Company No: 14544332 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	26,220		5,752
		26,220		5,752
Current assets
Stocks		65,607		67,536
Debtors	4	254,989		348,384
Cash at bank and in hand		95,013		166,835
		415,609		582,755
Creditors: amounts falling due within one year	5	( 525,284)		( 584,724)
Net current liabilities		(109,675)		(1,969)
Total assets less current liabilities		(83,455)		3,783
Net (liabilities)/assets		( 83,455)		3,783
Capital and reserves
Called-up share capital		100		100
Profit and loss account		( 83,555 )		3,683
Total shareholders' (deficit)/funds		( 83,455)		3,783

For the financial year ending 31 December 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 Profit and Loss Account has not been delivered.

The financial statements of Pathfinder Cutting Technology UK Limited (registered number: 14544332) were approved and authorised for issue by the Board of Directors on 29 April 2026. They were signed on its behalf by:

Mr J P Hollo 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

Pathfinder Cutting Technology 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 Carlyle House, 78 Chorley New Road, Bolton, BL1 4BY, 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 £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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 Balance Sheet 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:

Plant and machinery	15 % reducing balance
Vehicles	15 % 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 Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account 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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		3

3. Tangible assets

	Plant and machinery		Vehicles		Total
	£		£		£
Cost
At 01 January 2025	6,300		0		6,300
Additions	0		21,600		21,600
At 31 December 2025	6,300		21,600		27,900
Accumulated depreciation
At 01 January 2025	548		0		548
Charge for the financial year	862		270		1,132
At 31 December 2025	1,410		270		1,680
Net book value
At 31 December 2025	4,890		21,330		26,220
At 31 December 2024	5,752		0		5,752

4. Debtors

	2025		2024
	£		£
Trade debtors	106,972		265,075
Corporation tax	0		7,420
Other debtors	148,017		75,889
	254,989		348,384

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	169,792		290,200
Other taxation and social security	30,124		45,623
Other creditors	325,368		248,901
	525,284		584,724

6. Financial commitments

Commitments

At 31 December 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £95,000 (2024 : £117,000).

7. Related party transactions

Other related party transactions

At the period end the company owed an amount of £279,175.40 (2024: £236,316) to Pathfinder Australia Pty Ltd, a company controlled by the directors and registered in Australia. The loan is interest free and repayable on demand.