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REGISTERED NUMBER: 06112874 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

PCICASE UK Limited

PCICASE UK Limited (Registered number: 06112874)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PCICASE UK Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: I Huang





REGISTERED OFFICE: Unit 24
Tanners Drive
Blakelands
Milton Keynes
Buckinghamshire
MK14 5BW





REGISTERED NUMBER: 06112874 (England and Wales)





ACCOUNTANTS: Thompsons Accountancy Services Limited
Chartered Accountants
Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ

PCICASE UK Limited (Registered number: 06112874)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 6,460 5,809
6,460 5,809

CURRENT ASSETS
Stocks 7 422,681 235,815
Debtors 8 349,150 486,232
Cash at bank and in hand 21,988 35,530
793,819 757,577
CREDITORS
Amounts falling due within one year 9 976,052 965,126
NET CURRENT LIABILITIES (182,233 ) (207,549 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(175,773

)

(201,740

)

CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 203,754 203,754
Retained earnings (379,727 ) (405,694 )
SHAREHOLDERS' FUNDS (175,773 ) (201,740 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PCICASE UK Limited (Registered number: 06112874)

Statement of Financial Position - continued
31 March 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 October 2023 and were signed by:





I Huang - Director


PCICASE UK Limited (Registered number: 06112874)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

PCICASE UK 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

At the balance sheet date, the company's current liabilities exceed its current assets by £xxx,xxx and the company is dependent upon the continuing financial support of its major supplier. The financial statements have been prepared on a going concern basis as the director has arranged continuing extended credit terms with that supplier. The director is satisfied that this source of finance will ensure that the company will continue as a going concern for the foreseeable future.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Intangible fixed assets
Intangible fixed assets comprise of a customer database licence, which is being amortised at 50% per annum on cost in order to write off the asset over its estimated useful life.

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 - 20% on cost
Computer equipment - 20% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


PCICASE UK Limited (Registered number: 06112874)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

5. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 April 2022
and 31 March 2023 37,455
AMORTISATION
At 1 April 2022
and 31 March 2023 37,455
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

PCICASE UK Limited (Registered number: 06112874)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 April 2022 27,828 40,418 68,246
Additions - 2,561 2,561
At 31 March 2023 27,828 42,979 70,807
DEPRECIATION
At 1 April 2022 27,779 34,658 62,437
Charge for year 43 1,867 1,910
At 31 March 2023 27,822 36,525 64,347
NET BOOK VALUE
At 31 March 2023 6 6,454 6,460
At 31 March 2022 49 5,760 5,809

7. STOCKS
31.3.23 31.3.22
£    £   
Stocks 422,681 235,815

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 132,361 274,972
Other debtors 40,196 33,043
Directors' current accounts 139,555 127,564
Tax 21,377 21,377
Prepayments 15,661 29,276
349,150 486,232

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other loan 80,000 80,000
Trade creditors 778,731 804,561
VAT 4,482 16,560
Other creditors 55,618 7,114
Accrued expenses 57,221 56,891
976,052 965,126

10. OTHER FINANCIAL COMMITMENTS

The company's landlord holds a first legal charge over the company's rental deposit account as security for amounts payable under the terms of the company's lease.

The company has total commitments at the balance sheet date of £30,310 (2022 - 82,270).

PCICASE UK Limited (Registered number: 06112874)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the beginning of the year, a director owed the company £127,564, During the year £16,991 advances were made and £5,000 repaid leaving a closing balance of £139,555. This loan is repayable on demand and no interest is charged. There exists a formal right of set off in creditors of £80,000 against this balance.