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Registered number: 11028839
JAPAN CENTRE GROUP HOLDINGS LTD
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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JAPAN CENTRE GROUP HOLDINGS LTD
REGISTERED NUMBER: 11028839
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
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Creditors: amounts falling due within one year
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Net current (liabilities)/assets
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Total assets less current liabilities
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The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
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:
The notes on pages 2 to 7 form part of these financial statements.
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JAPAN CENTRE GROUP HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The principal activity of Japan Centre Group Holdings is that of a investment holding company.
The Company is a private company limited by shares and is incorporated in England and Wales.
The registered office is Unit B, Premier Park, Premier Park Road, London, United Kingdom, NW10 7NZ.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
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 (see note 3).
The following principal accounting policies have been applied:
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Financial Reporting Standard 102 - reduced disclosure exemptions
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The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).
This information is included in the consolidated financial statements of Kozosushi UK Limited as at 31 December 2024 and these financial statements may be obtained from its registered office: Unit B, Premier Park Road, London, United Kingdom, NW10 7NZ.
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Exemption from preparing consolidated financial statements
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The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
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JAPAN CENTRE GROUP HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The financial statements have been prepared on the going concern basis, which assumes that the Company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements, and will be able to meet its debts as they fall due. However, the directors are aware of certain material uncertainties which may cause doubt on the Company's ability to continue as a going concern.
At the year end, the Company was in a net asset position. The Directors have considered that the Company’s ability to continue as a going concern is dependent on the carrying value of its investment in its subsidiary.
Forecasts for the subsidiary have been prepared through to December 2029 and are based on current economic conditions with the key assumption that the restaurant will remain open for the foreseeable future. These forecasts incorporate profit improvement measures, including the control of energy costs through securing favourable fixed prices, implementation of general cost efficiencies, and marketing initiatives designed to increase customer footfall.
As a result of these projections, and continued support from group companies, the directors are confident that the Company's access to working capital and future profit generation will be sufficient to support the business in the foreseeable future, and accordingly, consider it appropriate to prepare the financial statements on a going concern basis.
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Foreign currency translation
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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.
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
Investments in subsidiaries are measured at cost less accumulated impairment.
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JAPAN CENTRE GROUP HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Cash and cash equivalents
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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.
The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like other debtors.
(i) Financial assets
Basic financial assets, including other debtors, 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.
Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
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) 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.
(ii) 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 receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.
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JAPAN CENTRE GROUP HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the Statement of Financial Position date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from these estimates.
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical judgements
The following judgements (apart from involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Assessing indicators of impairment
The directors' have determined whether there are indicators of the Company's investment in its subsidiary.
Factors taken into consideration in reaching such a decision include economic viability and expected future financial performance of the subsidiary’s retail cash generating unit (CGU). Where there are indicators of impairment, the subsidiary estimates the value of the CGU using discounted cash flows to calculate the CGU's value in use. Due to the repercussions of the macro-economic post pandemic events there is significant uncertainty in estimating the subsidiary’s future cash flows and a change in the outcome of this estimation could have an impact on impairment adjustments required.
Going concern assumption
As outlined in note 2.4, the Directors have prepared the financial statements on a going concern basis and believe this remains appropriate. The Company’s ability to continue as a going concern is, however, dependent on the carrying value of its investment in its subsidiary.
Forecasts until December 2029 for the subsidiary company have been prepared The subsidiary’s going concern assessment indicates the existence of a material uncertainty that may cast significant doubt over its ability to continue as a going concern. Consequently, this material uncertainty also extends to the Company.
These financial statements do not include any adjustments that would result if the Company were unable to continue as a going concern.
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The average monthly number of employees, including the directors, during the year was as follows:
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JAPAN CENTRE GROUP HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Investments in subsidiary companies
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The following was a subsidiary undertaking of the Company:
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Cash and cash equivalents
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JAPAN CENTRE GROUP HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Amounts owed to group undertakings are interest free and repayable on demand.
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Allotted, called up and fully paid
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3,046,000 (2023 - 3,046,000) Ordinary shares of £1.00 each
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The immediate parent is Japan Centre Group Limited, incorporated in United Kingdom.
There is no ultimate controlling party.
The parent of the smallest group and largest group in which these financial statements are consolidated is Kozosushi UK Limited, incorporated in United Kingdom. The consolidated financial statements can be available from Companies House.
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
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In their report, the auditors emphasised the following matter without qualifying their report:
We draw attention to note 2.4 in the financial statements, which indicates that the Company's ability to continue as a going concern is dependent on the carrying value of its investment in its subsidiary. The subsidiary's going concern assessment indicates the existence of a material uncertainty that may cast significant doubt over its ability to continue as a going concern. Consequently, this material uncertainty also extends to the Company. Our opinion is not modified in respect of this matter.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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The audit report was signed on 24 September 2025 by Catalina Feier FCA (Senior Statutory Auditor) on behalf of BKL Audit LLP.
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