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REGISTERED NUMBER: 07306969 (England and Wales)









CTS EUROPE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






CTS EUROPE LIMITED (REGISTERED NUMBER: 07306969)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CTS EUROPE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: S P Codling





SECRETARY: MC Secretaries Limited





REGISTERED OFFICE: Station House
North Street
Havant
Hampshire
PO9 1QU





REGISTERED NUMBER: 07306969 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

CTS EUROPE LIMITED (REGISTERED NUMBER: 07306969)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 20,254 25,509
Tangible assets 5 296,388 60,758
Investments 6 1,000 1,000
317,642 87,267

CURRENT ASSETS
Stocks 569,815 613,718
Debtors 7 1,931,196 994,944
Investments 8 4,918 62,742
Cash at bank and in hand 66,291 165,104
2,572,220 1,836,508
CREDITORS
Amounts falling due within one year 9 1,824,397 966,819
NET CURRENT ASSETS 747,823 869,689
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,065,465

956,956

CREDITORS
Amounts falling due after more than one
year

10

(165,258

)

(158,878

)

PROVISIONS FOR LIABILITIES (49,428 ) (4,015 )
NET ASSETS 850,779 794,063

CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings 850,679 793,963
SHAREHOLDERS' FUNDS 850,779 794,063

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CTS EUROPE LIMITED (REGISTERED NUMBER: 07306969)

BALANCE SHEET - continued
31 JULY 2024


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 director and authorised for issue on 17 January 2025 and were signed by:





S P Codling - Director


CTS EUROPE LIMITED (REGISTERED NUMBER: 07306969)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

CTS Europe 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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.

Turnover
Turnover represents net sales of the design, installation and manufacture of scientific containers for the period, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Website design and development are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 2% on cost
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors and cash at bank: Trade and other debtors are recognised at the settlement amount due after any trade discount offered. prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash on deposit or in a current account.

Creditors and provisions: Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of economic benefits to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.


CTS EUROPE LIMITED (REGISTERED NUMBER: 07306969)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences at the balance sheet date, except as otherwise required in the paragraphs below.

Unrelieved 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 shall not be recognised on permanent differences, other than a business combination where assets (other than goodwill) give rise to an deferred tax asset or liability.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

Exemption from consolidation
The company has taken advantage of the Companies Act exemption for small groups from preparing consolidated accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2023 - 34 ) .

CTS EUROPE LIMITED (REGISTERED NUMBER: 07306969)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

4. INTANGIBLE FIXED ASSETS
Website
Patents design
and and
Goodwill licences development Totals
£    £    £    £   
COST
At 1 August 2023
and 31 July 2024 50,000 14,545 4,210 68,755
AMORTISATION
At 1 August 2023 25,000 14,036 4,210 43,246
Amortisation for year 5,000 255 - 5,255
At 31 July 2024 30,000 14,291 4,210 48,501
NET BOOK VALUE
At 31 July 2024 20,000 254 - 20,254
At 31 July 2023 25,000 509 - 25,509

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 1,910 120,527 181,152 64,763 368,352
Additions - 261,450 55,490 27,919 344,859
Disposals - - (35,663 ) - (35,663 )
At 31 July 2024 1,910 381,977 200,979 92,682 677,548
DEPRECIATION
At 1 August 2023 306 102,574 142,423 62,291 307,594
Charge for year 39 62,486 29,436 8,352 100,313
Eliminated on disposal - - (26,747 ) - (26,747 )
At 31 July 2024 345 165,060 145,112 70,643 381,160
NET BOOK VALUE
At 31 July 2024 1,565 216,917 55,867 22,039 296,388
At 31 July 2023 1,604 17,953 38,729 2,472 60,758

CTS EUROPE LIMITED (REGISTERED NUMBER: 07306969)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2023 - 89,163 89,163
Additions 68,777 55,490 124,267
Disposals - (35,663 ) (35,663 )
At 31 July 2024 68,777 108,990 177,767
DEPRECIATION
At 1 August 2023 - 53,497 53,497
Charge for year 13,755 27,248 41,003
Eliminated on disposal - (26,747 ) (26,747 )
At 31 July 2024 13,755 53,998 67,753
NET BOOK VALUE
At 31 July 2024 55,022 54,992 110,014
At 31 July 2023 - 35,666 35,666

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 August 2023
and 31 July 2024 1,000
NET BOOK VALUE
At 31 July 2024 1,000
At 31 July 2023 1,000

Cost or valuation at 31 July 2024 is represented by:

Other
investments
£   
Cost 1,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,635,359 895,976
Other debtors 295,837 98,968
1,931,196 994,944

CTS EUROPE LIMITED (REGISTERED NUMBER: 07306969)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

8. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 4,918 62,742

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts (see note 11) 26,847 15,076
Trade creditors 948,833 671,372
Amounts owed to group undertakings 502,673 4,410
Taxation and social security 106,655 163,238
Other creditors 189,389 62,723
1,824,397 966,819

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 62,500 112,500
Hire purchase contracts (see note 11) 102,758 46,378
165,258 158,878

11. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Gross obligations repayable:
Within one year 38,198 18,428
Between one and five years 118,032 48,489
156,230 66,917

Finance charges repayable:
Within one year 11,351 3,352
Between one and five years 15,274 2,111
26,625 5,463

Net obligations repayable:
Within one year 26,847 15,076
Between one and five years 102,758 46,378
129,605 61,454

CTS EUROPE LIMITED (REGISTERED NUMBER: 07306969)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

12. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 129,605 61,454

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
75 Ordinary A £1 75 75
25 Ordinary B £1 25 25
100 100

14. PARENT AND ULTIMATE CONTROLLING PARTY

The parent company is Scideas Limited registered in England and Wales.

The registered office address is Station House, North Street, Havant, Hampshire, PO9 1QU.

The principal place of business is CTS House, 1 Hilltop Road, Cosham, Portsmouth, Hampshire, PO6 3RY.

Mr and Mrs S Codling are the company's controlling related parties by virture of their 75% holding of the shares in the parent company, Scideas Limited.