Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31truetruetrue2023-04-01falseNo description of principal activity2518truetrue 02719658 2023-04-01 2024-03-31 02719658 2022-04-01 2023-03-31 02719658 2024-03-31 02719658 2023-03-31 02719658 c:Director4 2023-04-01 2024-03-31 02719658 c:Director5 2023-04-01 2024-03-31 02719658 c:Director6 2023-04-01 2024-03-31 02719658 c:RegisteredOffice 2023-04-01 2024-03-31 02719658 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 02719658 d:Buildings d:ShortLeaseholdAssets 2024-03-31 02719658 d:Buildings d:ShortLeaseholdAssets 2023-03-31 02719658 d:PlantMachinery 2023-04-01 2024-03-31 02719658 d:PlantMachinery 2024-03-31 02719658 d:PlantMachinery 2023-03-31 02719658 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02719658 d:MotorVehicles 2023-04-01 2024-03-31 02719658 d:MotorVehicles 2024-03-31 02719658 d:MotorVehicles 2023-03-31 02719658 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02719658 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02719658 d:CurrentFinancialInstruments 2024-03-31 02719658 d:CurrentFinancialInstruments 2023-03-31 02719658 d:Non-currentFinancialInstruments 2024-03-31 02719658 d:Non-currentFinancialInstruments 2023-03-31 02719658 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 02719658 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 02719658 d:ShareCapital 2024-03-31 02719658 d:ShareCapital 2023-03-31 02719658 d:RetainedEarningsAccumulatedLosses 2024-03-31 02719658 d:RetainedEarningsAccumulatedLosses 2023-03-31 02719658 c:FRS102 2023-04-01 2024-03-31 02719658 c:Audited 2023-04-01 2024-03-31 02719658 c:FullAccounts 2023-04-01 2024-03-31 02719658 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02719658 d:WithinOneYear 2024-03-31 02719658 d:WithinOneYear 2023-03-31 02719658 d:BetweenOneFiveYears 2024-03-31 02719658 d:BetweenOneFiveYears 2023-03-31 02719658 d:MoreThanFiveYears 2024-03-31 02719658 d:MoreThanFiveYears 2023-03-31 02719658 c:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 02719658 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 02719658 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 02719658 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 02719658 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 02719658 d:OtherDeferredTax 2024-03-31 02719658 d:OtherDeferredTax 2023-03-31 02719658 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 02719658















ZEBRA PEN (UK) LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2024

 
ZEBRA PEN (UK) LIMITED
 
 
COMPANY INFORMATION


Directors
A Hales  
T Ishikawa  
H Minagawa  




Registered number
02719658



Registered office
19 Tudor Road
Manor Park

Runcorn

England

WA7 1TY




Independent auditors
Greenback Alan LLP
Chartered Accountants

89 Spa Road

London

SE16 3SG





 
ZEBRA PEN (UK) LIMITED
 

CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 10


 
ZEBRA PEN (UK) LIMITED
REGISTERED NUMBER:02719658

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
118,549
21,351

  
118,549
21,351

Current assets
  

Stocks
  
3,209,768
3,228,692

Debtors: amounts falling due after more than one year
 5 
52,827
-

Debtors: amounts falling due within one year
 5 
1,790,696
1,637,496

Cash at bank and in hand
 6 
522,323
264,393

  
5,575,614
5,130,581

Creditors: amounts falling due within one year
 7 
(3,879,647)
(3,622,881)

Net current assets
  
 
 
1,695,967
 
 
1,507,700

Total assets less current liabilities
  
1,814,516
1,529,051

  

Net assets
  
1,814,516
1,529,051


Capital and reserves
  

Called up share capital 
  
1,300,000
1,300,000

Profit and loss account
  
514,516
229,051

  
1,814,516
1,529,051


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 Hales
Director

Date: 17 October 2024

The notes on pages 2 to 10 form part of these financial statements.

Page 1

 
ZEBRA PEN (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

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

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Zebra Co., Limited as at 31 March 2024 and these financial statements may be obtained from 2-9 Higashigoken-cho, Shinjuku-ku, Tokyo, 162-8562, Japan.

 
1.3

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.

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 except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
ZEBRA PEN (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies (continued)

 
1.4

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.

 
1.5

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.

 
1.6

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.

 
1.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
1.8

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
ZEBRA PEN (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies (continued)

 
1.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
1.10

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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.

Depreciation is provided on the following basis:

Short-term leasehold property
-
Over the term of the lease
Plant & equipment
-
20% to 33%
Motor vehicles
-
20%

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.

Page 4

 
ZEBRA PEN (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies (continued)

 
1.11

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 reporting 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.

 
1.12

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.

 
1.13

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.

 
1.14

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.

 
1.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.

Page 5

 
ZEBRA PEN (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.


General information

Zebra Pen (UK) Limited is a private company limited by share capital incorporated in the United Kingdom and registered in England and Wales. The registration number of the company is 02719658 and the registered office address and principal business address is 19 Turdor Road, Manor Park, Runcorn, England, WA7 1TY.


3.


Employees

The average monthly number of employees, including directors, during the year was 25 (2023 - 18).


4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 April 2023
-
160,790
12,822
173,612


Additions
12,800
102,943
-
115,743


Exchange adjustments
-
786
(772)
14



At 31 March 2024

12,800
264,519
12,050
289,369



Depreciation


At 1 April 2023
-
146,534
5,727
152,261


Charge for the year on owned assets
953
15,774
2,509
19,236


Exchange adjustments
-
(233)
(444)
(677)



At 31 March 2024

953
162,075
7,792
170,820



Net book value



At 31 March 2024
11,847
102,444
4,258
118,549



At 31 March 2023
-
14,256
7,095
21,351

Page 6

 
ZEBRA PEN (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
52,827
-


2024
2023
£
£

Due within one year

Trade debtors
1,504,768
1,555,987

Other debtors
2,080
1,718

Prepayments and accrued income
138,150
72,343

Deferred taxation
145,698
7,448

1,790,696
1,637,496



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
522,323
264,393


Page 7

 
ZEBRA PEN (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
1,300,000
1,540,000

Trade creditors
176,411
138,663

Amounts owed to group undertakings
1,955,838
1,449,003

Other taxation and social security
162,957
173,657

Other creditors
39,932
36,902

Accruals and deferred income
244,509
284,656

3,879,647
3,622,881


An amount of £156,190 included within trade creditors in 2023 was in relation to a balance owed from the Hungary branch to the Japan parent company. This balance has been reclassifed to amounts owed to group undertaking.

The following liabilities were secured:

2024
2023
£
£



Bank loan
1,300,000
1,540,000

Details of security provided:

The bank loan is secured by way of a guarantee from the parent company.


8.


Deferred taxation




2024


£






At beginning of year
7,448


Charged to profit or loss
138,250



At end of year
145,698

Page 8

 
ZEBRA PEN (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
8.Deferred taxation (continued)

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(26,097)
(1,380)

Tax losses carried forward
150,000
-

Other short term timing differences
21,795
8,828

145,698
7,448


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension costs charge represents contributions payable by the Company to the fund and amounted to £23,036 (2023: £17,493). Contributions totalling £6,173 (2023: £3,995) were payable to the fund at the balance sheet date.


10.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
206,031
109,058

Later than 1 year and not later than 5 years
688,144
22,446

Later than 5 years
350,359
-

1,244,534
131,504


11.


Controlling party

The parent of the smallest group for which consolidated financial statements are drawn up in which the company is a member of is Zebra Co., Limited, a company registered in Japan. The registered office address of Zebra Co., Limited is 2-9 Higashigoken-cho, Shinjuku-ku, Tokyo, 162-8562, Japan

Page 9

 
ZEBRA PEN (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was qualified.

The qualification in the audit report was as follows:

We were unable to obtain sufficient appropriate audit evidence about the quantity of stock held by the company at 31 March 2024 during our physical stocktake testing at the year-end because there were significant differences between the quantities counted, the quantities noted as having been counted by the company’s staff undertaking the stock-take and the quantities noted in the company’s stock records for a large proportion of the test sample. We were also unable to obtain such evidence by alternative means. Consequently, we were unable to determine whether any adjustment to the value of stock reflected on the balance sheet, and accordingly the value of cost of sales reflected in the statement of comprehensive income, was necessary.

The audit report was signed on 17 October 2024 by Jon Fisher (Senior Statutory Auditor) on behalf of Greenback Alan LLP.

 
Page 10