Company No: 11506270 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		$		$
Fixed assets
Tangible assets	3	10,608		11,233
		10,608		11,233
Current assets
Debtors	4	3,229,112		1,496,397
Cash at bank and in hand		48,010		94,521
		3,277,122		1,590,918
Creditors: amounts falling due within one year	5	( 2,750,077)		( 1,569,384)
Net current assets		527,045		21,534
Total assets less current liabilities		537,653		32,767
Creditors: amounts falling due after more than one year	6	( 325,116)		( 36,571)
Net assets/(liabilities)		212,537		( 3,804)
Capital and reserves
Called-up share capital	7	50,000		50,000
Profit and loss account		162,537		( 53,804 )
Total shareholders' funds/(deficit)		212,537		( 3,804)

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.

Director's 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of PG Global Limited (registered number: 11506270) were approved and authorised for issue by the Director on 27 May 2026. They were signed on its behalf by:

James Sammut 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

PG Global 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 Suite 2, 258a High Road, Loughton, IG10 1RB, 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 USD which is the functional currency of the Company and rounded to the nearest $.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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 Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery	4 years straight line
Fixtures and fittings	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.

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 Statement of Income and Retained Earnings .

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	12		13

3. Tangible assets

	Plant and machinery		Fixtures and fittings		Total
	$		$		$
Cost
At 01 January 2025	17,586		4,262		21,848
Additions	4,232		0		4,232
At 31 December 2025	21,818		4,262		26,080
Accumulated depreciation
At 01 January 2025	9,280		1,335		10,615
Charge for the financial year	4,005		852		4,857
At 31 December 2025	13,285		2,187		15,472
Net book value
At 31 December 2025	8,533		2,075		10,608
At 31 December 2024	8,306		2,927		11,233

4. Debtors

	2025		2024
	$		$
Trade debtors	2,326,660		1,197,102
Amounts owed by associates	0		121,877
Amounts owed by connected companies	333,957		0
Amounts owed by director	99		0
Prepayments and accrued income	534,484		121,806
VAT recoverable	0		3,379
Witholding tax	11,052		0
Other debtors	22,860		52,233
	3,229,112		1,496,397

5. Creditors: amounts falling due within one year

	2025		2024
	$		$
Bank loans	80,707		350,812
Trade creditors	226,634		176,693
Amounts owed to Group undertakings	308,476		476,423
Amounts owed to connected persons	28		0
Accruals	437,855		43,988
Taxation and social security	100,473		17,616
Other creditors	1,595,904		503,852
	2,750,077		1,569,384

There are no amounts included above in respect of which any security has been given by the small entity.

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

	2025		2024
	$		$
Bank loans	215,216		0
Amounts owed to Group undertakings	109,900		36,571
	325,116		36,571

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

	2025		2024
	$		$
Allotted, called-up and fully-paid
50,000 Ordinary shares of US $ 1.00 each	50,000		50,000

8. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2025		2024
	$		$
Unpaid contributions due to the fund (inc. in other creditors)	1,692		1,534

9. Related party transactions

Transactions with owners holding a participating interest in the entity

	2025		2024
	$		$
Amounts owed by Group undertakings included in Debtors note 4	333,957		121,877
Amounts owed to related parties included in Creditors note 5	308,476		476,423
Amounts owed to related parties included in Creditors note 6	109,900		36,571

Transactions with the entity's director

	2025		2024
	$		$
Amounts owed by directors shown in Debtors note 4	99		0

Advances were made to the directors during the year totalling $99. The amount owed by the company to the directors at the year end was $99 (2024: $Nil).