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Company Registration No. 12089234 (England and Wales)
PNG Solutions Limited Unaudited accounts for the year ended 31 July 2025
PNG Solutions Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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PNG Solutions Limited Company Information for the year ended 31 July 2025
Director
Mr P Grimsley
Company Number
12089234 (England and Wales)
Registered Office
19 HEVERSHAM ROAD BEXLEYHEATH DA7 5BE ENGLAND
Accountants
Rustrick Accountants Limited 380A New Hythe lane Larkfield Maidstone Kent ME20 6RZ
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PNG Solutions Limited Statement of financial position as at 31 July 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
2,335
1,455
Current assets
Debtors
5
40,604
10,539
Cash at bank and in hand
101,469
171,706
142,073
182,245
Creditors: amounts falling due within one year
6
(80,304)
(82,702)
Net current assets
61,769
99,543
Total assets less current liabilities
64,104
100,998
Creditors: amounts falling due after more than one year
7
(400)
(5,600)
Net assets
63,704
95,398
Capital and reserves
Called up share capital
1
1
Profit and loss account
63,703
95,397
Shareholders' funds
63,704
95,398
For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 April 2026 and were signed on its behalf by
Mr P Grimsley Director Company Registration No. 12089234
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PNG Solutions Limited Notes to the Accounts for the year ended 31 July 2025
1
Statutory information
PNG Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 12089234. The registered office is 19 HEVERSHAM ROAD, BEXLEYHEATH, DA7 5BE, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Reducing Balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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PNG Solutions Limited Notes to the Accounts for the year ended 31 July 2025
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 August 2024
233
2,843
3,076
Additions
-
1,323
1,323
At 31 July 2025
233
4,166
4,399
Depreciation
At 1 August 2024
58
1,563
1,621
Charge for the year
44
399
443
At 31 July 2025
102
1,962
2,064
Net book value
At 31 July 2025
131
2,204
2,335
At 31 July 2024
175
1,280
1,455
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
40,604
10,317
Accrued income and prepayments
-
222
40,604
10,539
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
4,800
4,400
VAT
3,959
5,576
Trade creditors
26,041
144
Taxes and social security
2,486
26,889
Other creditors
80
1,389
Loans from directors
42,438
43,804
Accruals
500
500
80,304
82,702
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PNG Solutions Limited Notes to the Accounts for the year ended 31 July 2025
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
400
5,600
8
Average number of employees
During the year the average number of employees was 1 (2024: 1).
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