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REGISTERED NUMBER: 10792209 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2022

FOR

ECOVACS ROBOTICS UK LTD

ECOVACS ROBOTICS UK LTD (REGISTERED NUMBER: 10792209)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ECOVACS ROBOTICS UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2022







DIRECTOR: D C Qian



REGISTERED OFFICE: 15a Station Road
Epping
Essex
CM16 4HG



REGISTERED NUMBER: 10792209 (England and Wales)



SENIOR STATUTORY AUDITOR: John Hegney



AUDITORS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

ECOVACS ROBOTICS UK LTD (REGISTERED NUMBER: 10792209)

BALANCE SHEET
31ST DECEMBER 2022

2022 2021
(Unaudited)
Notes £    £   
CURRENT ASSETS
Stocks 3,435,018 3,161,071
Debtors 4 893,392 451,392
Cash at bank 3,794,185 4,420,488
8,122,595 8,032,951
CREDITORS
Amounts falling due within one year 5 (9,082,067 ) (10,241,335 )
NET CURRENT LIABILITIES (959,472 ) (2,208,384 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(959,472

)

(2,208,384

)

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Share premium 641 641
Retained earnings (970,113 ) (2,219,025 )
(959,472 ) (2,208,384 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 23rd October 2023 and were signed by:





D C Qian - Director


ECOVACS ROBOTICS UK LTD (REGISTERED NUMBER: 10792209)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2022

1. STATUTORY INFORMATION

Ecovacs Robotics Uk Ltd 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation 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 taxation 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Provisions
A provision is recognised in the balance sheet when a company has a present legal or constructive obligation as a result of a past event, that can be reliably measured, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Cash and cash equivalents
Cash and cash equivalents includes short-term deposits with banks and other financial institutions. Bank transactions are recorded on their settlement date.

Transfer pricing
The UK's transfer pricing rules are set out in Part 4 TIOPA 2010 (prior to April 2010 in s770A and Schedule 28AA of the Income and Corporation Taxes Act 1988). These came into effect for accounting periods ending after 30 June 1999. UK legislation refers to the OECD Guidelines and the arm's length principle they set out. Transfer pricing is part of UK corporation tax self-assessment. This means that submitted corporate tax returns must comply with the arm's length principle.

ECOVACS ROBOTICS UK LTD (REGISTERED NUMBER: 10792209)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
(Unaudited)
£    £   
Trade debtors 570,021 451,392
Other debtors 323,371 -
893,392 451,392

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
(Unaudited)
£    £   
Trade creditors 4,440 17,701
Amounts owed to associates 8,638,158 8,877,588
Social security and other taxes 425,921 771,660
Other creditors - 570,661
Accrued expenses 13,548 3,725
9,082,067 10,241,335

The amounts due to other creditors at 31 December 2021 have been restated to disclose amounts in respect of "Goods in Transit" as amounts due to group undertakings to better reflect the nature of the liability.

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

The Report of the Auditors was unqualified.

John Hegney (Senior Statutory Auditor)
for and on behalf of Folkes Worton LLP

7. ULTIMATE CONTROLLING PARTY

Ecovacs Robotics UK Ltd is a wholly owned subsidiary of it's parent company Ecovacs Europe GmbH based in Germany. The ultimate parent company, Ecovacs Robotics is based in China.