2023-01-012023-12-312023-12-31false03463733PWC INTERNATIONAL LIMITED2024-11-28iso4217:GBPxbrli:pure034637332023-01-01034637332023-12-31034637332023-01-012023-12-31034637332022-01-01034637332022-12-31034637332022-01-012022-12-3103463733bus:SmallEntities2023-01-012023-12-3103463733bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3103463733bus:AbridgedAccounts2023-01-012023-12-3103463733bus:PrivateLimitedCompanyLtd2023-01-012023-12-3103463733core:WithinOneYear2023-12-3103463733core:AfterOneYear2023-12-3103463733core:WithinOneYear2022-12-3103463733core:AfterOneYear2022-12-3103463733core:ShareCapital2023-12-3103463733core:SharePremium2023-12-3103463733core:RevaluationReserve2023-12-3103463733core:OtherReservesSubtotal2023-12-3103463733core:RetainedEarningsAccumulatedLosses2023-12-3103463733core:ShareCapital2022-12-3103463733core:SharePremium2022-12-3103463733core:RevaluationReserve2022-12-3103463733core:OtherReservesSubtotal2022-12-3103463733core:RetainedEarningsAccumulatedLosses2022-12-3103463733core:LandBuildings2023-12-3103463733core:PlantMachinery2023-12-3103463733core:Vehicles2023-12-3103463733core:FurnitureFittings2023-12-3103463733core:OfficeEquipment2023-12-3103463733core:NetGoodwill2023-12-3103463733core:IntangibleAssetsOtherThanGoodwill2023-12-3103463733core:ListedExchangeTraded2023-12-3103463733core:UnlistedNon-exchangeTraded2023-12-3103463733core:LandBuildings2022-12-3103463733core:PlantMachinery2022-12-3103463733core:Vehicles2022-12-3103463733core:FurnitureFittings2022-12-3103463733core:OfficeEquipment2022-12-3103463733core:NetGoodwill2022-12-3103463733core:IntangibleAssetsOtherThanGoodwill2022-12-3103463733core:ListedExchangeTraded2022-12-3103463733core:UnlistedNon-exchangeTraded2022-12-3103463733core:LandBuildings2023-01-012023-12-3103463733core:PlantMachinery2023-01-012023-12-3103463733core:Vehicles2023-01-012023-12-3103463733core:FurnitureFittings2023-01-012023-12-3103463733core:OfficeEquipment2023-01-012023-12-3103463733core:NetGoodwill2023-01-012023-12-3103463733core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3103463733core:ListedExchangeTraded2023-01-012023-12-3103463733core:UnlistedNon-exchangeTraded2023-01-012023-12-3103463733core:MoreThanFiveYears2023-01-012023-12-3103463733core:Non-currentFinancialInstruments2023-12-3103463733core:Non-currentFinancialInstruments2022-12-3103463733dpl:CostSales2023-01-012023-12-3103463733dpl:DistributionCosts2023-01-012023-12-3103463733core:LandBuildings2023-01-012023-12-3103463733core:PlantMachinery2023-01-012023-12-3103463733core:Vehicles2023-01-012023-12-3103463733core:FurnitureFittings2023-01-012023-12-3103463733core:OfficeEquipment2023-01-012023-12-3103463733dpl:AdministrativeExpenses2023-01-012023-12-3103463733core:NetGoodwill2023-01-012023-12-3103463733core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3103463733dpl:GroupUndertakings2023-01-012023-12-3103463733dpl:ParticipatingInterests2023-01-012023-12-3103463733dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3103463733core:ListedExchangeTraded2023-01-012023-12-3103463733dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3103463733core:UnlistedNon-exchangeTraded2023-01-012023-12-3103463733dpl:CostSales2022-01-012022-12-3103463733dpl:DistributionCosts2022-01-012022-12-3103463733core:LandBuildings2022-01-012022-12-3103463733core:PlantMachinery2022-01-012022-12-3103463733core:Vehicles2022-01-012022-12-3103463733core:FurnitureFittings2022-01-012022-12-3103463733core:OfficeEquipment2022-01-012022-12-3103463733dpl:AdministrativeExpenses2022-01-012022-12-3103463733core:NetGoodwill2022-01-012022-12-3103463733core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3103463733dpl:GroupUndertakings2022-01-012022-12-3103463733dpl:ParticipatingInterests2022-01-012022-12-3103463733dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3103463733core:ListedExchangeTraded2022-01-012022-12-3103463733dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3103463733core:UnlistedNon-exchangeTraded2022-01-012022-12-3103463733core:NetGoodwill2023-12-3103463733core:IntangibleAssetsOtherThanGoodwill2023-12-3103463733core:LandBuildings2023-12-3103463733core:PlantMachinery2023-12-3103463733core:Vehicles2023-12-3103463733core:FurnitureFittings2023-12-3103463733core:OfficeEquipment2023-12-3103463733core:AfterOneYear2023-12-3103463733core:WithinOneYear2023-12-3103463733core:ListedExchangeTraded2023-12-3103463733core:UnlistedNon-exchangeTraded2023-12-3103463733core:ShareCapital2023-12-3103463733core:SharePremium2023-12-3103463733core:RevaluationReserve2023-12-3103463733core:OtherReservesSubtotal2023-12-3103463733core:RetainedEarningsAccumulatedLosses2023-12-3103463733core:NetGoodwill2022-12-3103463733core:IntangibleAssetsOtherThanGoodwill2022-12-3103463733core:LandBuildings2022-12-3103463733core:PlantMachinery2022-12-3103463733core:Vehicles2022-12-3103463733core:FurnitureFittings2022-12-3103463733core:OfficeEquipment2022-12-3103463733core:AfterOneYear2022-12-3103463733core:WithinOneYear2022-12-3103463733core:Listed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PWC INTERNATIONAL LIMITED

Registered Number
03463733
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

PWC INTERNATIONAL LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

COLBOURN, Toby

Company Secretary

COLBOURN, Judith

Registered Address

2 The Chapel
Royal Victoria Patriotic Building
John Archer Way
SW18 3SX

Registered Number

03463733 (England and Wales)
PWC INTERNATIONAL LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3102,936137,187
102,936137,187
Current assets
Debtors4,51,102,421642,530
Cash at bank and on hand1,080,9911,434,733
2,183,4122,077,263
Creditors amounts falling due within one year6(415,549)(387,856)
Net current assets (liabilities)1,767,8631,689,407
Total assets less current liabilities1,870,7991,826,594
Provisions for liabilities(17,473)(17,473)
Net assets1,853,3261,809,121
Capital and reserves
Called up share capital22
Profit and loss account1,853,3241,809,119
Shareholders' funds1,853,3261,809,121
The financial statements were approved and authorised for issue by the Director on 28 November 2024, and are signed on its behalf by:
COLBOURN, Toby
Director
Registered Company No. 03463733
PWC INTERNATIONAL LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
PWC International Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 The Chapel, Royal Victoria Patriotic Building, John Archer Way, London, United Kingdom, SW18 3SX.
Statement of compliance
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties at fair value. The principal accounting policies adopted are set out below.
Turnover policy
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. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed 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. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Operating leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability. Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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.
Intangible assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Software S.L over 5 years
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:

Reducing balance (%)Straight line (years)
Land and buildings-10
Plant and machinery-3
Fixtures and fittings-3
Vehicles25-
Office Equipment-3
Stocks and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises 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.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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. 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. Amounts 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.
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20232022
Average number of employees during the year1414
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 23413,774
At 31 December 23413,774
Depreciation and impairment
At 01 January 23276,587
Charge for year34,251
At 31 December 23310,838
Net book value
At 31 December 23102,936
At 31 December 22137,187
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables1,011,736600,731
Other debtors47,29339,799
Prepayments and accrued income-2,000
Total1,059,029642,530
5.Debtors: amounts due after one year

2023

2022

££
Other debtors43,391-
Total43,391-
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables329,881326,096
Bank borrowings and overdrafts5,0005,000
Taxation and social security80,66854,212
Accrued liabilities and deferred income-2,548
Total415,549387,856
7.Creditors: amounts due after one year
8.Obligations under finance leases
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows: 2023 2022 680,527 297,500