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REGISTERED NUMBER: 05821313 (England and Wales)















Morinaga (UK) Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024






Morinaga (UK) Limited (Registered number: 05821313)

Contents of the Financial Statements
for the year ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Morinaga (UK) Limited

Company Information
for the year ended 31 May 2024







Directors: A Morinaga
K Noji





Registered office: First Floor
38 Thurloe Place
London
SW7 2HP





Registered number: 05821313 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Morinaga (UK) Limited (Registered number: 05821313)

Balance Sheet
31 May 2024

2024 2023
as restated
Notes £ £ £ £
Fixed assets
Tangible assets 4 1,732 1,220

Current assets
Stocks 760 420
Debtors 5 240,083 207,540
Cash at bank 24,584 24,329
265,427 232,289
Creditors
Amounts falling due within one year 6 156,562 127,825
Net current assets 108,865 104,464
Total assets less current liabilities 110,597 105,684

Provisions for liabilities 8 433 305
Net assets 110,164 105,379

Capital and reserves
Called up share capital 9 1,000 1,000
Retained earnings 10 109,164 104,379
Shareholders' funds 110,164 105,379

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





A Morinaga - Director


Morinaga (UK) Limited (Registered number: 05821313)

Notes to the Financial Statements
for the year ended 31 May 2024


1. Statutory information

Morinaga (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

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

Turnover represents amounts receivable for services provided in the year and is stated net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Morinaga (UK) Limited (Registered number: 05821313)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


2. Accounting policies - continued

Financial instruments
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds financial instruments which comprise cash and cash equivalents, trade and other receivables, equity investments derivative financial instruments, trade and other payables, convertible loan notes and loans and borrowings. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments in full.

Financial assets and liabilities - classified as basic financial instruments

(i) Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables
Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

At the end of each reporting period, the company assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in the Income Statement.

(iii) Trade and other payables and loans and borrowings
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the discounted amount of the cash expected to be paid.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

Morinaga (UK) Limited (Registered number: 05821313)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


4. Tangible fixed assets
Computer
equipment
£
Cost
At 1 June 2023 5,204
Additions 980
At 31 May 2024 6,184
Depreciation
At 1 June 2023 3,984
Charge for year 468
At 31 May 2024 4,452
Net book value
At 31 May 2024 1,732
At 31 May 2023 1,220

5. Debtors: amounts falling due within one year
2024 2023
as restated
£ £
Other debtors 240,083 207,540

6. Creditors: amounts falling due within one year
2024 2023
as restated
£ £
Trade creditors 9,688 9,587
Taxation and social security 8,965 6,629
Other creditors 137,909 111,609
156,562 127,825

7. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
as restated
£ £
Within one year - 4,940

8. Provisions for liabilities
2024 2023
as restated
£ £
Deferred tax
Accelerated capital allowances 433 305

Morinaga (UK) Limited (Registered number: 05821313)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


8. Provisions for liabilities - continued

Deferred tax
£
Balance at 1 June 2023 305
Movements during the year 128
Balance at 31 May 2024 433

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£ £
1,000 Ordinary £1 1,000 1,000

10. Reserves
Retained
earnings
£

At 1 June 2023 104,379
Profit for the year 24,785
Dividends (20,000 )
At 31 May 2024 109,164

11. Related party disclosures

Included within other creditors is £134,835 (2023: £100,049) owed to a company director.

Included within other debtors is £87,403 (2023: £55,000) owed by a company under common control.