REGISTERED NUMBER: SC333445 (Scotland)

Financial Statements

for the Year Ended 31 December 2024

for

Torishima Europe Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G Ashe

P Cunningham

H Koichiro

SECRETARY:

G Ashe

REGISTERED OFFICE:

30 Colliery Road

Clyde Gateway Business Park

London Road

Glasgow

G32 8SL

REGISTERED NUMBER:

SC333445 (Scotland)

AUDITORS:

Key Professional Partnership Limited

Chartered Accountants

Statutory Auditors

Unit 3

37 Rosyth Road

Morris Park

Glasgow

G5 0YD

FIXED ASSETS

Tangible assets

4

63,694

78,243

CURRENT ASSETS

Debtors

5

219,767

236,036

Cash at bank and in hand

179,597

147,059

399,364

383,095

CREDITORS

Amounts falling due within one year

6

185,652

139,332

NET CURRENT ASSETS

213,712

243,763

TOTAL ASSETS LESS CURRENT LIABILITIES

277,406

322,006

CAPITAL AND RESERVES

Called up share capital

8

10,000

10,000

Retained earnings

9

267,406

312,006

SHAREHOLDERS' FUNDS

277,406

322,006

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 8 October 2025 and were signed on its behalf by:

P Cunningham - Director

1.	STATUTORY INFORMATION

Torishima Europe Limited is a private company, limited by shares , registered in Scotland. 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter.

Building renovations - Over 20 years

Fixtures and fittings - 20% on cost

Motor vehicles - 33.33% on cost

Office Equipment - 33.33% on cost

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Building

and

Motor

Office

renovations

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

81,916

1,175

18,988

46,851

148,930

Disposals

-

-

(18,988

)

(6,200

)

(25,188

)

At 31 December 2024

81,916

1,175

-

40,651

123,742

DEPRECIATION

At 1 January 2024

16,686

760

9,747

43,494

70,687

Charge for year

3,036

240

2,052

2,027

7,355

Eliminated on disposal

-

-

(11,799

)

(6,195

)

(17,994

)

At 31 December 2024

19,722

1,000

-

39,326

60,048

NET BOOK VALUE

At 31 December 2024

62,194

175

-

1,325

63,694

At 31 December 2023

65,230

415

9,241

3,357

78,243

5.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Trade debtors

146,866

125,637

Torishima Europe - Spain

-

10,145

THQ Inter Co

585

-

Tax

6,850

-

VAT

2,904

-

Prepayments

62,562

47,726

219,767

183,508

Amounts falling due after more than one year:

Other debtors

-

52,528

Aggregate amounts

219,767

236,036

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts (see note 7)

-

12,788

Trade creditors

39,018

33,576

Tax

-

6,851

Social security and other taxes

26,026

24,400

VAT

-

2,283

Other creditors

115,823

59,434

Credit Card

4,785

-

185,652

139,332

7.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

-

12,788

Non-cancellable

operating leases

31.12.24

31.12.23

£

£

Within one year

41,837

35,832

Between one and five years

24,050

55,110

65,887

90,942

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

10,000

Ordinary

£1

10,000

10,000

9.

RESERVES

Retained

earnings

£

At 1 January 2024

312,006

Deficit for the year

(44,600

)

At 31 December 2024

267,406

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

The Report of the Auditors was unqualified.

Stephen Alexander Usher (Senior Statutory Auditor)

for and on behalf of Key Professional Partnership Limited

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year under review, the company had the following transactions at normal commercial terms with Torishima Service Solutions Europe Ltd, another subsidiary of Torishima Mfg Japan.

Sales: £69,698

Purchases: £84,439

The parent company is the ultimate parent company and controlling party is Torishima Pump Mfg. Co. Japan, this entity prepares consolidated accounts in Japan. Kotaro Harada is the ultimate controlling party by virtue of his controlling interest in Torishima Pump Mfg. Co. Japan.