Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-31 2025-03-31 false true true true false true true true true true true true true true Stanley Electric Holding Europe Co true Stanley Electric Co Limited 2024-04-01 Sale of goods 14 14 04071741 2024-04-01 2025-03-31 04071741 2023-04-01 2024-03-31 04071741 2025-03-31 04071741 2024-03-31 04071741 2023-04-01 04071741 6 2024-04-01 2025-03-31 04071741 6 2023-04-01 2024-03-31 04071741 d:CompanySecretary1 2024-04-01 2025-03-31 04071741 d:Director1 2024-04-01 2025-03-31 04071741 d:Director3 2024-04-01 2025-03-31 04071741 d:Director4 2024-04-01 2025-03-31 04071741 d:Director5 2024-04-01 2025-03-31 04071741 d:Director6 2024-04-01 2025-03-31 04071741 d:Director7 2024-04-01 2025-03-31 04071741 d:Director7 2025-03-31 04071741 d:RegisteredOffice 2024-04-01 2025-03-31 04071741 e:Buildings e:LongLeaseholdAssets 2024-04-01 2025-03-31 04071741 e:Buildings e:LongLeaseholdAssets 2025-03-31 04071741 e:Buildings e:LongLeaseholdAssets 2024-03-31 04071741 e:OfficeEquipment 2024-04-01 2025-03-31 04071741 e:OfficeEquipment 2025-03-31 04071741 e:OfficeEquipment 2024-03-31 04071741 e:OfficeEquipment e:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 04071741 e:ComputerEquipment 2024-04-01 2025-03-31 04071741 e:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 04071741 e:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 04071741 e:ComputerSoftware 2024-04-01 2025-03-31 04071741 e:ComputerSoftware 2025-03-31 04071741 e:ComputerSoftware 2024-03-31 04071741 e:IntangibleAssetsOtherThanGoodwill 2025-03-31 04071741 e:IntangibleAssetsOtherThanGoodwill 2024-03-31 04071741 e:CurrentFinancialInstruments 2025-03-31 04071741 e:CurrentFinancialInstruments 2024-03-31 04071741 e:Non-currentFinancialInstruments 3 2025-03-31 04071741 e:Non-currentFinancialInstruments 3 2024-03-31 04071741 e:CurrentFinancialInstruments e:WithinOneYear 2025-03-31 04071741 e:CurrentFinancialInstruments e:WithinOneYear 2024-03-31 04071741 e:Non-currentFinancialInstruments e:AfterOneYear 2025-03-31 04071741 e:Non-currentFinancialInstruments e:AfterOneYear 2024-03-31 04071741 f:UnitedKingdom 2024-04-01 2025-03-31 04071741 f:UnitedKingdom 2023-04-01 2024-03-31 04071741 f:RestEuropeOutsideUK 2024-04-01 2025-03-31 04071741 f:RestEuropeOutsideUK 2023-04-01 2024-03-31 04071741 f:RestWorldOutsideUK 2024-04-01 2025-03-31 04071741 f:RestWorldOutsideUK 2023-04-01 2024-03-31 04071741 e:UKTax 2024-04-01 2025-03-31 04071741 e:UKTax 2023-04-01 2024-03-31 04071741 e:ShareCapital 2025-03-31 04071741 e:ShareCapital 2024-03-31 04071741 e:ShareCapital 2023-04-01 04071741 e:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 04071741 e:RetainedEarningsAccumulatedLosses 2025-03-31 04071741 e:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 04071741 e:RetainedEarningsAccumulatedLosses 2024-03-31 04071741 e:RetainedEarningsAccumulatedLosses 2023-04-01 04071741 e:TaxLossesCarry-forwardsDeferredTax 2025-03-31 04071741 e:TaxLossesCarry-forwardsDeferredTax 2024-03-31 04071741 d:OrdinaryShareClass1 2024-04-01 2025-03-31 04071741 d:OrdinaryShareClass1 2025-03-31 04071741 d:OrdinaryShareClass1 2024-03-31 04071741 d:FRS101 2024-04-01 2025-03-31 04071741 d:Audited 2024-04-01 2025-03-31 04071741 d:FullAccounts 2024-04-01 2025-03-31 04071741 d:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04071741 e:FurtherContractType1ComponentTotalContractTypes 2025-03-31 04071741 e:FurtherContractType2ComponentTotalContractTypes 2024-03-31 04071741 e:FurtherContractType1ComponentTotalContractTypes e:WithinOneYear 2025-03-31 04071741 e:FurtherContractType1ComponentTotalContractTypes e:WithinOneYear 2024-03-31 04071741 e:FurtherContractType1ComponentTotalContractTypes e:BetweenOneFiveYears 2025-03-31 04071741 e:FurtherContractType1ComponentTotalContractTypes e:BetweenOneFiveYears 2024-03-31 04071741 e:OverTime 2024-04-01 2025-03-31 04071741 e:OverTime 2023-04-01 2024-03-31 04071741 2 2024-04-01 2025-03-31 04071741 e:CurrentFinancialInstruments 7 2025-03-31 04071741 e:CurrentFinancialInstruments 7 2024-03-31 04071741 e:FinanceLeases e:WithinOneYear 2025-03-31 04071741 e:FinanceLeases e:WithinOneYear 2024-03-31 04071741 e:FinanceLeases e:BetweenOneFiveYears 2025-03-31 04071741 e:FinanceLeases e:BetweenOneFiveYears 2024-03-31 04071741 e:FinanceLeases 2025-03-31 04071741 e:FinanceLeases 2024-03-31 04071741 g:Euro 2024-04-01 2025-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 04071741 STANLEY ELECTRIC (U.K.) COMPANY LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
STANLEY ELECTRIC (U.K.) COMPANY LIMITED CONTENTS
| Page
Company information | 1
Strategic report | 2 - 3
Directors' report | 4 - 5
Directors' responsibilities statement | 6
Independent auditor's report | 7 - 10
Profit and loss account | 11
Balance sheet | 12
Statement of changes in equity | 13
Notes to the financial statements | 14 - 30
STANLEY ELECTRIC (U.K.) COMPANY LIMITED COMPANY INFORMATION
Directors | I Evans
| H Kida
| H Shioda
| K Takano
| T Uesugi
Company secretary | I Evans
Registered number | 04071741
Registered office | Greenwood House
| London Road
| Bracknell
| Berkshire
| RG12 2UB
Independent auditor | Blick Rothenberg Audit LLP
| Chartered Accountants & Statutory Auditor
| 16 Great Queen Street
| Covent Garden
| London
| WC2B 5AH
Page 1
STANLEY ELECTRIC (U.K.) COMPANY LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2025 The directors present their strategic report of Stanley Electric (U.K.) Company Limited ("the Company") for the year ended 31 March 2025.
Principal activities
The company is a sales company whose principal activity is the purchase and sale of bespoke lighting products, primarily automotive vehicle lighting, light emitting diodes, sub miniature lamps and lighting application products for many industries. The company operates as a multiple tiered supplier with the majority of its sales as Tier 1. Our revenue streams can span the globe and are generated from our own efforts and from collaborations with sister companies within the group. Review of the business The majority of the company's revenue and the key foundation of our business were generated from its sales of products to the automotive industry which typically delivers significant turnovers over a substantial period of time. The balance of our revenue is related to our product sales to the manufacturers of industrial and consumer electronic products. New and unique UV products with many applications but particularly utilised for sanitation and hygiene, are now being sold and developed. This fiscal year remained impacted by the unprecedented cancellation in 2023 of 2 major automotive OEM projects very soon before their expected production start. By their very nature, the development of automotive vehicle projects can take up to 3 years from contract award until the start of the new vehicle production and consequently, the start of the revenue generation for our company. Therefore, the gap left in our business portfolio by the cancellation within a year before they were due to begin production, could not be directly and immediately replaced. However, we were successful in securing a major automotive contract, greater in value than the cancelled contracts but which will not begin to deliver revenue until the medium-term future. The extraordinary and long-lasting effects of the pandemic, the international conflicts and electronics component shortages have increased costs overall. However, the company has maintained its strict focus on its cost management but also took successful actions to receive permanent compensation from its customers. The company maintains a strong presence in the market and retains a strong cash position. A newly developed and unique product range of now contracted sanitisation applications started to show the green shoots of what we anticipate will be a significant contributor to our sales for the next fiscal year and beyond. These sales successes complimented with business development efficiency initiatives, affords the company the foundations to progress its sales revenue with new and existing customers and is therefore able to sustain its future as a going concern. Key Performance Indicators Sales: €3.2 million (a 49.8% decrease compared to the previous financial year). Profit for the financial year: €0.671 million. The position of business remains strong with net assets of €2.91 million (2024: €2.28 million). Principal risks and uncertainties Going concern risk The company's cash position is secure and it can cover its expenses for the foreseeable future. Neither the company nor the group holds assets or liabilities in either Russia or Ukraine and the directors do not anticipate any significant impact on the business in the foreseeable future. Page 2
STANLEY ELECTRIC (U.K.) COMPANY LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Sales price risk Price risk is minimised through entering into long term pricing arrangements with major customers. Purchases, are made solely from the group's parent, group undertakings and strategically aligned partners, and are also subject to long term purchasing strategies. Liquidity and cash flow risk Liquidity and cash flow risks are managed by the matching of the payment terms between our customers and our suppliers. Exchange rate risk The vast majority of the company's sales and purchases are denominated in identical currencies which provide a natural hedge against foreign exchange risk to our income. The exchange rate impact is predominantly against our locally incurred expenses. Credit risk The company maintains procedures for checking our customers credit rating using a reputable service company. The credit ratings are refreshed at least on an annual basis but can be done on an ad-hoc basis depending upon flags raised by our monthly transactional monitors. We detected no major risks in the fiscal year. Interest rate risk The company has not received any loans from nor provided any loans to any entity. Interest rate on any lease lssets are stable, constant and implicit in the terms of the lease. Russia/Ukraine War risk The Russian invasion of Ukraine, on its own, had no discernible impact to our business during the fiscal year. Our company will continue to monitor the situation, but our studies showed that we still do not have any products sourced from either of these two countries. This report was approved by the board and signed on its behalf.
H Kida Director
Date: 29 October 2025
Page 3
STANLEY ELECTRIC (U.K.) COMPANY LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 MARCH 2025 The directors present their report and the financial statements for the year ended 31 March 2025.
Directors
The directors who served during the year were:
I Evans
H Kida
H Shioda
K Takano
T Hojo (appointed 1 April 2024, resigned 31 March 2025)
On 1 April 2025, T Uesugi was appointed as a director of the company.
Disclosure of information to auditor
Each of the persons who are directors at the time when this directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the company's auditor is unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Results
The company's profit for the financial year ended 31 March 2025 amounted to €671,975 (in respect of the year ended 31 March 2024: profit of €174,247).
Research and development
The company is committed to a policy of research and development and its investment in such activities in order to maintain and promote its position for its products. The company outsources the activities to its parent company whilst taking the cost of them. Such costs are typically recorded as an expense.
Future development
New product developments in our Electronics Division continue to allow us to penetrate new markets with new customers. New major sales revenue projects from the automotive industry were successfully converted into orders with goods to be supplied in the near to medium term. These projects will provide i) replacement of the revenues and income of cancelled projects and ii) incremental revenue and income.
Going concern
Whilst the reduction of revenues and result in the financial year to 31 March 2025 were disappointing, the company's management took steps to mitigate the negative impact. The re-focussing of our initiatives and efficiencies continued during the financial year to 31 March 2025 and the company aims to deliver a significant improvement in the financial year ending 31 March 2026. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing as applicable, matters related to the going concern basis. The company still maintains a substantial unrestricted cash on hand balance and are confident the company remain well placed to withstand a protracted period of fluctuating sales activity should this occur. As such the directors are confident that the company will continue to operate as a going concern for at least the next twelve-month period. Page 4
STANLEY ELECTRIC (U.K.) COMPANY LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Financial risk management policies
The company's operations expose it to a variety of financial risks that include sales price risk, credit risk, exchange rate risk, interest rate risk, liquidity and cash flow risk and impairment risk. The policies set by the board of directors of the parent company are implemented by the company. The company has a policy and procedures manual that set out specific guidelines to manage credit risk, interest rate risk and circumstances where it would be appropriate to use financial instruments to manage these. The principal risks and uncertainties section of the Strategic Report outlines how the company manages these financial risks. Sales price risk Price risk is minimised through entering into long term pricing arrangements with major customers. Purchases are made solely from the group's parent, group undertakings and strategically aligned partners, and are also subject to long-term purchasing strategies. Liquidity and cash flow risk Liquidity and cash flow risks are managed by the matching of the payment terms between our customers and our suppliers.
Auditor
The company’s auditor, Greenback Alan LLP, ceased to operate as a registered auditor on 31 March 2025 and its business was transferred to Blick Rothenberg. Accordingly the company appointed Blick Rothenberg Audit LLP as its auditor in accordance with section 485 of the Companies Act 2006. This report was approved by the board and signed on its behalf.
H Kida Director
Date: 29 October 2025
Page 5
STANLEY ELECTRIC (U.K.) COMPANY LIMITED DIRECTORS' RESPONSIBILITIES STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 The directors are responsible for preparing the strategic report, the directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 6
STANLEY ELECTRIC (U.K.) COMPANY LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF STANLEY ELECTRIC (U.K.) COMPANY LIMITED FOR THE YEAR ENDED 31 MARCH 2025
Opinion
We have audited the financial statements of Stanley Electric (U.K.) Company Limited (the 'company') for the year ended 31 March 2025, which comprise the profit and loss account, the balance sheet, the statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’ (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: ∙give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its loss for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. Page 7
STANLEY ELECTRIC (U.K.) COMPANY LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF STANLEY ELECTRIC (U.K.) COMPANY LIMITED (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement set out on page 6, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. Page 8
STANLEY ELECTRIC (U.K.) COMPANY LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF STANLEY ELECTRIC (U.K.) COMPANY LIMITED (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ∙the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; ∙we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience; ∙we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and taxation legislation; ∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and ∙identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: ∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and ∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: ∙performed analytical procedures to identify any unusual or unexpected relationships; ∙tested a sample of journal entries to identify unusual transactions; ∙assessed whether judgements and assumptions made in determining the accounting estimates set out in note 3 were indicative of potential bias; and ∙investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: ∙agreeing financial statement disclosures to underlying supporting documentation; ∙reading the minutes of meetings of those charged with governance; ∙enquiring of management as to actual and potential litigation and claims; and ∙reviewing correspondence with HM Revenue and Customs. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Page 9
STANLEY ELECTRIC (U.K.) COMPANY LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF STANLEY ELECTRIC (U.K.) COMPANY LIMITED (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed. Jonathan Fisher (senior statutory auditor) for and on behalf of Blick Rothenberg Audit LLP Chartered Accountants Statutory Auditor 16 Great Queen Street Covent Garden London WC2B 5AH 29 October 2025 Page 10
STANLEY ELECTRIC (U.K.) COMPANY LIMITED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025
| 2025 | 2024
Note | € | €
Turnover |  | 3,237,610 | 6,452,851
Cost of sales |  | (2,075,268) | (4,636,337)
Gross profit |  | 1,162,342 | 1,816,514
Administrative expenses |  | (1,740,340) | (1,741,169)
Operating (loss)/profit | 5 | (577,998) | 75,345
Interest receivable and similar income | 6 | 57,861 | 107,608
Interest payable and similar expenses | 7 | (7,888) | (8,196)
(Loss)/profit before taxation |  | (528,025) | 174,757
Tax on (loss)/profit | 10 | 1,200,000 | (510)
Profit for the financial year |  | 671,975 | 174,247
There are no items of other comprehensive income for either the year or the prior year other than the profit for the year. Accordingly, no statement of other comprehensive income has been presented.
Page 11
|  | REGISTERED NUMBER:04071741
STANLEY ELECTRIC (U.K.) COMPANY LIMITED BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | € |  | €
Fixed assets |  |  |  |  |
Intangible assets | 11 |  | 23,751 |  | 39,585
Tangible assets | 12 |  | 182,520 |  | 93,031
|  |  | 206,271 |  | 132,616
Current assets |  |  |  |  |
Stocks | 13 | 385,409 |  | 216,899 |
Debtors: amounts falling due within one year | 14 | 2,982,270 |  | 3,320,356 |
Cash at bank and in hand |  | 160,806 |  | 197,381 |
|  | 3,528,485 |  | 3,734,636 |
Creditors: amounts falling due within one year | 15 | (737,600) |  | (1,483,206) |
Net current assets |  |  | 2,790,885 |  | 2,251,430
Total assets less current liabilities |  |  | 2,997,156 |  | 2,384,046
Creditors: amounts falling due after more than one year | 16 |  | (84,458) |  | (100,898)
Net assets |  |  | 2,912,698 |  | 2,283,148
Capital and reserves |  |  |  |  |
Called up share capital | 19 |  | 1,229,067 |  | 1,229,067
Profit and loss account |  |  | 1,683,631 |  | 1,054,081
Total equity |  |  | 2,912,698 |  | 2,283,148
The company's financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
H Kida
Director
Date: 29 October 2025
The notes on pages 14 to 30 form part of these financial statements. Page 12
STANLEY ELECTRIC (U.K.) COMPANY LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2025
| Called up share capital | Profit and loss account | Total equity
| € | € | €
At 1 April 2023 | 1,229,067 | 7,297,834 | 8,526,901
Comprehensive income for the year |  |  |
Profit for the year | - | 174,247 | 174,247
Contributions by and distributions to owners |  |  |
Dividends: Equity capital | - | (6,418,000) | (6,418,000)
At 1 April 2024 | 1,229,067 | 1,054,081 | 2,283,148
Comprehensive income for the year |  |  |
Profit for the year | - | 671,975 | 671,975
Contributions by and distributions to owners |  |  |
Dividends: Equity capital | - | (42,425) | (42,425)
At 31 March 2025 | 1,229,067 | 1,683,631 | 2,912,698
| The notes on pages 14 to 30 form part of these financial statements.
Page 13
STANLEY ELECTRIC (U.K.) COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
The company is a private company limited by share capital incorporated in the United Kingdom and domiciled in the England and Wales. The address of its registered office is Greenwood House, London Road, Bracknell, Berkshire, RG12 2UB. The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006. These financial statements are presented in Euro ("€"). The exchange rate at the balance sheet date was £1 = € 1.195 (2024: £1 = € 1.168). 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 101 'Reduced Disclosure Framework' and the Companies Act 2006. The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Financial Reporting Standard 101 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions under FRS 101: ∙the requirements of paragraphs 45(b) and 46-52 of IFRS 2 Share-based payment ∙the requirements of IFRS 7 Financial Instruments: Disclosures ∙the requirements of paragraphs 91-99 of IFRS 13 Fair Value Measurement ∙the requirement in paragraph 38 of IAS 1 'Presentation of Financial Statements' to present comparative information in respect of: - paragraph 79(a)(iv) of IAS 1; - paragraph 73(e) of IAS 16 Property, Plant and Equipment; - paragraph 118(e) of IAS 38 Intangible Assets; ∙the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements ∙the requirements of IAS 7 Statement of Cash Flows ∙the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures ∙the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member This information is included in the consolidated financial statements of Stanley Electric Co., Ltd as at 31 March 2025 and these financial statements may be obtained from Stanley Electric Co., Ltd., 2-9-13 Nakameguro, Meguro-Ku, Tokyo, 153-8636, Japan. Page 14
STANLEY ELECTRIC (U.K.) COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.3 | Going concern
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concem, disclosing as applicable, matters related to the going concern basis. The company still maintains a substantial unrestricted cash on hand balance and are confident the company remain well placed to withstand a protracted period of fluctuating sales activity should this occur. The financial position and cash requirements of the company concluded that the company was solvent and would remain solvent following the final dividend declared. As such the directors are confident that the company will continue to operate as a going concern for at least the next twelve month period.
| 2.4 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is Euros (€). Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
| 2.5 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Page 15
STANLEY ELECTRIC (U.K.) COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.5 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Office equipment, furniture and fittings | - | 20.0% - 33.3%
|  |  |  | Computer equipment | - | 33.3% - 50.0%
|  |  |  | Finance leases - IT equipment | - | 20.0%
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.6 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
| 2.7 | Leases
The company leases various properties, equipment and vehicles. Rental contracts are typically made for fixed periods but may have extension options. Contracts may contain both lease and non-lease components. The company allocates the consideration in the contract to the lease and non-lease components based on their relative stand-alone prices. Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: ∙fixed payments (including in-substance fixed payments), less any lease incentives receivable; ∙variable lease payments that are based on an index or a rate, initially measured using the index or rate as at the commencement date; ∙amounts expected to be payable by the company under residual value guarantees; ∙the exercise price of a purchase option if the company is reasonably certain to exercise that option; and ∙payments of penalties for terminating the lease, if the lease term reflects the company exercising that option. Right-of-use assets are measured at cost comprising the following: ∙the amount of the initial measurement of lease liability; ∙any lease payments made at or before the commencement date less any lease incentives received; ∙any initial direct costs; and ∙restoration costs. Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Page 16
STANLEY ELECTRIC (U.K.) COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.7 | Leases (continued)
Right-of-use assets are generally depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis. If the company is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset's useful life. Payments associated with short-term leases of equipment and vehicles and all leases of low-value assets are recognised on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less. Right-of-use assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs of disposal and value in use. Forthe purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows which are largely independent of the cash inflows from other assets or groups of assets (cash-generating units). Non-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal of the impairment at the end of each reporting period.
| 2.8 | Stocks
Inventories are stated at the lower of cost and net realisable value. Cost is determined using the first in, first-out (FIFO) method and includes transport, handling costs and other direct costs. Net realisable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses. Where necessary, provision is made for obsolete, slow moving and defective inventories.
| 2.9 | Revenue
Revenue of the company represents the sale of the goods. Revenue from the provision of sales of goods is recognised in the accounting period on the satisfaction of performance obligations, such as when the significant risks and rewards of ownership of the goods have passed to the buyer, at an amount which reflects the consideration to which the company expects to be entitled to. Revenue is measured as the fair value of the consideration, excluding discounts, rebates, value added tax and other sales taxes and gross of withholding tax. The performance obligations and consideration are identified in the contract between the company and the customer. The revenue recognition criteria in IFRS15 are applied using the following 5 step model: 1.Identify the contract(s) with the customer 2.Identify the performance obligations in the contract 3.Determine the transaction price 4.Allocate the transaction price to the performance obligations 5.Recognise revenue when, or as, each performance obligation is satisfied. Contract A contract is formed between the customer and supplier when a contract is signed by both parties and/or a purchase order is accepted with a verbaVemail communication. Performance obligations The distinct performance obligation can be readily identified by the services defined in the contract. Transaction price and allocation of transaction price to performance obligations The transaction price (being the total stated in the contract/invoice, excluding sales tax) is determined by the transfer pricing policy which is a mark up on the direct costs and an allocation of the overhead costs. Page 17
STANLEY ELECTRIC (U.K.) COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.9 | Revenue (continued)
Satisfaction of performance obligation Revenue, purely from the sales of goods, should be recognised when the sole performance obligation has been fulfilled as defined in the contract. Contract conditions can vary but are typically either "upon delivery to a designated place" or "upon collection from a Stanley location".
| 2.10 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.11 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.12 | Interest income/expense
Interest income/expense is recognised using the effective interest rate method. In calculating interest income/expense, the effective interest rate is applied to the gross carrying amount of the asset, when the asset is not impaired or to the amortised cost of the liability for interest expense. For financial assets that have been impaired after initial recognition, interest income is calculated by applying the effective interest rate to the amortised cost of the financial asset. If the asset is no longer impaired the interest income calculation reverts to the gross carrying amount. Page 18
STANLEY ELECTRIC (U.K.) COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.13 | Financial instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 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. The company’s policies for its major classes of financial assets and financial liabilities are set out below. Financial assets Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Financial liabilities Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Page 19
STANLEY ELECTRIC (U.K.) COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
|  | Financial instruments (continued)
Impairment of financial assets Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Derecognition of financial assets and financial liabilities Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Offsetting of financial assets and financial liabilities Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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. Page 20
STANLEY ELECTRIC (U.K.) COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements: 1) Impairment of trade and other receivables The company applies the IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables. To measure the expected credit losses, trade receivables have been grouped based on shared credit risk characteristics and the days past due. 2) Impairment of fixed assets The company assesses whether there is any indication that an asset may be impaired. If any such indication exists, the company estimates the recoverable amount of assets. Due to operating losses occurring in the prior periods and the current period, the company estimated the recoverable amount of assets. The recoverable amount was estimated by value in use and estimating the value in use of assets involved the following steps: a)estimating the future cash inflows and outflows to be derived from continuing use of the asset and from its ultimate disposal; and b)applying the appropriate discount rate to those future cash flows. The following elements were considered in value in use: a)cash flow projections basis on reasonable and supportable assumptions that represent management's best estimate of the range of economic conditions that will exist over the remaining useful life of the asset. Greater weight was given to external evidence; b)cash flow projections basis on the most recent financial budgets/forecasts approved by management, but excluded any estimated future cash inflows or outflows expected to arise from future restructurings or from improving or enhancing the asset's performance; c)estimation of cash flow projections beyond the period covered by the most recent budgets/forecasts by extrapolating the projections based on the budgets/forecasts using a steady or declining growth rate for subsequent years; and d)forecast period of future cash flow was determined by the remaining useful lives of assets. The Company used the discount rate based on weighted average capital cost, which was the same as the rate applied on the parent company's financial statement. 3) Realisabilitv of Deferred Tax Assets A deferred tax asset is recognised for all deductible temporary differences to the extent that it is probable that taxable profit will be available against which the deductible temporary difference can be utilized. When considering the recognition of deferred tax assets based on the possibility to earn the taxable income, the company takes into consideration all factors related to the expected future profitability (including both positive factors (information from which collection is determined to be possible) and negative factors (information from which collection is determined not to be possible)). As the company policy, the possibility to earn the future taxable income is comprehensively determined based on the quantitative indicators (collectability based on the cumulative profit or loss before tax) and the qualitative indicators. Page 21
STANLEY ELECTRIC (U.K.) COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 3.Judgments in applying accounting policies (continued) As qualitative indicators, deferred tax asset is recognised when it is probable that taxable income arises, considering the following factors and evidences for determining as positive or negative: a)Stability of the taxable income in the prior fiscal years and future prospects (including existing contracts and order confirmation); b)Business development stage; c)The fair value of the appreciated assets where taxable temporary differences arise; d)Consistency in the important points in the assumptions which were used for the other accounting estimates; e)A history of expiration of tax loss carry forward or tax credits in the prior fiscal years; f)Whether there is any unsettled circumstances which affect profit adversely; and g)Whether the occurrence of temporary differences are temporary or continuous. A deferred tax asset is recognised for the carryforward of unused tax losses and unused tax credits to the extent that it is probable that future taxable profit will be available against which the unused tax losses and unused tax credits can be utilised. The company considers the following criteria in assessing the probability that taxable profit will be available against which the unused tax losses or unused tax credits can be utilised: a)whether it is probable that the company will have taxable profits before the unused tax losses or unused tax credits expire; b)whether the unused tax losses result from identifiable causes which are unlikely to recur; and c)whether tax planning opportunities are available to the company that will create taxable profit in the period in which the unused tax losses or unused tax credits can be utilised.
4. | Turnover
Revenue recognised in the profit or loss is analysed as follows : Analysis of turnover by country of destination:
|  |  |  |  | 2025 | 2024
|  |  |  |  | € | €
| United Kingdom | 1,239,662 | 680,882
| Rest of Europe | 1,753,689 | 5,548,658
| Rest of the world | 244,259 | 223,311
|  | 3,237,610 | 6,452,851
| Analysis of turnover by category:
|  |  |  | 2025 | 2024
|  |  |  | € | €
| Sale of goods | 3,237,610 | 6,452,851
Page 22
STANLEY ELECTRIC (U.K.) COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Operating (loss)/profit
| The operating (loss)/profit is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | € | €
| Research & development charged as an expense | - | 1,500
| Depreciation of tangible fixed assets | 1,453 | 22,937
| Lease expenses for low value assets and short term leases | - | 7,632
| Amortisation of intangible assets, including goodwill | 87,698 | -
| Exchange differences | 22,269 | 59,942
| - for audit of the annual financial statements | 49,513 | 47,062
| - for non-audit services - tax compliance services | 5,850 | 5,724
6. | Interest receivable
|  |  |  |  | 2025 | 2024
|  |  |  |  | € | €
| Bank interest receivable | 57,861 | 107,608
7. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | € | €
| Interest payable on other loans | 7,888 | 8,196
8. | Directors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | € | €
| Directors' emoluments | 326,527 | 299,864
|  | 326,527 | 299,864
| The highest paid director received remuneration of €228,854 (2024 -€250,544).
Page 23
STANLEY ELECTRIC (U.K.) COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | € | €
| Wages and salaries | 1,102,832 | 1,114,383
| Social security costs | 95,993 | 106,878
| Other pension costs | 28,303 | 46,256
|  | 1,227,128 | 1,267,517
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Selling and distribution | 9 | 9
|  | Administration | 5 | 5
|  |  | 14 | 14
10. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | € | €
| Corporation tax |  |
| Current tax on profits for the year | - | 510
| Total current tax | - | 510
| Deferred tax |  |
| Origination and reversal of timing differences | (1,200,000) | -
| Total deferred tax | (1,200,000) | -
| Tax on (loss)/profit | (1,200,000) | 510
Page 24
STANLEY ELECTRIC (U.K.) COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10.Taxation (continued)
| Factors affecting tax charge for the year
| The tax assessed for the year is lower than (2024 -higher than) the standard rate of corporation tax in the UK of 25% (2024 -25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | € | €
| (Loss)/profit on ordinary activities before tax | (528,025) | 174,757
| (Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 -25%) | (132,006) | 43,689
| Effects of: |  |
| Expenses not deductible for tax purposes | 783 | 23,681
| Non-taxable income | - | (29,304)
| Current tax (prior period) exchange difference arising on movement between opening and closing spot rates | - | (596)
| Movement in deferred tax not recognised | (1,068,777) | (37,106)
| Adjustment tax charge in respect of previous periods | - | 146
| Total tax charge for the year | (1,200,000) | 510
| Factors that may affect future tax charges
In December 2021, the OECD released a framework for Pillar Two Model Rules, which will introduce a global minimum corporate tax rate of 15% applicable to multinational enterprise groups with global revenue over €750 million. The legislation implementing the rules in the UK was substantively enacted on 20 June 2023 and will apply to the company from this financial year onwards. The company continues to review this legislation and monitor developments. We do not expect that the 15% global minimum tax rate would affect materially the amount of tax the company pays. The company has applied the temporary exception under IAS 12 in relation to the accounting for deferred taxes arising from the implementation of the Pillar Two rules. Page 25
STANLEY ELECTRIC (U.K.) COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
11. | Intangible assets
|  | Computer software
|  | €
| Cost |
| At 1 April 2024 | 47,502
| At 31 March 2025 | 47,502
| Amortisation |
| At 1 April 2024 | 7,917
| Charge for the year | 15,834
| At 31 March 2025 | 23,751
| Net book value |
| At 31 March 2025 | 23,751
| At 31 March 2024 | 39,585
Page 26
STANLEY ELECTRIC (U.K.) COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
12. | Tangible fixed assets
|  | Right of use asset | Office equipment and fittings | Total
|  | € | € | €
| Cost or valuation |  |  |
| At 1 April 2024 | 427,390 | 4,359 | 431,749
| Additions | 172,909 | - | 172,909
| Disposals | (199,765) | - | (199,765)
| At 31 March 2025 | 400,534 | 4,359 | 404,893
| Depreciation |  |  |
| At 1 April 2024 | 337,992 | 726 | 338,718
| Charge for the year | 81,966 | 1,454 | 83,420
| Disposals | (199,765) | - | (199,765)
| At 31 March 2025 | 220,193 | 2,180 | 222,373
| Net book value |  |  |
| At 31 March 2025 | 180,341 | 2,179 | 182,520
| At 31 March 2024 | 89,398 | 3,633 | 93,031
| The net book value of land and buildings may be further analysed as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | € | €
| Long leasehold | 180,341 | 89,398
13. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | € | €
| Finished goods | 385,409 | 216,899
Page 27
STANLEY ELECTRIC (U.K.) COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
14. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | € | €
| Trade debtors | 393,119 | 1,587,387
| Amounts owed by group undertakings | 1,233,735 | 1,548,529
| Other debtors | - | 31,765
| Prepayments and accrued income | 155,416 | 152,675
| Deferred taxation | 1,200,000 | -
|  | 2,982,270 | 3,320,356
| Amounts owed by group undertakings are unsecured, interest free and repayable on demand.
15. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | € | €
| Trade creditors | 58,135 | 22,427
| Amounts owed to group undertakings | 380,093 | 1,189,766
| Corporation tax | 451 | -
| Other taxation and social security | 45,739 | 37,063
| Lease liabilities | 113,812 | 75,461
| Other creditors | 6,269 | 3,710
| Accruals and deferred income | 133,101 | 154,779
|  | 737,600 | 1,483,206
| Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.
16. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | € | €
| Lease liabilities | 84,458 | 100,898
Page 28
STANLEY ELECTRIC (U.K.) COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
17. | Commitments under operating leases
| At 31 March 2025 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | € | €
| Not later than 1 year | 118,644 | 86,640
| Later than 1 year and not later than 5 years | 88,509 | 95,441
|  | 207,153 | 182,081
| The present value of minimum lease payments is analysed as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | € | €
| Not later than 1 year | 113,812 | 75,461
| Later than 1 year and not later than 5 years | 84,458 | 100,898
|  | 198,270 | 176,359
18. | Deferred taxation
|  | 2025
|  | €
| At beginning of year | -
| Charged to profit or loss | 1,200,000
| At end of year | 1,200,000
| The deferred tax asset is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | € | €
| Tax losses carried forward | 1,200,000 | -
|  | 1,200,000 | -
Page 29
STANLEY ELECTRIC (U.K.) COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
19. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | € | €
|  | Allotted, called up and fully paid |  |
|  | 800,000 (2024 -800,000) Ordinary shares of €1.536334 each | 1,229,067 | 1,229,067
20. | Dividends
|  |  |  |  | 2025 | 2024
|  |  |  |  | € | €
| Final dividend for the year of €0.053 per £1 share (2024: €8.023 per £1 share) | 42,425 | 6,418,000
| The company's profit for the financial year ended 31 March 2025 amounted to €671,975 (in respect of the year ended 31 March 2024: profit of €174,247). A dividend of €42,425 in respect of the year ended 31 March 2025 (2024: €6,418,000) was declared by the shareholders on 2 June 2024 and paid on 27 June 2024.
21. | Related party transactions
| The company has taken advantage of the exemption under paragraph 8(k) of FRS 101 not to disclose transactions with fellow wholly owned subsidiaries.
22. | Controlling party
The immediate parent undertaking is Stanley Electric Holding Europe Co., Limited, a company incorporated in the United Kingdom. The ultimate parent undertaking and controlling party is Stanley Electric Co., Limited, a company incorporated in Japan. Stanley Electric Co., Limited is the parent undertaking of the largest and smallest group of undertakings to consolidate these financial statements at 31 March 2024. The consolidated financial statements of Stanley Electric Co., Limited. are available from Stanley Electric Co., Ltd., 2-9-13 Nakameguro, Meguro-Ku, Tokyo, 153-8636, Japan
Page 30