PCB Piezotronics Limited - Accounts to registrar (filleted) - small 18.2

PCB PIEZOTRONICS LIMITED - Company Information

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REGISTERED NUMBER: 05932247 (England and Wales)

PCB PIEZOTRONICS LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2018

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

8,279

5,945

CURRENT ASSETS

Inventories

67,953

63,402

Debtors

726,667

659,259

Cash at bank

586,674

627,793

1,381,294

1,350,454

CREDITORS

Amounts falling due within one year

(136,100

)

(112,438

)

NET CURRENT ASSETS

1,245,194

1,238,016

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,253,473

1,243,961

CAPITAL AND RESERVES

Called up share capital

10,000

Retained earnings

1,243,473

1,233,961

SHAREHOLDERS' FUNDS

1,253,473

1,243,961

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 30th January 2019 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.

The comparative period shown in the financial statements is the 9 month period from 1 January

2017 to 30 September 2017. The directors have chosen to reduce the financial reporting date to 30

September of each year in line with the reporting date of other group undertakings. The reduced

comparative period should be taken into account when reviewing the information within the

financial statements.

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Significant judgements and estimates

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 by the company on a first in, first out basis.

Tax

Tax for the year 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.

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 year was 5 (2017 - 5 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

Cost

At 1st October 2017

7,361

Additions

5,404

At 30th September 2018

12,765

Depreciation

At 1st October 2017

1,416

Charge for year

3,070

At 30th September 2018

4,486

Net book value

At 30th September 2018

8,279

At 30th September 2017

5,945

DEBTORS

2018

2017

Amounts falling due within one year:

Amounts owed by group undertakings

482,631

411,458

Other debtors

19,036

22,801

501,667

434,259

Amounts falling due after more than one year:

Amounts owed by group undertakings

225,000

Aggregate amounts

726,667

659,259

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

Trade creditors

5,062

1,291

Amounts owed to group undertakings

865

1,513

Taxation and social security

68,435

31,420

Other creditors

61,738

78,214

136,100

112,438

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

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 UNDERTAKING

The parent undertaking of the smallest group that the company belongs to is PCB Piezotronics Inc, a

company incorporated in the United States of America, whose registered office is 3425 Walden

Avenue, Depew, NY, 14043-2495, USA.

The parent undertaking of the largest group that the company belongs to is MTS Systems

Corporation, a company incorporated in the United States of America, whose registered office is

14000 Technology Drive, Eden Prairie, MN, USA.