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REGISTERED NUMBER: 07595453 (England and Wales)













Financial Statements

for the Year Ended 30 June 2023

for

H T Process Control Ltd

H T Process Control Ltd (Registered number: 07595453)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


H T Process Control Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTORS: B J Jackson
R Jackson
B Williamson



REGISTERED OFFICE: Orchard House Easterly Grange
Foxton
SEDGEFIELD
Co Durham
TS21 2HX



REGISTERED NUMBER: 07595453 (England and Wales)



SENIOR STATUTORY AUDITOR: Kevin Shotton BA BFP FCA



AUDITORS: Clive Owen LLP
Chartered Accountants
& Statutory Auditors
140 Coniscliffe Road
Darlington
County Durham
DL3 7RT

H T Process Control Ltd (Registered number: 07595453)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 63,270 89,717

CURRENT ASSETS
Stocks 5 816,781 751,301
Debtors 6 3,811,950 2,398,119
Cash at bank and in hand 127,883 124,724
4,756,614 3,274,144
CREDITORS
Amounts falling due within one year 7 3,885,071 2,528,058
NET CURRENT ASSETS 871,543 746,086
TOTAL ASSETS LESS CURRENT
LIABILITIES

934,813

835,803

CREDITORS
Amounts falling due after more than one
year

8

(20,472

)

-

PROVISIONS FOR LIABILITIES 11 (12,661 ) (11,121 )
NET ASSETS 901,680 824,682

CAPITAL AND RESERVES
Called up share capital 12 201 201
Capital redemption reserve 99 99
Retained earnings 901,380 824,382
SHAREHOLDERS' FUNDS 901,680 824,682

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 6 March 2024 and were signed on its behalf by:





R Jackson - Director


H T Process Control Ltd (Registered number: 07595453)

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

1. STATUTORY INFORMATION

H T Process Control 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 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

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 or those which are under commercial terms.

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

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 20% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.


H T Process Control Ltd (Registered number: 07595453)

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

2. ACCOUNTING POLICIES - continued
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 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.

Invoice discounting
The invoice discounting facility represents amounts received in respect of financed debts. There is full recourse
to the company for losses on debts, and so the financed debts continue to be recognised on the balance sheet.
Interest and other charges relating to invoice financing are recognised in the profit and loss account over the relevant period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 14 ) .

H T Process Control Ltd (Registered number: 07595453)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
improvements machinery fittings
£    £    £   
COST
At 1 July 2022 239,401 38,316 43,131
Additions - - -
At 30 June 2023 239,401 38,316 43,131
DEPRECIATION
At 1 July 2022 170,651 34,052 37,488
Charge for year 46,185 3,656 4,424
At 30 June 2023 216,836 37,708 41,912
NET BOOK VALUE
At 30 June 2023 22,565 608 1,219
At 30 June 2022 68,750 4,264 5,643

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 32,615 42,546 396,009
Additions 33,050 1,651 34,701
At 30 June 2023 65,665 44,197 430,710
DEPRECIATION
At 1 July 2022 24,844 39,257 306,292
Charge for year 5,107 1,776 61,148
At 30 June 2023 29,951 41,033 367,440
NET BOOK VALUE
At 30 June 2023 35,714 3,164 63,270
At 30 June 2022 7,771 3,289 89,717

5. STOCKS
2023 2022
£    £   
Stocks 816,781 751,301

H T Process Control Ltd (Registered number: 07595453)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,338,315 1,525,788
Amounts owed by group undertakings 1,255,168 632,213
Other debtors 2,500 341
Prepayments and accrued income 215,967 239,777
3,811,950 2,398,119

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 9,120 -
Trade creditors 1,134,650 673,927
Amounts owed to group undertakings 471,887 118,253
Taxation and social security 205,745 176,859
Other creditors 42,938 4,868
Invoice discounting creditor 1,667,147 1,177,956
Accruals and deferred income 353,584 376,195
3,885,071 2,528,058

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 20,472 -

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 9,120 -
Between one and five years 20,472 -
29,592 -

Non-cancellable operating leases
2023 2022
£    £   
Within one year 69,166 71,831
Between one and five years 243,833 268,666
In more than five years - 44,333
312,999 384,830

H T Process Control Ltd (Registered number: 07595453)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 29,592 -
Invoice discounting facility 1,667,147 1,347,449
1,696,739 1,347,449

Obligations under hire purchase contracts are secured against the assets to which they relate.

The invoice discounting facility is secured on trade debtors and stock.

Cross guarantee and debenture between HT Process Control Limited, PCE Holdings Limited, Process Control Equipment Limited and Process Control Equipment Scotland Limited dated 03/04/2018.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 12,661 11,121

Deferred
tax
£   
Balance at 1 July 2022 11,121
Charge to Statement of Income and Retained Earnings during year 1,540
Accelerated capital allowances
Balance at 30 June 2023 12,661

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
101 'A' Ordinary £1 101 101
100 'B' Ordinary £1 100 100
201 201

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

The Report of the Auditors was unqualified.

Kevin Shotton BA BFP FCA (Senior Statutory Auditor)
for and on behalf of Clive Owen LLP

H T Process Control Ltd (Registered number: 07595453)

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

14. ULTIMATE PARENT COMPANY

The ultimate parent undertaking is PCE Holdings Limited, a company registered at Orchard House, Easterly Grange, Foxton, Sedgefield, County Durham, TS21 2HX.

The immediate parent undertaking is Process Control Equipment Limited, a company registered at Orchard House, Easterly Grange, Foxton, Sedgefield, County Durham, TS21 2HX.