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REGISTERED NUMBER: 07306969 (England and Wales)









CTS EUROPE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






CTS EUROPE LIMITED (REGISTERED NUMBER: 07306969)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CTS EUROPE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: S P Codling





SECRETARY: MC Secretaries Limited





REGISTERED OFFICE: Station House
North Street
Havant
Hampshire
PO9 1QU





REGISTERED NUMBER: 07306969 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

CTS EUROPE LIMITED (REGISTERED NUMBER: 07306969)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 25,509 30,763
Tangible assets 5 60,758 99,931
Investments 6 1,000 1,000
87,267 131,694

CURRENT ASSETS
Stocks 613,718 272,928
Debtors 7 994,944 1,216,096
Investments 8 62,742 59,214
Cash at bank and in hand 165,104 224,932
1,836,508 1,773,170
CREDITORS
Amounts falling due within one year 9 966,819 878,987
NET CURRENT ASSETS 869,689 894,183
TOTAL ASSETS LESS CURRENT
LIABILITIES

956,956

1,025,877

CREDITORS
Amounts falling due after more than one
year

10

(158,878

)

(223,954

)

PROVISIONS FOR LIABILITIES (4,015 ) (7,973 )
NET ASSETS 794,063 793,950

CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings 793,963 793,850
SHAREHOLDERS' FUNDS 794,063 793,950

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

CTS EUROPE LIMITED (REGISTERED NUMBER: 07306969)

BALANCE SHEET - continued
31 JULY 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 November 2023 and were signed by:





S P Codling - Director


CTS EUROPE LIMITED (REGISTERED NUMBER: 07306969)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

CTS Europe 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
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net sales of the design, installation and manufacture of scientific containers for the period, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

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 ten years.

Website design and development are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 2% on cost
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% 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.

Financial instruments
Debtors and cash at bank: Trade and other debtors are recognised at the settlement amount due after any trade discount offered. prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash on deposit or in a current account.

Creditors and provisions: Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of economic benefits to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.


CTS EUROPE LIMITED (REGISTERED NUMBER: 07306969)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued
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 at the balance sheet date, except as otherwise required in the paragraphs below.

Unrelieved 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.

Deferred tax shall not be recognised on permanent differences, other than a business combination where assets (other than goodwill) give rise to an deferred tax asset or liability.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Exemption from consolidation
The company has taken advantage of the Companies Act exemption for small groups from preparing consolidated accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 32 ) .

CTS EUROPE LIMITED (REGISTERED NUMBER: 07306969)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. INTANGIBLE FIXED ASSETS
Website
Patents design
and and
Goodwill licences development Totals
£    £    £    £   
COST
At 1 August 2022
and 31 July 2023 50,000 14,545 4,210 68,755
AMORTISATION
At 1 August 2022 20,000 13,782 4,210 37,992
Amortisation for year 5,000 254 - 5,254
At 31 July 2023 25,000 14,036 4,210 43,246
NET BOOK VALUE
At 31 July 2023 25,000 509 - 25,509
At 31 July 2022 30,000 763 - 30,763

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 1,910 120,527 181,152 63,046 366,635
Additions - - - 1,717 1,717
At 31 July 2023 1,910 120,527 181,152 64,763 368,352
DEPRECIATION
At 1 August 2022 267 91,690 117,946 56,801 266,704
Charge for year 39 10,884 24,477 5,490 40,890
At 31 July 2023 306 102,574 142,423 62,291 307,594
NET BOOK VALUE
At 31 July 2023 1,604 17,953 38,729 2,472 60,758
At 31 July 2022 1,643 28,837 63,206 6,245 99,931

CTS EUROPE LIMITED (REGISTERED NUMBER: 07306969)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2022
and 31 July 2023 89,163
DEPRECIATION
At 1 August 2022 31,207
Charge for year 22,290
At 31 July 2023 53,497
NET BOOK VALUE
At 31 July 2023 35,666
At 31 July 2022 57,956

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 August 2022
and 31 July 2023 1,000
NET BOOK VALUE
At 31 July 2023 1,000
At 31 July 2022 1,000

Cost or valuation at 31 July 2023 is represented by:

Other
investments
£   
Cost 1,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 895,976 1,160,142
Other debtors 98,968 55,954
994,944 1,216,096

8. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 62,742 59,214

CTS EUROPE LIMITED (REGISTERED NUMBER: 07306969)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,000 126,859
Hire purchase contracts (see note 11) 15,076 13,641
Trade creditors 671,372 634,501
Amounts owed to group undertakings 4,410 7,698
Taxation and social security 163,238 4,571
Other creditors 62,723 91,717
966,819 878,987

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 112,500 162,500
Hire purchase contracts (see note 11) 46,378 61,454
158,878 223,954

11. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Gross obligations repayable:
Within one year 18,428 18,428
Between one and five years 48,489 66,917
66,917 85,345

Finance charges repayable:
Within one year 3,352 4,787
Between one and five years 2,111 5,463
5,463 10,250

Net obligations repayable:
Within one year 15,076 13,641
Between one and five years 46,378 61,454
61,454 75,095

12. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 61,454 75,095

CTS EUROPE LIMITED (REGISTERED NUMBER: 07306969)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
75 Ordinary A £1 75 75
25 Ordinary B £1 25 25
100 100

14. PARENT AND ULTIMATE CONTROLLING PARTY

The parent company is Scideas Limited registered in England and Wales.

The registered office address is Station House, North Street, Havant, Hampshire, PO9 1QU.

The principal place of business is Unit 14 Ordnance Court, Ackworth Road, Portsmouth, Hampshire, PO3 5RZ.

Mr and Mrs S Codling are the company's controlling related parties by virture of their 75% holding of the shares in the parent company, Scideas Limited.