PCB Piezotronics Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 05932247 (England and Wales)

PCB PIEZOTRONICS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2015

Page

Company Information

1

Accountants' Report

2

Abbreviated Balance Sheet

3

to

4

Notes to the Abbreviated Accounts

5

to

6

DIRECTORS:

G Turgoose

J A Lally

D T Hore

SECRETARY:

G Turgoose

REGISTERED OFFICE:

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

REGISTERED NUMBER:

05932247 (England and Wales)

ACCOUNTANTS:

Wags LLP t/a Wagstaffs

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages three to six) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of PCB Piezotronics Limited for the year ended 31st December 2015

which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of

Changes in Equity, Cash Flow Statement and the related notes from the company's accounting records and

from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of PCB Piezotronics Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of PCB Piezotronics Limited and state those matters that we have agreed to state to the Board of Directors of PCB Piezotronics Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that PCB Piezotronics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PCB Piezotronics Limited. You consider that PCB Piezotronics Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of PCB

Piezotronics Limited. For this reason, we have not verified the accuracy or completeness of the accounting

records or information and explanations you have given to us and we do not, therefore, express any

opinion on the statutory financial statements.

Wags LLP t/a Wagstaffs

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

22nd February 2016

FIXED ASSETS

Tangible assets

2

254

1,283

CURRENT ASSETS

Stocks

52,994

46,374

Debtors

3

700,385

440,377

Cash at bank

286,415

387,375

1,039,794

874,126

CREDITORS

Amounts falling due within one year

(105,114

)

(113,521

)

NET CURRENT ASSETS

934,680

760,605

TOTAL ASSETS LESS CURRENT LIABILITIES

934,934

761,888

CAPITAL AND RESERVES

Called up share capital

4

10,000

10,000

Retained earnings

924,934

751,888

SHAREHOLDERS' FUNDS

934,934

761,888

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 22nd February 2016 and were signed on its behalf by:

G Turgoose - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard

for Smaller Entities (effective January 2015), not to disclose related party transactions with wholly

owned subsidiaries within the group.

Turnover

Turnover represents the total invoice value, excluding value added tax, trade discounts and all other

taxes of sales made during the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

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.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

Cost

At 1st January 2015

and 31st December 2015

19,282

Depreciation

At 1st January 2015

17,999

Charge for year

1,029

At 31st December 2015

19,028

Net book value

At 31st December 2015

254

At 31st December 2014

1,283

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 225,000 (2014 - £ 120,000 )

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

10,000

Ordinary

£1

10,000

10,000

5.	ULTIMATE PARENT COMPANY