Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falseOther business support service activities not elsewhere classified2023-01-01false89truetrue 05932247 2023-01-01 2023-12-31 05932247 2022-01-01 2022-12-31 05932247 2023-12-31 05932247 2022-12-31 05932247 c:Director2 2023-01-01 2023-12-31 05932247 d:FurnitureFittings 2023-01-01 2023-12-31 05932247 d:FurnitureFittings 2023-12-31 05932247 d:FurnitureFittings 2022-12-31 05932247 d:CurrentFinancialInstruments 2023-12-31 05932247 d:CurrentFinancialInstruments 2022-12-31 05932247 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05932247 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05932247 d:ShareCapital 2023-12-31 05932247 d:ShareCapital 2022-12-31 05932247 d:RetainedEarningsAccumulatedLosses 2023-12-31 05932247 d:RetainedEarningsAccumulatedLosses 2022-12-31 05932247 c:OrdinaryShareClass1 2023-01-01 2023-12-31 05932247 c:OrdinaryShareClass1 2023-12-31 05932247 c:OrdinaryShareClass1 2022-12-31 05932247 c:FRS102 2023-01-01 2023-12-31 05932247 c:Audited 2023-01-01 2023-12-31 05932247 c:FullAccounts 2023-01-01 2023-12-31 05932247 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05932247 d:WithinOneYear 2023-12-31 05932247 d:WithinOneYear 2022-12-31 05932247 d:BetweenOneFiveYears 2023-12-31 05932247 d:BetweenOneFiveYears 2022-12-31 05932247 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05932247 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Company registration number: 05932247







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


PCB PIEZOTRONICS LIMITED






































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PCB PIEZOTRONICS LIMITED
REGISTERED NUMBER:05932247



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
341,939
199,537

Debtors: amounts falling due within one year
 5 
1,412,275
1,002,620

Cash at bank and in hand
  
782,683
1,316,168

  
2,536,897
2,518,325

Creditors: amounts falling due within one year
 6 
(824,717)
(597,602)

Net current assets
  
 
 
1,712,180
 
 
1,920,723

Total assets less current liabilities
  
1,712,180
1,920,723

  

Net assets
  
1,712,180
1,920,723


Capital and reserves
  

Called up share capital 
 7 
10,000
10,000

Profit and loss account
  
1,702,180
1,910,723

  
1,712,180
1,920,723


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 income and retained earnings 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 by: 




................................................
C A Lampo
Director

Date: 24 January 2025

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

Page 1

 


PCB PIEZOTRONICS LIMITED
 


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

1.


General information

PCB Piezotronics Limited is a private company, limited by shares, registered in England and Wales.                             The company's registered number, registered office address and trading address can be found on the Company Information page.

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

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.

Page 2

 


PCB PIEZOTRONICS LIMITED
 


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

2.Accounting policies (continued)

 
2.4

Taxation

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.

 
2.5

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.

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.

Depreciation is provided on the following basis:

Fixtures and fittings
-
33%
on cost

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.

 
2.6

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.

 
2.7

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.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 9).

Page 3

 


PCB PIEZOTRONICS LIMITED
 


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

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2023
23,380



At 31 December 2023

23,380



Depreciation


At 1 January 2023
23,380



At 31 December 2023

23,380



Net book value



At 31 December 2023
-



At 31 December 2022
-


5.


Debtors

2023
2022
£
£


Trade debtors
1,314,477
828,881

Amounts owed by group undertakings
80,011
156,701

Other debtors
10,663
8,916

Prepayments and accrued income
7,124
8,122

1,412,275
1,002,620


Page 4

 


PCB PIEZOTRONICS LIMITED
 


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

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
79,715
62,339

Amounts owed to group undertakings
338,595
200,864

Corporation tax
107,526
74,728

Other taxation and social security
91,063
107,926

Other creditors
3,589
2,369

Accruals and deferred income
204,229
149,376

824,717
597,602



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,000 (2022 - 10,000) Share Capital shares of £1.00 each
10,000
10,000



8.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
22,863
33,294

Later than 1 year and not later than 5 years
11,100
33,468

33,963
66,762


9.


Controlling party

The parent undertaking of the smallest group that the company belongs to and for which group financial
statements are prepared is PCB Piezotronics Inc. This company is incorporated in the United States of
America and whose registered office is: 3425 Walden Avenue, Depew, NY 14043-2495, USA.
The parent undertaking of the largest group that the company belongs and for which group financial
statements are prepared to is Amphenol Corporation. This company is incorporated in the United States of
America and whose registered office is: 358 Hall Avenue, Wallingford, CT 06492, USA.

Page 5

 


PCB PIEZOTRONICS LIMITED
 


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

10.


Auditors' information

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

The audit report was signed on 24 January 2025 by James Fox ACA FCCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 6