Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-31falseFINANCIAL STATEMENTS2023-01-01No description of principal activity22falsetruefalse 13518201 2023-01-01 2023-12-31 13518201 2022-01-01 2022-12-31 13518201 2023-12-31 13518201 2022-12-31 13518201 c:Director2 2023-01-01 2023-12-31 13518201 d:CurrentFinancialInstruments 2023-12-31 13518201 d:CurrentFinancialInstruments 2022-12-31 13518201 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13518201 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13518201 d:ShareCapital 2023-12-31 13518201 d:ShareCapital 2022-12-31 13518201 d:RetainedEarningsAccumulatedLosses 2023-12-31 13518201 d:RetainedEarningsAccumulatedLosses 2022-12-31 13518201 c:OrdinaryShareClass1 2023-01-01 2023-12-31 13518201 c:OrdinaryShareClass1 2023-12-31 13518201 c:OrdinaryShareClass1 2022-12-31 13518201 c:FRS102 2023-01-01 2023-12-31 13518201 c:Audited 2023-01-01 2023-12-31 13518201 c:FullAccounts 2023-01-01 2023-12-31 13518201 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13518201 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13518201 e:PoundSterling 2023-01-01 2023-12-31 13518201 f:UnitedStates 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered Number:13518201





PCS WIRELESS MOBILE UK LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023


 
PCS WIRELESS MOBILE UK LTD
Registered number: 13518201

BALANCE SHEET
As at 31 December 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
2,890,705
714,973

Debtors: amounts falling due within one year
 4 
6,155,939
2,322,326

Cash at bank and in hand
 5 
13,573
1,826

  
9,060,217
3,039,125

Creditors: amounts falling due within one year
 6 
(8,228,975)
(3,039,052)

Net current assets
  
 
 
831,242
 
 
73

Total assets less current liabilities
  
831,242
73

  

Net assets
  
831,242
73


Capital and reserves
  

Called up share capital 
  
73
73

Profit and loss account
  
831,169
-

  
831,242
73


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 19 September 2024.




................................................
C Hughes
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
PCS WIRELESS MOBILE UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2023

1.


General information

PCS Wireless Mobile UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2, 1 Eastern Road, Bracknell, United Kingdom, RG12 2UP.  

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company is dependent upon support from its parent company, PCS Wireless LLC.
The directors have reviewed the cash position of its parent entity, and believes that the parent entity will have sufficient financing to ensure cashflows for the next twelve months in order to provide financial support to the Company should it be required. As such the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements. Based on this assessment the directors have prepared the accounts on a going concern basis. 

 
2.3

Revenue

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. 
Revenue from the sale of goods is recognised when the significant risks and rewards of ownnership of the goods have passes to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. 

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Costs comprises of direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. 
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential. 
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss. 


Page 2

 
PCS WIRELESS MOBILE UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
PCS WIRELESS MOBILE UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
PCS WIRELESS MOBILE UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
4,856,141
2,322,253

Other debtors
3,988
73

Prepayments and accrued income
1,295,810
-

6,155,939
2,322,326



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
13,573
1,826

13,573
1,826



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
8,145,403
2,852,058

Amounts owed to group undertakings
62
5,123

Accruals and deferred income
83,510
181,871

8,228,975
3,039,052



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



73 (2022 - 73) Ordinary shares of £1.00 each
73
73



8.


Parent Company

The parent company of PCS Wireless Mobile UK Limited is  and its registered office is FINANCIAL STATEMENTS  

Page 5

 
PCS WIRELESS MOBILE UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2023

9.


Auditors' information

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

The audit report was signed on 19 September 2024 by Jonathan Bailie BA (Hons) ACA FCCA (Senior statutory auditor) on behalf of James Cowper Kreston Audit.

Page 6