Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-31 2024-12-31 9 2024-01-01 true true false No description of principal activity 10 false 02591966 2024-01-01 2024-12-31 02591966 2023-01-01 2023-12-31 02591966 2024-12-31 02591966 2023-12-31 02591966 2023-01-01 02591966 c:Director1 2024-01-01 2024-12-31 02591966 d:Buildings d:LongLeaseholdAssets 2024-01-01 2024-12-31 02591966 d:Buildings d:LongLeaseholdAssets 2024-12-31 02591966 d:Buildings d:LongLeaseholdAssets 2023-12-31 02591966 d:OfficeEquipment 2024-01-01 2024-12-31 02591966 d:OfficeEquipment 2024-12-31 02591966 d:OfficeEquipment 2023-12-31 02591966 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02591966 d:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 02591966 d:OtherPropertyPlantEquipment 2024-12-31 02591966 d:OtherPropertyPlantEquipment 2023-12-31 02591966 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02591966 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02591966 d:CurrentFinancialInstruments 2024-12-31 02591966 d:CurrentFinancialInstruments 2023-12-31 02591966 d:Non-currentFinancialInstruments 2024-12-31 02591966 d:Non-currentFinancialInstruments 2023-12-31 02591966 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 02591966 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02591966 d:ShareCapital 2024-01-01 2024-12-31 02591966 d:ShareCapital 2024-12-31 02591966 d:ShareCapital 2023-01-01 2023-12-31 02591966 d:ShareCapital 2023-12-31 02591966 d:ShareCapital 2023-01-01 02591966 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 02591966 d:RetainedEarningsAccumulatedLosses 2024-12-31 02591966 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 02591966 d:RetainedEarningsAccumulatedLosses 2023-12-31 02591966 d:RetainedEarningsAccumulatedLosses 2023-01-01 02591966 c:OrdinaryShareClass1 2024-01-01 2024-12-31 02591966 c:OrdinaryShareClass1 2024-12-31 02591966 c:OrdinaryShareClass1 2023-12-31 02591966 c:FRS102 2024-01-01 2024-12-31 02591966 c:Audited 2024-01-01 2024-12-31 02591966 c:FullAccounts 2024-01-01 2024-12-31 02591966 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02591966 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02591966 2 2024-01-01 2024-12-31 02591966 7 2024-01-01 2024-12-31 02591966 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Company registered number: 02591966 KAWASAKI HEAVY INDUSTRIES (UK) LTD DIRECTORS' REPORT AND AUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
KAWASAKI HEAVY INDUSTRIES (UK) LTD REGISTERED NUMBER: 02591966 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 18,217 |  | 7,764
Debtors More Than One Year | 5 |  | 41,972 |  | 41,972
|  |  | 60,189 |  | 49,736
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 661,564 |  | 653,705 |
Cash at bank and in hand | 6 | 792,777 |  | 686,730 |
|  | 1,454,341 |  | 1,340,435 |
Creditors: amounts falling due within one year | 7 | (236,427) |  | (256,893) |
Net current assets |  |  | 1,217,914 |  | 1,083,542
Total assets less current liabilities |  |  | 1,278,103 |  | 1,133,278
Net assets |  |  | 1,278,103 |  | 1,133,278
Capital and reserves |  |  |  |  |
Called up share capital | 8 |  | 500,000 |  | 500,000
Profit and loss account |  |  | 778,103 |  | 633,278
|  |  | 1,278,103 |  | 1,133,278
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 comprehensive income 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 behalfby 28 August 2025.
Hidenori Imaoka
Director
The notes on pages 4 to 11 form part of these financial statements. Page 1
KAWASAKI HEAVY INDUSTRIES (UK) LTD STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 January 2024 | 500,000 | 633,278 | 1,133,278
Comprehensive income for the year |  |  |
Profit for the year | - | 144,825 | 144,825
Other comprehensive income for the year | - | - | -
Total comprehensive income for the year | - | 144,825 | 144,825
Total transactions with owners | - | - | -
At 31 December 2024 | 500,000 | 778,103 | 1,278,103
| The notes on pages 4 to 11 form part of these financial statements.
Page 2
KAWASAKI HEAVY INDUSTRIES (UK) 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 2023 | 500,000 | 1,162,934 | 1,662,934
Comprehensive income for the year |  |  |
Profit for the year | - | 123,344 | 123,344
Other comprehensive income for the year | - | - | -
Total comprehensive income for the year | - | 123,344 | 123,344
Contributions by and distributions to owners |  |  |
Dividends: Equity capital | - | (653,000) | (653,000)
Total transactions with owners | - | (653,000) | (653,000)
At 31 December 2023 | 500,000 | 633,278 | 1,133,278
| The notes on pages 4 to 11 form part of these financial statements.
Page 3
KAWASAKI HEAVY INDUSTRIES (UK) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Kawasaki Heavy Industries (UK) Limited is a private company limited by shares incorporated in England in the UK. The address of its registered office is New Broad Street House, 35 New Broad Street, London, United Kingdom EC2M 1NH. The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 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
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
| 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: 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. Page 4
KAWASAKI HEAVY INDUSTRIES (UK) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | 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.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | 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.
| 2.7 | 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. Page 5
KAWASAKI HEAVY INDUSTRIES (UK) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.8 | 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. The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred. 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:
|  |  |  | Long-term leasehold property | - | 50% - 67% per annum
|  |  |  | Office equipment | - | 20% - 50% per annum
|  |  |  | Other fixed assets | - | 20% per annum
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.
| 2.9 | 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.
| 2.10 | 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 a deduction, net of tax, from the proceeds.
| 2.11 | Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date. Page 6
KAWASAKI HEAVY INDUSTRIES (UK) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.12 | Financial instruments
The company has elected to apply Section 11 and 12 of FRS 102 in respect of financial instruments. Financial assets and 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 trade and 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 trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 7
KAWASAKI HEAVY INDUSTRIES (UK) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.12 | 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.
| 2.13 | 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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 10 (2023 - 9).
Page 8
KAWASAKI HEAVY INDUSTRIES (UK) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Tangible fixed assets
|  | Leasehold improvement | Office equipment | Other fixed assets | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 January 2024 | - | 16,567 | 2,338 | 18,905
| Additions | 14,105 | 1,108 | - | 15,213
| Disposals | - | (8,472) | - | (8,472)
| At 31 December 2024 | 14,105 | 9,203 | 2,338 | 25,646
| Depreciation |  |  |  |
| At 1 January 2024 | - | 10,835 | 306 | 11,141
| Charge for the year | 2,545 | 1,747 | 468 | 4,760
| Disposals | - | (8,472) | - | (8,472)
| At 31 December 2024 | 2,545 | 4,110 | 774 | 7,429
| Net book value |  |  |  |
| At 31 December 2024 | 11,560 | 5,093 | 1,564 | 18,217
| At 31 December 2023 | - | 5,732 | 2,032 | 7,764
Page 9
KAWASAKI HEAVY INDUSTRIES (UK) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Due after more than one year |  |
| Other debtors | 41,000 | 41,000
| Deferred tax asset | 972 | 972
|  | 41,972 | 41,972
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Due within one year |  |
| Amounts owed by group undertakings | 531,356 | 565,143
| Other debtors | 52,343 | 28,812
| Prepayments and accrued income | 77,865 | 59,750
|  | 661,564 | 653,705
6. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 792,777 | 686,730
|  | 792,777 | 686,730
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 34,714 | 19,986
| Corporation tax | 23,543 | 21,738
| Other creditors | 125,800 | 159,671
| Accruals and deferred income | 52,370 | 55,498
|  | 236,427 | 256,893
Page 10
KAWASAKI HEAVY INDUSTRIES (UK) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
8. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 500,000 (2023 - 500,000) Ordinary shares of £1.00 each | 500,000 | 500,000
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 charge represents contributions payable by the company and amounted to £4,680 (2023: £4,406).
10. | 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.
11. | Parent undertaking
The company's ultimate parent company and ultimate controlling party is Kawasaki Heavy Industries Ltd, a company incorporated in Japan. The consolidated accounts of Kawasaki Heavy Industries Ltd are available to the public and may be obtained from 3-1-1, Higashi Kawasaki-Cho, Chuo-ku, Kobe, Japan.
12. | Auditor's information
The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 28 August 2025 by Yusuke Takanishi (senior statutory auditor) on behalf of Blick Rothenberg Audit LLP.
Page 11