Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01false4No description of principal activity8truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10847802 2023-01-01 2023-12-31 10847802 2022-01-01 2022-12-31 10847802 2023-12-31 10847802 2022-12-31 10847802 2022-01-01 10847802 1 2022-01-01 2022-12-31 10847802 1 2023-01-01 2023-12-31 10847802 e:Director1 2023-01-01 2023-12-31 10847802 e:Director2 2023-01-01 2023-12-31 10847802 e:RegisteredOffice 2023-01-01 2023-12-31 10847802 d:FurnitureFittings 2023-01-01 2023-12-31 10847802 d:FurnitureFittings 2023-12-31 10847802 d:FurnitureFittings 2022-12-31 10847802 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10847802 d:ComputerEquipment 2023-01-01 2023-12-31 10847802 d:ComputerEquipment 2023-12-31 10847802 d:ComputerEquipment 2022-12-31 10847802 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10847802 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10847802 d:CurrentFinancialInstruments 2023-12-31 10847802 d:CurrentFinancialInstruments 2022-12-31 10847802 d:Non-currentFinancialInstruments 2023-12-31 10847802 d:Non-currentFinancialInstruments 2022-12-31 10847802 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10847802 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10847802 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10847802 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10847802 d:ShareCapital 2023-12-31 10847802 d:ShareCapital 2022-12-31 10847802 d:ShareCapital 2022-01-01 10847802 d:OtherMiscellaneousReserve 2023-01-01 2023-12-31 10847802 d:OtherMiscellaneousReserve 2023-12-31 10847802 d:OtherMiscellaneousReserve 2022-12-31 10847802 d:OtherMiscellaneousReserve 2022-01-01 10847802 d:OtherMiscellaneousReserve 1 2022-01-01 2022-12-31 10847802 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 10847802 d:RetainedEarningsAccumulatedLosses 2023-12-31 10847802 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 10847802 d:RetainedEarningsAccumulatedLosses 2022-12-31 10847802 d:RetainedEarningsAccumulatedLosses 2022-01-01 10847802 d:RetainedEarningsAccumulatedLosses 1 2022-01-01 2022-12-31 10847802 e:FRS102 2023-01-01 2023-12-31 10847802 e:Audited 2023-01-01 2023-12-31 10847802 e:FullAccounts 2023-01-01 2023-12-31 10847802 e:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10847802 e:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 10847802 (England and Wales)














JUNKOSHA UK LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023


 
JUNKOSHA UK LIMITED
 

 
COMPANY INFORMATION


Directors
A W Himeji  
M Sogo 




Registered number
10847802



Registered office
113 The Promenade

Cheltenham

England

GL50 1NW




Independent auditors
ZEDRA Corporate Reporting Services (UK) Limited






 
JUNKOSHA UK LIMITED
 


CONTENTS



Page
Balance Sheet
 
1 - 2
Statement of Changes in Equity
 
3
Notes to the Financial Statements
 
4 - 9



 
JUNKOSHA UK LIMITED
REGISTERED NUMBER:10847802


BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,028
5,985

  
3,028
5,985

Current assets
  

Debtors: amounts falling due within one year
 5 
1,893,738
41,971

Cash at bank and in hand
  
633,964
771,719

  
2,527,702
813,690

Creditors: amounts falling due within one year
 6 
(1,884,971)
(213,233)

Net current assets
  
 
 
642,731
 
 
600,457

Total assets less current liabilities
  
645,759
606,442

Creditors: amounts falling due after more than one year
 7 
(338,856)
(343,836)

  

Net assets
  
306,903
262,606

Page 1


 
JUNKOSHA UK LIMITED
REGISTERED NUMBER:10847802

    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
  
60,000
60,000

Capital contribution reserve
 8 
34,051
34,051

Profit and loss account
 8 
212,852
168,555

  
306,903
262,606


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 by: 

A W Himeji
Director

Date: 6 August 2024

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

Page 2


 
JUNKOSHA UK LIMITED
 


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Capital contribution reserve
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
60,000
-
178,346
238,346



Loss for the year
-
-
(9,791)
(9,791)

Capital contribution
-
34,051
-
34,051



At 1 January 2023
60,000
34,051
168,555
262,606



Profit for the year
-
-
44,297
44,297


At 31 December 2023
60,000
34,051
212,852
306,903


Page 3


 
JUNKOSHA UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

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

Going concern

Junkosha UK Limited has net assets at the year-end of  306,903 largely due to a significant cash balance. The cost plus arrangement means the Company will generally be profit making, though it also causes reliance on the parent company, Junkosha, Inc., and a fellow subsidiary company, Junkosha USA, Inc., in order to continue as a going concern.
Junkosha UK Limited has received written confirmation from its parent company and fellow subsidiary company that they will continue to provide financial support to the Company for a period of at least 12 months from the date of signing these financial statements. For this reason, the directors continue to prepare the financial statements on a going concern basis.

 
1.3

Turnover

Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services

Turnover is recognised on a cost plus 7% basis, in line with the intercompany service agreements with the parent company and a fellow subsidiary company. Intercompany turnover is recognised when all of the following conditions are satisfied:
 
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the intercompany service agreement;
the costs incurred under the intercompany service agreement can be measured reliably.

 
1.4

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.

 
1.5

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.

Page 4


 
JUNKOSHA UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.6

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.

 
1.7

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.

 
1.8

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.

The estimated useful lives range as follows:

Fixtures and fittings
-
7
years
Computer equipment
-
4
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.

 
1.9

Debtors

Short term debtors are measured at transaction price, less any impairment. Amounts owed by group undertakings are intercompany loans measured at cost. These loans are unsecured, interest free and repayable on demand.

Page 5


 
JUNKOSHA UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

  
1.10

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.

  
1.11

Creditors

Short-term creditors are measured at the transaction price. Amounts owed to group companies include an intercompany loan recognised using the effective interest method. The loan bears interest at a market related interest rate and is repayable on 28 February 2025.

 
1.12

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.

  
1.13

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 cashflows 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.

Page 6


 
JUNKOSHA UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.


The audit report was signed on 9 August 2024 by Nick Whitehead FCCA (Senior Statutory Auditor) on behalf of ZEDRA Corporate Reporting Services (UK) Limited.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 4).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
16,463
3,399
19,862



At 31 December 2023

16,463
3,399
19,862



Depreciation


At 1 January 2023
12,101
1,776
13,877


Charge for the year on owned assets
2,352
605
2,957



At 31 December 2023

14,453
2,381
16,834



Net book value



At 31 December 2023
2,010
1,018
3,028



At 31 December 2022
4,362
1,623
5,985

Page 7


 
JUNKOSHA UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
1,880,969
31,929

Other debtors
6,254
5,098

Prepayments and accrued income
6,515
4,944

1,893,738
41,971



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
935
1,038

Amounts owed to group undertakings
-
169,446

Corporation tax
16,965
109

Other taxation and social security
49,083
16,129

Other creditors
12,206
10,519

Accruals and deferred income
1,805,782
15,992

1,884,971
213,233



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Amounts owed to group undertakings
338,856
343,836

338,856
343,836


Included within amounts owed to group undertakings is an amount of  338,856 (2022:  343,836)  which is due on 28 February 2025. Interest is payable at a market rate of interest.


8.


Reserves

Capital contribution reserve

The capital contribution of £34,051 arose from the non-market rate of interest of the loan Junkosha UK Limited  received  from Junkosha Inc. The capital contribution represents the difference between the face value of the loan and the amount initially recognised in the financial statements.

Page 8


 
JUNKOSHA UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Financial commitments

At the end of the year, the total amount of financial commitments, guarantees and contingencies that are
not included in the balance sheet was £8,820 (2022: £23,940). The full amount of £8,820 is payable within one year.


10.


Controlling party

Junkosha, Inc., is the parent of the smallest group for which consolidated financial statements are drawn up of which the Company is a member. The registered office of the parent company is 961-20 Fukuda, Kasama-shi, Ibaraki-ken, 309-1603 Japan.


11.


Post balance sheet events

There were no adjusting or non-adjusting events occurring between the end of the reporting period and the date these financial statements were approved.

 
Page 9