Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-31No description of principal activitytruetruetruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-04-01false2017true 02719658 2021-04-01 2022-03-31 02719658 2020-04-01 2021-03-31 02719658 2022-03-31 02719658 2021-03-31 02719658 1 2021-04-01 2022-03-31 02719658 d:Director1 2021-04-01 2022-03-31 02719658 d:Director2 2021-04-01 2022-03-31 02719658 d:Director3 2021-04-01 2022-03-31 02719658 d:RegisteredOffice 2021-04-01 2022-03-31 02719658 c:PlantMachinery 2021-04-01 2022-03-31 02719658 c:PlantMachinery 2022-03-31 02719658 c:PlantMachinery 2021-03-31 02719658 c:PlantMachinery c:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 02719658 c:MotorVehicles 2021-04-01 2022-03-31 02719658 c:MotorVehicles 2022-03-31 02719658 c:MotorVehicles 2021-03-31 02719658 c:MotorVehicles c:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 02719658 c:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 02719658 c:CurrentFinancialInstruments 2022-03-31 02719658 c:CurrentFinancialInstruments 2021-03-31 02719658 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 02719658 c:CurrentFinancialInstruments c:WithinOneYear 2021-03-31 02719658 c:ShareCapital 2022-03-31 02719658 c:ShareCapital 2021-03-31 02719658 c:RetainedEarningsAccumulatedLosses 2022-03-31 02719658 c:RetainedEarningsAccumulatedLosses 2021-03-31 02719658 d:FRS102 2021-04-01 2022-03-31 02719658 d:Audited 2021-04-01 2022-03-31 02719658 d:FullAccounts 2021-04-01 2022-03-31 02719658 d:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 02719658 c:WithinOneYear 2022-03-31 02719658 c:WithinOneYear 2021-03-31 02719658 c:BetweenOneFiveYears 2022-03-31 02719658 c:BetweenOneFiveYears 2021-03-31 02719658 d:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 02719658 2 2021-04-01 2022-03-31 02719658 4 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure
Registered number: 02719658















ZEBRA PEN (UK) LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2022

 
ZEBRA PEN (UK) LIMITED
 
 
COMPANY INFORMATION


Directors
M Kitai 
S Ishikawa 
A Tanigawa 




Registered number
02719658



Registered office
Unit 2
Hook Rise Business Centre

Chessington

Surrey

KT6 7LD




Independent auditors
Greenback Alan LLP
Chartered Accountants

89 Spa Road

London

SE16 3SG





 
ZEBRA PEN (UK) LIMITED
 

CONTENTS



Page
Balance Sheet
1
Notes to the Financial Statements
2 - 9


 
ZEBRA PEN (UK) LIMITED
REGISTERED NUMBER:02719658

BALANCE SHEET
AS AT 31 MARCH 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
28,264
36,938

  
28,264
36,938

Current assets
  

Stocks
  
2,920,966
2,256,241

Debtors: amounts falling due within one year
 5 
1,196,028
1,401,124

Cash at bank and in hand
 6 
297,118
329,904

  
4,414,112
3,987,269

Creditors: amounts falling due within one year
 7 
(3,162,273)
(2,924,422)

Net current assets
  
 
 
1,251,839
 
 
1,062,847

Total assets less current liabilities
  
1,280,103
1,099,785

  

Net assets
  
1,280,103
1,099,785


Capital and reserves
  

Called up share capital 
  
1,300,000
1,300,000

Profit and loss account
  
(19,897)
(200,215)

  
1,280,103
1,099,785


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 statement of comprehensive income 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 30 June 2022.




M Kitai
Director

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
ZEBRA PEN (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.Accounting policies

 
1.1

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
1.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Zebra Co., Limited as at 31 March 2021 and these financial statements may be obtained from 2-9 Higashigoken-cho, Shinjuku-ku, Tokyo, 162-8562, Japan.

 
1.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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 Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
ZEBRA PEN (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.Accounting policies (continued)

 
1.4

Revenue

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.

 
1.5

Operating leases: the Company as lessee

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

 
1.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
1.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
1.8

Finance costs

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.

 
1.9

Borrowing costs

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

Page 3

 
ZEBRA PEN (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.Accounting policies (continued)

 
1.10

Pensions

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.

 
1.11

Current and deferred taxation

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.

 
1.12

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 4

 
ZEBRA PEN (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.Accounting policies (continued)

 
1.13

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.

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:

Plant & equipment
-
20% to 33%
Motor vehicles
-
20%

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.

 
1.14

Stocks

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 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.

 
1.15

Debtors

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.

 
1.16

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. 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 5

 
ZEBRA PEN (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.Accounting policies (continued)

 
1.17

Creditors

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.

 
1.18

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 ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


2.


General information

Zebra Pen (UK) Limited is a private company limited by share capital incorporated in the United Kingdom and registered in England and Wales. The registration number of the company is 02719658 and the registered office address and principal business address is Unit 2, Hook Rise Business Centre, Chessington, Surrey, KT6 7LD.


3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2021 - 17).

Page 6

 
ZEBRA PEN (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 April 2021
152,817
13,011
165,828


Additions
1,426
-
1,426


Exchange adjustments
1,384
(267)
1,117



At 31 March 2022

155,627
12,744
168,371



Depreciation


At 1 April 2021
128,283
607
128,890


Charge for the year on owned assets
8,714
2,626
11,340


Exchange adjustments
(33)
(90)
(123)



At 31 March 2022

136,964
3,143
140,107



Net book value



At 31 March 2022
18,663
9,601
28,264



At 31 March 2021
24,534
12,404
36,938


5.


Debtors

2022
2021
£
£


Trade debtors
1,134,093
1,335,297

Other debtors
1,434
1,509

Prepayments and accrued income
53,053
42,657

Tax recoverable
-
14,213

Deferred taxation
7,448
7,448

1,196,028
1,401,124


Page 7

 
ZEBRA PEN (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
297,118
329,904

297,118
329,904



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
1,080,000
1,200,000

Trade creditors
104,891
183,851

Amounts owed to group undertakings
1,498,422
1,077,577

Corporation tax
-
4,618

Other taxation and social security
109,302
48,346

Other creditors
14,414
41,113

Accruals and deferred income
355,244
368,917

3,162,273
2,924,422


The following liabilities were secured:

2022
2021
£
£



Bank loan
1,080,000
1,200,000

1,080,000
1,200,000

Details of security provided:

The bank loan is secured by way of a guarantee from the parent company.


8.


Pension commitments

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 costs charge represents contributions payable by the Company to the fund and amounted to £17,343 (2021: £15,135). Contributions totalling £3,592 (2021 - £2,681) were payable to the fund at the balance sheet date.

Page 8

 
ZEBRA PEN (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

9.


Commitments under operating leases

At 31 March 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2022
2021
£
£


Not later than 1 year
88,502
106,905

Later than 1 year and not later than 5 years
296,493
347,814

384,995
454,719


10.


Post balance sheet events

Due to the Covid-19 pandemic, along with the majority of our key business partners, our premises have been either closed or operating on reduced business hours in accordance with  the recommmendations from the Government. With short-time work and the possibility to work from home, we continue to manage to get the staff team members safely through the crisis. To mitigate the effect of Covid-19 and to be present for our customers we have and continue to concentrate on more online sales and promotions. We continue to maintain contact with our customers and suppliers during this difficult time.


11.


Controlling party

The parent of the smallest group for which consolidated financial statements are drawn up in which the company is a member of is Zebra Co., Limited, a company registered in Japan. The registered office address of Zebra Co., Limited is 2-9 Higashigoken-cho, Shinjuku-ku, Tokyo, 162-8562, Japan. 


12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2022 was unqualified.

The audit report was signed on 30 June 2022 by Ian Clive Rowe (Senior Statutory Auditor) on behalf of Greenback Alan LLP.

 
Page 9