 31 form part of these financial statements.
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The company is a private company limited by shares, registered in England and Wales. The registered office is Ellough Road, Ellough, Beccles, Suffolk, NR34 7TE.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of PCE Group Limited as at 31 December 2024 and these financial statements may be obtained from Ellough Road, Beccles, Suffolk, United Kingdom, NR34 7TE.
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The financial statements have been prepared on a going concern basis. In assessing the appropriateness of this basis due to the nature of operations, the directors have considered the Group’s, to which this company is a member, current and forecast financial position, cash flows, and liquidity.
During 2024 and into 2025, the Group and company increased staff levels and overheads to support anticipated growth in customer orders. However, due to delays in certain contracts, activity levels have not grown, or been delivered at the expected rate. In response, management is actively reviewing the cost base and implementing measures to align expenditure with current trading levels. As part of their assessment, the directors have prepared forecasts until December 2026, taking into consideration expected trading performance, profitability, and potential cost saving measures they may take. The Group’s current working capital facilities include several bank loans and an overdraft facility with HSBC. In addition, there is a £700k invoice financing agreement with another provider. The directors maintain regular dialogue with the bank and maintain a positive working relationship. The overdraft facility, currently at £750k, is renewed annually, to which the next renewal is due in March 2026, and the bank have indicated their continued support with this facility at the current level, with the potential for the facility to increase. The directors have planned various different scenarios over the next 12 months, some of which include several cost-saving measures, to which the above banking facilities will be utilised in the short term, to ensure the long term sustainability of the business. These forecasts show that the Group and company are expected to return to profitability and generate sufficient cash flows to meet its obligations as they fall due for a period of at least 12 months from the date of approval of these financial statements. Based on this assessment, the directors consider it appropriate to continue to adopt the going concern basis in preparing the financial statements.
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
In the case of long-term contract work, turnover reflects the contract activity of the year once contractual obligations have been met and is based on the directors' valuation of work carried out on each contract. Turnover reflects costs incurred to date in establishing and managing the contracts plus the directors' best estimate of attributable profits which include a proportion of the total profits anticipated to be made on the contract, to the extent that their realisation is reasonably foreseeable. Provision is made for foreseeable losses on all contracts based on the loss which is currently estimated to arise over the duration of any contract, irrespective of the amount of work carried out at the balance sheet date. Sales of spare parts are recognised on despatch.
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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.
The estimated useful lives range as follows:
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
At each balance sheet 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.
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
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.
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Critical judgments The following judgments have had the most significant effect on amounts recognised in the financial statements. Revenue recognition The Company uses a percentage-of-completion method in accounting for its fixed price contracts to produce the machinery. Use of the percentage-of-completion method requires the Company to estimate the services performed to date as a proportion of the total services to be performed.
The whole of the turnover is attributable to the principal activity.
Analysis of turnover by country of destination:
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11.Taxation (continued)
There were no factors that may affect future tax charges.
Deferred tax is provided at 25%.
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 24
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13.Tangible fixed assets (continued)
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 26
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 27
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 28
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 29
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Share premium account
Profit and loss account
The Company has provided cross guarantees on loans taken out by the parent company, PCE Group Limited. The balance on the loans at 31 December 2024 was £1,199,866 (2023 - £886,778). No amounts were overdue.
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PCE AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The ultimate controlling party is James Cook, by virtue of his majority shareholding in PCE Group Limited.
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