Registered number
03675847
Japan Concept Limited
Unaudited Accounts
31 December 2024
Japan Concept Limited
Registered number: 03675847
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 15,191 16,522
Current assets
Stocks 26,340 143,541
Debtors 5 1,376,706 1,292,022
Cash at bank and in hand 671 426
1,403,717 1,435,989
Creditors: amounts falling due within one year 6 (435,414) (501,528)
Net current assets 968,303 934,461
Total assets less current liabilities 983,494 950,983
Provisions for liabilities (2,909) (3,162)
Net assets 980,585 947,821
Capital and reserves
Called up share capital 100 100
Profit and loss account 980,485 947,721
Shareholders' funds 980,585 947,821
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Caisley
Director
Approved by the board on 22 September 2025
Japan Concept Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Plant and machinery, fixtures & equipment 20% reducing balance
Computer equipment 33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 470
At 31 December 2024 470
Amortisation
At 1 January 2024 470
At 31 December 2024 470
Net book value
At 31 December 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Motor vehicles Computer equipment Fixtures and fittings Total
£ £ £ £
Cost
At 1 January 2024 68,770 878 753 70,401
Additions - 2,045 1,723 3,768
At 31 December 2024 68,770 2,923 2,476 74,169
Depreciation
At 1 January 2024 52,451 878 550 53,879
Charge for the year 4,080 52 967 5,099
At 31 December 2024 56,531 930 1,517 58,978
Net book value
At 31 December 2024 12,239 1,993 959 15,191
At 31 December 2023 16,319 - 203 16,522
5 Debtors 2024 2023
£ £
Trade debtors 262,591 209,588
Other debtors 1,114,115 1,082,434
1,376,706 1,292,022
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 118,043 162,178
Corporation tax 9,642 2,980
Other creditors and accruals 307,729 336,370
435,414 501,528
7 Related party transactions
During the year, the company received loans from a key member of management personnel. The loans are repayable on demand and the rate of interest charged is 0%. At the balance sheet date £304,862 was still outstanding (2023: £300,581) and is presented within creditors: amounts falling due within one year.
During the year, the company made loans to a company under the control of a key member of management personnel. The loan is repayable on demand and the rate of interest charged is 0%. At the balance sheet date £1,113,663 was still outstanding (2023: £1,082,090) and is presented within creditors: amounts falling due within one year.
8 Controlling party
The company is under the control of the directors.
9 Other information
Japan Concept Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3, Bearl Farm Business Park
Stocksfield
Northumberland
NE43 7AL
Japan Concept Limited 03675847 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts July 2024 J Caisley No description of principal activity 03675847 2023-01-01 2023-12-31 03675847 core:WithinOneYear 2023-12-31 03675847 core:ShareCapital 2023-12-31 03675847 core:RetainedEarningsAccumulatedLosses 2023-12-31 03675847 2024-01-01 2024-12-31 03675847 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03675847 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 03675847 bus:Director40 2024-01-01 2024-12-31 03675847 core:LandBuildings 2024-01-01 2024-12-31 03675847 core:PlantMachinery 2024-01-01 2024-12-31 03675847 core:Vehicles 2024-01-01 2024-12-31 03675847 countries:England 2024-01-01 2024-12-31 03675847 bus:FRS102 2024-01-01 2024-12-31 03675847 bus:FilletedAccounts 2024-01-01 2024-12-31 03675847 2024-12-31 03675847 core:WithinOneYear 2024-12-31 03675847 core:ShareCapital 2024-12-31 03675847 core:RetainedEarningsAccumulatedLosses 2024-12-31 03675847 core:Goodwill 2024-12-31 03675847 core:LandBuildings 2024-12-31 03675847 core:PlantMachinery 2024-12-31 03675847 core:Vehicles 2024-12-31 03675847 2023-12-31 03675847 core:Goodwill 2023-12-31 03675847 core:LandBuildings 2023-12-31 03675847 core:PlantMachinery 2023-12-31 03675847 core:Vehicles 2023-12-31 iso4217:GBP xbrli:pure