PAV I.T. SERVICES LIMITED

 

 

 

 

UNAUDITED Financial Statements

 

31 March 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company Registration No. 02314882

PAV I.T. SERVICES LIMITED

 

UNAUDITED FINANCIAL STATEMENTS 2026

 

CONTENTS

Page

 

 

Company information

1

 

 

Statement of financial position

2

 

 

Notes to the financial statements

3-5

 

PAV I.T. SERVICES LIMITED

 

UNAUDITED FINANCIAL STATEMENTS 2026

 

COMPANY INFORMATION

 

DIRECTORS

 

C MacKay (appointed 26 May 2026)

R Last

S Cunningham (resigned 26 June 2026)

M Waymark (appointed 14 September 2026)

 

REGISTERED OFFICE

 

3rd Floor

11-21 Paul Street

London

EC2A 4JU

PAV I.T. SERVICES LIMITED

 

STATEMENT OF FINANCIAL POSITION

As at 31 March 2026

 

 

 

As at 31

March 2026 (Unaudited)

As at 31

March 2025 (Unaudited)

 

Note

£

£

 

 

 

 

Current assets

 

 

 

Debtors

3

57,50257,502

 

 

 

 

Net Assets

 

57,50257,502

 

 

 

 

Capital and reserves

 

 

 

Called up share capital

4

57,50257,502

 

 

 

 

Shareholders' funds

 

57,50257,502

 

For the year ended 31 March 2026, the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies. The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The directors confirm that:

 

•

the company is exempt from the requirements of the Companies Act 2006 relating to the audit of individual accounts by virtue of section 479A;

•

the members have not required the company to obtain an audit of its accounts for the year ended 31 March 2026 in accordance with section 476;

•

the Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the financial statements;

•

these financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006;

•

the company is included in the consolidated financial statements of Iomart Group plc; and

•

Iomart Group plc has provided the guarantee required by section 479C of the Companies Act 2006.

 

These financial statements were approved by the Board of Directors and authorised for issue on 9 October and are signed on their behalf by:

 

 

 

 

M Waymark

Director

 

Company number: 02314882

 

The notes on pages 3 to 5 are an integral part of these financial statements.

PAV I.T. SERVICES LIMITED

 

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2026

 

1.     COMPANY INFORMATION

 

PAV I.T. Services Limited is a private limited company, limited by shares, incorporated and domiciled in the United Kingdom and registered in England and Wales under the Companies Act 2006. The nature of the Company's operations and its principal activity is that of a reseller of IT hardware, software and services.

 

On 24 September 2024, the Company's trade and assets were transferred to a fellow subsidiary undertaking of Iomart Group plc, Iomart Managed Services Limited. Following the transfer, the company is non-trading and expected to become dormant in the future.

 

Basis of preparation

 

These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006 and in compliance with FRS 102 Section 1A - Small Entities. There were no material departures from that standard.

 

The financial statements have been prepared on a historical cost basis. The financial statements have not been prepared on a going concern basis because the company transferred its trade, assets and liabilities to Iomart Managed Services Limited on 24 September 2024 and has ceased trading. The directors consider that the carrying values of the company's assets and liabilities are not materially different from the amounts expected to be realised and settled and, therefore, no material adjustments have been required as a result of preparing the financial statements on a basis other than going concern. The financial statements are presented in Sterling (£), which is the company's functional and presentational currency.

 

Statement of compliance

 

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.

 

Future developments in financial reporting

 

Amendments to FRS 102 arising from the Periodic Review 2024 are effective for accounting periods beginning on or after 1 January 2026. The company will adopt these amendments in its financial statements for the year ending 31 March 2027.

 

2.     ACCOUNTING POLICIES

 

Going concern

 

On 24 September 2024, the Company transferred its trade, assets and liabilities into Iomart Managed Services Limited, a fellow subsidiary undertaking of Iomart Group plc. Whilst there are some residual balances in the financial statements, the company has ceased trading and is expected to become dormant in the future. The Directors have therefore prepared the financial statements on a basis other than going concern. No material adjustments arose as a result of ceasing to apply the going concern basis of accounting.

 

PAV I.T. SERVICES LIMITED

 

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2026

 

Capital and reserves

 

Shares are classified as equity instruments when there is no obligation to transfer assets. Equity instruments are any contract that evidences a residual interest in assets of the company, after deducting liabilities. The nominal value of shares issued is recorded in share capital.

 

Key judgements and sources of estimation uncertainty

 

There are not considered to be any key assumptions, or levels of estimation uncertainty, which could have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the current or next financial year.

 

Basic Financial Instruments

 

Basic financial assets, including debtors and amounts owed by group undertakings, are initially recognised at transaction price and subsequently measured at amortised cost.

 

Employees

 

The average monthly number of employees during the year was nil (2025: nil).

 

Profit and loss account

 

The balance on the profit and loss account at 31 March 2026 was nil (2025: nil). The company has ceased trading activities and is expected to become dormant in the future.

 

3.     DEBTORS

 

 

As at 31

March 2026 (Unaudited)

As at 31

March 2025 (Unaudited)

 

£

£

 

 

 

Amounts falling due within one year

 

 

Amounts owed by group undertakings

57,50257,502

 

 

 

 

57,50257,502

 

The Directors consider that the carrying amount of trade and other debtors is approximately equal to fair value.

 

Amounts owed by group undertakings are non-interest bearing.

PAV I.T. SERVICES LIMITED

 

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2026

 

4.     CALLED UP SHARE CAPITAL

 

 

As at

31 March 2026 (Unaudited)

As at

31 March 2025 (Unaudited)

 

£

£

 

 

 

Authorised, allotted, called up and fully paid:

 

 

5,000 Ordinary ‘A' shares of £0.50 each

2,5002,500

63,160 Ordinary ‘B' shares of £0.50 each

31,58031,580

31,580 Ordinary ‘C' shares of £0.50 each

15,79015,790

5,265 Ordinary ‘D' shares of £0.50 each

2,6322,632

10,000 Ordinary ‘E' shares of £0.50 each

5,0005,000

 

 

 

 

57,50257,502

 

5.     ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

 

The ultimate parent company and controlling party is Iomart Group plc (registered number SC204560), a company incorporated in Scotland. Consolidated financial statements including PAV I.T. Services Limited are available from Iomart Group plc, 6 Atlantic Quay, 55 Robertson Street, Glasgow, Scotland, G2 8JD.

 

The company is a wholly owned subsidiary of Iomart Group plc. The consolidated financial statements of Iomart Group plc represent the smallest and largest group of undertakings for which group financial statements are prepared and of which the company is a member.