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REGISTERED NUMBER: 03144002 (England and Wales)















II - VI U.K. LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






II - VI U.K. LIMITED (REGISTERED NUMBER: 03144002)






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 to 5


II - VI U.K. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Mrs L Farquhar
W R Bashaw II





SECRETARY: Corporation Service Company (UK) Limited





REGISTERED OFFICE: c/o Corporation Service Co (UK) Limited
5 Churchill Place
10th Floor
London
E14 5HU





REGISTERED NUMBER: 03144002 (England and Wales)





AUDITORS: Duncan & Toplis Audit Limited, Statutory Auditor
14 All Saints Street
Stamford
Lincolnshire
PE9 2PA

II - VI U.K. LIMITED (REGISTERED NUMBER: 03144002)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 298 2,861

CURRENT ASSETS
Debtors 5 204,204 748,974
Cash at bank and in hand 5,952,242 101,423
6,156,446 850,397
CREDITORS
Amounts falling due within one year 6 5,286,199 184,867
NET CURRENT ASSETS 870,247 665,530
TOTAL ASSETS LESS CURRENT LIABILITIES 870,545 668,391

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 869,545 667,391
SHAREHOLDERS' FUNDS 870,545 668,391

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 Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





Mrs L Farquhar - Director


II - VI U.K. LIMITED (REGISTERED NUMBER: 03144002)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

II - VI U.K. 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
At the date of issue of these financial statements the process had commenced to transfer the activities of this company to a UK branch of a fellow group company II-VI GmbH. As a result this company is not a going concern. No adjustments have been required to these financial statements to recognise assets on a non-going concern basis as the company retains the support of the group and any liabilities will be met as they fall due.

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.

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

Sales commissions are recognised at the end of the month in which the service was performed.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 50% on cost, 33% on cost and 20% on cost

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

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


II - VI U.K. LIMITED (REGISTERED NUMBER: 03144002)

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 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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 July 2022 58,428
Additions 1,343
Disposals (39,171 )
At 30 June 2023 20,600
DEPRECIATION
At 1 July 2022 55,567
Charge for year 3,906
Eliminated on disposal (39,171 )
At 30 June 2023 20,302
NET BOOK VALUE
At 30 June 2023 298
At 30 June 2022 2,861

II - VI U.K. LIMITED (REGISTERED NUMBER: 03144002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 5,148 5,899
Amounts owed by group 115,737 656,287
Prepayments and accrued income 83,319 86,788
204,204 748,974

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 116 938
Corporation tax 53,927 -
Other creditors 107,488 164,854
Amounts owed to group 5,093,894 -
Accrued expenses 30,774 19,075
5,286,199 184,867

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 3,135 27,052
Between one and five years - 3,135
3,135 30,187

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

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

The Report of the Auditors was unqualified.

Mark Hindmarch BSc ACA (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

Emphasis of matter - basis of preparation
We draw attention to Note 2 to the financial statements which explains that the directors do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter.

10. ULTIMATE PARENT COMPANY

The immediate and ultimate parent company is Coherent Corp (formerly II-VI Inc) a company registered in the United States of America. The only group of undertakings for which group financial statements are drawn up and of which this company is a member is Coherent Corp. Copies of the group financial statements are available from: 2500 One PPG Place Pittsburgh, PA 15222-5401, USA.