Company No: 06296403 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Financial Statements

DIRECTORS	J Osborne
	S M Tempest

REGISTERED OFFICE	14 London Road
	Newark
	NG24 1TW
	United Kingdom

COMPANY NUMBER

06296403 (England and Wales)

ACCOUNTANT	Duncan & Toplis Limited
	14 London Road
	Newark
	NG24 1TW

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	1,606,997		1,615,606
		1,606,997		1,615,606
Current assets
Stocks		44,540		41,740
Debtors	4	110,358		117,946
Cash at bank and in hand		31,945		23,385
		186,843		183,071
Creditors: amounts falling due within one year	5	( 486,588)		( 389,180)
Net current liabilities		(299,745)		(206,109)
Total assets less current liabilities		1,307,252		1,409,497
Creditors: amounts falling due after more than one year	6	( 77,124)		( 221,257)
Provision for liabilities		( 276,722)		( 22,029)
Net assets		953,406		1,166,211
Capital and reserves
Called-up share capital	7	1,000		1,000
Fair value reserve		770,507		1,027,343
Profit and loss account		181,899		137,868
Total shareholders' funds		953,406		1,166,211

For the financial year ending 31 October 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge 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 Pulse Development (UK) Limited (registered number: 06296403) were approved and authorised for issue by the Board of Directors on 13 May 2026. They were signed on its behalf by:

S M Tempest Director

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 year, unless otherwise stated.

General information and basis of accounting

Pulse Development (UK) 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 14 London Road, Newark, NG24 1TW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Turnover

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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

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:

Land and buildings	not depreciated
Plant and machinery etc.	20 % reducing balance

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	50		40

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost/Valuation
At 01 November 2024	1,527,450		283,396		1,810,846
Additions	0		10,533		10,533
At 31 October 2025	1,527,450		293,929		1,821,379
Accumulated depreciation
At 01 November 2024	0		195,240		195,240
Charge for the financial year	0		19,142		19,142
At 31 October 2025	0		214,382		214,382
Net book value
At 31 October 2025	1,527,450		79,547		1,606,997
At 31 October 2024	1,527,450		88,156		1,615,606

Revaluation of tangible assets

The freehold and leasehold land and buildings valuation as at the year end of £1,527,450 is made up of an initial cost of £500,087 and revaluation movements of £1,027,343.

	2025		2024
	£		£
Historical cost	500,087		500,087
Carrying value	500,087		500,087

4. Debtors

	2025		2024
	£		£
Trade debtors	10,515		20,000
Prepayments	25,822		31,725
Other debtors	74,021		66,221
	110,358		117,946

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts (secured £ 70,512)	172,802		66,967
Trade creditors	110,552		165,350
Amounts owed to directors	4,358		2,295
Accruals	4,505		4,505
Taxation and social security	193,081		148,291
Obligations under finance leases and hire purchase contracts	0		437
Other creditors	1,290		1,335
	486,588		389,180

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	77,124		221,257

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each	1,000		1,000

8. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	2,830,386		3,069,495