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REGISTERED NUMBER: 02950645 (England and Wales)















TAKARA TRADING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024






TAKARA TRADING LIMITED (REGISTERED NUMBER: 02950645)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TAKARA TRADING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTORS: Mr M. Hakimian
Mr A. Hakimian





REGISTERED OFFICE: Second Floor
34 Lime Street
London
EC3M 7AT





REGISTERED NUMBER: 02950645 (England and Wales)





ACCOUNTANTS: Carston ETL
Chartered Accountants
Second Floor
34 Lime Street
London
EC3M 7AT

TAKARA TRADING LIMITED (REGISTERED NUMBER: 02950645)

BALANCE SHEET
31ST MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 852,726 941,275
Investment property 5 8,669,876 8,669,876
9,522,602 9,611,151

CURRENT ASSETS
Debtors 6 1,355,676 1,043,000
Cash at bank 348,320 207,306
1,703,996 1,250,306
CREDITORS
Amounts falling due within one year 7 348,261 146,051
NET CURRENT ASSETS 1,355,735 1,104,255
TOTAL ASSETS LESS CURRENT LIABILITIES 10,878,337 10,715,406

PROVISIONS FOR LIABILITIES 1,353,885 1,353,885
NET ASSETS 9,524,452 9,361,521

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 932,597 932,597
Other reserves 5,181,266 5,181,266
Retained earnings 3,410,489 3,247,558
SHAREHOLDERS' FUNDS 9,524,452 9,361,521

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 19th December 2024 and were signed on its behalf by:



Mr M. Hakimian - Director


TAKARA TRADING LIMITED (REGISTERED NUMBER: 02950645)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024


1. STATUTORY INFORMATION

Takara Trading 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

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

Turnover
Turnover represents net rental income and service charges, excluding value added tax.

Rental income
Rent is invoiced on a quarterly basis. Rent invoiced is recognised as income in the period it relates to. Any rent invoiced in advance is carried forward and recognise in the period to which it relates to.

Service charges
An estimate service charge is invoiced to the tenants on a quarterly basis. The actual service charge is calculated at the year end and any difference between actual service charge and estimate service charge is amended for. If service charge is underpaid by the tenants, they are liable to pay the difference. If service charge is overpaid, the tenant will be credited with the overpayment in the next service charge instalment. This asset or liability is accounted in these accounts.

Sales
Sales revenue is recognised when the risks and rewards of ownership have substantively transferred to the customer, regardless of whether legal title has transferred. This condition is normally met when the goods have been delivered or upon the performance of services.

Tangible fixed assets
Tangible assets are stated at fair value as at the Balance Sheet date. Any surplus or deficit arising from revaluation is transferred to revaluation reserve.

Investment property
Investment property is stated at fair value. Any adjustment to the fair value of the investment property is recognised in the Income Statement for the year.

In accordance with FRS 102 no depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the financial statements giving a true and fair view.

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.


TAKARA TRADING LIMITED (REGISTERED NUMBER: 02950645)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


2. ACCOUNTING POLICIES - continued
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.

Basic financial instruments
Trade and other debtors / creditors
Trade and other debtors are recognised initially at transaction price less attributable transaction costs.
Subsequent to initial recognition, they are measured at transaction price less any impairment losses.
Trade and other creditors are recognised initially at transaction price plus attributable transaction costs.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances and deposits.

Other reserves
Other reserve is a non-distributable reserve and represents the net balance between the adjustment to the fair value of investment properties and its related deferred tax provision.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST OR VALUATION
At 1st June 2023
and 31st May 2024 1,107,832 577,701 22,425 1,707,958
DEPRECIATION
At 1st June 2023 332,350 426,260 8,073 766,683
Charge for year 55,391 30,288 2,870 88,549
At 31st May 2024 387,741 456,548 10,943 855,232
NET BOOK VALUE
At 31st May 2024 720,091 121,153 11,482 852,726
At 31st May 2023 775,482 151,441 14,352 941,275

TAKARA TRADING LIMITED (REGISTERED NUMBER: 02950645)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31st May 2024 is represented by:

Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
Valuation in 2007 23,229 - - 23,229
Valuation in 2016 440,170 - - 440,170
Valuation in 2017 68,066 - - 68,066
Cost 576,367 577,701 22,425 1,176,493
1,107,832 577,701 22,425 1,707,958

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st June 2023
and 31st May 2024 8,669,876
NET BOOK VALUE
At 31st May 2024 8,669,876
At 31st May 2023 8,669,876

Fair value at 31st May 2024 is represented by:
£   
Valuation in 2006 1,284,249
Valuation in 2007 245,186
Valuation in 2016 4,392,007
Valuation in 2017 532,683
Cost 2,215,751
8,669,876

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 283,209 282,093
Other debtors 1,072,467 760,907
1,355,676 1,043,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,785 7,669
Taxation and social security 98,175 -
Other creditors 245,301 138,382
348,261 146,051

TAKARA TRADING LIMITED (REGISTERED NUMBER: 02950645)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


8. RESERVES

Other reserve is a non-distributable reserve and represents the net balance between the adjustment to the fair value of the tangible fixed assets and its related deferred tax provision.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the Balance Sheet date the following amounts were owed to the directors:-
M Hakimian:- £11,655 (2023: £11,655)
A Hakimian:- £11,036 (2023: £11,036)
The loans are interest free and repayable on demand.

At the Balance Sheet date, £1,013,592 was owed to the company by M. Hakimian & Co, a partnership in which the directors are partners.
At the Balance Sheet date, £200,000 was owed to the company by Yoko Retail Limited, a company controlled by M Hakimian.