Silverfin false false 31/10/2024 01/11/2023 31/10/2024 Anthony Cowling 10/04/2012 Patricia Cowling 01/06/2011 Richard Cowling 01/06/2011 30 April 2025 The principle activity of the Company is the provision of instrumentation design and installation services. SC400732 2024-10-31 SC400732 bus:Director1 2024-10-31 SC400732 bus:Director2 2024-10-31 SC400732 bus:Director3 2024-10-31 SC400732 2023-10-31 SC400732 core:CurrentFinancialInstruments 2024-10-31 SC400732 core:CurrentFinancialInstruments 2023-10-31 SC400732 core:ShareCapital 2024-10-31 SC400732 core:ShareCapital 2023-10-31 SC400732 core:RetainedEarningsAccumulatedLosses 2024-10-31 SC400732 core:RetainedEarningsAccumulatedLosses 2023-10-31 SC400732 core:OtherPropertyPlantEquipment 2023-10-31 SC400732 core:OtherPropertyPlantEquipment 2024-10-31 SC400732 core:ImmediateParent core:CurrentFinancialInstruments 2024-10-31 SC400732 core:ImmediateParent core:CurrentFinancialInstruments 2023-10-31 SC400732 bus:OrdinaryShareClass1 2024-10-31 SC400732 2023-11-01 2024-10-31 SC400732 bus:FilletedAccounts 2023-11-01 2024-10-31 SC400732 bus:SmallEntities 2023-11-01 2024-10-31 SC400732 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 SC400732 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC400732 bus:Director1 2023-11-01 2024-10-31 SC400732 bus:Director2 2023-11-01 2024-10-31 SC400732 bus:Director3 2023-11-01 2024-10-31 SC400732 core:OtherPropertyPlantEquipment 2023-11-01 2024-10-31 SC400732 2022-11-01 2023-10-31 SC400732 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 SC400732 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 SC400732 1 2023-11-01 2024-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC400732 (Scotland)

PDC SYSTEMS LTD.

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH THE REGISTRAR

PDC SYSTEMS LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024

Contents

PDC SYSTEMS LTD.

BALANCE SHEET

AS AT 31 OCTOBER 2024
PDC SYSTEMS LTD.

BALANCE SHEET (continued)

AS AT 31 OCTOBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 22,659 5,644
22,659 5,644
Current assets
Stocks 149,254 92,722
Debtors 4 211,221 308,614
Cash at bank and in hand 6,259 24,710
366,734 426,046
Creditors: amounts falling due within one year 5 ( 101,547) ( 156,898)
Net current assets 265,187 269,148
Total assets less current liabilities 287,846 274,792
Provision for liabilities 6 ( 4,579) ( 1,303)
Net assets 283,267 273,489
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 283,167 273,389
Total shareholder's funds 283,267 273,489

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of PDC Systems Ltd. (registered number: SC400732) were approved and authorised for issue by the Board of Directors on 30 April 2025. They were signed on its behalf by:

Richard Cowling
Director
Patricia Cowling
Director
Anthony Cowling
Director
PDC SYSTEMS LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
PDC SYSTEMS LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

PDC Systems Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Scarborough House Craigearn Business Park, Morrison Way, Kintore, AB51 0TH, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration receivable for the provision of instrumentation design and installation services net of VAT and trade discounts. Turnover is recognised on an accruals basis at the time the items are sold.

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 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 is probable will be recovered.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Financial assets
Assets other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is any objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Stocks

Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Work in progress is recognised on a contract by contract basis by recording turnover and related costs as activity progresses.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are initially measured at transaction price including transaction costs. Basic financial assets are assessed for indicators of impairment at each financial reporting date with any resulting impairment recognised through profit or loss.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 7

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2023 46,088 46,088
Additions 19,079 19,079
At 31 October 2024 65,167 65,167
Accumulated depreciation
At 01 November 2023 40,444 40,444
Charge for the financial year 2,064 2,064
At 31 October 2024 42,508 42,508
Net book value
At 31 October 2024 22,659 22,659
At 31 October 2023 5,644 5,644

4. Debtors

2024 2023
£ £
Trade debtors 48,685 158,340
Amounts owed by Parent undertakings 130,977 116,668
Other debtors 31,559 33,606
211,221 308,614

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 91,923 128,581
Taxation and social security 0 17,278
Other creditors 9,624 11,039
101,547 156,898

6. Provision for liabilities

2024 2023
£ £
Deferred tax 4,579 1,303

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Other related party transactions

2024 2023
£ £
Amounts due from related parties. 130,977 116,668

There is no interest charged and no fixed terms of repayment.

9. Ultimate controlling party

Parent Company:

PDC Systems (Scotland) Limited
Scarborough House Craigearn Business Park
Morrison Way
Kintore
AB51 0TH

The ultimate controlling parties are the directors.