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REGISTERED NUMBER: 05125966 (England and Wales)















Financial Statements for the Year Ended 31 December 2024

for

HARMONIC DRIVE UK LIMITED

HARMONIC DRIVE UK LIMITED (REGISTERED NUMBER: 05125966)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


HARMONIC DRIVE UK LIMITED (REGISTERED NUMBER: 05125966)

Statement of Financial Position
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,647 -
4,647 -

CURRENT ASSETS
Stocks 6 89,113 169,137
Debtors 7 582,857 988,600
Prepayments and accrued income 16,439 15,116
Cash at bank and in hand 572,630 888,723
1,261,039 2,061,576
CREDITORS
Amounts falling due within one year 8 307,696 1,115,749
NET CURRENT ASSETS 953,343 945,827
TOTAL ASSETS LESS CURRENT
LIABILITIES

957,990

945,827

PROVISIONS FOR LIABILITIES (823 ) -

ACCRUALS AND DEFERRED INCOME (42,456 ) (38,333 )
NET ASSETS 914,711 907,494

CAPITAL AND RESERVES
Called up share capital 70,000 70,000
Retained earnings 844,711 837,494
SHAREHOLDERS' FUNDS 914,711 907,494

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 Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:





Mr G F Mackrell - Director


HARMONIC DRIVE UK LIMITED (REGISTERED NUMBER: 05125966)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Harmonic Drive Uk Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05125966

Registered office: Unit 36 Wolseley Court
Stafford Technology Park
Stafford
Staffordshire
ST18 0GA

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of the financial statements in conformity with generally accepted accounting principles requires the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. Management considers that certain accounting assumptions relating to stock, tangible fixed assets and provisions are its critical accounting policies.

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

Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably.

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 - Various rates between 3 & 15 years
Fixtures and fittings - Various rates between 3 & 15 years
Computer equipment - Straight line over 3 years

HARMONIC DRIVE UK LIMITED (REGISTERED NUMBER: 05125966)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined on a moving average cost basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference
between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the
company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

HARMONIC DRIVE UK LIMITED (REGISTERED NUMBER: 05125966)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

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.

Going concern
The directors are confident that the current order book will sustain turnover levels. There are net current assets and the holding company works closely with this company. The company also has significant cash reserves.

The company has therefore continued to prepare the accounts on a going concern basis and deem this appropriate. The directors do not consider that a material uncertainty about the going concern status currently exists. In making this assessment the directors have considered the likely trading conditions for a period of twelve months from the date of the approval of these accounts.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a
result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 177,125
AMORTISATION
At 1 January 2024
and 31 December 2024 177,125
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

HARMONIC DRIVE UK LIMITED (REGISTERED NUMBER: 05125966)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2024 18,447 45,868 21,259 85,574
Additions - 4,833 - 4,833
Disposals (5,278 ) (13,218 ) (19,958 ) (38,454 )
At 31 December 2024 13,169 37,483 1,301 51,953
DEPRECIATION
At 1 January 2024 18,447 45,868 21,259 85,574
Charge for year - 186 - 186
Eliminated on disposal (5,278 ) (13,218 ) (19,958 ) (38,454 )
At 31 December 2024 13,169 32,836 1,301 47,306
NET BOOK VALUE
At 31 December 2024 - 4,647 - 4,647
At 31 December 2023 - - - -

6. STOCKS
31.12.24 31.12.23
£    £   
Finished goods 89,113 169,137

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 582,857 988,600

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 8,238 3,371
Amounts owed to group undertakings 18,913 746,597
Taxation and social security 279,499 362,311
Other creditors 1,046 3,470
307,696 1,115,749

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

The Report of the Auditors was unqualified.

Adele Lawton (Senior Statutory Auditor)
for and on behalf of Lawton Bradford Accountants Ltd

HARMONIC DRIVE UK LIMITED (REGISTERED NUMBER: 05125966)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

10. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £96,318.75 (2023: £5,254) of which £21,015 (2023:
£5,254) is due within one year.

11. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Harmonic Drive SE, a company incorporated in Germany.The
parent company's registered office address is Hoenbergstraße 1465555 Limburg/Lahn, Germany.
The ultimate parent company of the Harmonic Drive group is Harmonic Drive Systems Inc, a company
incorporated in Japan. The company's registered office address is Believe Omori, 7F, 6-25-3 Minami-Oi,
Shinagawa-ku, Tokyo 140-0013, Japan.