Company No: 09748744 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.12.2024		31.12.2023
		£		£
Fixed assets
Tangible assets	3	0		1,267
		0		1,267
Current assets
Debtors	4	197,062		170,865
Cash at bank and in hand		26,765		107,765
		223,827		278,630
Creditors: amounts falling due within one year	5	( 4,540)		( 8,819)
Net current assets		219,287		269,811
Total assets less current liabilities		219,287		271,078
Net assets		219,287		271,078
Capital and reserves
Called-up share capital	6	10		10
Share premium account		249,998		249,998
Capital redemption reserve		2		2
Profit and loss account		( 30,723 )		21,068
Total shareholder's funds		219,287		271,078

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Income Statement has not been delivered.

The financial statements of P1F Limited (registered number: 09748744) were approved and authorised for issue by the Director. They were signed on its behalf by:

N Anandakumar Director

24 December 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

P1F Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is Fieldfisher Riverbank House, 2 Swan Lane, London, EC4R 3TT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

The financial statements cover the 12 month period ended 31 December 2024, whereas the comparative figures relate to the 5 month period ended 31 December 2023. Accordingly, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities classified as payable within one year are not amortised.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2. Employees

	Year ended 31.12.2024		Period from 01.08.2023 to 31.12.2023
	Number		Number
Monthly average number of persons employed by the company during the year, including the director	0		0

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2024	5,478		5,478
At 31 December 2024	5,478		5,478
Accumulated depreciation
At 01 January 2024	4,211		4,211
Charge for the financial year	1,267		1,267
At 31 December 2024	5,478		5,478
Net book value
At 31 December 2024	0		0
At 31 December 2023	1,267		1,267

4. Debtors

	31.12.2024		31.12.2023
	£		£
Amounts owed by group undertakings	196,882		136,950
Corporation tax	0		33,325
Other debtors	180		590
	197,062		170,865

Amounts owed by group undertakings include amounts owed by parent and fellow subsidiary undertakings. All amounts are unsecured, repayable on demand and bear no interest.

5. Creditors: amounts falling due within one year

	31.12.2024		31.12.2023
	£		£
Trade creditors	540		3,000
Other creditors	4,000		5,819
	4,540		8,819

6. Called-up share capital

	31.12.2024		31.12.2023
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of 1p each shares of £ 0.01 each	10		10