REGISTERED NUMBER: 02457400 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

HYBEC LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T Hayakawa

F Hayakawa

H Mitsuhashi

T Yoshikawa

SECRETARY:

T Yoshikawa

REGISTERED OFFICE:

Unit 9 Barrington Ind Estate

Leycroft Road

Beaumont Leys

Leicester

LE4 1ET

REGISTERED NUMBER:

02457400 (England and Wales)

AUDITORS:

Magma Audit LLP (part of the Dains Group)

Chartered Accountants

Statutory Auditor

Unit 2, Charnwood Edge Business Park

Syston Road

Leicestershire

LE7 4UZ

CURRENT ASSETS

Stocks

31,512

33,471

Debtors

6

28,298

36,792

Cash at bank and in hand

186,546

250,837

246,356

321,100

CREDITORS

Amounts falling due within one year

7

(26,637

)

(36,801

)

NET CURRENT ASSETS

219,719

284,299

TOTAL ASSETS LESS CURRENT LIABILITIES

219,719

284,299

CAPITAL AND RESERVES

Called up share capital

150,000

150,000

Retained earnings

69,719

134,299

219,719

284,299

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 11 December 2025 and were signed on its behalf by:

H Mitsuhashi - Director

1.	STATUTORY INFORMATION

Hybec Limited is a private limited company, limited by shares, registered in England and Wales. Its registered office address is Unit 9 Barrington Ind Estate, Leycroft Road, Beaumont Leys, Leicester, LE4 1ET and the registered number is 02457400.

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.

The financial statements are prepared in sterling and rounded to the nearest £.

Going concern

The company has made a loss in both the current and prior year, however the directors are satisfied that the company has sufficient cash and working capital to meet its liabilities, as they fall due, for the foreseeable future. The directors have obtained confirmation from the parent company that they will continue to provide product to the company for a period of at least 12 months from approval of the financial statements. The directors have reviewed their going concern assessment and are confident that the company will continue as a going concern for at least 12 months from the approval of the financial statements. No material uncertainty in relation to going concern has been identified and the financial statements continue to be prepared on a going concern basis.

Preparation of consolidated financial statements

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group, of which this is the parent, qualified as a small group. The financial statements present information about the company as an individual entity and not about its group.

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 as the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Improvements to property

Over the term of the lease

Plant and machinery

20% straight line on cost

Computer equipment

20% and 33.33% straight line on cost

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 the Profit and Loss Account.

Investments in subsidiaries

Investment in the subsidiary company is held at cost less accumulated impairment losses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are 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 profit or loss.

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.

Taxation

Tax is recognised in profit or loss except that a change 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.

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.

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.

Operating leases

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

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments 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.

Debtors

Basic financial assets, including trade and other debtors, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 April 2024

and 31 March 2025

10,862

11,408

16,589

38,859

DEPRECIATION

At 1 April 2024

and 31 March 2025

10,862

11,408

16,589

38,859

NET BOOK VALUE

At 31 March 2025

-

-

-

-

At 31 March 2024

-

-

-

-

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

2

PROVISIONS

At 1 April 2024

and 31 March 2025

2

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

The company holds 100% of the Ordinary share capital of the following companies:

Dental Lamp Supplies Limited

Hospital Lamp Supplies Limited

Both of these companies were incorporated on 27 May 2005 in England and Wales and have remained dormant. Both companies have net assets of £1. The company's investments in these companies has been fully impaired.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

22,478

24,978

Amounts owed by group undertakings

569

1,818

Other debtors

-

5,000

Prepayments and accrued income

5,251

4,996

28,298

36,792

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

9,314

12,156

Social security and other taxes

2,297

9,388

Other creditors

516

1,372

Accruals and deferred income

14,510

13,885

26,637

36,801

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

The Report of the Auditors was unqualified.

Paul Orton FCA FCCA (Senior Statutory Auditor)

for and on behalf of Magma Audit LLP (part of the Dains Group)

9.	OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had financial commitments not provided for in these financial statements totalling £1,674 (2024 - £4,657).

10.	ULTIMATE CONTROLLING PARTY

The immediate parent undertaking and ultimate parent undertaking during the current and preceding year is Miyakawa Corporation, a company incorporated in Japan.

Copies of the accounts of the parent undertaking are available from Miyakawa Corporation, Nicherel Akashicho Building, 6-4 Akashi-ho, Chuo-ku, Tokyo, 104-0044 Japan.