IRIS Accounts Production v23.3.1.45 03487606 Board of Directors 1.7.22 30.6.23 30.6.23 6.3.24 false true false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh034876062022-06-30034876062023-06-30034876062022-07-012023-06-30034876062021-06-30034876062021-07-012022-06-30034876062022-06-3003487606ns10:Originalns15:EnglandWales2022-07-012023-06-3003487606ns14:PoundSterlingns10:Original2022-07-012023-06-3003487606ns10:Originalns10:Director12022-07-012023-06-3003487606ns10:Original2022-07-012023-06-3003487606ns10:Original2023-06-3003487606ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3003487606ns10:Originalns10:SmallEntities2022-07-012023-06-3003487606ns10:Originalns10:Audited2022-07-012023-06-3003487606ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3003487606ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3003487606ns10:Originalns10:FullAccounts2022-07-012023-06-3003487606ns10:Originalns10:OrdinaryShareClass12022-07-012023-06-3003487606ns10:Originalns10:Director22022-07-012023-06-3003487606ns10:Originalns10:Director32022-07-012023-06-3003487606ns10:CompanySecretary1ns10:Original2022-07-012023-06-3003487606ns10:Originalns10:RegisteredOffice2022-07-012023-06-3003487606ns10:Original2022-06-3003487606ns10:Originalns5:CurrentFinancialInstruments2023-06-3003487606ns10:Originalns5:CurrentFinancialInstruments2022-06-3003487606ns5:ShareCapitalns10:Original2023-06-3003487606ns5:ShareCapitalns10:Original2022-06-3003487606ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3003487606ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3003487606ns10:Originalns5:LeaseholdImprovements2022-07-012023-06-3003487606ns10:Originalns5:PlantMachinery2022-07-012023-06-3003487606ns10:Originalns5:FurnitureFittings2022-07-012023-06-3003487606ns10:Originalns5:MotorVehicles2022-07-012023-06-3003487606ns10:Originalns5:ComputerEquipment2022-07-012023-06-3003487606ns10:Original2021-07-012022-06-3003487606ns10:Originalns5:LeaseholdImprovements2022-06-3003487606ns10:Originalns5:PlantMachinery2022-06-3003487606ns10:Originalns5:FurnitureFittings2022-06-3003487606ns10:Originalns5:LeaseholdImprovements2023-06-3003487606ns10:Originalns5:PlantMachinery2023-06-3003487606ns10:Originalns5:FurnitureFittings2023-06-3003487606ns10:Originalns5:LeaseholdImprovements2022-06-3003487606ns10:Originalns5:PlantMachinery2022-06-3003487606ns10:Originalns5:FurnitureFittings2022-06-3003487606ns10:Originalns5:MotorVehicles2022-06-3003487606ns10:Originalns5:ComputerEquipment2022-06-3003487606ns10:Original2022-06-3003487606ns10:Originalns5:MotorVehicles2023-06-3003487606ns10:Originalns5:ComputerEquipment2023-06-3003487606ns10:Originalns5:MotorVehicles2022-06-3003487606ns10:Originalns5:ComputerEquipment2022-06-3003487606ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3003487606ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3003487606ns10:Originalns5:WithinOneYear2023-06-3003487606ns10:Originalns5:WithinOneYear2022-06-3003487606ns5:BetweenOneFiveYearsns10:Original2023-06-3003487606ns5:BetweenOneFiveYearsns10:Original2022-06-3003487606ns10:Originalns5:AllPeriods2023-06-3003487606ns10:Originalns5:AllPeriods2022-06-3003487606ns10:Originalns5:DeferredTaxation2022-06-3003487606ns10:Originalns5:DeferredTaxation2022-07-012023-06-3003487606ns10:Originalns5:DeferredTaxation2023-06-3003487606ns10:Originalns10:OrdinaryShareClass12023-06-30
REGISTERED NUMBER: 03487606 (England and Wales)













Financial Statements

for the Year Ended 30 June 2023

for

Process Control Equipment Scotland
Limited

Process Control Equipment Scotland
Limited (Registered number: 03487606)






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


Process Control Equipment Scotland
Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: B J Jackson
R Jackson
B Williamson



SECRETARY: R Jackson



REGISTERED OFFICE: Orchard House, Easterly Grange
Foxton
Sedgefield
County Durham
TS21 2HX



REGISTERED NUMBER: 03487606 (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

Process Control Equipment Scotland
Limited (Registered number: 03487606)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,104 6,612

CURRENT ASSETS
Stocks 5 348,305 414,420
Debtors 6 1,329,608 654,567
Cash at bank and in hand 119,491 92,741
1,797,404 1,161,728
CREDITORS
Amounts falling due within one year 7 1,759,936 1,081,682
NET CURRENT ASSETS 37,468 80,046
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,572

86,658

PROVISIONS FOR LIABILITIES 10 - 1,087
NET ASSETS 38,572 85,571

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 38,472 85,471
SHAREHOLDERS' FUNDS 38,572 85,571

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


Process Control Equipment Scotland
Limited (Registered number: 03487606)

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

1. STATUTORY INFORMATION

Process Control Equipment Scotland 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.

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 1A '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.
Improvements to property - 20% on cost
Plant and machinery - 25% 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 or loss.


Process Control Equipment Scotland
Limited (Registered number: 03487606)

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 Profit and Loss Account, 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.

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.

Operating leases
Rentals payable under operating leases are charged against the profit and loss account in the period to which they relate.

Invoice discounting facility
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 9 (2022 - 10 ) .

Process Control Equipment Scotland
Limited (Registered number: 03487606)

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2022
and 30 June 2023 2,702 24,524 24,120
DEPRECIATION
At 1 July 2022 1,531 20,377 24,120
Charge for year 540 3,852 -
At 30 June 2023 2,071 24,229 24,120
NET BOOK VALUE
At 30 June 2023 631 295 -
At 30 June 2022 1,171 4,147 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022
and 30 June 2023 18,344 11,959 81,649
DEPRECIATION
At 1 July 2022 18,344 10,665 75,037
Charge for year - 1,116 5,508
At 30 June 2023 18,344 11,781 80,545
NET BOOK VALUE
At 30 June 2023 - 178 1,104
At 30 June 2022 - 1,294 6,612

5. STOCKS
2023 2022
£    £   
Stocks 348,305 414,420

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 762,784 422,612
Amounts owed by group undertakings 536,939 200,383
Other debtors 1,284 4,876
Prepayments and accrued income 28,601 26,696
1,329,608 654,567

Process Control Equipment Scotland
Limited (Registered number: 03487606)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 451,660 304,993
Amounts owed to group undertakings 688,939 448,301
Taxation and social security 118,033 50,670
Other creditors 11,702 20,367
Invoice discounting creditor 424,931 224,734
Accrued expenses and deferred
income 64,671 32,617
1,759,936 1,081,682

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 7,350 5,537
Between one and five years 1,829 3,691
9,179 9,228

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Invoice discounting facility 424,931 224,734

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

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

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax - 1,087

Deferred
tax
£   
Balance at 1 July 2022 1,087
Credit to Statement of Income and Retained Earnings during year (1,087 )
Accelerated capital allowances
Balance at 30 June 2023 -

Process Control Equipment Scotland
Limited (Registered number: 03487606)

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

11. CALLED UP SHARE CAPITAL

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

12. 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

13. 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.