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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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BROADEX TECHNOLOGIES UK LIMITED
COMPANY INFORMATION
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BROADEX TECHNOLOGIES UK LIMITED
CONTENTS
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BROADEX TECHNOLOGIES UK LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Directors present the strategic report for the year ended 31 December 2024.
Broadex Technologies UK Limited continues to stand at the forefront of the Opto-Electronics sector, having been established in February 2019. The company remains committed to addressing the global telecommunications industry’s needs by designing and delivering innovative devices. Operating a cutting-edge 2000 square meter cleanroom Wafer Fabrication facility, Broadex Technologies UK Limited specializes in the design and manufacture of Planar Light Circuit (PLC) devices utilizing silica-on-silicon technology. The company is well-positioned to deliver advanced technology, sales, and customer support globally.
In 2024, the telecommunications industry remained slow, consistent with the previous few years. While delays in infrastructure deployment and conservative procurement strategies persisted, Broadex Technologies UK Limited maintained a steady performance, achieving outcomes consistent with 2023, with revenue witnessing a 4% change and adjustment in losses of 91%. Building on the progress made in prior years, the company successfully transitioned its Cascade AWG to early-stage volume production, and Silicon Nitride – Glass hybrid to pilot production. These advancements have been well-received by customers, validating their performance and utility across telecommunications, data communications, and emerging sectors like Artificial Intelligence (AI). Collaborative projects with tier 1 customers have expanded, leading to stronger relationships and increased demand for innovative solutions. These milestones underscore Broadex Technologies UK Limited's commitment to driving technological innovation and market leadership. Future Outlook As the company progresses through 2025 and looks ahead to 2026, the primary focus will be on scaling production for Cascade AWG and Silicon Nitride – Glass hybrid products, leveraging the strong foundation established in 2024. Expanding into new markets and further strengthening customer collaborations remain key priorities. Additionally, Broadex Technologies UK Limited will continue to explore opportunities within the AI sector, aligning its innovative solutions with the evolving demands of this dynamic market. The company plans to showcase its technological advancements at major trade events and customer engagements to reinforce its position as a leader in high-performance optical solutions. These initiatives are expected to enhance market presence and drive future growth. The directors are confident in the company’s ability to navigate market risks, including competition, cost pressures, and geopolitical uncertainties. The ongoing support of the parent company, Jiaxing INBroad Technology Company Limited, provides a solid foundation for sustained success.
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BROADEX TECHNOLOGIES UK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Broadex Technologies UK Limited has adeptly managed supply chain risks amid the ongoing conflict in Ukraine, maintaining operational continuity without disruption. Similarly, potential supply chain disruptions due to unrest in the Middle East have not impacted the company's operations. At the outset of 2024, the company faced record- energy costs, driven by restricted natural gas supplies linked to the Ukraine conflict. However, as the year high and gas supply constraints diminished, along with the onset of summer, the company secured more progressed favorable energy prices and continued to effectively manage its energy use. Consequently, by the year's end. energy expenses were reduced by 40% compared to the beginning of the year. With energy market prices declining as we progress through 2025, Broadex Technologies UK Limited anticipates leveraging further savings upon renewing its energy contracts throughout 2025.
This report was approved by the board and signed on its behalf.
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BROADEX TECHNOLOGIES UK LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Directors present their report and the financial statements for the year ended 31 December 2024.
The Directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the Directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙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.
The loss for the year, after taxation, amounted to £543,023 (2023 - loss £5,670,056).
No ordinary dividends were paid. The directors do not recommend payment of a final dividend.
The Directors who served during the year were:
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BROADEX TECHNOLOGIES UK LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Broadex Technologies UK Limited is set to not only continue but also broaden its research and development efforts to enhance its presence in existing markets and cultivate relationships with current customers by advancing the products and technologies developed over 2024. Working collaboratively with the company's customers, a main goal of 2025/26 is to bring those Cascade AWG and Silicon Nitride - Glass hybrid products to volume production.
Furthermore, as the telecommunications sector evolves and continues its recovery in 2026, Broadex Technologies UK Limited aims to re-establish its supply connections within this market to its customers. A critical strategy for achieving this will involve participating in a global trade conference in the first quarter, where the company will showcase competitive and attractive products to secure a larger market share. One relevant sector that has demonstrated major growth in 2024/25 has been Artificial Intelligence. Fuelled by the rapid increase in consumer and industry demand for Al in 2024/25, which is only set to continue and grow in the future, comes the need for increased bandwidth in the data network and solutions for vast interconnects across computational nodes. Therein exists opportunities for Broadex Technologies UK Limited as a supplier of optical devices for network and interconnective devices. While facing challenges and uncertainties common to many businesses, the company has demonstrated remarkable resilience and remains strategically positioned for future prosperity. The management team is confident in its understanding and handling of business risks related to market competition, product performance, sales penetration, and cost management, implementing effective strategies to mitigate these risks. Additionally, the firm enjoys the ongoing support of its parent company, Jiaxing INBroad Technology Company Limited, bolstering its prospects for sustained success.
In preparing these financial statements, the Directors of the Company have given careful consideration to current and anticipated future solvency requirements of the Company and its ability to continue as a going concern for at least twelve months from the date of signing of these financial statements.
The financial statements have been prepared on a going concern basis notwithstanding losses incurred in the year of £543,023 (2023: £5,670,056) with further operational losses projected. Budgets and cash flows have been prepared for a period of at least 12 months from the date of signing of the financial statements. Whilst the projections predict further operational losses there are continued efforts to grow the customer base and develop new products to offer to wider markets. The Directors are satisfied that the immediate parent company will continue to support the company. The Company has received financial support from the wider owners of the immediate parent company via the immediate parent company Jiaxing INBroad Technology Co. Ltd. Additionally a further $2m was made available from the immediate parent entity in 2025 with a further revolving credit facility being arranged with the support of the wider investors in the Company. While the Directors are confident that continued support from the ultimate owners will continue to be provided and the additional funding provided in 2025 referenced above provides the Directors with some comfort of this, further financial support from the wider owners of the immediate parent company has not been formalised. The Directors recognise this represents a material level of uncertainty which may cast significant doubt on the Company’s ability to continue as a going concern and to continue realising its assets and discharging its liabilities in the normal course of business. Notwithstanding the material uncertainty described above, the Directors believe that the Company will have access to adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
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BROADEX TECHNOLOGIES UK LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The auditors, Armstrong Watson Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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BROADEX TECHNOLOGIES UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BROADEX TECHNOLOGIES UK LIMITED
We have audited the financial statements of Broadex Technologies UK Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity, the Statement of Cash Flows, the Analysis of Net Debt 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 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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 Auditors' 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.
We draw attention to note 2.2 in the financial statements, which indicates that the company has incurred significant losses as at 31 December 2024 with further losses forecast for at least the forthcoming 12 months. As stated in note 2.2, these events or conditions, along with the other matters as set forth in note 2.2, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
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.
Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.
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BROADEX TECHNOLOGIES UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BROADEX TECHNOLOGIES UK LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.
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.
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.
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BROADEX TECHNOLOGIES UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BROADEX TECHNOLOGIES UK LIMITED (CONTINUED)
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 Auditors' 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:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: • the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and knowledge of the Company 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 review of appropriate industry knowledge. Key laws and regulations we identified during the audit were the UK Companies Act 2006 and tax legislation, UK employment legislation and UK health and safety legislation; • we assessed the extent of compliance with the laws and regulations identified above by making enquiries of management; 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 as a risk assessment tool to identify any unusual or unexpected relationships; • tested journal entries recorded on the Company’s finance system to identify unusual transactions that may indicate override of controls; • reviewed key judgements and estimates for any evidence of management bias; and • reviewed the application of accounting policies with focus on those with heightened estimation uncertainty. 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; and • enquiring of management to identify actual and potential litigation and claims.
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BROADEX TECHNOLOGIES UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BROADEX TECHNOLOGIES UK LIMITED (CONTINUED)
Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.
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 Auditors' 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 Auditors' 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.
for and on behalf of
Chartered Accountants and Statutory Auditors
89 Seaward Street
G41 1HJ
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BROADEX TECHNOLOGIES UK LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
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BROADEX TECHNOLOGIES UK LIMITED
REGISTERED NUMBER: SC622646
BALANCE SHEET
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 16 to 31 form part of these financial statements.
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BROADEX TECHNOLOGIES UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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BROADEX TECHNOLOGIES UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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BROADEX TECHNOLOGIES UK LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
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BROADEX TECHNOLOGIES UK LIMITED
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2024
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BROADEX TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Broadex Technologies UK Limited is a private company limited by shares incorporated in Scotland. The registered office is Starlaw Business Park, Starlaw Road, Livingston, United Kingdom, EH54 8SF.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.Accounting policies
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 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
In preparing these financial statements, the Directors of the Company have given careful consideration to current and anticipated future solvency requirements of the Company and its ability to continue as a going concern for at least twelve months from the date of signing of these financial statements.
The financial statements have been prepared on a going concern basis notwithstanding losses incurred in the year of £543,023 (2023: £5,670,056) with further operational losses projected. Budgets and cash flows have been prepared for a period of at least 12 months from the date of signing of the financial statements. Whilst the projections predict further operational losses there are continued efforts to grow the customer base and develop new products to offer to wider markets. The Directors are satisfied that the immediate parent company will continue to support the company. The Company has received financial support from the wider owners of the immediate parent company via the immediate parent company Jiaxing INBroad Technology Co. Ltd. Additionally a further $2m was made available from the immediate parent entity in 2025 with a further revolving credit facility being arranged with the support of the wider investors in the Company. While the Directors are confident that continued support from the ultimate owners will continue to be provided and the additional funding provided in 2025 referenced above provides the Directors with some comfort of this, further financial support from the wider owners of the immediate parent company has not been formalised. The Directors recognise this represents a material level of uncertainty which may cast significant doubt on the Company’s ability to continue as a going concern and to continue realising its assets and discharging its liabilities in the normal course of business. Notwithstanding the material uncertainty described above, the Directors believe that the Company will have access to adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
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BROADEX TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
R&D tax credits are also recognised at the fair value of the asset received or receivable when there is reasonable assurance that claims will be successful. R&D tax credits are recognised in other operating income.
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BROADEX TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
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BROADEX TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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.
Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
The estimated useful lives range as follows:
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.
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BROADEX TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
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BROADEX TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic financial liabilities
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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
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BROADEX TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows. Stock valuation - 2024 £2.45m (2023: £1.08m) Stock is valued using standard costs applied at an estimation of actual costs incurred incorporating certain direct and indirect costs which could be absorbed into the cost of stock produced Valuation of fixed assets - 2024 £2.74m (2023: £3.42m) Depreciation is provided based on management's assessment of an assets useful life and its residual value at the end of that life. Both of these are assessed as key sources of estimation uncertainty.
Analysis of turnover by country of destination:
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BROADEX TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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BROADEX TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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BROADEX TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
There were no factors that may affect future tax charges.
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BROADEX TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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BROADEX TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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BROADEX TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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BROADEX TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
On 29 August 2024, the company issued 4,375,774 ordinary shares of £1 each for a total consideration of £4,375,744.
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BROADEX TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Share premium account
Other reserves
Profit and loss account
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £105,151 (2023 - £103,737). Contributions totalling £18,376 (2023 - £16,013) were payable to the fund at the balance sheet date.
The Royal Bank of Scotland PLC holds a charge over the company's deposit of £10,000. The bank may retain the deposit and, without prior notice, apply or set off the Deposit to reduce the owner's obligations.
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BROADEX TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The parent company of Broadex Technologies UK Limited is Jiaxing INBroad Technology Company Limited a company registered in Chin, whose registered address is 1F, Building 1, 306 Yatai Road Daqiao Town, Nanhu District, Jiaxing, Zhejiang Province, China.
There is no ultimate controlling party.
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