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REGISTERED NUMBER: 03207883 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

SILVACO EUROPE LTD

SILVACO EUROPE LTD (REGISTERED NUMBER: 03207883)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SILVACO EUROPE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: I I Pesic
C G Marnoch





REGISTERED OFFICE: Silvaco Technology Centre
Compass Point
St Ives
Cambridgeshire
PE27 5JL





REGISTERED NUMBER: 03207883 (England and Wales)





AUDITORS: Prentis & Co LLP
Chartered Accountants & Statutory Auditors
115c Milton Road
Cambridge
CB4 1XE

SILVACO EUROPE LTD (REGISTERED NUMBER: 03207883)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,296 17,548

CURRENT ASSETS
Debtors 5 3,005,722 2,788,211
Cash at bank 420,434 104,110
3,426,156 2,892,321
CREDITORS
Amounts falling due within one year 6 1,707,325 1,469,288
NET CURRENT ASSETS 1,718,831 1,423,033
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,743,127

1,440,581

CAPITAL AND RESERVES
Called up share capital 54,600 54,600
Retained earnings 1,688,527 1,385,981
SHAREHOLDERS' FUNDS 1,743,127 1,440,581

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2022 and were signed on its behalf by:





C G Marnoch - Director


SILVACO EUROPE LTD (REGISTERED NUMBER: 03207883)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

Silvaco Europe Ltd 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover 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.
Fixtures, fittings & equipment - 20% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
A potential deferred tax liability of £4,324 (2020 £2,978) exists. However, this has not been recognised in the financial statements on the basis that any liability arising would be offset against, in year, Research and Development expenditure claims.

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.

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.

Deferred income
Income relating to maintenance contracts and software leasing is apportioned to the profit and loss account according to the period which it relates.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2020 - 27 ) .

SILVACO EUROPE LTD (REGISTERED NUMBER: 03207883)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings Computer
& equipment equipment Totals
£    £    £   
COST
At 1 January 2021 36,131 134,008 170,139
Additions - 19,296 19,296
Disposals (556 ) - (556 )
At 31 December 2021 35,575 153,304 188,879
DEPRECIATION
At 1 January 2021 30,003 122,588 152,591
Charge for year 1,967 10,581 12,548
Eliminated on disposal (556 ) - (556 )
At 31 December 2021 31,414 133,169 164,583
NET BOOK VALUE
At 31 December 2021 4,161 20,135 24,296
At 31 December 2020 6,128 11,420 17,548

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 735,209 842,406
Amounts owed by group undertakings 1,053,851 273,616
Other debtors 1,216,662 1,672,189
3,005,722 2,788,211

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 5,549 16,119
Taxation and social security 91,203 95,544
Other creditors 1,610,573 1,357,625
1,707,325 1,469,288

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nigel Prentis FCA (Senior Statutory Auditor)
for and on behalf of Prentis & Co LLP

SILVACO EUROPE LTD (REGISTERED NUMBER: 03207883)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

8. OTHER FINANCIAL COMMITMENTS

The company has non-cancellable operating lease commitments as follows:
20212020
Land and Buildings£   £   

Expiry Date:
Between five and ten years1,232,0001,386,000


9. RELATED PARTY DISCLOSURES

During the year the company received £1,741,036 (2020 - £1,780,475) in respect of research and support services from Silvaco Inc., a company related by way of being under common control. The company paid Silvaco Inc. £1,551,750 (2020 - £1,554,332) for costs of goods sold. At the balance sheet date the company was owed £545,293 by Silvaco Inc., in relation to amounts invoiced.

In addition to the above, during the year, the company made three separate short term loans to Silvaco Inc. totalling £500,000. Interest of £8,559 was charged, taking the amount owed in relation to the loans to £508,559 at 31st December 2021.

During the year the company was charged £154,000 (2020 - £154,000) in relation to rental of the company office building by New Horizons (Cambridge) Limited, a company related by way of being under common control. No amounts were outstanding at 31st December 2021.

10. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

11. ULTIMATE PARENT COMPANY

The ultimate parent company throughout the years ended 31st December 2021 and 31st December 2020 was
Silvaco Group Inc., which is registered in the United States of America.

The ultimate controlling party of Silvaco Group Inc. is Katherine Ngai-Pesic.