1.
General Information
PRM Group Ltd is a private company, limited by shares, registered in Northern Ireland. The registered number of the company is NI601511. The registered office address of the company is Rathdown Road Lissue Industrial Estate, Moira Road, Lisburn, Co. Antrim BT28 2RE. The financial statements have been presented in Pounds Sterling (£) which is also the functional currency of the company.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Basis Of Consolidation
The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 December 2025.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.
Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.
Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.
Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.
Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.
2.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost, or revalued to market value, less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
|
| Plant & Machinery |
|
| Fixtures & Fittings |
|
2.5.
Investment Properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
PRM Group Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.6.
Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. No work-in-progress is reflected in the accounts.
2.7.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.8.
Foreign Currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
2.9.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
2.10.
Pensions
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.
3.
Turnover
Analysis of turnover by geographical market is as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| United Kingdom |
|
|
|
| Europe |
|
|
|
| 68,514,198 | 59,546,594 | ||
4.
Other Operating Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Commission income |
|
|
|
| Other operating income |
|
( |
|
| 762,792 | 629,097 | ||
PRM Group Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
5.
Operating Profit/(loss)
The operating profit/(loss) is stated after charging:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bad debts | 1,140 | (13,458) | |
| Depreciation of tangible fixed assets |
|
|
|
6.
Auditor's Remuneration
Remuneration received by the group's auditors and their associates during the year was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the group and company's financial statements |
|
|
|
| Other Services | |||
| Other non-audit services |
|
|
|
7.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
|
|
|
| Social security costs |
|
|
|
| Other pension costs |
|
|
|
|
|
|
||
8.
Average Number of Employees
Group
Average number of employees, during the year was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| Office and administration |
|
|
|
| Sales, marketing and distribution |
|
|
|
| Management |
|
|
|
|
|
|
||
Company
Average number of employees during the year was: NIL (2024: NIL)
PRM Group Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
9.
Directors' remuneration
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| Company contributions to money purchase pension schemes |
|
|
|
|
|
|
||
The number of directors to whom retirement benefits were accruing was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| Money purchase pension schemes |
|
|
|
10.
Interest Receivable and Similar Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Corporation tax repayment interest | 357 | 1,119 | |
| Other interest receivable | 74,967 | 177,100 | |
| Other tax repayment interest | 17 | - | |
| 75,341 | 178,219 | ||
11.
Interest Payable and Similar Charges
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Other finance charges |
|
|
|
| 116,385 | 118,787 | ||
12.
Tax on Profit
The tax charge on the profit for the year was as follows:
| Tax Rate | 2025 | 2024 | |||
|---|---|---|---|---|---|
| 2025 | 2024 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 25.0% |
|
|
|
| Deferred Tax | |||||
| Deferred taxation |
|
|
|||
| Total tax charge for the period |
|
|
|||
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Profit before tax | 803,656 | 233,043 | |||
| Tax on profit at 25% (UK standard rate) |
|
|
|||
...CONTINUED
PRM Group Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
| Goodwill/depreciation not allowed for tax |
|
|
|||
| Expenses not deductible for tax purposes |
|
|
|||
| Tax losses utilised |
( |
|
|||
| Capital allowances |
( |
( |
|||
| Difference in tax rates |
|
|
|||
| Deferred tax from unrecognised timing difference from a prior period |
( |
|
|||
| Revenue exempt from taxation |
|
( |
|||
| Total tax charge for the period | 205,880 | 18,721 | |||
13.
Individual Income Statement
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.
14.
Tangible Assets
Group
Company
| Land & Property | ||||
|---|---|---|---|---|
| Freehold | Plant & Machinery | Fixtures & Fittings | Total | |
| £ | £ | £ | £ | |
| Cost or Valuation | ||||
| As at 1 January 2025 |
|
|
|
|
| Additions |
|
|
|
|
| Disposals |
|
( |
( |
( |
| As at 31 December 2025 |
|
|
|
|
| Depreciation | ||||
| As at 1 January 2025 |
|
|
|
|
| Provided during the period |
|
|
|
|
| Disposals |
|
( |
( |
( |
| As at 31 December 2025 |
|
|
|
|
| Net Book Value | ||||
| As at 31 December 2025 |
|
|
|
|
| As at 1 January 2025 |
|
|
|
|
Freehold property consists of office space at Rathdown Road, Lissue Industrial Estate, Moira Road, Lisburn, this includes property used by the group and associates. FRS 102 states that depreciation must be charged in respect of freehold property. However, the directors assess that as the property is maintained to a high standard it will not decrease in value, and have therefore opted not to depreciate the property. This policy represents a departure from the requirements of the Companies Act 2006, to provide systematic annual depreciation for fixed assets. However, the directors consider the adoption of this policy necessary to give a true and fair view.
This property was valued at an open market value of £4,345,000 by Harry Crosby (MRICS) of Osborne King acting as independent valuers on behalf of PRM Enterprises Ltd. The valuation indicating the value of the property was given on 12 May 2025. The directors feel, at the balance sheet date, this reflects the fair value of the property.
The company had no tangible fixed assets as at 31 December 2025 or 31 December 2024.
PRM Group Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
15.
Investment Property
Group
Company
| 2025 | |
|---|---|
| £ | |
| Fair Value | |
| As at 1 January 2025 and 31 December 2025 |
|
The company had no investment property as at 31 December 2025 or 31 December 2024.
16.
Investments
Company
| Subsidiaries | |
|---|---|
| £ | |
| Cost or Valuation | |
| As at 1 January 2025 |
|
| As at 31 December 2025 |
|
| Provision | |
| As at 1 January 2025 |
|
| As at 31 December 2025 |
|
| Net Book Value | |
| As at 31 December 2025 |
|
| As at 1 January 2025 |
|
Subsidiaries
Details of the group's subsidiaries as at 31 December 2025 are as follows:
| Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
|---|---|---|---|---|
|
|
Rathdown Road, Lissue Industrial Estate, Moira Road, Lisburn, Co Antrim, BT28 2RE |
|
|
- |
|
|
Rathdown Road, Lissue Industrial Estate, Moira Road, Lisburn, Co Antrim, BT28 2RE. |
|
|
- |
|
|
Rathdown Road, Lissue Industrial Estate, Moira Road, Lisburn, Co Antrim, BT28 2RE. |
|
|
- |
The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:
| Capital and Reserves | Profit/(loss) | |
|---|---|---|
| £ | £ | |
| PRM Distribution Ltd |
|
|
| PRM Enterprises Ltd |
|
|
| PRM Ireland Limited |
|
|
PRM Group Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
17.
Stocks
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Stock |
|
|
|
18.
Debtors
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Due within one year | |||||||
| Trade debtors |
|
|
|
|
|||
| Other debtors | 1,151,176 | 2,368,017 | 704 | 704 | |||
|
|
|
|
|
||||
19.
Creditors: Amounts Falling Due Within One Year
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Trade creditors |
|
|
|
|
|||
| Bank loans and overdrafts |
|
|
|
|
|||
| Other creditors | 568,626 | 508,436 | 31,032 | 31,032 | |||
| Corporation tax |
|
|
|
|
|||
| Taxation and social security | 45,650 | 43,176 | - | - | |||
| Accruals and deferred income | 203,949 | 120,466 | - | - | |||
|
|
|
|
|
||||
Of the creditors the following amounts are secured, and due within one year:
| Group | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| Bank loans and overdrafts | 2,101,401 | 2,476,169 | ||
The Bank holds a legal charge over the site at Lissue Industrial Estate, Rathdown Road, Lisburn and also a legal charge over the property at Unit 4 Glenaden Complex, Altnagelvin Industrial Estate, Londonderry.
20.
Provisions for Liabilities
| Group | ||
|---|---|---|
| Deferred Tax | Total | |
| £ | £ | |
| Deferred taxation |
|
|
| Balance at 31 December 2025 |
|
8,801 |
PRM Group Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
22.
Pension Commitments
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.
During the year the charge to profit or loss in respect of defined contribution schemes was £104,808 (2024: £104,498).
23.
Reserves
|
2025
|
|
|
£
|
|
|
At 1 January 2025
|
12,951,068
|
|
Profit for the year
|
597,776
|
|
Revaluation Reserve
|
-
|
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
|
|
At 31 December 2025
|
13,548,844
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
|
Company
|
|
|
2025
|
|
|
£
|
|
|
At 1 January 2025
|
4,998,960
|
|
Profit/(loss) for the year
|
(29)
|
|
|
|
|
At 31 December 2025
|
4,998,931
|
24.
Related Party Disclosures
During the period to 31 December 2025 PRM Distribution Ltd, PRM Enterprises Ltd and PRM Ireland Ltd had the following transactions with companies which are under the common control of the Directors and shareholders of PRM Group Ltd.
|
Sales to Related Parties
£
|
Purchases from Related Parties
£
|
Other Services from / (to) Related Parties
£
|
Loan Balances owed to / (by) at Year End
£
|
Trade Balances owed to / (by) at Year End
£
|
|
|
Transactions with Other Related Parties
|
1,202,182
|
8,883,313
|
(678,188)
|
-
|
(150,154)
|
25.
Controlling Parties
The ultimate controlling parties are the Directors due to their equity shareholding in the company.