Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01falsesock retailer23trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11025279 2023-01-01 2023-12-31 11025279 2022-01-01 2022-12-31 11025279 2023-12-31 11025279 2022-12-31 11025279 c:Director1 2023-01-01 2023-12-31 11025279 d:OfficeEquipment 2023-01-01 2023-12-31 11025279 d:OfficeEquipment 2023-12-31 11025279 d:OfficeEquipment 2022-12-31 11025279 d:ComputerEquipment 2023-01-01 2023-12-31 11025279 d:ComputerEquipment 2023-12-31 11025279 d:ComputerEquipment 2022-12-31 11025279 d:CurrentFinancialInstruments 2023-12-31 11025279 d:CurrentFinancialInstruments 2022-12-31 11025279 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11025279 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11025279 d:ShareCapital 2023-12-31 11025279 d:ShareCapital 2022-12-31 11025279 d:RetainedEarningsAccumulatedLosses 2023-12-31 11025279 d:RetainedEarningsAccumulatedLosses 2022-12-31 11025279 c:FRS102 2023-01-01 2023-12-31 11025279 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11025279 c:FullAccounts 2023-01-01 2023-12-31 11025279 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11025279 e:PoundSterling 2023-01-01 2023-12-31 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 2023

 
YAMATSUNE UK LTD
REGISTERED NUMBER: 11025279

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
 5 
12,438
38,273

Debtors: amounts falling due within one year
 6 
9,859
8,696

Cash at bank and in hand
 7 
16,907
13,467

  
39,204
60,436

Creditors: amounts falling due within one year
 8 
(698,125)
(690,154)

Net current liabilities
  
 
 
(658,921)
 
 
(629,718)

Total assets less current liabilities
  
(658,921)
(629,718)

  

Net liabilities
  
(658,921)
(629,718)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(659,021)
(629,818)

  
(658,921)
(629,718)


Page 1

 
YAMATSUNE UK LTD
REGISTERED NUMBER: 11025279
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers 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 director acknowledges his 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 13 August 2024.




K Ito
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
YAMATSUNE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

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 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

The financial statements have been prepared on a going concern basis. The company made a loss of £29,203 (2022: £78,602) and at the balance sheet date total liabilities exceeded total assets by £658,921 (2022: £629,718). 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 2023

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

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.

 
2.6

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.

Depreciation is provided on the following basis:

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

 
2.7

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.

Page 4

 
YAMATSUNE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual
Page 5

 
YAMATSUNE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 3).

Page 6

 
YAMATSUNE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
733
6,854
7,587



At 31 December 2023

733
6,854
7,587



Depreciation


At 1 January 2023
733
6,854
7,587



At 31 December 2023

733
6,854
7,587



Net book value



At 31 December 2023
-
-
-



At 31 December 2022
-
-
-


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
12,438
38,273

12,438
38,273



6.


Debtors

2023
2022
£
£


Trade debtors
677
1,173

Other debtors
3,584
1,523

Prepayments and accrued income
5,598
6,000

9,859
8,696


Page 7

 
YAMATSUNE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
16,907
13,467

16,907
13,467



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
18,242
12,776

Amounts owed to group undertakings
674,708
672,428

Accruals and deferred income
5,175
4,950

698,125
690,154



9.


Related party transactions

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


2023
2022
£
£

Entities with control, joint control or significant influence over the entity
674,249
672,428
674,249
672,428


10.


Controlling party

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

 
Page 8