2022-08-012023-07-312023-07-31false09599951PVS EUROPE LTD2024-04-14iso4217:GBPxbrli:pure095999512022-08-01095999512023-07-31095999512022-08-012023-07-31095999512021-08-01095999512022-07-31095999512021-08-012022-07-3109599951bus:SmallEntities2022-08-012023-07-3109599951bus:AuditExempt-NoAccountantsReport2022-08-012023-07-3109599951bus:AbridgedAccounts2022-08-012023-07-3109599951bus:PrivateLimitedCompanyLtd2022-08-012023-07-3109599951core:WithinOneYear2023-07-3109599951core:AfterOneYear2023-07-3109599951core:WithinOneYear2022-07-3109599951core:AfterOneYear2022-07-3109599951core:ShareCapital2023-07-3109599951core:SharePremium2023-07-3109599951core:RevaluationReserve2023-07-3109599951core:OtherReservesSubtotal2023-07-3109599951core:RetainedEarningsAccumulatedLosses2023-07-3109599951core:ShareCapital2022-07-3109599951core:SharePremium2022-07-3109599951core:RevaluationReserve2022-07-3109599951core:OtherReservesSubtotal2022-07-3109599951core:RetainedEarningsAccumulatedLosses2022-07-3109599951core:LandBuildings2023-07-3109599951core:PlantMachinery2023-07-3109599951core:Vehicles2023-07-3109599951core:FurnitureFittings2023-07-3109599951core:OfficeEquipment2023-07-3109599951core:NetGoodwill2023-07-3109599951core:IntangibleAssetsOtherThanGoodwill2023-07-3109599951core:ListedExchangeTraded2023-07-3109599951core:UnlistedNon-exchangeTraded2023-07-3109599951core:LandBuildings2022-07-3109599951core:PlantMachinery2022-07-3109599951core:Vehicles2022-07-3109599951core:FurnitureFittings2022-07-3109599951core:OfficeEquipment2022-07-3109599951core:NetGoodwill2022-07-3109599951core:IntangibleAssetsOtherThanGoodwill2022-07-3109599951core:ListedExchangeTraded2022-07-3109599951core:UnlistedNon-exchangeTraded2022-07-3109599951core:LandBuildings2022-08-012023-07-3109599951core:PlantMachinery2022-08-012023-07-3109599951core:Vehicles2022-08-012023-07-3109599951core:FurnitureFittings2022-08-012023-07-3109599951core:OfficeEquipment2022-08-012023-07-3109599951core:NetGoodwill2022-08-012023-07-3109599951core:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-3109599951core:ListedExchangeTraded2022-08-012023-07-3109599951core:UnlistedNon-exchangeTraded2022-08-012023-07-3109599951core:MoreThanFiveYears2022-08-012023-07-3109599951core:Non-currentFinancialInstruments2023-07-3109599951core:Non-currentFinancialInstruments2022-07-3109599951dpl:CostSales2022-08-012023-07-3109599951dpl:DistributionCosts2022-08-012023-07-3109599951core:LandBuildings2022-08-012023-07-3109599951core:PlantMachinery2022-08-012023-07-3109599951core:Vehicles2022-08-012023-07-3109599951core:FurnitureFittings2022-08-012023-07-3109599951core:OfficeEquipment2022-08-012023-07-3109599951dpl:AdministrativeExpenses2022-08-012023-07-3109599951core:NetGoodwill2022-08-012023-07-3109599951core:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-3109599951dpl:GroupUndertakings2022-08-012023-07-3109599951dpl:ParticipatingInterests2022-08-012023-07-3109599951dpl:GroupUndertakingscore:ListedExchangeTraded2022-08-012023-07-3109599951core:ListedExchangeTraded2022-08-012023-07-3109599951dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-08-012023-07-3109599951core:UnlistedNon-exchangeTraded2022-08-012023-07-3109599951dpl:CostSales2021-08-012022-07-3109599951dpl:DistributionCosts2021-08-012022-07-3109599951core:LandBuildings2021-08-012022-07-3109599951core:PlantMachinery2021-08-012022-07-3109599951core:Vehicles2021-08-012022-07-3109599951core:FurnitureFittings2021-08-012022-07-3109599951core:OfficeEquipment2021-08-012022-07-3109599951dpl:AdministrativeExpenses2021-08-012022-07-3109599951core:NetGoodwill2021-08-012022-07-3109599951core:IntangibleAssetsOtherThanGoodwill2021-08-012022-07-3109599951dpl:GroupUndertakings2021-08-012022-07-3109599951dpl:ParticipatingInterests2021-08-012022-07-3109599951dpl:GroupUndertakingscore:ListedExchangeTraded2021-08-012022-07-3109599951core:ListedExchangeTraded2021-08-012022-07-3109599951dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-08-012022-07-3109599951core:UnlistedNon-exchangeTraded2021-08-012022-07-3109599951core:NetGoodwill2023-07-3109599951core:IntangibleAssetsOtherThanGoodwill2023-07-3109599951core:LandBuildings2023-07-3109599951core:PlantMachinery2023-07-3109599951core:Vehicles2023-07-3109599951core:FurnitureFittings2023-07-3109599951core:OfficeEquipment2023-07-3109599951core:AfterOneYear2023-07-3109599951core:WithinOneYear2023-07-3109599951core:ListedExchangeTraded2023-07-3109599951core:UnlistedNon-exchangeTraded2023-07-3109599951core:ShareCapital2023-07-3109599951core:SharePremium2023-07-3109599951core:RevaluationReserve2023-07-3109599951core:OtherReservesSubtotal2023-07-3109599951core:RetainedEarningsAccumulatedLosses2023-07-3109599951core:NetGoodwill2022-07-3109599951core:IntangibleAssetsOtherThanGoodwill2022-07-3109599951core:LandBuildings2022-07-3109599951core:PlantMachinery2022-07-3109599951core:Vehicles2022-07-3109599951core:FurnitureFittings2022-07-3109599951core:OfficeEquipment2022-07-3109599951core:AfterOneYear2022-07-3109599951core:WithinOneYear2022-07-3109599951core:ListedExch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PVS EUROPE LTD

Registered Number
09599951
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

PVS EUROPE LTD
Company Information
for the year from 1 August 2022 to 31 July 2023

Director

MUSSI, Fulvio Michele

Registered Address

The Old Granary Dunton Road
Ss15 4db
Laindon
SS15 4DB

Registered Number

09599951 (England and Wales)
PVS EUROPE LTD
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3187,944331,152
187,944331,152
Current assets
Debtors446,25824,915
Cash at bank and on hand3,6297,501
49,88732,416
Creditors amounts falling due within one year5(100,867)(138,120)
Net current assets (liabilities)(50,980)(105,704)
Total assets less current liabilities136,964225,448
Creditors amounts falling due after one year6(60,181)(90,039)
Provisions for liabilities(40,810)(50,373)
Net assets35,97385,036
Capital and reserves
Called up share capital100100
Revaluation reserve21,31871,899
Profit and loss account14,55513,037
Shareholders' funds35,97385,036
The financial statements were approved and authorised for issue by the Director on 14 April 2024, and are signed on its behalf by:
MUSSI, Fulvio Michele
Director
Registered Company No. 09599951
PVS EUROPE LTD
Notes to the Financial Statements
for the year ended 31 July 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 August 22418,786
Disposals(182,678)
At 31 July 23236,108
Depreciation and impairment
At 01 August 2287,633
Charge for year3,746
Revaluation surplus435
On disposals(43,650)
At 31 July 2348,164
Net book value
At 31 July 23187,944
At 31 July 22331,152
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables1,9921,590
Amounts owed by group undertakings33,202-
Other debtors-5,622
Prepayments and accrued income11,06417,703
Total46,25824,915
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables-5,962
Bank borrowings and overdrafts99,953129,925
Taxation and social security9142,233
Total100,867138,120
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts43,68147,155
Amounts owed to related parties-4,161
Other creditors16,50038,723
Total60,18190,039