Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3112Restaurant hospitality2022-12-26false13The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetruefalse 06199823 2022-12-26 2023-12-31 06199823 2021-12-27 2022-12-25 06199823 2023-12-31 06199823 2022-12-25 06199823 c:Director2 2022-12-26 2023-12-31 06199823 d:Buildings d:LongLeaseholdAssets 2022-12-26 2023-12-31 06199823 d:Buildings d:LongLeaseholdAssets 2023-12-31 06199823 d:Buildings d:LongLeaseholdAssets 2022-12-25 06199823 d:PlantMachinery 2022-12-26 2023-12-31 06199823 d:PlantMachinery 2023-12-31 06199823 d:PlantMachinery 2022-12-25 06199823 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-26 2023-12-31 06199823 d:FurnitureFittings 2022-12-26 2023-12-31 06199823 d:FurnitureFittings 2023-12-31 06199823 d:FurnitureFittings 2022-12-25 06199823 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-12-26 2023-12-31 06199823 d:ComputerEquipment 2022-12-26 2023-12-31 06199823 d:ComputerEquipment 2023-12-31 06199823 d:ComputerEquipment 2022-12-25 06199823 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-12-26 2023-12-31 06199823 d:OwnedOrFreeholdAssets 2022-12-26 2023-12-31 06199823 d:CurrentFinancialInstruments 2023-12-31 06199823 d:CurrentFinancialInstruments 2022-12-25 06199823 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06199823 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-25 06199823 d:ShareCapital 2023-12-31 06199823 d:ShareCapital 2022-12-25 06199823 d:SharePremium 2023-12-31 06199823 d:SharePremium 2022-12-25 06199823 d:RetainedEarningsAccumulatedLosses 2023-12-31 06199823 d:RetainedEarningsAccumulatedLosses 2022-12-25 06199823 c:OrdinaryShareClass1 2022-12-26 2023-12-31 06199823 c:OrdinaryShareClass1 2023-12-31 06199823 c:OrdinaryShareClass1 2022-12-25 06199823 c:FRS102 2022-12-26 2023-12-31 06199823 c:AuditExemptWithAccountantsReport 2022-12-26 2023-12-31 06199823 c:FullAccounts 2022-12-26 2023-12-31 06199823 c:PrivateLimitedCompanyLtd 2022-12-26 2023-12-31 06199823 e:PoundSterling 2022-12-26 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06199823









TSURU LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
TSURU LIMITED
 

CONTENTS



Page
Accountants' Report
1
Balance Sheet
2 - 3
Notes to the Financial Statements
4 - 9


 
TSURU LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TSURU LIMITED
FOR THE PERIOD ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tsuru Limited for the period ended 31 December 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Tsuru Limited, as a body, in accordance with the terms of our engagement letter dated 31 January 2017Our work has been undertaken solely to prepare for your approval the financial statements of Tsuru Limited and state those matters that we have agreed to state to the Board of Directors of Tsuru Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tsuru Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Tsuru 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 loss of Tsuru Limited. You consider that Tsuru Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Tsuru 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.

  



WMT Chartered Accountants
 
4 Beaconsfield Road
St Albans
Hertfordshire
AL1 3RD
26 July 2024
Page 1

 
TSURU LIMITED
REGISTERED NUMBER: 06199823

BALANCE SHEET
AS AT 31 DECEMBER 2023

31 December
25 December
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
29,226
38,722

  
29,226
38,722

Current assets
  

Stocks
  
6,225
5,310

Debtors: amounts falling due within one year
 6 
33,071
18,849

Cash at bank and in hand
  
7,517
6,328

  
46,813
30,487

Creditors: amounts falling due within one year
 7 
(276,128)
(204,333)

Net current liabilities
  
 
 
(229,315)
 
 
(173,846)

Total assets less current liabilities
  
(200,089)
(135,124)

  

Net liabilities
  
(200,089)
(135,124)


Capital and reserves
  

Called up share capital 
 8 
6,737
6,737

Share premium account
  
83,263
83,263

Profit and loss account
  
(290,089)
(225,124)

  
(200,089)
(135,124)


Page 2

 
TSURU LIMITED
REGISTERED NUMBER: 06199823
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 period 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 by: 


K Yamada
Director

Date: 26 July 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
TSURU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Tsuru Limited is a company incorporated in England & Wales under the Companies Act 2006. The address of the registered office is Stour Valley Business Centre, Brundon Lane, Sudbury, CO10 7GB. The Company's principal activity continued to be that of restaurant hospitality.

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 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 following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the directors have adopted the going concern basis of accounting in preparing the financial statements.

 
2.3

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.

 
2.4

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.

Page 4

 
TSURU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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 Profit and Loss Account in the same period as the related expenditure.

 
2.6

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.

 
2.7

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.

 
2.8

Taxation

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.

Page 5

 
TSURU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

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.

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:

Long-term leasehold property
-
Straight line over the life of the lease
Plant and machinery
-
5 years
Fixtures and fittings
-
5 years
Computer equipment
-
5 years

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.

 
2.10

Stocks

Stocks are stated at the lower of cost and 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.

 
2.11

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.

 
2.12

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 6

 
TSURU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates. These estimates include accruals and the useful economic lives of assets. 


4.


Employees

The average monthly number of employees, including the directors, during the period was as follows:


        2023
        2022
            No.
            No.







Restaurant employees
10
9



Directors
3
3

13
12

Page 7

 
TSURU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Tangible fixed assets







Long-term leasehold property
Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 26 December 2022
227,422
43,240
143,070
9,502
423,234


Additions
615
-
588
605
1,808



At 31 December 2023

228,037
43,240
143,658
10,107
425,042



Depreciation


At 26 December 2022
192,856
42,840
139,863
8,953
384,512


Charge for the period on owned assets
9,968
200
806
330
11,304



At 31 December 2023

202,824
43,040
140,669
9,283
395,816



Net book value



At 31 December 2023
25,213
200
2,989
824
29,226



At 25 December 2022
34,566
400
3,207
549
38,722


6.


Debtors

31 December
25 December
2023
2022
£
£


Other debtors
-
6,130

Prepayments and accrued income
33,071
12,719

33,071
18,849


Page 8

 
TSURU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

31 December
25 December
2023
2022
£
£

Trade creditors
21,793
17,828

Amounts owed to group undertakings
102,674
81,536

Corporation tax
2,818
11,081

Other taxation and social security
39,731
34,022

Other creditors
90,277
44,752

Accruals and deferred income
18,835
15,114

276,128
204,333



8.


Share capital

31 December
25 December
2023
2022
£
£
Allotted, called up and fully paid



6,737 (2022 - 6,737) Ordinary shares of £1.00 each
6,737
6,737



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 amounted to £4,122 (2023: £3,104). Contributions totalling £1,133 (2022: £353) were payable to the fund at the balance sheet date and are included in creditors.


10.


Related party transactions

Tsuru Limited has Directors and shareholders in common with Tonkotsu Limited, making it a related party. At the balance sheet date the amount owed by the Company to Tonkotsu Limited was £102,674 (2022: £81,536). During the period Tsuru Limited paid a management charge to Tonkotsu Limited of £267,670 (2022: £199,201).

 
Page 9