Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-0114falseNo description of principal activity11falsetrue 00717356 2023-01-01 2023-12-31 00717356 2022-01-01 2022-12-31 00717356 2023-12-31 00717356 2022-12-31 00717356 c:Director1 2023-01-01 2023-12-31 00717356 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 00717356 d:Buildings d:ShortLeaseholdAssets 2023-12-31 00717356 d:Buildings d:ShortLeaseholdAssets 2022-12-31 00717356 d:PlantMachinery 2023-01-01 2023-12-31 00717356 d:PlantMachinery 2023-12-31 00717356 d:PlantMachinery 2022-12-31 00717356 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00717356 d:MotorVehicles 2023-01-01 2023-12-31 00717356 d:MotorVehicles 2023-12-31 00717356 d:MotorVehicles 2022-12-31 00717356 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00717356 d:FurnitureFittings 2023-01-01 2023-12-31 00717356 d:FurnitureFittings 2023-12-31 00717356 d:FurnitureFittings 2022-12-31 00717356 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00717356 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00717356 d:CurrentFinancialInstruments 2023-12-31 00717356 d:CurrentFinancialInstruments 2022-12-31 00717356 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00717356 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00717356 d:ShareCapital 2023-12-31 00717356 d:ShareCapital 2022-12-31 00717356 d:CapitalRedemptionReserve 2023-12-31 00717356 d:CapitalRedemptionReserve 2022-12-31 00717356 d:RetainedEarningsAccumulatedLosses 2023-12-31 00717356 d:RetainedEarningsAccumulatedLosses 2022-12-31 00717356 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 00717356 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 00717356 c:OrdinaryShareClass1 2023-01-01 2023-12-31 00717356 c:OrdinaryShareClass1 2023-12-31 00717356 c:OrdinaryShareClass1 2022-12-31 00717356 c:FRS102 2023-01-01 2023-12-31 00717356 c:Audited 2023-01-01 2023-12-31 00717356 c:FullAccounts 2023-01-01 2023-12-31 00717356 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00717356 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 00717356 6 2023-01-01 2023-12-31 00717356 4 2023-12-31 00717356 4 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure
Company registration number: 00717356







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


VIBRATECHNIQUES LIMITED






































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VIBRATECHNIQUES LIMITED
REGISTERED NUMBER:00717356



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
94,946
128,702

Investments
 5 
100
100

  
95,046
128,802

Current assets
  

Stocks
  
775,067
904,220

Debtors: amounts falling due within one year
 6 
1,102,359
855,276

Cash at bank and in hand
  
727,834
899,750

  
2,605,260
2,659,246

Creditors: amounts falling due within one year
 7 
(1,024,951)
(1,294,985)

Net current assets
  
 
 
1,580,309
 
 
1,364,261

Total assets less current liabilities
  
1,675,355
1,493,063

Provisions for liabilities
  

Deferred tax
 8 
(8,527)
(10,356)

  
 
 
(8,527)
 
 
(10,356)

Net assets
  
1,666,828
1,482,707


Capital and reserves
  

Called up share capital 
 9 
1,250
1,250

Capital redemption reserve
  
850
850

Profit and loss account
  
1,664,728
1,480,607

  
1,666,828
1,482,707


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2024.




P Silingardi
Director

Page 1

 


VIBRATECHNIQUES LIMITED
REGISTERED NUMBER:00717356


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


VIBRATECHNIQUES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Vibratechniques 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 trading address is 20 Cecil Pashley Way, Shoreham-by-Sea, West Sussex, BN43 5FF.
The presentation currency of the financial statements is the Pound Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 


VIBRATECHNIQUES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 


VIBRATECHNIQUES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and reducing balance method..

Depreciation is provided on the following basis:

Land and buildings
-
10%
on cost
Plant and machinery etc
-
33%
on reducing balance and 25% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Financial Instruments

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2022 - 14).

Page 5

 


VIBRATECHNIQUES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
24,047
861,717
33,980
223,365
1,143,109


Additions
-
-
-
645
645



At 31 December 2023

24,047
861,717
33,980
224,010
1,143,754



Depreciation


At 1 January 2023
16,834
762,570
31,065
203,938
1,014,407


Charge for the year on owned assets
2,404
24,787
729
6,481
34,401



At 31 December 2023

19,238
787,357
31,794
210,419
1,048,808



Net book value



At 31 December 2023
4,809
74,360
2,186
13,591
94,946



At 31 December 2022
7,213
99,147
2,915
19,427
128,702


5.


Fixed asset investments





Totals

£





At 1 January 2023
100






Net book value



At 31 December 2023
100



At 31 December 2022
100

Page 6

 


VIBRATECHNIQUES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
1,040,463
799,674

Amounts owed by group undertakings
4,519
144

Other debtors
30,000
30,000

Prepayments and accrued income
27,377
25,458

1,102,359
855,276



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
136,086
131,800

Amounts owed to group undertakings
635,741
937,562

Corporation tax
53,943
12,817

Other taxation and social security
185,349
200,296

Other creditors
1,432
2,010

Accruals and deferred income
12,400
10,500

1,024,951
1,294,985



8.


Deferred taxation




2023


£






At beginning of year
(10,356)


Charged to profit or loss
1,829



At end of year
(8,527)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(8,527)
(10,356)

(8,527)
(10,356)

Page 7

 


VIBRATECHNIQUES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,250 (2022 - 1,250) Ordinary shares of £1.00 each
1,250
1,250



10.


Parent company

The company is a wholly owned subsidiary of S.C.E. Holdings SRL, a company incorporated in Italy.
S.C.E. Holdings SRL is the parent undertaking of the smallest and largest group which prepared publicly available consolidated financial statements for the year ended 31 December 2023. Copies of the consolidated financial statements may be obtained from Via Matteo Bandello, 15, 20123 Milano.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 25 September 2024 by James Fox ACA FCCA (Senior Statutory Auditor) (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 8