REGISTERED NUMBER: 04477935 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2025

for

PMC Safety Netting Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P Cullen

Miss E L Cullen

Mr M P Cullen

REGISTERED OFFICE:

392 Cromwell Road

Grimsby

DN31 2BN

REGISTERED NUMBER:

04477935 (England and Wales)

ACCOUNTANTS:

Royston Parkin Limited

2 President Buildings

Savile Street East

Sheffield

South Yorkshire

S4 7UQ

FIXED ASSETS

Property, plant and equipment

4

4,776

13,341

CURRENT ASSETS

Inventories

-

670,000

Debtors

5

136,695

568,724

Cash at bank

451

416

137,146

1,239,140

CREDITORS

Amounts falling due within one year

6

702,900

793,746

NET CURRENT (LIABILITIES)/ASSETS

(565,754

)

445,394

TOTAL ASSETS LESS CURRENT LIABILITIES

(560,978

)

458,735

CREDITORS

Amounts falling due after more than one year

7

-

30,475

NET (LIABILITIES)/ASSETS

(560,978

)

428,260

CAPITAL AND RESERVES

Called up share capital

111

111

Retained earnings

(561,089

)

428,149

(560,978

)

428,260

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2026 and were signed on its behalf by:

Miss E L Cullen - Director

1.	STATUTORY INFORMATION

PMC Safety Netting Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company intends to cease trading after the year-end and during the year was in the process of winding down it's trade. The accounts have therefore not been prepared on the going concern basis. Assets and liabilities have been recorded on a basis considered appropriate for the cessation of the company's activities. It is expected that the company will enter liquidation in the near future.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 15% on cost

Stocks

Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 37 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 November 2024

and 31 October 2025

174,250

DEPRECIATION

At 1 November 2024

160,909

Charge for year

8,565

At 31 October 2025

169,474

NET BOOK VALUE

At 31 October 2025

4,776

At 31 October 2024

13,341

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

170,876

Amounts owed by associates

131,560

356,882

Other debtors

5,135

40,966

136,695

568,724

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

30,475

46,438

Trade creditors

32,823

143,145

Amounts owed to associates

140,724

-

Taxation and social security

768

2,535

Other creditors

498,110

601,628

702,900

793,746

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

30,475

8.	RELATED PARTY DISCLOSURES

During the year, PMC Safety Netting Limited received interest free loans of £204,358 of which £31,600 was subsequently repaid, from PMC Construction and Maintenance Limited. The shareholder, Mr Paul Cullen, holds 100% of the shares in both companies. The balance of the payable loan as of 31st October 2025 of £140,724 (2024: debtor of 32,034) is reconciled as follows:

Opening balance 01/11/2024: £32,034

Loan received during year: (£204,358)

Loan repayments during year: £31,600

Closing balance 31/10/2025: (£140,724)

During the year, PMC Safety Netting Limited received loan repayments of £193,108 from PMC Scaffold and Access Ltd. The shareholder, Mr Paul Cullen, holds 100% of the shares in both companies. The balance of the receivable loan as of 31st October 2025 of £131,560 (2024: 324,848) is reconciled as follows:

Opening balance 01/11/2024: £324,848

Amount repaid during year: (£193,288)

Closing balance 31/10/2025: £131,560

9.	POST BALANCE SHEET EVENTS

Following the year-end, Mr Paul Cullen, a director and majority shareholder, passed away. The directors have considered the impact of this event and concluded that no adjustment to the financial statements is required.

10.	RECLASSIFICATION OF COMPARATIVE BALANCES

In the year ended 31st October 2024, connected party balances with PMC Construction and Maintenance Ltd were included within both debtors and creditors separately. In the current year to 31st October 2025 these have been presented in a dedicated connected party account. The balances as of 31st October 2024 have been reclassified resulting in the following changes to the comparative information:

Connected party balance within debtors:

PMC Construction and Maintenance Limited debtor: £221,004

PMC Construction and Maintenance Limited creditor: (£188,970)

Balance due to PMC Safety Netting Limited: £32,034

Debtors within current assets:

Balance per accounts as of 31/10/2024 £757,694

Amounts reclassified from creditors in comparative (£188,970)

Debtors within current assets comparative £568,724

Creditors within current liabilities:

Balance per accounts as of 31/10/2024 (£982,716)

Amounts reclassified from creditors in comparative £188,970

Creditors within current liabilities comparative (£793,746)