Company Registration No. 15101844 (England and Wales)
PNDS Medical Ltd
Unaudited accounts
for the year ended 31 August 2025
PNDS Medical Ltd
Unaudited accounts
Contents
PNDS Medical Ltd
Company Information
for the year ended 31 August 2025
Directors
E Bernabei
E T W Hutley
J Marshall
H K Tayton-Martin
D S Hope
J B Wybrew
Company Number
15101844 (England and Wales)
Registered Office
2a Connaught Avenue
London
E4 7AA
England
Accountants
Altitude Accounting Limited
First Floor
129 High Street
Guildford
Surrey
GU1 3AA
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of PNDS Medical Ltd for the year ended 31 August 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
PNDS Medical Ltd for the year ended
31 August 2025 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of PNDS Medical Ltd, as a body, in accordance with the terms of our engagement letter dated 14 March 2025. Our work has been undertaken solely to prepare for your approval the accounts of PNDS Medical Ltd and state those matters that we have agreed to state to the Board of Directors of PNDS Medical Ltd, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PNDS Medical Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that PNDS Medical Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of PNDS Medical Ltd. You consider that PNDS Medical Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of PNDS Medical Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Altitude Accounting Limited
Chartered Accountants
First Floor
129 High Street
Guildford
Surrey
GU1 3AA
29 May 2026
PNDS Medical Ltd
Statement of financial position
as at 31 August 2025
Cash at bank and in hand
21,805
66,727
Creditors: amounts falling due within one year
(208,299)
(10,903)
Net current (liabilities)/assets
(139,786)
187,320
Net (liabilities)/assets
(139,786)
187,320
Called up share capital
1,864
1,785
Share premium
751,895
514,260
Profit and loss account
(893,545)
(328,725)
Shareholders' funds
(139,786)
187,320
For the year ending 31 August 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 directors acknowledge their 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 of Directors and authorised for issue on 29 May 2026 and were signed on its behalf by
D S Hope
Director
Company Registration No. 15101844
PNDS Medical Ltd
Notes to the Accounts
for the year ended 31 August 2025
PNDS Medical Ltd is a private company, limited by shares, registered in England and Wales, registration number 15101844. The registered office is 2a Connaught Avenue, London, E4 7AA, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
PNDS Medical Ltd
Notes to the Accounts
for the year ended 31 August 2025
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting polices. In preparing these financial statements, the directors have not had to make any judgements.
Other key sources of estimation uncertainty:
Deferred tax asset (note 6)
Management estimation is required to determine the amount of deferred tax asset that can be recognised based upon likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies.
Amounts falling due within one year
Deferred tax asset
-
107,310
Accrued income and prepayments
556
267
Other debtors
40,001
20,000
5
Creditors: amounts falling due within one year
2025
2024
Trade creditors
51,946
3,243
Loans from directors
453
279
6
Deferred taxation
2025
2024
Tax losses carried forward
-
(107,310)
Provision at start of year
(107,310)
-
Charged/(credited) to the profit and loss account
107,310
(107,310)
Provision at end of year
-
(107,310)
The company has trading losses carried forward which will be used against any future trading profits of the company to reduce future tax charges. At the year end the company has an unrecognised deferred tax asset of £288,777 calculated at a rate of 25% (2024: 25%) which is an estimate of the rate anticipated to be applicable at the time the tax losses are expected to be utilised.
PNDS Medical Ltd
Notes to the Accounts
for the year ended 31 August 2025
7
Average number of employees
During the year the average number of employees was 2 (2024: 2).