Kakinuma (Europe) Limited 04042697 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of the sale of air conditioning components. Digita Accounts Production Advanced 6.30.9574.0 true false true 04042697 2023-04-01 2024-03-31 04042697 2024-03-31 04042697 core:CurrentFinancialInstruments 2024-03-31 04042697 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04042697 core:OfficeEquipment 2024-03-31 04042697 core:PlantMachinery 2024-03-31 04042697 bus:SmallEntities 2023-04-01 2024-03-31 04042697 bus:Audited 2023-04-01 2024-03-31 04042697 bus:FilletedAccounts 2023-04-01 2024-03-31 04042697 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04042697 bus:RegisteredOffice 2023-04-01 2024-03-31 04042697 bus:Director1 2023-04-01 2024-03-31 04042697 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04042697 core:ComputerEquipment 2023-04-01 2024-03-31 04042697 core:OfficeEquipment 2023-04-01 2024-03-31 04042697 core:PlantMachinery 2023-04-01 2024-03-31 04042697 1 2023-04-01 2024-03-31 04042697 countries:EnglandWales 2023-04-01 2024-03-31 04042697 2023-03-31 04042697 core:OfficeEquipment 2023-03-31 04042697 core:PlantMachinery 2023-03-31 04042697 2022-04-01 2023-03-31 04042697 2023-03-31 04042697 core:CurrentFinancialInstruments 2023-03-31 04042697 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04042697 core:OfficeEquipment 2023-03-31 04042697 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 04042697

Kakinuma (Europe) Limited

Filleted Financial Statements

for the Year Ended 31 March 2024

 

Kakinuma (Europe) Limited

Contents

Statement of Financial Position

1

Notes to the Financial Statements

2 to 6

 

Kakinuma (Europe) Limited

(Registration number: 04042697)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

258

344

Current assets

 

Stocks

221,243

330,237

Debtors

6

163,174

947,520

Cash at bank and in hand

 

646,883

597,275

 

1,031,300

1,875,032

Creditors: Amounts falling due within one year

7

(760,749)

(1,511,025)

Net current assets

 

270,551

364,007

Net assets

 

270,809

364,351

Capital and reserves

 

Called up share capital

30,000

30,000

Profit and loss account

240,809

334,351

Shareholders' funds

 

270,809

364,351

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 9 September 2024 and signed on its behalf by:
 


J Kakinuma
Director

 

Kakinuma (Europe) Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Plym House,
3 Longbridge Road
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of the sale of air conditioning components.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Kakinuma (Europe) Limited

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 10 September 2024 was Adam Croney ACA, who signed for and on behalf of Westcotts (SW) LLP.

.........................................

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises turnover on completion of delivery of goods.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Kakinuma (Europe) Limited

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Computer equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

Kakinuma (Europe) Limited

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Auditors' remuneration

2024
£

2023
£

Audit of the financial statements

5,000

2,500


 

5

Tangible assets

Plant and machinery
£

Computer equipment
£

Total
£

Cost or valuation

At 1 April 2023

19,298

698

19,996

At 31 March 2024

19,298

698

19,996

Depreciation

At 1 April 2023

19,069

583

19,652

Charge for the year

57

29

86

At 31 March 2024

19,126

612

19,738

Carrying amount

At 31 March 2024

172

86

258

At 31 March 2023

229

115

344

6

Debtors

2024
£

2023
£

Trade debtors

162,250

946,317

Other debtors

-

1,203

Prepayments

924

-

163,174

947,520

 

Kakinuma (Europe) Limited

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

674,573

1,399,372

Amounts owed to group undertakings

34,683

60,773

Taxation and social security

6,857

19,498

Other creditors

44,636

31,382

760,749

1,511,025

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9

Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year purchases totalling £1,552,195 (2023 £3,109,862) were made from a related company. At the balance sheet date the amount owing to the related party was £672,578 (2023 £589,125)

10

Parent and ultimate parent undertaking

The company's immediate parent is Kakinuma Kinzoku Seiki Co. Limited, registered in Japan, which is under the control of J Kakinuma.