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Registered number: 02318517









"K" LINE LOGISTICS (UK) LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

 
"K" LINE LOGISTICS (UK) LIMITED
REGISTERED NUMBER: 02318517

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
                                                                     Note
£
£

Fixed assets
  

Tangible assets
 4 
173,925
110,340

Current assets
  

Debtors: amounts falling due within one year
 5 
868,193
739,560

Cash at bank and in hand
  
1,922,241
2,297,533

  
2,790,434
3,037,093

Creditors: amounts falling due within one year
 6 
(836,686)
(826,067)

Net current assets
  
 
 
1,953,748
 
 
2,211,026

  

Net assets
  
2,127,673
2,321,366


Capital and reserves
  

Called up share capital 
 7 
200,000
200,000

Profit and loss account
  
1,927,673
2,121,366

  
2,127,673
2,321,366


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: 




J Imamura
Director

Date: 29 May 2025

The notes on pages 2 to 8 form part of these financial statements.
Page 1

 
"K" LINE LOGISTICS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

"K" Line Logistics (UK) Limited ("the company") is a private company limited by shares, incorporated in
England and Wales. Its registration number is 02318517. The registered office is 671 Spur Road, North
Feltham Trading Estate, Middlesex, TW14 0SL.

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.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. 

 
2.3

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:

- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due; and
- the costs incurred or to be incurred in respect of the contract can be measured reliably.
 
The company provides sea and air export and import freight services to its customers. The revenue
for those services is recognised as follows:

- Air export revenue is recognised once the despatch details and price have been agreed with the
client.
- Sea export revenue is recognised once the vessel has departed the U.K.
- Air and Sea import revenue for customers with a credit account is recognised once the item is
delivered and the proof of delivery is signed by the customer.
- Air and Sea import revenue for customers with no credit account is recognised once the order is
agreed.
- Revenue relating to disbursements is recognised once the company has incurred the costs on
behalf of the customer and completed all work necessary.
 

Page 2

 
"K" LINE LOGISTICS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.4

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, using the straight-line method or using the reducing balance basis, as
applicable.

Depreciation is provided on the following annual bases:

Short-term leasehold improvements
-
Over the life of the lease
Plant and machinery
-
15%
reducing balance
Fixtures and fittings
-
15%
reducing balance
Computer software
-
33%
straight line

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.6

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. 

 
2.7

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.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. 

Page 3

 
"K" LINE LOGISTICS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

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.

 
2.12

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 balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 4

 
"K" LINE LOGISTICS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.13

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 balance sheet 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 balance sheet 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 balance sheet date.



3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2024 - 17).

Page 5

 
"K" LINE LOGISTICS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Fixtures, fittings and equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2024
203,752
46,158
384,894
634,804


Additions
64,063
12,627
20,232
96,922



At 31 March 2025

267,815
58,785
405,126
731,726



Depreciation


At 1 April 2024
172,044
26,593
325,827
524,464


Charge for the year on owned assets
14,119
4,762
14,456
33,337



At 31 March 2025

186,163
31,355
340,283
557,801



Net book value



At 31 March 2025
81,652
27,430
64,843
173,925



At 31 March 2024
31,708
19,565
59,067
110,340




The net book value of land and buildings may be further analysed as follows:


2025
2024
£
£

Short leasehold improvements
81,652
31,708



5.


Debtors

2025
2024
£
£


Trade debtors
98,499
141,659

Amounts owed by group undertakings
337,564
266,260

Other debtors
43,938
37,296

Prepayments and accrued income
388,192
294,345

868,193
739,560


Page 6

 
"K" LINE LOGISTICS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

6.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
383,656
334,202

Amounts owed to group undertakings
80,683
49,509

Other taxation and social security
22,370
21,116

Other creditors
6,118
6,118

Accruals and deferred income
343,859
415,122

836,686
826,067


Included within trade creditors is an amount of £24,003 (2024 - £58,357) in respect of duty deferment. Mizuho Bank Limited has provided a guarantee against this amount.
The company's parent undertaking has also provided a guarantee for this duty deferment creditor for the next twelve months.


7.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



200,000 (2024 - 200,000) Ordinary shares of £1 each
200,000
200,000



8.


Pension commitments

The company contributes to personal pension schemes and the pension charge represents the amounts payable by the company to the funds in respect of the year. The assets of the schemes are held separately from those of the company in independently administered funds. During the year the company contributed £17,638 (2024 - £15,655) to the funds. No pension contributions were owed or owing at the end of either the current or the prior year.


9.


Commitments under operating leases

At 31 March 2025 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2025
2024
£
£


Not later than 1 year
227,699
222,202

Later than 1 year and not later than 5 years
411,730
627,380

639,429
849,582

Page 7

 
"K" LINE LOGISTICS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

10.


Related party transactions

The company has taken advantage of the exemption, under FRS 102 paragraph 1.12 and paragraph
33.1A, from disclosing transactions with key management and from disclosing other related party 
transactions as they are with other companies that are wholly owned within the group. The company is a 
wholly owned subsidiary of the Kawasaki Kisen Kaisha group.


11.


Controlling party

The ultimate parent company is Kawasaki Kisen Kaisha, a company incorporated in Japan. Copies of the 
financial statements of Kawasaki Kisen Kaisha can be obtained from Hibiya Central Building, 2-9 Nishi-
Shinbasi 1-Chrome, Minato-ku, Tokyo 105, Japan. The ultimate controlling party is "K" Line Logistics Ltd,
a company incorporated in Japan.


12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 30 May 2025 by Graham Wallace (senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 8