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REGISTERED NUMBER: 03237940 (England and Wales)










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: S Ishikawa
K Hishiki



SECRETARY: K Hishiki



REGISTERED OFFICE: Unit 3, Barberry Court
Parkway
Centrum 100
Burton-on-Trent
Staffordshire
DE14 2UE



REGISTERED NUMBER: 03237940 (England and Wales)



SENIOR STATUTORY AUDITOR: David Meadows FCA



AUDITORS: Bourne & Co
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 28,970 34,199

CURRENT ASSETS
Stocks 240,934 159,326
Debtors 5 1,107,664 513,680
Cash at bank 2,134,189 2,241,380
3,482,787 2,914,386
CREDITORS
Amounts falling due within one year 6 1,295,582 629,771
NET CURRENT ASSETS 2,187,205 2,284,615
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,216,175

2,318,814

PROVISIONS FOR LIABILITIES 7,243 8,550
NET ASSETS 2,208,932 2,310,264

CAPITAL AND RESERVES
Called up share capital 8 50,000 50,000
Retained earnings 2,158,932 2,260,264
SHAREHOLDERS' FUNDS 2,208,932 2,310,264

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 15 May 2025 and were signed on its behalf by:





K Hishiki - Director


Shinwatec Limited (Registered number: 03237940)

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

1. STATUTORY INFORMATION

Shinwatec 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 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.

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 5 (2023 - 4 ) .

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 39,431 10,226 49,657
Additions 807 - 807
At 31 December 2024 40,238 10,226 50,464
DEPRECIATION
At 1 January 2024 5,633 9,825 15,458
Charge for year 5,880 156 6,036
At 31 December 2024 11,513 9,981 21,494
NET BOOK VALUE
At 31 December 2024 28,725 245 28,970
At 31 December 2023 33,798 401 34,199

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 129,214 181,794
Supplier payments on account 842 -
Amounts owed by group undertakings 11,271 114,492
Other debtors 5,615 3,349
Social security and other taxes 29,806 39,573
Taxation 11,644 -
Prepayments and
deferred expenditure 919,272 174,472
1,107,664 513,680

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 171,117 345,101
Taxation - 48,619
Payroll taxes 11,520 8,983
Other creditors 2,165 1,206
Income in advance 1,086,421 204,023
Accrued expenses 24,359 21,839
1,295,582 629,771

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 28,734 11,109
Between one and five years 31,100 9,529
59,834 20,638

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
50,000 Ordinary £1 50,000 50,000

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

The Report of the Auditors was unqualified.

David Meadows FCA (Senior Statutory Auditor)
for and on behalf of Bourne & Co

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.