Shanghai Electric UK Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 11940234 (England and Wales)

Financial Statements for the Year Ended 31 December 2025

for

Shanghai Electric UK Company Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

W Chen

W Yu

K Zhang

REGISTERED OFFICE:

3 More London Riverside

Room 166

London

SE1 2RE

REGISTERED NUMBER:

11940234 (England and Wales)

AUDITORS:

Shinewing Wilson Accountancy Limited

Chartered Certified Accountants

and Statutory Auditors

9 St Clare Street

London

EC3N 1LQ

FIXED ASSETS

Tangible assets

4

-

138

CURRENT ASSETS

Debtors

5

76,792,391

76,624,834

Cash at bank and in hand

6,361,489

874,376

83,153,880

77,499,210

CREDITORS

Amounts falling due within one year

6

69,519,027

63,920,249

NET CURRENT ASSETS

13,634,853

13,578,961

TOTAL ASSETS LESS CURRENT
LIABILITIES

13,634,853

13,579,099

CAPITAL AND RESERVES

Called up share capital

5,000,000

Retained earnings

8,634,853

8,579,099

SHAREHOLDERS' FUNDS

13,634,853

13,579,099

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 June 2026 and were signed on its behalf by:

K Zhang - Director

1.	STATUTORY INFORMATION

Shanghai Electric UK Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The company meets its day-to-day working capital requirements through its bank reserve. In addition, the immediate parent has confirmed to continuously provide financial support to the company for at least twelve months from the date of signing these financial statements to meet the company's liabilities, based on these, the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.The company therefore continues to adopt the going concern basis in preparing its financial statements.

Comparatives figures

Certain comparative figures have been restated where necessary to conform with current period presentation.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding value added tax.

The company generates income from its construction contracts.

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting date, measured as the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that they have been agreed with the customer. Where the outcome of the construction contract cannot be estimated reliably, contract revenue is recognised only to the extent of contract costs incurred that it is probable will be recoverable.

Accrued income represents turnover recognised in excess of payments on accounts.

Rendering of services

Turnover from Operation and Maintenance contracts to provide services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

- The amount of turnover 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 cost incurred and the costs to compete the contract can be measured reliably.

Turnover (continued)

Turnover from non contract work is recognised when the work is complete.

Where a contract has only been partially completed at the balance sheet date, turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customers in advance of services provided, the amount are recorded as deferred income and included as part of creditors falling due within one year.

Tangible fixed assets

Tangible fixed assets are initially measured at cost, which includes the purchase price and any directly attributable costs of bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Subsequent to initial recognition, tangible fixed assets are stated at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation

Depreciation is calculated to write off the cost of each asset, less its estimated residual value, over its expected useful life.

Plant and machinery etc - 20% on cost

Financial instruments

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 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 receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, and loans from group undertakings, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Share capital

Financial instruments issued by the company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset.

The company's ordinary shares are classified as equity instruments.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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: the company as lessee

Rentals paid 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.

Borrowing cost

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

and 31 December 2025

1,090

DEPRECIATION

At 1 January 2025

952

Charge for year

138

At 31 December 2025

1,090

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

138

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade debtors -group undertakings

36,982,841

23,271,839

Other debtors

8,769,086

8,764,123

Tax

281,023

312,419

VAT

-

13,850

Prepayments and accrued income

30,759,441

44,262,603

76,792,391

76,624,834

Amounts owed by group undertakings are interest free, unsecured and are repayable on demand.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade creditors

3,442,072

65,800

Trade creditors -group undertakings

42,220,406

41,132,157

Amounts owed to group undertakings

17,313,957

17,314,263

VAT

792,332

-

Other creditors

257

Accrued expenses

5,750,003

5,407,772

69,519,027

63,920,249

Amounts owed to group undertakings are interest free, unsecured and are repayable on demand.

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.25

31.12.24

£

Within one year

18,214

-

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

The Report of the Auditors was unqualified.

Nijendra Dhungana FCCA (Senior Statutory Auditor)

for and on behalf of Shinewing Wilson Accountancy Limited

9.	RELATED PARTY DISCLOSURES

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.

During the year the company entered into the following transactions with related parties:

The company provided Operations and Maintenance services to the value of £1,009,229 (2024: £927,627) to fellow group undertakings under common control.

The amounts owed by fellow group undertakings under common control are £36,960,464 (2024: £23,249,156) as at the balance sheet date. These outstanding balances are unsecured, interest free and repayable on demand.

Contract assets represent the company's right to consideration for work completed on EPC but not yet billed at the reporting date. Included within accrued income the amount of £29,716,410 (2024: £43, 329,848) are due from related parties.

No guarantees have been provided or received. The company has not recognised any provision for doubtful debts relating to these amounts during the year (2024: £Nil).

10.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Shanghai Electric Hongkong International Engineering Company Limited, a company registered in Hong Kong.

The smallest and largest undertaking for which the company is a member and for which group financial statements are prepared is the company's intermediate parent company Shanghai Electric Group Company Limited, a company registered in the P.R. China and listed on The Shanghai Stock Exchange and The Stock Exchange of Hong Kong Limited. Copies of the consolidated financial statements can be obtained from their registered office, No. 16 Lane 1100, Huashan Road, Shanghai, P.R. China.

The ultimate controlling party of the company is the State-owned Assets Supervision and Administration Commission of Shanghai Municipal Government, a government organisation in the P.R. China.