REGISTERED NUMBER: 04286911 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Ecomal UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A Dziadur

D Sandmann

SECRETARY:

J A C Sjoberg

REGISTERED OFFICE:

3 Sadler Court

Lincoln

LN6 3RG

REGISTERED NUMBER:

04286911 (England and Wales)

SENIOR STATUTORY AUDITOR:

Kevin Shotton BA BFP FCA

AUDITORS:

Clive Owen LLP

Chartered Accountants

& Statutory Auditors

140 Coniscliffe Road

Darlington

County Durham

DL3 7RT

FIXED ASSETS

Intangible assets

4

-

560,223

Tangible assets

5

4,188

8,646

Investments

6

2,951,193

1,079,089

2,955,381

1,647,958

CURRENT ASSETS

Debtors

7

2,750,433

2,777,016

Cash in hand

2,956,663

1,971,979

5,707,096

4,748,995

CREDITORS

Amounts falling due within one year

8

(7,137,749

)

(8,063,072

)

NET CURRENT LIABILITIES

(1,430,653

)

(3,314,077

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,524,728

(1,666,119

)

PROVISIONS FOR LIABILITIES

10

(1,047

)

(2,161

)

NET ASSETS/(LIABILITIES)

1,523,681

(1,668,280

)

CAPITAL AND RESERVES

Called up share capital

11

50,000

50,000

Capital contribution

12

1,500,000

1,500,000

Retained earnings

12

(26,319

)

(3,218,280

)

SHAREHOLDERS' FUNDS

1,523,681

(1,668,280

)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2025 and were signed on its behalf by:

D Sandmann - Director

1.	STATUTORY INFORMATION

Ecomal 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.

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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same financial statements.

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future and meet its liabilities as they fall due, for a period of at least twelve months from the date of approval of these financial statements.

At the balance sheet date the company had net current liabilities of £1,430,653 (2023: £3,314,077) and net assets of £1,523,681 (2023: net liabilities £1,668,280), including net amounts owed to other group undertakings of £5,374,605 (2023: £5,869,596).

The directors have prepared forecasts for a period to 31 December 2025. The company meets its day to day working capital requirements through availability of cash balances, intercompany funding and continuing financial support from the ultimate parent undertaking, Vishay Intertechnology Inc, should additional liquidity be necessary, covering a period of at least to that of 31 December 2026.

In view of the circumstance referred to above the directors are satisfied that the financial support will continue to be available to the company in the foreseeable future. Accordingly, the directors of the company believe that it is appropriate to prepare the financial statements on a going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about Ecomal UK Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Vishay Intertechnology Inc, 63 Lancaster Avenue, Malvern, PA 19355-2120, United States of America.

Related party exemption

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.

Significant judgements and estimates

The preparation of the Company's financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date, and the amounts reported for revenues and expenses during the period. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from the estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised when the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The key areas requiring judgements and estimates include:

Debtor recoverability - the Company estimates the recoverable value of the debtors, including any group debtors. On assessing the debtor for potential impairment management consider factors such as the ageing profile and historical experience. The value of the group debtor balances are disclosed within note 10.

Impairment of intangible assets - the Company recognises intangible assets held at cost less amortisation charges and estimates their useful economic life. The useful economic life and residual value is reassessed regularly, alongside any indicators of impairment relating to the asset. The carrying amount of the assets are disclosed within note 7.

Turnover

Turnover, which is stated net of value added tax, represents amounts derived from the provision of goods, usually on delivery and invoiced to third parties, mainly within the United Kingdom.

Turnover is attributable to one continuing activity, the sale of electronic components.

Interest income is recognised on an accruals basis.

Goodwill

Goodwill is the difference between the cost of an acquired entity and the aggregate of the fair value of that entity's identifiable assets and liabilities.

Goodwill is being amortised over its expected useful economic life, which is five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

An impairment loss has been recognised in the Income Statement, following an assessment at the Balance Sheet date indicating the recoverable amount was less than its carrying value.

Customer lists are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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

Computer equipment

-

10% - 33% on cost

Tangible fixed assets are held at cost less accumulated depreciation.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

Financial instruments

Basic financial instruments are recognised at amortised costs with changes recognised in the income statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Customer

Goodwill

lists

Totals

£

£

£

COST

At 1 January 2024

591,677

1,182,692

1,774,369

Impairments

-

(435,729

)

(435,729

)

At 31 December 2024

591,677

746,963

1,338,640

AMORTISATION

At 1 January 2024

591,677

622,469

1,214,146

Amortisation for year

-

124,494

124,494

At 31 December 2024

591,677

746,963

1,338,640

NET BOOK VALUE

At 31 December 2024

-

-

-

At 31 December 2023

-

560,223

560,223

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

and 31 December 2024

36,214

DEPRECIATION

At 1 January 2024

27,568

Charge for year

4,458

At 31 December 2024

32,026

NET BOOK VALUE

At 31 December 2024

4,188

At 31 December 2023

8,646

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

1,079,089

Additions

1,872,104

At 31 December 2024

2,951,193

NET BOOK VALUE

At 31 December 2024

2,951,193

At 31 December 2023

1,079,089

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Vishay Limited

Registered office: England

Nature of business: Holding company

%

Class of shares:

holding

Ordinary

100.00

2024

2023

£

£

Aggregate capital and reserves

3,399,287

4,480,195

Profit/(loss) for the year

446,988

(109,301

)

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,484,233

759,861

Amounts owed by group undertakings

1,246,542

1,926,332

Other debtors

5,146

66,648

Prepayments and accrued income

14,512

24,175

2,750,433

2,777,016

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

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

2,649

3,942

Amounts owed to group undertakings

6,621,147

7,795,928

Corporation tax

-

28,828

Taxation and social security

362,539

164,153

Other creditors

3,234

-

Accruals and deferred income

148,180

70,221

7,137,749

8,063,072

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

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

34,500

34,500

Between one and five years

-

34,500

34,500

69,000

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

1,047

2,161

Deferred

tax

£

Balance at 1 January 2024

2,161

Accelerated capital allowances

(1,114

)

Balance at 31 December 2024

1,047

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

50,000

Ordinary

£1

50,000

50,000

12.

RESERVES

Retained

Capital

earnings

contribution

Totals

£

£

£

At 1 January 2024

(3,218,280

)

1,500,000

(1,718,280

)

Profit for the year

3,191,961

3,191,961

At 31 December 2024

(26,319

)

1,500,000

1,473,681

Retained earnings - this reserve records the amount of profits and losses less any distribution of dividends.

Capital contributions - this reserve records additional funds contributed by the parent undertaking.

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

The Report of the Auditors was unqualified.

Kevin Shotton BA BFP FCA (Senior Statutory Auditor)

for and on behalf of Clive Owen LLP

14.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted £37,819 (2023: £34,174). No outstanding contributions were payable to the fund at the balance sheet date.

15.	ULTIMATE PARENT UNDERTAKING

The ultimate parent undertaking and controlling party is Vishay Intertechnology Inc, which prepares group financial statements. The registered office of Vishay Intertechnology Inc is 63 Lancaster Avenue, Malvern, PA 19355-2120, United States of America.