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Registered number: 01753503
U.K. ELECTRONICS LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
For the Year Ended 31 July 2025
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U.K. ELECTRONICS LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF U.K. ELECTRONICS LIMITED
FOR THE YEAR ENDED 31 JULY 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of U.K. Electronics Limited for the year ended 31 July 2025 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of directors of U.K. Electronics Limited, as a body, in accordance with the terms of our engagement letter dated 1st February 2007. Our work has been undertaken solely to prepare for your approval the financial statements of U.K. Electronics Limited and state those matters that we have agreed to state to the Board of directors of U.K. Electronics Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than U.K. Electronics Limited and its Board of directors, as a body, for our work or for this report.
It is your duty to ensure that U.K. Electronics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of U.K. Electronics Limited. You consider that U.K. Electronics Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of U.K. Electronics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Duce
Chartered Certified Accountants
Manor House
35 St. Thomas's Road
Chorley
Lancs
PR7 1HP
31 May 2026
Page 1
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U.K. ELECTRONICS LIMITED
Registered number: 01753503
BALANCE SHEET
As at 31 July 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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Capital redemption reserve
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Page 2
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U.K. ELECTRONICS LIMITED
Registered number: 01753503
BALANCE SHEET (CONTINUED)
As at 31 July 2025
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 May 2026.
The notes on pages 4 to 13 form part of these financial statements.
Page 3
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U.K. ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 July 2025
U.K. Electronics Limited is a private company limited by shares, registered in the United Kingdom number 01753503. Its registered office is Schofield House, Lion Mill Yard, Fitton Street, Royton, Oldham, Lancs, OL2 5JX. During the year, the principal activity of the company continued to be that of printed circuit board assembly and electronic and PCB CAD design.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Page 4
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U.K. ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 July 2025
2.Accounting policies (continued)
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
Page 5
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U.K. ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 July 2025
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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.
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 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.
Development costs on all projects are charged against income in the financial period in which they are incurred.
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.
Page 6
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U.K. ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 July 2025
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average 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.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.
Page 7
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U.K. ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 July 2025
2.Accounting policies (continued)
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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The average monthly number of employees, including directors, during the year was 63 (2024 - 71).
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Page 8
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U.K. ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 July 2025
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Charge for the year on owned assets
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The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
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Page 9
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U.K. ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 July 2025
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Investments in subsidiary companies
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The following were subsidiary undertakings of the Company:
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Blackburn Circuit Design Holdings Limited
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Schofield House, Lion Mill Yard, Fitton Street, Royton, Oldham, Lancs, OL2 5JX
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Blackburn Circuit Design Limited
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Schofield House, Lion Mill Yard, Fitton Street, Royton, Oldham, Lancs, OL2 5JX
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Edgeton Solutions Limited
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Schofield House, Lion Mill Yard, Fitton Street, Royton, Oldham, Lancs, OL2 5JX
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Page 10
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U.K. ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 July 2025
Subsidiary undertakings (continued)
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The aggregate of the share capital and reserves as at 31 July 2025 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
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Aggregate of share capital and reserves
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Blackburn Circuit Design Holdings Limited
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Blackburn Circuit Design Limited
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Edgeton Solutions Limited
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Raw materials and consumables
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Work in progress (goods to be sold)
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Finished goods and goods for resale
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Amounts owed by group undertakings
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Prepayments and accrued income
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Cash and cash equivalents
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Page 11
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U.K. ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 July 2025
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Creditors: Amounts falling due within one year
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Payments received on account
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Amounts owed to group undertakings
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Page 12
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U.K. ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 July 2025
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Allotted, called up and fully paid
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94,600 (2024 - 94,600) Ordinary shares of £0.01 each
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Share premium account
On 31 July 2023 the Company issued an additional 46 Ordinary Shares of £1 each at a value of £9,778 each in order to complete a share for share exchange agreement on the acquistion of Edgeton Solutions Limited.
Capital redemption reserve
On 25 October 2021 the Company purchased 100 of its own Ordinary Shares of £1 each for £296,331 (incl. costs) in order to facilitate the retirement of Gary Howarth, a director of the company. Approval for the transaction was granted by HM Revenue & Customs prior to its completion and upon completion the 100 shares were duly cancelled.
The company operates defined contributions (money purchase) pension schemes. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to the funds and amounted to £37,850 (2024 - £34,404).
Page 13
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