Innosilicon Technology UK Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 13685859 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Innosilicon Technology UK Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Ms X Lin

Ms K Long

REGISTERED OFFICE:

Flat 74 Woodlark Apartments

1 Damsel Walk

London

NW9 7FA

REGISTERED NUMBER:

13685859 (England and Wales)

AUDITORS:

Shinewing Wilson Accountancy Limited

Chartered Certified Accountants

and Statutory Auditors

9 St Clare Street

London

EC3N 1LQ

FIXED ASSETS

Tangible assets

4

49,498

50,325

CURRENT ASSETS

Debtors

5

16,682

1,025,728

Cash at bank

825,515

210,202

842,197

1,235,930

CREDITORS

Amounts falling due within one year

6

571,929

1,013,463

NET CURRENT ASSETS

270,268

222,467

TOTAL ASSETS LESS CURRENT
LIABILITIES

319,766

272,792

PROVISIONS FOR LIABILITIES

12,375

9,562

NET ASSETS

307,391

263,230

CAPITAL AND RESERVES

Called up share capital

200,000

Retained earnings

107,391

63,230

307,391

263,230

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 9 September 2025 and were signed on its behalf by:

Ms K Long - Director

1.	STATUTORY INFORMATION

Innosilicon Technology UK 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.

Going concern

At the time of approving the financial statements, the dìrector has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the dírector continues to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for work provided in the normal course of business, net of discounts, VAT and other sales related taxes.

The company provides research and development services on a continuous basis to, and under the general direction of, its parent company, in accordance with the terms of a signed agreement/contract. Accordingly, revenue receivable from the parent company is recognised on a straight-line basis over the specified period.

Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 20%

Fixture & fittings - 20%

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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Share capital

Financial instruments issued by the company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset.

The company's ordinary shares are classified as equity instruments.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 January 2024

6,684

71,081

77,765

Additions

-

14,792

At 31 December 2024

6,684

85,873

92,557

DEPRECIATION

At 1 January 2024

1,560

25,880

27,440

Charge for year

1,336

14,283

15,619

At 31 December 2024

2,896

40,163

43,059

NET BOOK VALUE

At 31 December 2024

3,788

45,710

49,498

At 31 December 2023

5,124

45,201

50,325

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Amounts owed by group undertakings

-

960,189

Other debtors

16,682

65,539

16,682

1,025,728

Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand, the full amounts have been settled during the year.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

-

2,654

Amounts owed to group undertakings

440,933

794,587

Taxation and social security

64,112

127,710

Other creditors

66,884

88,512

571,929

1,013,463

Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

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

The Report of the Auditors was unqualified.

Nijendra Dhungana FCCA (Senior Statutory Auditor)

for and on behalf of Shinewing Wilson Accountancy Limited

8.	RELATED PARTY DISCLOSURES

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.

9.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Innosilicon Mircoelectronics (ZhuHai) Co., Ltd. The ultimate parent company, Innosilicon Technology (Beijing) Co., Ltd.

Mr Hai Ao owns 42.71% of Innosilicon Technology (Beijing) Co., Ltd., who is less than 50%.

There is no ultimate controlling person.