PCB Piezotronics Limited - Accounts to registrar (filleted) - small 17.3

PCB PIEZOTRONICS LIMITED - Company Information

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REGISTERED NUMBER: 05932247 (England and Wales)

PCB PIEZOTRONICS LIMITED

FINANCIAL STATEMENTS FOR THE PERIOD 1ST JANUARY 2017 TO 30TH SEPTEMBER 2017

Page

Company Information

Statement of Financial Position

Notes to the Financial Statements

DIRECTORS:

R P Barrett

A P R De Landsheer

D T Hore

SECRETARY:

R P Barrett

REGISTERED OFFICE:

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

REGISTERED NUMBER:

05932247 (England and Wales)

AUDITORS:

Wags LLP t/a Wagstaffs

Chartered Accountants and Statutory Auditors

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

FIXED ASSETS

Property, plant and equipment

5,945

3,119

CURRENT ASSETS

Inventories

63,402

51,002

Debtors

659,259

664,932

Cash at bank

627,793

424,231

1,350,454

1,140,165

CREDITORS

Amounts falling due within one year

(112,438

)

(85,994

)

NET CURRENT ASSETS

1,238,016

1,054,171

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,243,961

1,057,290

CAPITAL AND RESERVES

Called up share capital

10,000

Retained earnings

1,233,961

1,047,290

SHAREHOLDERS' FUNDS

1,243,961

1,057,290

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21st February 2018 and were signed
on its behalf by:

R P Barrett - Director

1.	STATUTORY INFORMATION

PCB Piezotronics 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.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The period covered by the financial statements is the 9 month period from 1 January 2017 to 30 September 2017. The directors have chosen to amend the financial reporting date to 30 September of each year in line with fellow group undertakings. The shortened period should be taken into account when reviewing the comparative information within the financial statements.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting estimates and judgements

No significant judgements or estimates have had to be made by the directors in preparing these

financial statements.

Revenue

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

taxes of sales made and commissions received during the year.

Revenue recognition

Revenue is recognised in regards to commissions received based on the period in which the

commissions relate to.

Property, plant and equipment

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

Fixtures and fittings

33% on cost

Inventories

Inventories are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Inventories are valued on a "first in first out" basis.

Tax

Tax for the period comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred tax 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 statement of financial position date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling

at the statement of financial position 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

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2016 - 5 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

Cost

At 1st January 2017

7,744

Additions

7,362

Disposals

(7,745

)

At 30th September 2017

7,361

Depreciation

At 1st January 2017

4,625

Charge for period

1,417

Eliminated on disposal

(4,626

)

At 30th September 2017

1,416

Net book value

At 30th September 2017

5,945

At 31st December 2016

3,119

DEBTORS

2017

2016

Amounts falling due within one year:

Amounts owed by group undertakings

411,458

419,372

Other debtors

22,801

20,560

434,259

439,932

Amounts falling due after more than one year:

Amounts owed by group undertakings

225,000

Aggregate amounts

659,259

664,932

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

Trade creditors

1,291

5,198

Amounts owed to group undertakings

1,513

Taxation and social security

31,420

37,401

Other creditors

78,214

43,395

112,438

85,994

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

10,000

Ordinary

£1

10,000

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

The Report of the Auditors was unqualified.

N D Savjani (Senior Statutory Auditor)

for and on behalf of Wags LLP t/a Wagstaffs

10.	PARENT AND ULTIMATE PARENT UNDERTAKINGS

The parent undertaking is PCB Piezotronics Inc, a company incorporated in the United States of

America. PCB Piezotronics Inc prepares the smallest group financial statements in which the

company belongs and a copy of these financial statements can be obtained from 3425 Walden

Avenue, Depew, NY, 14043-2495, USA, which is also the registered office address of the parent

undertaking.

The ultimate parent undertaking and controlling party is MTS Systems Corporation, a company

incorporated in the United States of America. MTS Systems Corporation prepares the largest group

financial statements in which the company belongs and a copy of these financial statements can be

obtained from 14000 Technology Drive, Eden Prairie, MN, 55344-2290, USA.