Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-318false2023-01-01No description of principal activity10falsetruefalse 06511992 2023-01-01 2023-12-31 06511992 2023-12-31 06511992 2022-01-01 2022-12-31 06511992 2022-12-31 06511992 2022-01-01 06511992 c:Director2 2023-01-01 2023-12-31 06511992 c:Director3 2023-01-01 2023-12-31 06511992 c:Director4 2023-01-01 2023-12-31 06511992 c:Director5 2023-01-01 2023-12-31 06511992 c:Director6 2023-01-01 2023-12-31 06511992 c:Director7 2023-01-01 2023-12-31 06511992 c:RegisteredOffice 2023-01-01 2023-12-31 06511992 d:Buildings 2023-01-01 2023-12-31 06511992 d:Buildings 2023-12-31 06511992 d:Buildings 2022-12-31 06511992 d:FreeholdInvestmentProperty 2023-01-01 2023-12-31 06511992 d:FreeholdInvestmentProperty 2023-12-31 06511992 d:FreeholdInvestmentProperty 2022-12-31 06511992 d:FreeholdInvestmentProperty 2 2023-01-01 2023-12-31 06511992 d:CurrentFinancialInstruments 2023-12-31 06511992 d:CurrentFinancialInstruments 2022-12-31 06511992 d:Non-currentFinancialInstruments 2023-12-31 06511992 d:Non-currentFinancialInstruments 2022-12-31 06511992 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06511992 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 06511992 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 06511992 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 06511992 d:ShareCapital 2023-12-31 06511992 d:ShareCapital 2022-12-31 06511992 d:ShareCapital 2022-01-01 06511992 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 06511992 d:RetainedEarningsAccumulatedLosses 2023-12-31 06511992 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 06511992 d:RetainedEarningsAccumulatedLosses 2022-12-31 06511992 d:RetainedEarningsAccumulatedLosses 2022-01-01 06511992 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 06511992 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 06511992 c:OrdinaryShareClass1 2023-01-01 2023-12-31 06511992 c:OrdinaryShareClass1 2023-12-31 06511992 c:OrdinaryShareClass1 2022-12-31 06511992 c:FRS102 2023-01-01 2023-12-31 06511992 c:Audited 2023-01-01 2023-12-31 06511992 c:FullAccounts 2023-01-01 2023-12-31 06511992 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06511992 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06511992 6 2023-01-01 2023-12-31 06511992 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company registration number: 06511992







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


OZU LTD






































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OZU LTD
 


 
COMPANY INFORMATION


Directors
O O'Connor 
A L C M Powilewicz 
K Yokoyama 
D S Nugent 
I S-B Martinez 
K Okamoto 




Registered number
06511992



Registered office
Riverside Buildings
County Hall

Westminster Bridge Road

London

SE1 7PB




Independent auditor
Menzies LLP
Chartered Accountants & Statutory Auditor

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


OZU LTD
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Statement of Changes in Equity
3
Notes to the Financial Statements
4 - 10

 


OZU LTD
REGISTERED NUMBER:06511992



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
249,013
249,013

Investments
 5 
6,861,240
10,281,366

Investment property
 6 
18,922,982
12,759,938

  
26,033,235
23,290,317

Current assets
  

Stocks
  
-
3,303

Debtors: amounts falling due after more than one year
 7 
2,212,117
2,177,236

Debtors: amounts falling due within one year
 7 
3,137,553
1,839,222

Cash at bank and in hand
  
2,122,184
1,372,843

  
7,471,854
5,392,604

Creditors: amounts falling due within one year
 8 
(19,036,051)
(18,609,599)

Net current liabilities
  
 
 
(11,564,197)
 
 
(13,216,995)

Total assets less current liabilities
  
14,469,038
10,073,322

Creditors: amounts falling due after more than one year
 9 
(4,692,877)
(4,784,439)

Provisions for liabilities
  

Deferred tax
 10 
(1,433,596)
-

  
 
 
(1,433,596)
 
 
-

Net assets
  
8,342,565
5,288,883


Capital and reserves
  

Called up share capital 
 11 
1,000
1,000

Profit and loss account
  
8,341,565
5,287,883

  
8,342,565
5,288,883


Page 1

 


OZU LTD
REGISTERED NUMBER:06511992


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

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 profit and loss account 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: 




D S Nugent
Director

Date: 6 February 2025

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 


OZU LTD
 



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


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
1,000
3,651,535
3,652,535


Comprehensive income for the year

Profit for the year
-
1,636,348
1,636,348



At 1 January 2023
1,000
5,287,883
5,288,883


Comprehensive income for the year

Profit for the year
-
3,053,682
3,053,682


At 31 December 2023
1,000
8,341,565
8,342,565


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 


OZU LTD
 


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

1.


General information

Ozu Ltd 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

 
2.1

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

  
2.2

Preparation of consolidated financial statements

The financial statements contain information about Ozu Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

  
2.3

Related party exemption

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.

 
2.4

Going concern

The financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the reason that the Company is generating sufficient revenue, profits and cash to meet its commitments as they fall due.
As a result of the Company’s performance and financial position post year end, the directors do not consider there to be any material uncertainty relating to the Company’s ability to continue as a going concern and have prepared the financial statements on a going concern basis.

 
2.5

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.

 
2.6

Revenue

Turnover represents rents receivable, excluding value added tax, trade discounts and all other taxes of sales made during the year.

Page 4

 


OZU LTD
 


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

2.Accounting policies (continued)

 
2.7

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the income statement on a straight-line basis over the period of the lease.

 
2.8

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.

 
2.9

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.

Depreciation is provided on the following basis:

Land and buildings
-
not depreciated

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.

 
2.10

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from
changes in fair value are recognised in the income statement and fair value reserve.

Page 5

 


OZU LTD
 


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

2.Accounting policies (continued)

 
2.11

Valuation of investments

Investments in subsidiary undertakings are recognised at cost.

 
2.12

Inventories

Inventories 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.

  
2.13

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 10).

Page 6

 


OZU LTD
 


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

4.


Tangible fixed assets





Land and buildings

£



Cost or valuation


At 1 January 2023
249,013



At 31 December 2023

249,013






Net book value



At 31 December 2023
249,013



At 31 December 2022
249,013


5.


Fixed asset investments





Investments in group undertakings

£



Cost or valuation


At 1 January 2023
10,281,366



At 31 December 2023

10,281,366



Impairment


Charge for the period
3,420,126



At 31 December 2023

3,420,126



Net book value



At 31 December 2023
6,861,240



At 31 December 2022
10,281,366

Page 7

 


OZU LTD
 


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

6.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
12,759,938


Additions at cost
148,591


Surplus on revaluation
6,014,453



At 31 December 2023
18,922,982

Included within the Freehold investment property is land held in Kyoto, Japan, and an investment property held in Madrid, Spain.
The land was professionally valued on 11 October 2024 by Hitomi Construction Co., Ltd. on an assessed unit price basis. The directors confirm that the value of the land is in line with this valuation as at 31 December 2023.
The investment proprerty was professionally valued on 8 November 2024 by ATValor S.A. on an assessed unit price basis. The directors confirm that the value of the investment property is in line with this valuation as at 31 December 2023.





Page 8

 


OZU LTD
 


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

7.


Debtors

2023
2022
£
£

Due after more than one year

Amounts owed by connected companies
2,212,117
2,177,236

2,212,117
2,177,236


2023
2022
£
£

Due within one year

Trade debtors
55,749
2,147

Amounts owed by group undertakings
2,095,468
645,796

Amounts owed by connected companies
431,171
684,861

Prepayments and accrued income
555,165
506,418

3,137,553
1,839,222



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
12,487,234
12,487,234

Trade creditors
3,470
3,187

Amounts owed to group undertakings
220,838
176,592

Amounts owed to connected companies
4,371,608
4,371,608

Corporation tax
271,538
323,285

Other taxation and social security
179,248
124,545

Other creditors
149,281
147,646

Accruals and deferred income
1,352,834
975,502

19,036,051
18,609,599


The other loans are secured by way of fixed charge and legal mortgage on the Company's assets.
The amounts owed to joint ventures are secured by fixed charge and legal mortgage on the Company's assets.

Page 9

 


OZU LTD
 


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

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Amounts owed to connected companies
4,692,877
4,784,439

4,692,877
4,784,439



10.


Deferred taxation




2023


£






Charged to profit or loss
(1,433,596)



At end of year
(1,433,596)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Revaluation of investment properties
(1,433,596)
-

(1,433,596)
-


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares shares of £1.00 each
1,000
1,000



12.


Ultimate controlling party

The ultimate parent company is Miso Investments Ltd, a company incorporated in England and Wales at Riverside Building, County Hall, Westminster Bridge Road, London, United Kingdom, SE1 7PB.


13.


Auditor's information

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

The audit report was signed on 6 February 2025 by Ralph Mitchison FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 10