Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-01-01falsesock retailer33falsetrue 11025279 2022-01-01 2022-12-31 11025279 2021-01-01 2021-12-31 11025279 2022-12-31 11025279 2021-12-31 11025279 c:Director2 2022-01-01 2022-12-31 11025279 d:OfficeEquipment 2022-01-01 2022-12-31 11025279 d:OfficeEquipment 2022-12-31 11025279 d:OfficeEquipment 2021-12-31 11025279 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 11025279 d:ComputerEquipment 2022-01-01 2022-12-31 11025279 d:ComputerEquipment 2022-12-31 11025279 d:ComputerEquipment 2021-12-31 11025279 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 11025279 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 11025279 d:CurrentFinancialInstruments 2022-12-31 11025279 d:CurrentFinancialInstruments 2021-12-31 11025279 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11025279 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 11025279 d:ShareCapital 2022-12-31 11025279 d:ShareCapital 2021-12-31 11025279 d:RetainedEarningsAccumulatedLosses 2022-12-31 11025279 d:RetainedEarningsAccumulatedLosses 2021-12-31 11025279 c:FRS102 2022-01-01 2022-12-31 11025279 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 11025279 c:FullAccounts 2022-01-01 2022-12-31 11025279 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 11025279









YAMATSUNE UK LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
YAMATSUNE UK LTD
REGISTERED NUMBER: 11025279

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
147

  
-
147

Current assets
  

Stocks
 5 
38,273
36,121

Debtors: amounts falling due within one year
 6 
8,696
24,940

Cash at bank and in hand
 7 
13,467
7,106

  
60,436
68,167

Creditors: amounts falling due within one year
 8 
(690,154)
(619,430)

Net current liabilities
  
 
 
(629,718)
 
 
(551,263)

Total assets less current liabilities
  
(629,718)
(551,116)

  

Net liabilities
  
(629,718)
(551,116)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(629,818)
(551,216)

  
(629,718)
(551,116)


Page 1

 
YAMATSUNE UK LTD
REGISTERED NUMBER: 11025279
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

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 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 29 September 2023.




K Ito
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
YAMATSUNE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Yamatsune UK Ltd is a private company, limited by shares and incorporated in England and Wales,
United Kingdom, with a registration number 11025279. The address of the registered office is Haslers, Old Station Road, Loughton, Essex, IG10 4PL. The nature of the company's operations and principal activities continued to be that of a sock retailer.

2.Accounting policies

 
2.1

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:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The company made a loss of £78,602 (2021: £115,062) and at the balance sheet date total liabilities exceeded total assets by £629,718 (2021: £551,117). This basis is deemed appropriate due to the ongoing support received from the parent company.

 
2.3

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.

Page 3

 
YAMATSUNE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

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.

 
2.7

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.

Page 4

 
YAMATSUNE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

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:

Office equipment
-
Over 5 years
Computer equipment
-
Over 3 years

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2021 - 3).

Page 5

 
YAMATSUNE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2022
733
6,854
7,587



At 31 December 2022

733
6,854
7,587



Depreciation


At 1 January 2022
586
6,854
7,440


Charge for the year on owned assets
147
-
147



At 31 December 2022

733
6,854
7,587



Net book value



At 31 December 2022
-
-
-



At 31 December 2021
147
-
147


5.


Stocks

2022
2021
£
£

Finished goods and goods for resale
38,273
36,121

38,273
36,121



6.


Debtors

2022
2021
£
£


Trade debtors
1,173
89

Other debtors
1,523
24,851

Prepayments and accrued income
6,000
-

8,696
24,940


Page 6

 
YAMATSUNE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

7.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
13,467
7,106

13,467
7,106



8.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
12,776
7,188

Amounts owed to group undertakings
672,428
607,992

Accruals and deferred income
4,950
4,250

690,154
619,430



9.


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 cost charge represents contributions payable by the Company to the fund and amounted to £Nil (2021 - £581) . Contributions totalling £Nil (2021 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


10.


Related party transactions

At the year-end the following amounts were due from/(to) the related parties:


2022
2021
£
£

Entities with control, joint control or significant influence over the entity
672,428
607,992
672,428
607,992


11.


Controlling party

The ultimate parent company is Yamatune Co., Ltd. Yamatune Co., Ltd was incorporated in Japan.

 
Page 7