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Registered number: 10753850










AVITEQ UK LTD










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
AVITEQ UK LTD
 
 
COMPANY INFORMATION


Directors
P A Fletcher 
A Eicke 
B Finger 




Registered number
10753850



Registered office
63 Napier Street

Sheffield

South Yorkshire

S11 8HA




Independent auditors
Shorts
Chartered Accountants & Statutory Auditor

Cedar House

63 Napier Street

Sheffield

South Yorkshire

S11 8HA




Bankers
Natwest Bank plc





 
AVITEQ UK LTD
REGISTERED NUMBER:10753850

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Tangible assets
 4 
-
-

Current assets
  

Debtors: amounts falling due within one year
 5 
84,092
132,701

Cash at bank and in hand
  
59,705
40,396

  
143,797
173,097

Creditors: amounts falling due within one year
 6 
(196,667)
(222,460)

Net current liabilities
  
 
 
(52,870)
 
 
(49,363)

Total assets less current liabilities
  
(52,870)
(49,363)

Creditors: amounts falling due after more than one year
 7 
(30,995)
(31,548)

  

Net liabilities
  
(83,865)
(80,911)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(83,965)
(81,011)

  
(83,865)
(80,911)


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 on 29 April 2025.




P A Fletcher
Director

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
AVITEQ UK LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Aviteq UK Ltd is a private company limited by shares, incorporated in England and Wales (registered
number: 10753850). Its registered office is 63 Napier Street, Sheffield, South Yorkshire, S11 8HA. The
principal activity of the Company throughout the year continued to be that of the supply of high quality
components for technology applications.

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 financial statements have been prepared on the going concern basis which assumes that the
Company will continue in operational existence for the foreseeable future. The validity of this
assumption depends on the ability of the Company to generate profits in the future as well as the
continued support of its parent company. The directors believe this to be well founded, based on
current and expected future levels of activity.

 
2.3

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

Page 2

 
AVITEQ UK LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
AVITEQ UK LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.7

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:

Plant and machinery
-
20%
Straight Line
Fixtures and fittings
-
20%
Straight Line

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.

Page 4

 
AVITEQ UK LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
AVITEQ UK LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost


At 1 January 2024
2,051
816
2,867


Disposals
(1,474)
-
(1,474)



At 31 December 2024

577
816
1,393



Depreciation


At 1 January 2024
2,051
816
2,867


Disposals
(1,474)
-
(1,474)



At 31 December 2024

577
816
1,393



Net book value



At 31 December 2024
-
-
-



At 31 December 2023
-
-
-


5.


Debtors

2024
2023
£
£


Trade debtors
54,506
102,158

Prepayments and accrued income
1,559
3,501

Deferred taxation
28,027
27,042

84,092
132,701


Page 6

 
AVITEQ UK LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,210
1,404

Amounts owed to group undertakings
160,179
163,933

Other taxation and social security
25,774
49,386

Other creditors
679
1,237

Accruals and deferred income
6,825
6,500

196,667
222,460



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
30,995
31,548



8.


Deferred taxation




2024


£






At beginning of year
27,042


Charged to profit or loss
985



At end of year
28,027

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
55
55

Tax losses carried forward
27,972
26,987

28,027
27,042

Page 7

 
AVITEQ UK LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,642 (2023: £2,638). An amount of £219 (2023: £1,204), was outstanding within creditors at the year end. 


10.


Controlling party

AViTEQ Vibrationstechnik GmbH is the ultimate parent undertaking of AViTEQ UK Ltd. The registered address of AViTEQ Vibrationstechnik GmbH is Im Gotthelf 16, 65795 Hattersheim am Main, Germany.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 29 April 2025 by Malcolm Pope (Senior Statutory Auditor) on behalf of Shorts.

 
Page 8