REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 30 June 2023 |
for |
C. C. Hydrosonics Limited |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
Plant and machinery | - |
Motor vehicles | - |
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 |
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 |
Additions |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
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) |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase | contracts |
2023 | 2022 |
£ | £ |
Gross obligations repayable: |
Within one year |
Finance charges repayable: |
Within one year |
Net obligations repayable: |
Within one year |
Non-cancellable | operating leases |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
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. |
for and on behalf of |
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 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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 |