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REGISTERED NUMBER: 01108860 (England and Wales)















Audited Financial Statements for the Year Ended 30 June 2023

for

C. C. Hydrosonics Limited

C. C. Hydrosonics Limited (Registered number: 01108860)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


C. C. Hydrosonics Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: L Casey
S A Hassan
D Casey
B D Kivisto





SECRETARY: L Casey





REGISTERED OFFICE: 147a High Street
Waltham Cross
Hertfordshire
EN8 7AP





REGISTERED NUMBER: 01108860 (England and Wales)





AUDITORS: Thickbroom Coventry
Chartered Accountants
and Statutory Auditors
147a High Street
Waltham Cross
Hertfordshire
EN8 7AP

C. C. Hydrosonics Limited (Registered number: 01108860)

Statement of Financial Position
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 90,900 106,697

CURRENT ASSETS
Stocks 1,709,030 1,325,189
Debtors 6 1,767,626 2,014,746
Cash at bank and in hand 528,294 725,198
4,004,950 4,065,133
CREDITORS
Amounts falling due within one year 7 1,874,845 2,149,264
NET CURRENT ASSETS 2,130,105 1,915,869
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,221,005

2,022,566

PROVISIONS FOR LIABILITIES 21,115 18,970
NET ASSETS 2,199,890 2,003,596

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 2,199,790 2,003,496
SHAREHOLDERS' FUNDS 2,199,890 2,003,596

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 Board of Directors and authorised for issue on 3 November 2023 and were signed on its behalf by:





D Casey - Director


C. C. Hydrosonics Limited (Registered number: 01108860)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

C. C. Hydrosonics 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 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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

C. C. Hydrosonics Limited (Registered number: 01108860)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 20 ) .

4. AUDITORS' REMUNERATION
2023 2022
£    £   
Fees payable to the company's auditors for the audit of the
company's financial statements

12,500

12,000

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2022 205,195 100,104 305,299
Additions 10,838 - 10,838
At 30 June 2023 216,033 100,104 316,137
DEPRECIATION
At 1 July 2022 157,409 41,193 198,602
Charge for year 8,486 18,149 26,635
At 30 June 2023 165,895 59,342 225,237
NET BOOK VALUE
At 30 June 2023 50,138 40,762 90,900
At 30 June 2022 47,786 58,911 106,697

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 703,018 849,889
Amounts owed by group undertakings 912,219 1,104,337
Other debtors 152,389 60,520
1,767,626 2,014,746

C. C. Hydrosonics Limited (Registered number: 01108860)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8)
-

1,444
Trade creditors 139,505 172,860
Amounts owed to group undertakings 352,834 833,600
Taxation and social security 85,012 99,692
Other creditors 1,297,494 1,041,668
1,874,845 2,149,264

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Gross obligations repayable:
Within one year - 1,802

Finance charges repayable:
Within one year - 358

Net obligations repayable:
Within one year - 1,444

Non-cancellable operating leases
2023 2022
£    £   
Within one year 112,403 103,403
Between one and five years - 103,403
112,403 206,806

9. CALLED UP SHARE CAPITAL

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

C. C. Hydrosonics Limited (Registered number: 01108860)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

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

The Auditors' Report was unqualified.

Iain McMurray ACA (Senior Statutory Auditor)
for and on behalf of Thickbroom Coventry

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
L Casey
Balance outstanding at start of year 4,705 2,945
Amounts advanced 33,855 14,413
Amounts repaid (23,264 ) (12,653 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,296 4,705

D Casey
Balance outstanding at start of year 5,593 6,006
Amounts advanced 3,239 5,599
Amounts repaid (8,832 ) (6,012 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 5,593

D Casey
Balance outstanding at start of year - -
Amounts advanced 2,304 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,304 -

C. C. Hydrosonics Limited (Registered number: 01108860)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

12. RELATED PARTY DISCLOSURES

All of the following companies are related by the fact that they are ultimately controlled by Crestek Inc, USA. Transactions with group companies are undertaken on normal commercial terms.

Financial information on transactions and balances between related parties are as follows:

Advanced Ceramic Technologies (Malaysia)
CC Hydrosonics Limited purchased £510,743 (2022: £384,749) of goods and services from Advanced Ceramic Technologies (Malaysia) during the year. Amounts due to Advanced Ceramic Technologies (Malaysia) at the end of the year amounted to £326,716 (2022: £260,474).

Advanced Ceramic Technologies (Malaysia) purchased £42,403 (2022: £50,629) of goods and services from CC Hydrosonics Limited during the year. Amounts due to CC Hydrosonics Limited at the end of the year amounted to £86,098 (2022: £61,738).

Crest Ultrasonics Corporation (USA)
CC Hydrosonics Limited purchased £13,275 (2022: £5,519) of goods and services from Crest Ultrasonics Corporation during the year. Amounts due to Crest Ultrasonics Corporation at the end of the year amounted to £16,722 (2022: £502,344).

Crest Ultrasonics Corporation purchased £357,945 (2022: £108,151) of goods and services from CC Hydrosonics Limited during the year. Amounts due to CC Hydrosonics Limited at the end of the year amounted to £719,503 (2022: £965,635).

Crest Ultrasonics Europe Limited
CC Hydrosonics Limited purchased £364 (2022: £68,200) of goods and services from Crest Ultrasonics Europe Limited during the year. Amounts due to Crest Ultrasonics Europe Limited at the end of the year amounted to £Nil (2022: £1,435).

Crest Ultrasonics Europe Limited purchased £Nil (2022: £9,642) of goods and services from CC Hydrosonics Limited during the year. Amounts due to CC Hydrosonics Limited at the end of the year amounted to £Nil (2022: £3,680).

Megasonic Sweeping (Malaysia) Sdn
Megasonic Sweeping (Malaysia) Sdn purchased £Nil (2022: £2,584) of goods and services from CC Hydrosonics Limited during the year. Amounts due to CC Hydrosonics Limited at the end of the year amounted to £Nil (2022: £Nil).

CC Hydrosonics Limited purchased £12,321 (2022: £23,252) of goods and services from Megasonic Sweeping (Malaysia) Sdn during the year. Amounts due to Megasonic Sweeping (Malaysia) Sdn at the end of the year amounted to £Nil (2022: £Nil).

Crest Group Inc
Crest Group Inc have been charged management charges of £49,631 during the year. Amounts due to CC Hydrosonics at the end of the year amounted to £106,618 (2022: £66,877).





C. C. Hydrosonics Limited (Registered number: 01108860)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023
KLN Ultraschall GMBH
KLN Ultraschall GMBH purchased £2,893 (2022: £7,367) of goods and services from CC Hydrosonics Limited during the year. Amounts due to CC Hydrosonics Limited at the end of the year amounted to £Nil (2022: £6,406).

Martin Walter Ultraschalltechnik AG
CC Hydrosonics Limited purchased £84,049 (2022: £67,791) of goods and services from Martin Walter Ultraschalltechnik AG during the year. Amounts due to Martin Walter Ultraschalltechnik AG at the end of the year amounted to £9,395 (2022: £69,347).

13. ULTIMATE CONTROLLING PARTY

The controlling party is the ultimate parent company Crestek Inc, incorporated in USA.

The ultimate controlling party is Mr James Michael Goodson.