REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
SILVACO EUROPE LTD |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Fixtures, fittings & equipment | - |
Computer equipment | - |
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 |
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 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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: |
2021 | 2020 |
Land and Buildings | £ | £ |
Expiry Date: |
Between five and ten years | 1,232,000 | 1,386,000 |
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 |
The ultimate controlling party of Silvaco Group Inc. is Katherine Ngai-Pesic. |