PDEL Limited iXBRL

Company Registration Number: NI622116

PDEL Limited

Unaudited Financial Statements

for the financial year ended 31 March 2026

PDEL Limited

DIRECTOR AND OTHER INFORMATION


Director	Paul Doran


Company Registration Number	NI622116


Registered Office	12 Carnmoney Road
	Newtownabbey
	Antrim
	BT36 6HN
	Northern Ireland


Accountants	Quarter
	Chartered Accountants
	St Anne's House
	15 Church Street
	Cathedral Quarter
	Belfast
	BT1 1PG


Bankers	Barclays Bank PLC
	17 Castle Place
	Belfast
	BT1 1EL
	Northern Ireland

PDEL Limited

CHARTERED ACCOUNTANTS REPORT

to the Director on the Compilation of the unaudited financial statements of PDEL Limited

for the financial year ended 31 March 2026

In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 March 2026 as set out on pages to which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.

This report is made solely to the director of PDEL Limited, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Director that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its director for our work or for this report.

We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.

You have acknowledged on the Statement of Financial Position for the year ended 31 March 2026 your duty to ensure that PDEL Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of PDEL Limited. You consider that PDEL Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of PDEL Limited. For this reason, we have not verified the adequacy, 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 financial statements.

__________________________________

QUARTER

Chartered Accountants

St Anne's House

15 Church Street

Cathedral Quarter

Belfast

BT1 1PG

19 August 2026

PDEL Limited

Company Registration Number: NI622116

STATEMENT OF FINANCIAL POSITION

as at 31 March 2026

		2026	2025
	Notes	£	£

Non-Current Assets

Property, plant and equipment

26,200

29,146

Financial assets

716,429

799,947

─────────

Non-Current Assets

742,629

829,093

─────────

Current Assets

Inventories

54,842

49,260

Receivables

102,628

79,142

Cash and cash equivalents

15,305

85,208

Client bank balances

34,414

31,620

─────────

207,189

245,230

─────────

Payables: amounts falling due within one year

(83,532)

(96,129)

─────────

Net Current Assets

123,657

149,101

─────────

Total Assets less Current Liabilities

866,286

978,194

Payables:

amounts falling due after more than one year

(689)

Provisions for liabilities

(4,888)

(2,577)

─────────

Net Assets

861,398

974,928

═════════

Equity

Called up share capital

Retained earnings

861,397

974,927

─────────

Equity attributable to owners of the company

861,398

974,928

═════════

The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Approved by the Director and authorised for issue on 19 August 2026




________________________________
Paul Doran
Director

PDEL Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 March 2026

General Information

PDEL Limited is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 12 Carnmoney Road, Newtownabbey, Antrim, BT36 6HN, Northern Ireland which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the year ended 31 March 2026 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Revenue

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Property, plant and equipment and depreciation

Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Short leasehold property

10% Reducing Balance

Fixtures, fittings and equipment

20% Reducing Balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Financial assets

Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Income Statement in the year in which it is receivable.

Work in progress

Work in progress is reflected in the accounts at the expected revenue due for work carried out during the period that has not yet been invoiced.

Trade and other receivables

Trade and other receivables 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.

Borrowing costs

Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

Trade and other payables

Trade and other payables 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.

Employee benefits

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.

Ordinary share capital

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

Employees

The average monthly number of employees, including director, during the financial year was 13, (2025 - 12).

2026

2025

Number

Number

No of Employees

═════════


4.	Property, plant and equipment
		Short	Fixtures,	Total
		leasehold	fittings and
		property	equipment
		£	£	£
	Cost
	At 1 April 2025	31,686	27,194	58,880
	Additions	-	1,150	1,150
		─────────	─────────	─────────
	At 31 March 2026	31,686	28,344	60,030
		─────────	─────────	─────────
	Depreciation
	At 1 April 2025	12,845	16,889	29,734
	Charge for the financial year	1,884	2,212	4,096
		─────────	─────────	─────────
	At 31 March 2026	14,729	19,101	33,830
		─────────	─────────	─────────
	Carrying amount
	At 31 March 2026	16,957	9,243	26,200
		═════════	═════════	═════════
	At 31 March 2025	18,841	10,305	29,146
		═════════	═════════	═════════


5.	Financial fixed assets
		Other
		investments

	Investments	£
	Cost or Valuation
	At 1 April 2025	799,947
	Additions	(100,626)
	Revaluations	17,108
		─────────
	At 31 March 2026	716,429
		─────────
	Carrying amount
	At 31 March 2026	716,429
		═════════
	At 31 March 2025	799,947
		═════════


6.	Inventories	2026	2025
		£	£

	Work in progress	54,842	49,260
		═════════	═════════


7.	Receivables	2026	2025
		£	£

	Trade receivables	82,970	72,334
	Other debtors	6,948	4,009
	Director's current account (Note 14)	10,657	-
	Prepayments and accrued income	2,053	2,799
		─────────	─────────
		102,628	79,142
		═════════	═════════


8.	Payables	2026	2025
	Amounts falling due within one year	£	£

	Bank loan	1,667	10,978
	Client creditor balances	34,414	31,620
	Trade payables	3,674	9,479
	Taxation (Note 10)	38,865	39,132
	Director's current account	-	25
	Other creditors	2,412	2,395
	Accruals	2,500	2,500
		─────────	─────────
		83,532	96,129
		═════════	═════════


9.	Payables	2026	2025
	Amounts falling due after more than one year	£	£

	Bank loan	-	689
		═════════	═════════

	Loans
	Repayable in one year or less, or on demand (Note 8)	1,667	10,978
	Repayable between one and two years	-	689
		─────────	─────────
		1,667	11,667
		═════════	═════════


10.	Taxation	2026	2025
		£	£

	Payables:
	VAT	35,199	34,167
	PAYE / NI	3,666	4,965
		─────────	─────────
		38,865	39,132
		═════════	═════════

11.

Provisions for liabilities

The amounts provided for deferred taxation are analysed below:

Capital

Total

Total

allowances

2026

2025

At financial year start

2,577

2,577

1,894

Charged to profit and loss

2,311

2,311

683

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At financial year end

4,888

2,577

═════════

12.

Capital commitments

The company had no material capital commitments at the financial year-ended 31 March 2026.

13.

Related party transactions

Midmar LLP

PDEL Limited is a member of Midmar LLP.

As at 1 April 2025 PDEL Limited, by way of capital account, had invested £460,325 in Midmar LLP. During the financial year PDEL Ltd made net transactions totalling £70,626 to or on behalf of Midmar LLP, which includes a loss share of £16,227 from Midmar LLP. As at 31 March 2026 PDEL Limited had invested, by way of capital account, £389,699 in Midmar LLP.

During the year ended 31 March 2026, Midmar LLP charged PDEL Ltd £50,000, exclusive of VAT, which was paid during the year.

14.

Director's advances, credits and guarantees

As at 01 April 2025 the company owed the director £25. During the year, transactions of £10,682 were paid to the director. As at 31 March 2026, the director owed PDEL Limited an amount of £10,657. This will be repaid to PDEL Limited within 9 months of the year end.

15.

Events After the End of the Reporting Period

There have been no significant events affecting the company since the financial year-end.