Kakinuma (Europe) Limited

Contents

Statement of Financial Position	1
Notes to the Financial Statements	2 to 7

Kakinuma (Europe) Limited

(Registration number: 04042697)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	194	258
Current assets
Stocks		202,555	221,243
Debtors	6	150,134	163,174
Cash at bank and in hand		511,999	646,883
		864,688	1,031,300
Creditors: Amounts falling due within one year	7	(631,230)	(760,749)
Net current assets		233,458	270,551
Net assets		233,652	270,809
Capital and reserves
Called up share capital		30,000	30,000
Profit and loss account		203,652	240,809
Shareholders' funds		233,652	270,809

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 1 September 2025 and signed on its behalf by:
 

J Kakinuma Director

Kakinuma (Europe) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Plym House,
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of the sale of air conditioning components.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

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

Kakinuma (Europe) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 2 September 2025 was Adam Croney ACA, who signed for and on behalf of Westcotts (SW) LLP.

.........................................

Judgements 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.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises turnover on completion of delivery of goods.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Kakinuma (Europe) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Computer equipment	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Kakinuma (Europe) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Kakinuma (Europe) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

4	Auditors' remuneration

	2025 £	2024 £
Audit of the financial statements	5,250	5,000

 

5	Tangible assets

	Plant and machinery £	Computer equipment £	Total £
Cost or valuation
At 1 April 2024	19,298	698	19,996
At 31 March 2025	19,298	698	19,996
Depreciation
At 1 April 2024	19,126	612	19,738
Charge for the year	43	21	64
At 31 March 2025	19,169	633	19,802
Carrying amount
At 31 March 2025	129	65	194
At 31 March 2024	172	86	258

6

Debtors

	2025 £	2024 £
Trade debtors	149,256	162,250
Prepayments	878	924
	150,134	163,174

Kakinuma (Europe) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Trade creditors	547,429	674,573
Amounts owed to group undertakings	16,464	34,683
Taxation and social security	4,408	6,857
Other creditors	62,929	44,636
	631,230	760,749

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9	Related party transactions

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.

During the year purchases totalling £1,629,275 (2024 £1,552,195) were made from a related company. At the balance sheet date the amount owing to the related party was £547,429 (2024 £672,578)

10	Parent and ultimate parent undertaking

The company's immediate parent is Kakinuma Kinzoku Seiki Co. Limited, registered in Japan, which is under the control of J Kakinuma.