Registered number
02575058
Tomita U.K. Ltd
Filleted Accounts
31 December 2023
Tomita U.K. Ltd
Registered number: 02575058
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 33,143 22,081
Current assets
Stocks 7,706 21,058
Debtors 4 296,583 361,615
Cash at bank and in hand 467,086 410,949
771,375 793,622
Creditors: amounts falling due within one year 5 (270,871) (238,158)
Net current assets 500,504 555,464
Total assets less current liabilities 533,647 577,545
Provisions for liabilities (1,239) (3,708)
Net assets 532,408 573,837
Capital and reserves
Called up share capital 220,000 220,000
Profit and loss account 312,408 353,837
Shareholders' funds 532,408 573,837
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Ogura
Director
Approved by the board on 25 April 2024
Tomita U.K. Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Fixtures, fittings, tools and equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 7
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 312,572
Additions 26,033
Disposals (268,745)
At 31 December 2023 69,860
Depreciation
At 1 January 2023 290,491
Charge for the year 14,971
On disposals (268,745)
At 31 December 2023 36,717
Net book value
At 31 December 2023 33,143
At 31 December 2022 22,081
4 Debtors 2023 2022
£ £
Trade debtors 164,604 196,670
Amounts owed by group undertakings and undertakings in which the company has a participating interest 23,668 47,762
Other debtors 108,311 117,183
296,583 361,615
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 249,162 207,027
Other creditors 21,709 31,131
270,871 238,158
6 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 55,000 70,784
7 Other information
Tomita U.K. Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 19 Apollo Park
Ironstone lane, Wroxton
Banbury
Oxfordshire
OX15 6AY
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