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Registered number: 08666934












ISHIZUKA GLASS (UK) LTD.
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

 
ISHIZUKA GLASS (UK) LTD.
REGISTERED NUMBER:08666934

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
-
94,554

Debtors: amounts falling due within one year
 4 
19,363
-

Cash at bank and in hand
  
113,006
133,705

  
132,369
228,259

Creditors: amounts falling due within one year
 5 
(18,296)
(119,908)

Net current assets
  
 
 
114,073
 
 
108,351

Total assets less current liabilities
  
114,073
108,351

  

Net assets
  
114,073
108,351


Capital and reserves
  

Called up share capital 
 6 
40,000
40,000

Profit and loss account
  
74,073
68,351

  
114,073
108,351


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 on 10 June 2025.




................................................
M Nomura
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
ISHIZUKA GLASS (UK) LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Ishizuka Glass (UK) Ltd. is a private company limited by shares and incorporated in England and Wales. The registered office address and place of business is Riverbank House, 2 Swan Lane, London, EC4R 3TT.

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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis due to the ongoing provision of services to the parent company and receiving service fees in accordance with the service agreement. The directors consider this basis to be appropriate as the company has received a letter of financial support from its parent company. 

Page 2

 
ISHIZUKA GLASS (UK) LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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:

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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

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.


 
2.5

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.

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.

Page 3

 
ISHIZUKA GLASS (UK) LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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 Sections 11 and 12 of FRS 102 in respect of financial instruments.
 
Financial assets and financial liabilities are recognised when the company becomes party to the
contractual provisions of the instrument.
 
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in
the assets of the company after deducting all of its liabilities.
 
The company’s policies for its major classes of financial assets and financial liabilities are set out
below.
 
Financial assets
 
Basic financial assets, including other debtors, cash and bank balances, intercompany
working capital balances, and intercompany financing are initially recognised at transaction price,
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 for a similar debt
instrument. Financing transactions are those in which payment is deferred beyond normal business
terms or is financed at a rate of interest that is not a market rate.
 
Such assets are subsequently carried at amortised cost using the effective interest method, less any
impairment.
 
Financial liabilities
 
Basic financial liabilities, including other creditors, are initially recognised at transaction
price, unless the arrangement constitutes a financing transaction, where the debt instrument is
measured at the present value of the future payments discounted at a market rate of interest for a
similar debt instrument. Financing transactions are those in which payment is deferred beyond
normal business terms or is financed at a rate of interest that is not a market rate.
 
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
 
Impairment of financial assets
 
Financial assets measured at cost and amortised cost are assessed at the end of each reporting
period for objective evidence of impairment. If objective evidence of impairment is found, an
impairment loss is recognised in the profit and loss account.
 
For financial assets measured at cost less impairment, the impairment loss is measured as the
difference between the asset's carrying amount and the best estimate of the amount the company
would receive for the asset if it were to be sold at the reporting date.
 
Page 4

 
ISHIZUKA GLASS (UK) LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

For financial assets measured at amortised cost, the impairment loss is measured as the difference
between the asset's carrying amount and the present value of estimated cash flows discounted at the
asset's original effective interest rate. If the financial asset has a variable interest rate, the discount
rate for measuring any impairment loss is the current effective interest rate determined under the
contract.
 
If there is a decrease in the impairment loss arising from an event occurring after the impairment was
recognised, the impairment is reversed. The reversal is such that the current carrying amount does
not exceed what the carrying amount would have been had the impairment not previously been
recognised. The impairment reversal is recognised in profit or loss.
 
Derecognition of financial assets and financial liabilities
 
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset
expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are
transferred to another party or (c) despite having retained some significant risks and rewards of
ownership, control of the asset has been transferred to another party who has the practical ability to
unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual
obligation is discharged, cancelled or expires.
 
Offsetting of financial assets and financial liabilities
 
Financial assets and liabilities are offset and the net amount reported in the balance sheet when
there is an enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.

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.
 
Debt instruments (other than those wholly repayable or receivable within one year), including loans
and other accounts receivable and payable, are initially measured at present value of the future cash
flows and subsequently at amortised cost using the effective interest method. Debt instruments that
are payable or receivable within one year, typically trade debtors and creditors, are measured, initially
and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid
or received. However, if the arrangements of a short-term instrument constitute a financing
transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an
out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially
at the present value of future cash flows discounted at a market rate of interest for a similar debt
instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the
case of a small company, or a public benefit entity concessionary loan.
 
For financial assets measured at amortised cost, the impairment loss is measured as the difference
between an asset's carrying amount and the present value of estimated cash flows discounted at the
asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate
for measuring any impairment loss is the current effective interest rate determined under the
contract.

Page 5

 
ISHIZUKA GLASS (UK) LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Share Capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as deduction, net of tax, from the proceeds.


3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2023 - 0).


4.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
19,163
-

Other debtors
200
-

19,363
-



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
46
-

Other taxation and social security
-
1,088

Accruals and deferred income
18,250
118,820

18,296
119,908



6.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



40,000 (2023 - 40,000) Ordinary share shares of £1.00 each
40,000
40,000



7.


Related party transactions

The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party
Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.

Page 6

 
ISHIZUKA GLASS (UK) LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Controlling party

The immediate and ultimate parent company and controlling party is Ishizuka Glass Co., Ltd. incorporated in Japan. A copy of Ishizuka Glass Co., Ltd group financial statements can be obtained from 1880, Kawai-cho, Iwakura-shi, Aichi 482-8510 Japan.


9.


Auditors' information

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

The audit report was signed on 10 June 2025 by Yusuke Takanishi (Senior statutory auditor) on behalf of Blick Rothenberg Audit LLP.

Page 7