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Registered number: 15464123 SHORYU WORLD LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE PERIOD ENDED 31 DECEMBER 2024
SHORYU WORLD LIMITED REGISTERED NUMBER: 15464123 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024
Note |  | £
Fixed assets |  |  |
Tangible assets | 4 |  | 130,053
|  |  | 130,053
Current assets |  |  |
Stocks | 5 | 5,004 |
Debtors: amounts falling due after more than one year | 6 | 90,000 |
Debtors: amounts falling due within one year | 6 | 82,707 |
Cash at bank and in hand | 7 | 38,286 |
|  | 215,997 |
Creditors: amounts falling due within one year | 8 | (440,344) |
Net current (liabilities)/assets |  |  | (224,347)
Total assets less current liabilities |  |  | (94,294)
Creditors: amounts falling due after more than one year | 9 |  | (51,730)
Net (liabilities)/assets |  |  | (146,024)
Capital and reserves |  |  |
Called up share capital | 10 |  | 1
Profit and loss account |  |  | (146,025)
|  |  | (146,024)
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 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:
H Tokumine
Director
Date: 1 October 2025
The notes on pages 2 to 9 form part of these financial statements. Page 1
SHORYU WORLD LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
1. | General information
Shoryu World Limited ("The Company") operates a Japanese restaurant from its location in London, Stratford. The Company is a private company limited by shares incorporated in England and Wales. The address of the principal place of business is Unit FC2011 World Food Court First Floor Level, Westfield Stratford City, London E20 1EH. 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 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. The Company's functional and presentational currency is GBP. The following principal accounting policies have been applied:
| 2.2 | Going concern
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. The financial statements show a loss for the year after tax of £146,025 and net liabilities of £146,024. Included in creditors amounts falling due within one year is £300,207 due to fellow related companies. The related companies have provided assurance that it will not seek repayment of the amounts owed at least on or after 12 months from the audit report date or when the company is in a position to repay the liabilities as this is in the best interest of the group as a whole. In common with similar businesses in the hospitality sector, challenging trading environment presented by unforeseen post pandemic events such as the energy crisis, interest rate crisis, change in city working patterns, have significant impact on footfall and customer spend levels, which in turn has an impact on overall group results. Whilst it is difficult to predict the longevity and future such occurrences, the directors have implemented measures for the business to mitigate their impact, adopt and sustain profitability and growth in the medium to long term. The Company and Group have prepared cash flow forecasts until December 2026, under the current economic conditions and based on the key assumptions that the restaurant will remain open for the foreseeable future and general footfall is expected to increase. The forecasts incorporate profit improvement measures including controlling energy costs and securing favourable fixed prices, general cost efficiencies, and marketing campaigns to drive footfall. Page 2
SHORYU WORLD LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.2 | Going concern (continued)
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.
| 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. Revenue comprises both income arising from the sale of food and drink net of value added tax and income arising as a result of service charges relating to the sale of this food and drink. Revenue is recognised when food and drink is provided to the customer.
| 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.
| 2.5 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 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. Page 3
SHORYU WORLD LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.7 | Taxation
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.
| 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. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Long-term leasehold property | - | Over the remaining period of the lease
|  |  |  | Fixtures and fittings | - | 20% reducing balance
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 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.10 | 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. Page 4
SHORYU WORLD LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.11 | Financial instruments
The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares. (i) Financial assets Basic financial assets, including trade and other debtors, and amounts due from related companies, 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. 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 trade and other creditors and accruals, 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.
3. | Employees
| The average monthly number of employees, including directors, during the period was 15.
Page 5
SHORYU WORLD LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
4. | Tangible fixed assets
|  | Long-term leasehold property | Fixtures and fittings | Total
|  | £ | £ | £
| Cost |  |  |
| Additions | 117,839 | 25,746 | 143,585
| At 31 December 2024 | 117,839 | 25,746 | 143,585
| Depreciation |  |  |
| Charge for the period on owned assets | 11,427 | 2,105 | 13,532
| At 31 December 2024 | 11,427 | 2,105 | 13,532
| Net book value |  |  |
| At 31 December 2024 | 106,412 | 23,641 | 130,053
5. | Stocks
|  |  |  |  | 2024
|  |  |  |  | £
| Stocks | 5,004
| The carrying value of stocks are stated net of impairment losses. There were no impairments made to stock during the year. The difference between the purchase price of stocks and their replacement cost is not material.
Page 6
SHORYU WORLD LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
6. | Debtors
|  |  |  |  | 2024
|  |  |  |  | £
| Due after more than one year |
| Other debtors | 90,000
|  |  |  |  | 2024
|  |  |  |  | £
| Due within one year |
| Trade debtors | 11,088
| Amounts owed by group undertakings | 1
| Other debtors | 10,000
| Prepayments and accrued income | 61,618
|  | 82,707
| Amounts owed by group undertakings are interest free and repayable on demand.
7. | Cash and cash equivalents
|  |  |  |  | 2024
|  |  |  |  | £
| Cash at bank and in hand | 38,286
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024
|  |  |  |  | £
| Trade creditors | 36,484
| Amounts owed to group undertakings | 300,207
| Other taxation and social security | 53,747
| Other creditors | 1,300
| Accruals and deferred income | 48,606
|  | 440,344
| Amounts owed to group undertakings are interest free and repayable on demand.
Page 7
SHORYU WORLD LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024
|  |  |  |  | £
| Accruals and deferred income | 51,730
|  | 51,730
10. | Share capital
|  |  |  |  | 2024
|  |  |  |  | £
|  | Allotted, called up and fully paid |
|  | 1 Ordinary shares share of £1.00 | 1
| The Company was incorporated during the year. On incorporation, 1 ordinary share of £1 was issued at par, which was fully paid. The ordinary share carries equal rights to dividends, repayment of capital and one vote per share.
11. | Pension commitments
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totaling £1,300 were payable to the fund at the year end date.
12. | Related party transactions
| Where possible, the Company has taken advantage of the exemption conferred by FRS 102 section 33.1A from the requirement to disclose transactions with other wholly owned group undertakings.
13. | Controlling party
The Company's parent and ultimate parent is Shoryu Holdings Limited, Incorporated in England and Wales. The parent of the largest group in which these financial statements are consolidated is Shoryu Holdings Limited, incorporated in England and Wales and the consolidated financial statements can be available from Companies House using the parent's registration number 08251749. Page 8
SHORYU WORLD LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
14. | Auditors' information
The auditors' report on the financial statements for the period ended 31 December 2024 was unqualified.
| In their report, the auditors emphasised the following matter without qualifying their report: We draw attention to note 2.2 in the financial statements, which indicates that continuing losses may cast significant doubt on the Company's ability to continue as a going concern. 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.
The audit report was signed on 1 October 2025 by Catalina Feier FCA (Senior Statutory Auditor) on behalf of BKL Audit LLP.
Page 9