| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| Shinwatec Limited |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| Shinwatec Limited |
| Shinwatec Limited (Registered number: 03237940) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Shinwatec Limited |
| Company Information |
| for the Year Ended 31 December 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Statutory Auditors |
| 6 Lichfield Street |
| Burton-on-Trent |
| Staffordshire |
| DE14 3RD |
| Shinwatec Limited (Registered number: 03237940) |
| Balance Sheet |
| 31 December 2024 |
| 31.12.24 | 31.12.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Shinwatec Limited (Registered number: 03237940) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| Shinwatec Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is recognised to the extent that itis probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured at the fair value of consideration received or receivable net of VAT, trade discounts and rebates. |
| Revenue is recognised once goods have been delivered to, accepted by, and approval received from the customer, for all goods received and services provided to them. |
| Tangible fixed assets |
| Tangible fixed assets are included at cost less depreciation and impairment. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Plant and machinery etc - at varying rates on cost |
| Stocks |
| Stocks have been valued at the lower of cost and estimated selling price less costs to sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for obsolete and slow-moving stock where appropriate. |
| 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. |
| Shinwatec Limited (Registered number: 03237940) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Foreign currencies |
| Invoices received in foreign currencies are recorded at a nominal rate. Payments of invoices are recorded at the rate ruling at the date of payment. Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences, including those arising from the use of a nominal rate, are accounted for within finance costs due to the nature of the transactions that give rise to them. |
| 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. |
| Leases |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term, unless the rental payments are structured to increase in line with expected general inflation, in which case the company recognises annual rent expense equal to amounts owed to the lessor. |
| Debtors |
| Short term debtors are measured at transaction price less any impairment. Any losses arising from impairment are recognised in profit or loss. |
| Creditors |
| Short term creditors are measured at transaction price. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Shinwatec Limited (Registered number: 03237940) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and |
| machinery | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2024 |
| Additions |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Trade debtors |
| Supplier payments on account | 842 | - |
| Amounts owed by group undertakings |
| Other debtors |
| Social security and other taxes | 29,806 | 39,573 |
| Taxation |
| Prepayments and |
| deferred expenditure |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Trade creditors |
| Taxation |
| Payroll taxes |
| Other creditors |
| Income in advance |
| Accrued expenses |
| Shinwatec Limited (Registered number: 03237940) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Within one year |
| Between one and five years |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.24 | 31.12.23 |
| value: | £ | £ |
| Ordinary | £1 | 50,000 | 50,000 |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | ULTIMATE CONTROLLING PARTY |
| The immediate parent company and ultimate controlling party is Shinwa Co., Ltd, a company registered in Japan. Consolidated accounts are prepared for Shinwa Co., Ltd and these can be obtained from 2-9-3, Naeshiro, Moriyama-ku, Nagoya, Aichi, 463-0046, Japan. |