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REGISTERED NUMBER: 03487606 (England and Wales)













Financial Statements

for the Year Ended 30 June 2024

for

Process Control Equipment Scotland
Limited

Process Control Equipment Scotland
Limited (Registered number: 03487606)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Process Control Equipment Scotland
Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: B J Jackson
R Jackson
B Williamson



SECRETARY: R Jackson



REGISTERED OFFICE: Orchard House, Easterly Grange
Foxton
Sedgefield
County Durham
TS21 2HX



REGISTERED NUMBER: 03487606 (England and Wales)



SENIOR STATUTORY AUDITOR: Kevin Shotton BA BFP FCA



AUDITORS: Clive Owen LLP
Chartered Accountants
& Statutory Auditors
140 Coniscliffe Road
Darlington
County Durham
DL3 7RT

Process Control Equipment Scotland
Limited (Registered number: 03487606)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,982 1,104

CURRENT ASSETS
Stocks 5 301,810 348,305
Debtors 6 1,187,130 1,329,608
Cash at bank and in hand 179,736 119,491
1,668,676 1,797,404
CREDITORS
Amounts falling due within one year 7 1,513,919 1,759,936
NET CURRENT ASSETS 154,757 37,468
TOTAL ASSETS LESS CURRENT
LIABILITIES

194,739

38,572

CREDITORS
Amounts falling due after more than one
year

8

(17,713

)

-

PROVISIONS FOR LIABILITIES 11 (8,407 ) -
NET ASSETS 168,619 38,572

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 168,519 38,472
SHAREHOLDERS' FUNDS 168,619 38,572

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 February 2025 and were signed on its behalf by:





R Jackson - Director


Process Control Equipment Scotland
Limited (Registered number: 03487606)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Process Control Equipment Scotland 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 1A '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 or those which are under commercial terms.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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 - 20% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.


Process Control Equipment Scotland
Limited (Registered number: 03487606)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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 or finance leases are depreciated over their estimated useful lives.

The interest elements 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.

Invoice discounting facility
The invoice discounting facility represents amounts received in respect of financed debts. There is full recourse to the company for losses on debts, and so the financed debts continue to be recognised on the balance sheet. Interest and other charges relating to invoice financing are recognised in the profit and loss account over the relevant period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

Process Control Equipment Scotland
Limited (Registered number: 03487606)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2023 2,702 24,524 24,120
Additions 9,617 - -
At 30 June 2024 12,319 24,524 24,120
DEPRECIATION
At 1 July 2023 2,071 24,229 24,120
Charge for year 878 295 -
At 30 June 2024 2,949 24,524 24,120
NET BOOK VALUE
At 30 June 2024 9,370 - -
At 30 June 2023 631 295 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 18,344 11,959 81,649
Additions 33,750 1,897 45,264
At 30 June 2024 52,094 13,856 126,913
DEPRECIATION
At 1 July 2023 18,344 11,781 80,545
Charge for year 4,921 292 6,386
At 30 June 2024 23,265 12,073 86,931
NET BOOK VALUE
At 30 June 2024 28,829 1,783 39,982
At 30 June 2023 - 178 1,104

Process Control Equipment Scotland
Limited (Registered number: 03487606)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 33,750
At 30 June 2024 33,750
DEPRECIATION
Charge for year 4,921
At 30 June 2024 4,921
NET BOOK VALUE
At 30 June 2024 28,829

5. STOCKS
2024 2023
£    £   
Stocks 301,810 348,305

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 811,062 762,784
Amounts owed by group undertakings 349,103 536,939
Other debtors 2,171 1,284
Prepayments and accrued income 24,794 28,601
1,187,130 1,329,608

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 9,060 -
Trade creditors 600,045 451,660
Amounts owed to group undertakings 116,147 688,939
Corporation tax 34,911 -
Taxation and social security 114,136 118,033
Other creditors 11,957 11,702
Invoice discounting creditor 589,698 424,931
Accrued expenses and deferred
income 37,965 64,671
1,513,919 1,759,936

Process Control Equipment Scotland
Limited (Registered number: 03487606)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 17,713 -

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 9,060 -
Between one and five years 17,713 -
26,773 -

Non-cancellable operating leases
2024 2023
£    £   
Within one year 1,829 7,350
Between one and five years - 1,829
1,829 9,179

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 26,773 -
Invoice discounting facility 589,698 424,931
616,471 424,931

Obligations under hire purchase contracts are secured against the assets to which they relate.

The invoice discounting facility is secured on trade debtors and stock.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 8,407 -

Process Control Equipment Scotland
Limited (Registered number: 03487606)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Accelerated capital allowances 8,407
Balance at 30 June 2024 8,407

12. CALLED UP SHARE CAPITAL

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

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kevin Shotton BA BFP FCA (Senior Statutory Auditor)
for and on behalf of Clive Owen LLP

14. ULTIMATE PARENT COMPANY

The ultimate parent undertaking is PCE Holdings Limited, a company registered at Orchard House, Easterly Grange, Foxton, Sedgefield, County Durham, TS21 2HX.

The immediate parent undertaking is Process Control Equipment Limited, a company registered at Orchard House, Easterly Grange, Foxton, Sedgefield, County Durham, TS21 2HX.