Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-312025-05-132025-05-132024-01-01truefalseconversion and sale of products to the printing industry1313true 03290576 2024-01-01 2024-12-31 03290576 2023-01-01 2023-12-31 03290576 2024-12-31 03290576 2023-12-31 03290576 c:Director2 2024-01-01 2024-12-31 03290576 d:Buildings 2024-01-01 2024-12-31 03290576 d:Buildings d:LongLeaseholdAssets 2024-01-01 2024-12-31 03290576 d:Buildings d:LongLeaseholdAssets 2024-12-31 03290576 d:Buildings d:LongLeaseholdAssets 2023-12-31 03290576 d:PlantMachinery 2024-01-01 2024-12-31 03290576 d:PlantMachinery 2024-12-31 03290576 d:PlantMachinery 2023-12-31 03290576 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03290576 d:FurnitureFittings 2024-01-01 2024-12-31 03290576 d:OfficeEquipment 2024-01-01 2024-12-31 03290576 d:OfficeEquipment 2024-12-31 03290576 d:OfficeEquipment 2023-12-31 03290576 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03290576 d:ComputerEquipment 2024-01-01 2024-12-31 03290576 d:ComputerEquipment 2024-12-31 03290576 d:ComputerEquipment 2023-12-31 03290576 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03290576 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03290576 d:CurrentFinancialInstruments 2024-12-31 03290576 d:CurrentFinancialInstruments 2023-12-31 03290576 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 03290576 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03290576 d:ShareCapital 2024-12-31 03290576 d:ShareCapital 2023-12-31 03290576 d:RetainedEarningsAccumulatedLosses 2024-12-31 03290576 d:RetainedEarningsAccumulatedLosses 2023-12-31 03290576 c:FRS102 2024-01-01 2024-12-31 03290576 c:Audited 2024-01-01 2024-12-31 03290576 c:FullAccounts 2024-01-01 2024-12-31 03290576 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03290576 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03290576 2 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 03290576










KINYO UK LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
KINYO UK LIMITED
REGISTERED NUMBER: 03290576

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
95,619
117,546

  
95,619
117,546

Current assets
  

Stocks
 6 
915,216
1,101,907

Debtors
 7 
843,331
950,505

Cash at bank and in hand
  
80,415
62,249

  
1,838,962
2,114,661

Creditors: amounts falling due within one year
 8 
(941,184)
(1,220,356)

Net current assets
  
 
 
897,778
 
 
894,305

Total assets less current liabilities
  
993,397
1,011,851

  

Net assets
  
993,397
1,011,851


Capital and reserves
  

Called up share capital 
  
240,000
240,000

Profit and loss account
  
753,397
771,851

  
993,397
1,011,851


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 income and retained earnings 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: 




Masami Yamaguchi
Director

Date: 13 May 2025

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
KINYO UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The principal activity of the company is the conversion and sale of products to the printing industry. The company is a private company limited by shares, registered in England and Wales (no. 03290576). The address of the registered office is Kinyo House, Scala Court, Leathley Road, Leeds, LS10 1JD.

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 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the basis that the company can continue to operate as a going concern. 

The directors, having made due and careful enquiry, are of the opinion that the company has adequate working capital to execute its operations over the next 12 months from the date of approval of the accounts. The directors, therefore have made an informed judgement at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

 
2.3

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 Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
KINYO UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

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.

 
2.8

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

 
KINYO UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

Taxation

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.

 
2.10

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:

Leasehold improvements
-
20-50% straight line
Plant and machinery
-
20-50% straight line
Fixtures, fittings and equipment
-
20-50% straight line

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.

 
2.11

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.

 
2.12

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.

Page 4

 
KINYO UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Judgements in applying accounting policies 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. No significant estimates have been used in the preparation of these financial statements.


4.


Employees

The average monthly number of employees, including directors, during the year was 13 (2023 - 13).

Page 5

 
KINYO UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Office equipment
Computer equipment & software
Total

£
£
£
£
£



Cost or valuation


At 1 January 2024
66,147
279,858
32,036
127,162
505,203


Additions
2,256
-
1,184
23,356
26,796


Disposals
-
(16,194)
-
(36,694)
(52,888)



At 31 December 2024

68,403
263,664
33,220
113,824
479,111



Depreciation


At 1 January 2024
65,398
233,515
31,553
57,191
387,657


Charge for the year on owned assets
413
29,666
412
18,232
48,723


Disposals
-
(16,194)
-
(36,694)
(52,888)



At 31 December 2024

65,811
246,987
31,965
38,729
383,492



Net book value



At 31 December 2024
2,592
16,677
1,255
75,095
95,619



At 31 December 2023
749
46,343
483
69,971
117,546


6.


Stocks

2024
2023
£
£

Raw materials and consumables
544,329
666,687

Finished goods and goods for resale
370,887
435,220

915,216
1,101,907


Included within stock is a slow moving provision of £51,704 (2023: £55,811)

Page 6

 
KINYO UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Debtors


2024
2023
£
£



Trade debtors
800,242
905,965

Prepayments and accrued income
43,089
44,540

843,331
950,505



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
73,403
123,839

Amounts owed to group undertakings
746,975
991,418

Corporation tax
-
12,000

Other taxation and social security
81,794
36,876

Accruals and deferred income
39,012
56,223

941,184
1,220,356



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 cost charge represents contributions payable by the Company to the fund and amounted to £28,452 (2023 - £27,719). Contributions totalling £nil (2023 - £2,387) were payable to the fund at the balance sheet date and are included in creditors.


10.


Controlling party

The immediate parent company is  Kinyo Europe Gmbh, a company incorporated and registered in Germany. Copies of the financial statements of Kinyo Europe Gmbh are available from its registered office at Segro Park Dusseldorf-Sud, Bonner Strasse 339-341, 40589 Dusseldorf, Germany.

The ultimate parent company is  Kinyosha Company Limited, incorporated and registered in Japan. The results of  Kinyo UK Limited are included in the consolidated financial statements of Kinyosha Company Limited which are available from  Kinyosha Company Limited, 6F, Art Village Osaki Central Tower, No.2, 2, Osaki 1-Chrome, Shinagawa-Ku, Tokyo 141-0032, Japan. Kinyosha Company Limited is the smallest and largest group into which these financial statements are consolidated.

The directors are of the opinion that the company has no ultimate controlling party.
Transactions with group companies are carried out at an arms length basis.

Page 7

 
KINYO UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 13 May 2025 by James Hunt BA (Hons) MA FCA CTA (Senior Statutory Auditor) on behalf of AAB Audit & Accountancy Limited.


Page 8