Registration number:
Hamlin Electronics Europe Limited
for the Year Ended 31 December 2024
Hamlin Electronics Europe Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Hamlin Electronics Europe Limited
Company Information
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Directors |
A Golland E R Van Erk |
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Company secretary |
R D Van Hal |
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Registered office |
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Auditors |
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Hamlin Electronics Europe Limited
(Registration number: 00691700)
Balance Sheet as at 31 December 2024
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2023 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets/(liabilities) |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds/(deficit) |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Hamlin Electronics Europe Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
On 25 March 2024 the company received a capital contribution in cash on new shares for GBP 1.9M which the company used to fully repay the loan payable to Littelfuse Netherlands B.V., ensuring the company is now in a net asset position. The service income and the operating income increased further in 2024, primarily due to the increase in the number of employees to 16, and as the majority of the costs are passed through, this will help to ensure that the company remains profitable and will continue to generate positive cashflows sufficient to meet its future obligations. Therefore, the directors continue to adopt the going concern basis in preparing the financial statements.
Audit report
Revenue recognition
Turnover represents research and development, quality and IT services charged to associated businesses at cost plus 10%, exclusive of Value Added Tax. Turnover is recognised as the company performs its obligations under its arrangements with the associated businesses.
Hamlin Electronics Europe Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Foreign currency transactions and balances
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Hamlin Electronics Europe Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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Prepayments and accrued income |
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Total current trade and other debtors |
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Creditors |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Other creditors |
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Accrued expenses |
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Hamlin Electronics Europe Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Due after one year |
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Other non-current financial liabilities |
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On 25 March 2024, the company received a capital contribution in cash for new shares of £1.9M. The Company used this cash to fully repay the loan payable to Littelfuse Netherlands B.V.
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The most senior parent entity producing publicly available financial statements is
VP Chief Accounting Officer, Littelfuse Inc.
8755 West Higgins Road Suite 500
Chicago Illinois 60631