Sigma Imaging (UK) Limited Company accounts

COMPANY REGISTRATION NUMBER: 04114616

Sigma Imaging (UK) Limited

Financial Statements

30 June 2025

Sigma Imaging (UK) Limited

Financial Statements

Year ended 30 June 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Director's report	3

Independent auditor's report to the members	5

Statement of income and retained earnings	9

Statement of financial position	10

Statement of cash flows	11

Notes to the financial statements	12

Sigma Imaging (UK) Limited

Officers and Professional Advisers

Director	Mr K Yamaki

Company secretary	Mr Y Toden

Registered office	1 Little Mundells
	Welwyn Garden City
	Herts
	AL7 1EW

Auditor	Hardcastle Burton
	Chartered accountants & statutory auditor
	36 Dene Road
	Northwood
	Middlesex
	HA6 2DA

Bankers	Barclays Bank PLC
	22-24 Upper Marlborough Road
	St Albans
	Herts
	AL1 3HJ

	Mizuho Corporate Bank
	30 Old Bailey
	London
	EC4M 7AU

Solicitors	Debenhams Ottaway
	Ivy House
	107 St Peter's Street
	St Albans
	Herts
	AL1 3EW

Sigma Imaging (UK) Limited

Strategic Report

Year ended 30 June 2025

Sigma Imaging (UK) Limited is a wholly owned subsidiary of the Sigma Corporation of Japan. The Sigma Corporation is a world leader in the optical field with top quality lenses and cameras being distributed through an impressive worldwide network of offices and distributors. Though a major force in the photographic industry, the Corporation remains a family owned business with all the high standards and personal integrity that this implies. Sigma Imaging (UK) Limited is based in Welwyn Garden City where our sales, marketing and administration team is located alongside our warehouse and distribution operation. The same premises house our Service Department, manned by Sigma-trained technicians, which offers technical support and repair facilities to our customers. Technology moves on but Sigma's well earned reputation for originality, optical design, build quality and after sales support remains a constant reassurance for today's photographer. The director is pleased to report a satisfactory performance for the year ended 30 June 2025. Turnover has increased by 2.6% to £9,151,034, (2024:£8,915,649). All other KPIs show a continued strong performance. The principal uncertainties as at 30 June, 2025 were the continued possible effects of Brexit, rising costs and the supply and demand issues arising from the war in Ukraine. The company will continue to make every effort to mitigate the adverse effects of both these factors. The director sets out the company's Anti Slavery and Human Trafficking Policy which is as follows:' Sigma Imaging (UK) Limited is a wholly owned subsidiary of the SIGMA Corporation of Japan. We are based in the UK and import and distribute photo/imaging equipment to customers based solely in the UK. We also offer repair and servicing facilities to the same geographical area. We do not source raw materials or manufacture in the UK. Our supply chain is very direct and simple as we obtain all our products, as finished goods, from our parent company in Japan. Sigma Imaging (UK) Limited and our parent company share the same commitment to acting ethically and with integrity in all our business relationships. Sigma's philosophy is to demonstrate both an economic and cultural responsibility to the communities we serve and consideration for the environment. Our employees are aware of the evils of slavery and human trafficking and of the company's attitude of zero tolerance. We expect the same high values from our suppliers and contractors. Our commitment to human rights and supply chain accountability will enable consumers to enjoy greater confidence in the SIGMA goods and services they choose.'

This report was approved by the board of directors on 11 August 2025 and signed on behalf of the board by:

Mr K Yamaki
Director

Registered office:

1 Little Mundells

Welwyn Garden City

Herts

AL7 1EW

Sigma Imaging (UK) Limited

Director's Report

Year ended 30 June 2025

The director presents his report and the financial statements of the company for the year ended 30 June 2025 .

Director

The director who served the company during the year was as follows:

Mr K Yamaki

Dividends

The director does not recommend the payment of a dividend.

Disclosure of information in the strategic report

Director's responsibilities statement

The director is responsible for preparing the strategic report, director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the director is required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 11 August 2025 and signed on behalf of the board by:

Mr K Yamaki
Director

Registered office:

1 Little Mundells

Welwyn Garden City

Herts

AL7 1EW

Sigma Imaging (UK) Limited

Independent Auditor's Report to the Members of Sigma Imaging (UK) Limited

Year ended 30 June 2025

Opinion

We have audited the financial statements of Sigma Imaging (UK) Limited (the 'company') for the year ended 30 June 2025 which comprise the statement of income and retained earnings, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the strategic report and the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the director's report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the director's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of director's remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of the director

As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements for companies operating within this sector, through our own experience as well as through discussion with management and those charged with governance and inspection of regulatory and legal correspondence. We reviewed policies and procedures regarding compliance with laws and regulation and remained alert throughout our audit to any implications of non- compliance, with areas of highest risk communicated to all members of the audit team. The company is subject to laws and regulations directly affecting the financial statements including financial reporting legislation and taxation legislation which we assessed compliance with as part of our review of related financial statement items. This includes the Companies Act 2006 as referenced above. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected a material misstatement within the financial statements while performing our audit in accordance with applicable audit standards. Irregularities may involve a collusion, forgery, intentional omissions, misrepresentations or override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uk/auditors responsibilities. This description forms part of our auditor's report. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director. - Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report

This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Margaret Jill Anthony FCA

(Senior Statutory Auditor)

For and on behalf of

Hardcastle Burton

Chartered accountants & statutory auditor

36 Dene Road

Northwood

Middlesex

HA6 2DA

11 August 2025

Sigma Imaging (UK) Limited

Statement of Income and Retained Earnings

Year ended 30 June 2025

		2025	2024
Note		£	£
Turnover	4	9,151,034	8,915,649

Cost of sales	6,921,126	6,606,008
	------------	------------
Gross profit	2,229,908	2,309,641

Administrative expenses		1,732,363	1,569,729
		------------	------------
Operating profit	5	497,545	739,912

Other interest receivable and similar income	8	–	3,838
Interest payable and similar expenses	9	–	4,906
		------------	------------
Profit before taxation		497,545	738,844

Tax on profit	10	124,083	185,523
		---------	---------
Profit for the financial year and total comprehensive income		373,462	553,321
		---------	---------

Retained earnings at the start of the year	17,801,954	17,248,633
	-------------	-------------
Retained earnings at the end of the year	18,175,416	17,801,954
	-------------	-------------

All the activities of the company are from continuing operations.

Sigma Imaging (UK) Limited

Statement of Financial Position

30 June 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	11		71,508	20,797

Current assets

Stocks	12	1,410,539	1,868,307
Debtors	13	1,756,995	1,257,122
Cash at bank and in hand		16,739,735	16,548,465
		-------------	-------------
		19,907,269	19,673,894

Creditors: amounts falling due within one year	14	678,361		767,737
		-------------		-------------
Net current assets			19,228,908	18,906,157
			-------------	-------------
Total assets less current liabilities			19,300,416	18,926,954
			-------------	-------------
Net assets			19,300,416	18,926,954
			-------------	-------------

Capital and reserves

Called up share capital	16	1,125,000	1,125,000
Profit and loss account		18,175,416	17,801,954
		-------------	-------------
Shareholders funds		19,300,416	18,926,954
		-------------	-------------

These financial statements were approved by the board of directors and authorised for issue on 11 August 2025 , and are signed on behalf of the board by:

Mr K Yamaki
Director

Company registration number: 04114616

Sigma Imaging (UK) Limited

Statement of Cash Flows

Year ended 30 June 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	373,462	553,321

Adjustments for:
Depreciation of tangible assets	12,583	6,933
Other interest receivable and similar income	–	( 3,838)
Interest payable and similar expenses	–	4,906
Tax on profit	124,083	185,523
Accrued expenses/(income)	7,679	( 2,547)

Changes in:
Stocks	457,768	601,825
Trade and other debtors	( 499,873)	98,272
Trade and other creditors	8,010	( 75,743)
	---------	------------
Cash generated from operations	483,712	1,368,652

Interest paid	–	( 4,906)
Interest received	–	3,838
Tax paid	( 166,959)	( 185,931)
	---------	------------
Net cash from operating activities	316,753	1,181,653
	---------	------------

Cash flows from investing activities

Purchase of tangible assets	( 63,294)	–
	---------	------------
Net cash used in investing activities	( 63,294)	–
	---------	------------

Cash flows from financing activities

Proceeds from loans from group undertakings	( 62,189)	( 4,615)
	---------	------------
Net cash used in financing activities	( 62,189)	( 4,615)
	---------	------------

Net increase in cash and cash equivalents	191,270	1,177,038
Cash and cash equivalents at beginning of year	16,548,465	15,371,427
	-------------	-------------
Cash and cash equivalents at end of year	16,739,735	16,548,465
	-------------	-------------

Sigma Imaging (UK) Limited

Notes to the Financial Statements

Year ended 30 June 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Little Mundells, Welwyn Garden City, Herts, AL7 1EW.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows: Plant 25% reducing balance method Fixtures and fittings 25% reducing balance method

Equipment 25% reducing balance method

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to sell. Cost includes all costs of purchase and other costs incurred in bringing the stock to its present location and condition. The cost of stock is based on an average price method.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Turnover

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Operating profit

Operating profit or loss is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	12,583	6,933
	--------	-------

6. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	19,187	17,957
	--------	--------

7. Staff costs

The average number of persons employed by the company during the year, including the director, amounted to:

	2025	2024
	No.	No.
Distribution staff	14	14
Administrative staff	2	2
	----	----
	16	16
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	719,772	702,580
Social security costs	73,423	73,472
Other pension costs	90,573	88,832
	---------	---------
	883,768	864,884
	---------	---------

8. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	–	3,838
	----	-------

9. Interest payable and similar expenses

	2025	2024
	£	£
Interest on banks loans and overdrafts	–	4,906
	----	-------

10. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	124,083	185,523
	---------	---------
Tax on profit	124,083	185,523
	---------	---------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	497,545	738,844
	---------	---------
Profit on ordinary activities by rate of tax	( 124,386)	( 184,711)
Effect of expenses not deductible for tax purposes	( 1,194)	( 1,198)
Effect of capital allowances and depreciation	1,497	386
	---------	---------
Tax on profit	(124,083)	(185,523)
	---------	---------

11. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 July 2024	41,998	8,576	50,574
Additions	63,294	–	63,294
	---------	-------	---------
At 30 June 2025	105,292	8,576	113,868
	---------	-------	---------
Depreciation
At 1 July 2024	24,668	5,109	29,777
Charge for the year	11,717	866	12,583
	---------	-------	---------
At 30 June 2025	36,385	5,975	42,360
	---------	-------	---------
Carrying amount
At 30 June 2025	68,907	2,601	71,508
	---------	-------	---------
At 30 June 2024	17,330	3,467	20,797
	---------	-------	---------

12. Stocks

	2025	2024
	£	£
Finished goods and goods for resale	1,410,539	1,868,307
	------------	------------

13. Debtors

	2025	2024
	£	£
Trade debtors	1,523,712	1,214,711
Amounts owed by group undertakings	188,707	–
Prepayments and accrued income	44,576	42,411
	------------	------------
	1,756,995	1,257,122
	------------	------------

14. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	58,791	52,292
Amounts owed to group undertakings	–	62,189
Accruals and deferred income	348,984	341,305
Corporation tax	69,395	112,271
Social security and other taxes	201,191	199,680
	---------	---------
	678,361	767,737
	---------	---------

15. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 90,573 (2024: £ 88,832 ).

16. Called up share capital

Authorised share capital

	2025		2024
	No.	£	No.	£
Ordinary Fully paid shares of £ 1 each	5,000,000	5,000,000	5,000,000	5,000,000
	------------	------------	------------	------------

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary Fully paid shares of £ 1 each	1,125,000	1,125,000	1,125,000	1,125,000
	------------	------------	------------	------------

17. Analysis of changes in net debt

	At 1 Jul 2024	Cash flows	At 30 Jun 2025
	£	£	£
Cash at bank and in hand	16,548,465	191,270	16,739,735
Debt due within one year	(62,189)	62,189	–
	-------------	---------	-------------
	16,486,276	253,459	16,739,735
	-------------	---------	-------------

18. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	79,000	79,000
Later than 1 year and not later than 5 years	237,000	316,000
Later than 5 years	158,000	237,000
	---------	---------
	474,000	632,000
	---------	---------

19. Related party transactions

No remuneration was paid to directors during the year.

20. Controlling party

The company's ultimate parent company is as specified in note 18 to the accounts.