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Registration number: 1926845

Hitek Electronic Materials Limited
Filleted Financial Statements
for the Year Ended 30 June 2025

Hitek Electronic Materials Limited

Registration number: 1926845
Balance Sheet as at 30 June 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 1,305,641 | 1,002,118
Investments | 5 | 5,000 | 5,000
|  | 1,310,641 | 1,007,118
Current assets |  |  |
Stocks |  | 1,473,833 | 1,266,756
Debtors | 6 | 1,862,216 | 1,705,699
Cash at bank and in hand |  | 1,640,214 | 1,211,536
|  | 4,976,263 | 4,183,991
Creditors: Amounts falling due within one year | 7 | (3,485,039) | (2,434,060)
Net current assets |  | 1,491,224 | 1,749,931
Total assets less current liabilities |  | 2,801,865 | 2,757,049
Creditors: Amounts falling due after more than one year | 7 | - | (27,755)
Provisions for liabilities |  | (141,796) | (75,219)
Net assets |  | 2,660,069 | 2,654,075
Capital and reserves |  |  |
Called up share capital | 9 | 32,105 | 32,105
Share premium reserve |  | 45,296 | 45,296
Capital redemption reserve |  | 2 | 2
Retained earnings |  | 2,582,666 | 2,576,672
Shareholders' funds |  | 2,660,069 | 2,654,075

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 prepared and 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 Board on 13 November 2025 and signed on its behalf by:

Mr J A Lawton Director |  |

Hitek Electronic Materials Limited

Notes to the Financial Statements for the Year Ended 30 June 2025

1 | General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
15 Wentworth Road
South Park Industrial Estate
Scunthorpe
North Lincolnshire
DN17 2AX
Registration number: 1926845.

2 | 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.

Group accounts not prepared

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements on the grounds that it is a small sized group.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 13 November 2025 was Robert Smith BSc FCA, who signed for and on behalf of RNS Chartered Accountants.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Hitek Electronic Materials Limited

Notes to the Financial Statements for the Year Ended 30 June 2025

Tax

The tax expense for the period comprises current and deferred 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 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 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 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Expenditure on leasehold property | straight line on cost over 20 years
Motor vehicles | straight line on cost over 4 years
Plant and machinery | straight line on cost over 5 years
Freehold land and buildings | No depreciation is provided as residual value is equivalent to cost and so any depreciation is immaterial

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

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 goods sold in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured less a 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.

Hitek Electronic Materials Limited

Notes to the Financial Statements for the Year Ended 30 June 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Hitek Electronic Materials Limited

Notes to the Financial Statements for the Year Ended 30 June 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year was 33 (2024 - 33).

4 | Tangible assets

| Land and buildings £ | Motor vehicles £ | Plant and machinery £ | Total £
Cost or valuation
At 1 July 2024 | 831,123 | 363,078 | 555,515 | 1,749,716
Additions | 210,818 | 213,551 | 77,514 | 501,883
Disposals | - | (140,691) | - | (140,691)
At 30 June 2025 | 1,041,941 | 435,938 | 633,029 | 2,110,908
Depreciation
At 1 July 2024 | 117,953 | 241,439 | 388,206 | 747,598
Charge for the year | 30,281 | 97,370 | 61,696 | 189,347
Eliminated on disposal | - | (131,678) | - | (131,678)
At 30 June 2025 | 148,234 | 207,131 | 449,902 | 805,267
Carrying amount
At 30 June 2025 | 893,707 | 228,807 | 183,127 | 1,305,641
At 30 June 2024 | 713,170 | 121,639 | 167,309 | 1,002,118

Included within the net book value of land and buildings above is £1,011,660 (2024 - £804,812) in respect of freehold land and buildings and £(117,953) (2024 - £(91,642)) in respect of long leasehold land and buildings.

Hitek Electronic Materials Limited

Notes to the Financial Statements for the Year Ended 30 June 2025

5 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 5,000 | 5,000

Subsidiaries | £
Cost or valuation
At 1 July 2024 | 5,000
At 30 June 2025 | 5,000
Carrying amount
At 30 June 2025 | 5,000
At 30 June 2024 | 5,000

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 1,617,521 | 1,462,579
Amounts owed by related parties | 226,646 | 166,646
Other debtors | 18,049 | 76,474
| 1,862,216 | 1,705,699

Hitek Electronic Materials Limited

Notes to the Financial Statements for the Year Ended 30 June 2025

7 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 8 | 27,755 | 5,438
Trade payables |  | 787,871 | 718,594
Amounts due to related parties |  | 1,728,191 | 888,991
Social security and other taxes |  | 343,307 | 505,403
Other payables |  | 597,915 | 315,634
|  | 3,485,039 | 2,434,060

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 8 | - | 27,755

8 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Hire purchase contracts | 27,755 | 5,438

Non-current loans and borrowings

| 2025 £ | 2024 £
Hire purchase contracts | - | 27,755

Secured liabilities
HP & finance liabilities are secured against the assets to which they relate.

9 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 32,105 | 32,105 | 32,105 | 32,105