Registered number
12530898
Sanken Electric Europe Limited
Filleted Accounts
30 June 2023
Sanken Electric Europe Limited
Registered number: 12530898
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 - 4,903
- 4,903
Current assets
Stocks - 531,760
Debtors 4 - 542,904
Cash at bank and in hand 156,151 427,335
156,151 1,501,999
Creditors: amounts falling due within one year 5 (156,151) (777,283)
Net current assets - 724,716
Total assets less current liabilities - 729,619
Creditors: amounts falling due after more than one year 6 - (606,568)
Net assets - 123,051
Capital and reserves
Called up share capital - 1
Profit and loss account - 123,050
Shareholders' funds - 123,051
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K. M. Ekstrand
Director
Approved by the board on 3 October 2023
Sanken Electric Europe Limited
Notes to the Accounts
for the period from 26 March 2022 to 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured up to and including at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from up to and including the rendering of services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 33% Straight line
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Short leasehold property Computer Equipment Total
£ £ £ £
Cost
At 26 March 2022 - - 8,228 8,228
Disposals - - (8,228) (8,228)
At 30 June 2023 - - - -
Depreciation
At 26 March 2022 - - 3,325 3,325
On disposals - - (6,548) (6,548)
At 30 June 2023 - - - -
Net book value
At 30 June 2023 - - - -
At 25 March 2022 - - 4,903 4,903
4 Debtors 2023 2022
£ £
Trade debtors - 414,680
Amounts owed by group undertakings. - 113,006
Other debtors - 15,218
- 542,904
5 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings 148,964 76,196
Taxation and social security costs - 13,207
Other creditors 7,187 32,609
156,151 777,283
6 Creditors: amounts falling due after one year 2023 2022
£ £
Amounts owed to group undertakings - 606,568
- 606,568
7 Related party transactions
The company has taken advantage of the exemption under FRS 102 (effective date January 2015) in relation to the disclosure of transactions with group companies.
8 Ultimate parent undertaking
The company's ultimate parent undertaking is Sanken Electric Co. Ltd, incorporated in Japan. The address of Sanken Electric Co. Ltd is 3-6-3, Kitano, Saitama, Japan.
9 Other information
Sanken Electric Europe Limited is a private company limited by shares, registered in the UK. The address of its UK establishment address is:
Lyndum House
12 High Street
Petersfield
GU323JG
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