REGISTERED NUMBER: 10481675 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

NR Electric UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J Li

Mr W Luo

Mr W Yan

REGISTERED OFFICE:

Unit 10, Woodrow Business Centre

Woodrow Way,

Irlam

Manchester

M44 6NN

REGISTERED NUMBER:

10481675 (England and Wales)

AUDITORS:

Sterling Partners Limited

Chartered Accountants

Statutory Auditors

2nd Floor, Grove House

774-780 Wilmslow Road

Didsbury

Manchester

Greater Manchester

M20 2DR

FIXED ASSETS

Tangible assets

5

43,048

48,893

CURRENT ASSETS

Debtors

6

225,835

491,715

Cash at bank

2,100,853

2,029,814

2,326,688

2,521,529

CREDITORS

Amounts falling due within one year

7

(49,085

)

(34,243

)

NET CURRENT ASSETS

2,277,603

2,487,286

TOTAL ASSETS LESS CURRENT LIABILITIES

2,320,651

2,536,179

PROVISIONS FOR LIABILITIES

8

-

(9,290

)

NET ASSETS

2,320,651

2,526,889

CAPITAL AND RESERVES

Called up share capital

9

1,932,624

1,932,624

Retained earnings

388,027

594,265

SHAREHOLDERS' FUNDS

2,320,651

2,526,889

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 19 September 2025 and were signed on its behalf by:

Mr J Li - Director

1.	STATUTORY INFORMATION

NR Electric 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.

NR Electric Co.,Ltd is the parent company of NR Electric UK Limited. The registered office is 69 Suyuan Avenue, Jiangning, Nanjing 211102, China.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and form the rendering of services.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Construction contracts

When the outcome of a contract can be measured reliably, the entity will recognise both income and costs by reference to the percentage of completion of the contract. If the outcome cannot be reliably measured, all costs are expensed and revenue is only recognised to the extent that it is probable that costs are recoverable.

When it is probable that a loss will occur on a contract, this is recognised in full immediately as an onerous contract provision.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

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.

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

The financial statements are presented in Sterling, which is also the functional currency of the Company.

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the balance sheet date. All differences are taken to the statement of comprehensive income.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 9 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

9,137

8,763

69,734

87,634

Additions

365

-

1,457

1,822

At 31 December 2024

9,502

8,763

71,191

89,456

DEPRECIATION

At 1 January 2024

2,852

4,987

30,902

38,741

Charge for year

998

566

6,103

7,667

At 31 December 2024

3,850

5,553

37,005

46,408

NET BOOK VALUE

At 31 December 2024

5,652

3,210

34,186

43,048

At 31 December 2023

6,285

3,776

38,832

48,893

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

12,067

12,624

Retentions

-

452,377

Tax

2,533

-

VAT

120,241

4,717

Deferred tax asset

51,783

-

Prepayments

39,211

21,997

225,835

491,715

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Payments on account

-

9,402

Trade creditors

27,263

1,148

Tax

-

2,533

Social security and other taxes

8,758

8,259

Accrued expenses

13,064

12,901

49,085

34,243

8.	PROVISIONS FOR LIABILITIES

2023

£

Deferred tax

Accelerated capital allowances

9,290

Deferred

tax

£

Balance at 1 January 2024

9,290

Accelerated capital allowances

1,454

Tax losses

(62,527

)

Balance at 31 December 2024

(51,783

)

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,932,624

Ordinary

1

1,932,624

1,932,624

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

The Report of the Auditors was unqualified.

Mir Seyed Mokhtassi BSc FCA CTA (Senior Statutory Auditor)

for and on behalf of Sterling Partners Limited

11.	PENSION COMMITMENTS

The company operate a defined contribution pension scheme.

12.	OTHER FINANCIAL COMMITMENTS

As at 31st December 2024, the company had outstanding commitments in respect of operating leases totalling £110,552 (2023: £9,049).

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is NARI Technology Co. Ltd.