REGISTERED NUMBER: 04336209 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Itaya Europe Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs H Itaya

Mr T Itaya

SECRETARY:

Mrs H Itaya

REGISTERED OFFICE:

2nd Floor Turnpike Gatehouse

Birmingham Road

Alcester Heath

Warwickshire

B49 5JG

REGISTERED NUMBER:

04336209 (England and Wales)

SENIOR STATUTORY AUDITOR:

Colm McGrory FCA

AUDITORS:

Ormerod Rutter Limited

The Oakley

Kidderminster Road

Droitwich

Worcestershire

WR9 9AY

FIXED ASSETS

Tangible assets

4

51,312

57,831

CURRENT ASSETS

Stocks

5

602,449

521,859

Debtors

6

842,874

462,059

Cash at bank and in hand

1,030,500

1,234,487

2,475,823

2,218,405

CREDITORS

Amounts falling due within one year

7

607,423

427,073

NET CURRENT ASSETS

1,868,400

1,791,332

TOTAL ASSETS LESS CURRENT LIABILITIES

1,919,712

1,849,163

CAPITAL AND RESERVES

Called up share capital

10

400,000

400,000

Retained earnings

11

1,519,712

1,449,163

SHAREHOLDERS' FUNDS

1,919,712

1,849,163

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

Mrs H Itaya - Director

1.	STATUTORY INFORMATION

Itaya Europe Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Warranties

Provision is made for the estimated liability on all products still under warranty, including claims already received. The provision is based on past experience of claims arising in the warranty periods.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

74,019

13,448

29,176

27,593

144,236

Additions

-

-

-

3,121

3,121

At 31 December 2024

74,019

13,448

29,176

30,714

147,357

DEPRECIATION

At 1 January 2024

22,402

10,881

27,351

25,771

86,405

Charge for year

7,402

385

456

1,397

9,640

At 31 December 2024

29,804

11,266

27,807

27,168

96,045

NET BOOK VALUE

At 31 December 2024

44,215

2,182

1,369

3,546

51,312

At 31 December 2023

51,617

2,567

1,825

1,822

57,831

5.

STOCKS

2024

2023

£

£

Stocks

602,449

521,859

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

670,500

289,080

Amounts owed by group undertakings

15,639

31,690

Other debtors

41,062

5,860

VAT

4,110

8,768

Deferred tax asset

99,483

113,909

Prepayments

12,080

12,752

842,874

462,059

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

83,896

35,593

Amounts owed to group undertakings

5,677

205,722

Social security and other taxes

17,086

21,100

Pension control

1,099

-

Other creditors

483,021

144,363

Credit card account

1,396

1,328

Accrued expenses

15,248

18,967

607,423

427,073

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

16,155

11,464

Between one and five years

32,576

13,195

48,731

24,659

Hire purchase contracts are secured against the assets to which they relate to.

9.	DEFERRED TAX

£

Balance at 1 January 2024

(113,909

)

Provided during year

14,426

Balance at 31 December 2024

(99,483

)

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

400,000

Ordinary

£1

400,000

400,000

11.

RESERVES

Retained

earnings

£

At 1 January 2024

1,449,163

Profit for the year

70,549

At 31 December 2024

1,519,712

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Colm McGrory FCA (Senior Statutory Auditor)

for and on behalf of Ormerod Rutter Limited

13.	PARENT COMPANY

The ultimate parent company is ltaya Engineering Limited, a company that is registered in Japan. The company owns 100% of the issued share capital of ltaya Europe Limited.

Copies of the ltaya Engineering Limited financial statements can be obtained from the company secretary at 504 Matsuhidai, Matsuda-Shi, 270-2214, Chiba, Japan.