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Company No: 07261346 (England and Wales)

UKHIFU LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

UKHIFU LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

UKHIFU LIMITED

COMPANY INFORMATION

For the financial year ended 31 May 2024
UKHIFU LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2024
DIRECTORS N Sangani
R Yang
SECRETARY N Sangani
REGISTERED OFFICE Unit 10 Mendip View Business Park Bristol Road
Hewish
Weston-Super-Mare
BS24 6RX
United Kingdom
COMPANY NUMBER 07261346 (England and Wales)
ACCOUNTANT S&W Partners LLP
Onslow House
Onslow Street
Guildford
GU1 4TL
UKHIFU LIMITED

BALANCE SHEET

As at 31 May 2024
UKHIFU LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 611 996
611 996
Current assets
Stocks 178,802 178,802
Debtors 5 2,490,139 2,035,407
Cash at bank and in hand 51,964 20,731
2,720,905 2,234,940
Creditors: amounts falling due within one year 6 ( 2,464,289) ( 1,982,264)
Net current assets 256,616 252,676
Total assets less current liabilities 257,227 253,672
Net assets 257,227 253,672
Capital and reserves
Called-up share capital 1 1
Profit and loss account 257,226 253,671
Total shareholders' funds 257,227 253,672

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of UKHIFU Limited (registered number: 07261346) were approved and authorised for issue by the Board of Directors on 12 August 2025. They were signed on its behalf by:

N Sangani
Director
UKHIFU LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
UKHIFU LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

UKHIFU Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 10 Mendip View Business Park Bristol Road, Hewish, Weston-Super-Mare, BS24 6RX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of UKHIFU Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The directors have carefully reviewed the future prospects of the company and its future cash flows, therefore, having assessed this, the company meets its day to day working capital requirements through continuing financial support of the parent company.

The directors have considered the financial position of the company at 31 May 2024 and on the basis that the loan made to the company will not be repaid until the company has sufficient funds to do so, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future being at least the next 12 months from signing of these financial statements.

For this reason the directors continue to adopt the going concern basis for the preparation of the financial statements. Accordingly, these financial statements do not include any adjustments to the carrying amount or classification of assets and liabilities that would result if the company was unable to continue as a going concern

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise on monetary items.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Revenue arising from the provision of services is recognised by reference to the stage of completion as follows:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
- the company has transferred the significant risks and rewards of ownership to the buyer;
- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of turnover can be measured reliably;
- it is probable that the company will receive the consideration due under the transaction;and
-the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

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. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings depreciated over the life of the lease
Plant and machinery etc. 3 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

2. Critical accounting judgements and key sources of estimation uncertainty

No significant judgements have had to be made by the directors in preparing these financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 2

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 June 2023 24,079 51,123 75,202
At 31 May 2024 24,079 51,123 75,202
Accumulated depreciation
At 01 June 2023 24,079 50,127 74,206
Charge for the financial year 0 385 385
At 31 May 2024 24,079 50,512 74,591
Net book value
At 31 May 2024 0 611 611
At 31 May 2023 0 996 996

5. Debtors

2024 2023
£ £
Trade debtors 480,483 198,021
Amounts owed by Group undertakings 2,008,293 1,837,386
Deferred tax asset 1,363 0
2,490,139 2,035,407

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 28,886 2,383
Amounts owed to Group undertakings 674,107 480,154
Accruals and deferred income 183,156 89,592
Corporation tax 17,570 53,572
Other taxation and social security 122,016 79,996
Other creditors 1,438,554 1,276,567
2,464,289 1,982,264

7. Deferred tax

2024 2023
£ £
At the beginning of financial year 0 0
Credited to the Profit and Loss Account 1,363 0
At the end of financial year 1,363 0

The deferred taxation balance is made up as follows:

2024 2023
£ £
Other timing differences 1,363 0

8. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 0 2,558

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 10,217 0
Pension cost charge represents contributions payable by the company to the fund and amounted 7,661 6,365
17,878 6,365

9. Ultimate controlling party

Parent Company:

The ultimate parent undertaking and controlling party is SonaCare Medical LLC by virtue of its shareholding. SonaCare Medical LLC is incorporated in the United States of America and its principal address is 10130 Perimeter Parkway, Suite 250, Charlotte, NC, 28216.