ACCOUNTS - Final Accounts preparation

Company registration number: 06511992

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	OZU LTD


OZU LTD

COMPANY INFORMATION

Directors	O O'Connor
	A L C M Powilewicz
	K Yokoyama
	D S Nugent
	I S-B Martinez
	K Okamoto


Registered number	06511992


Registered office	Riverside Buildings
	County Hall
	Westminster Bridge Road
	London
	SE1 7PB


Independent auditor	Menzies LLP
	Chartered Accountants & Statutory Auditor
	4th Floor
	95 Gresham Street
	London
	EC2V 7AB


OZU LTD

CONTENTS

	Page
Statement of Financial Position	1 - 2
Statement of Changes in Equity	3
Notes to the Financial Statements	4 - 11


OZU LTD REGISTERED NUMBER:06511992

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		280,926		249,013
Investments	5		7,383,599		6,861,240
Investment property	6		17,981,291		18,922,982
			25,645,816		26,033,235
Current assets
Debtors: amounts falling due after more than one year	7	2,186,959		2,212,117
Debtors: amounts falling due within one year	7	4,522,320		3,137,553
Cash at bank and in hand		1,283,662		2,122,184
		7,992,941		7,471,854
Creditors: amounts falling due within one year	8	(18,005,035)		(19,036,051)
Net current liabilities			(10,012,094)		(11,564,197)
Total assets less current liabilities			15,633,722		14,469,038
Creditors: amounts falling due after more than one year	9		(4,476,684)		(4,692,877)
Provisions for liabilities
Deferred tax	10	(1,189,481)		(1,433,596)
			(1,189,481)		(1,433,596)
Net assets			9,967,557		8,342,565

Capital and reserves
Called up share capital	11	1,000	1,000
Profit and loss account		9,966,557	8,341,565
		9,967,557	8,342,565

Page 1


OZU LTD REGISTERED NUMBER:06511992

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

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 income statement 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:

D S Nugent

Director

Date: 5 November 2025

The notes on pages 4 to 11 form part of these financial statements.

Page 2


OZU LTD

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023	1,000	5,287,883	5,288,883
Comprehensive income for the year
Profit for the year	-	3,053,682	3,053,682

At 1 January 2024	1,000	8,341,565	8,342,565
Comprehensive income for the year
Profit for the year	-	1,624,992	1,624,992
At 31 December 2024	1,000	9,966,557	9,967,557

The notes on pages 4 to 11 form part of these financial statements.

Page 3


OZU LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Ozu 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

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.

2.2

Preparation of consolidated financial statements

The financial statements contain information about Ozu Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

2.3

Related party exemption

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.

2.4

Going concern

The financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the reason that the Company is generating sufficient revenue, profits and cash to meet its commitments as they fall due.
As a result of the Company’s performance and financial position post year end, the directors do not consider there to be any material uncertainty relating to the Company’s ability to continue as a going concern and have prepared the financial statements on a going concern basis.

2.5

Foreign currency translation

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.

2.6

Revenue

Turnover represents rents receivable, excluding value added tax, trade discounts and all other taxes of sales made during the year.

Page 4


OZU LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.7

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the income statement on a straight-line basis over the period of the lease.

2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.9

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.

Depreciation is provided on the following basis:

Land and buildings

not depreciated

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.

2.10

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value are recognised in the income statement and fair value reserve.

Page 5


OZU LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.11

Valuation of investments

Investments in subsidiary undertakings are recognised at cost less impairment.

2.12

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 the income statement in the period to which they relate.

2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).

4.	Tangible fixed assets

	Long-term leasehold property	Plant and machinery	Total
	£	£	£
Cost or valuation
At 1 January 2024	249,013	-	249,013
Transfers intra group	-	92,660	92,660
At 31 December 2024	249,013	92,660	341,673
Depreciation
Charge for the year on owned assets	-	46,330	46,330
Transfers intra group	-	14,417	14,417
At 31 December 2024	-	60,747	60,747
Net book value
At 31 December 2024	249,013	31,913	280,926
At 31 December 2023	249,013	-	249,013

Page 6


OZU LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Fixed asset investments

		Investments in group undertakings
		£
	Cost or valuation
	At 1 January 2024	10,281,366
	Disposals	(22,637)
	At 31 December 2024	10,258,729
	Impairment
	At 1 January 2024	3,420,126
	Charge for the period	(544,996)
	At 31 December 2024	2,875,130
	Net book value
	At 31 December 2024	7,383,599
	At 31 December 2023	6,861,240

Page 7


OZU LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 January 2024	18,922,982
	Deficit on revaluation	(941,691)
	At 31 December 2024	17,981,291

Included within the Freehold investment property is land held in Kyoto, Japan, and an investment property held in Madrid, Spain.
The land in Japan was professionally valued on 11 October 2024 by Hitomi Construction Co., Ltd. on an assessed unit price basis. The directors confirm that the value of the land is in line with this valuation as at 31 December 2024.
The investment property in Spain was professionally valued on 8 November 2024 by ATValor S.A. on an assessed unit price basis. The directors confirm that the value of the investment property is in line with this valuation as at 31 December 2024.

Page 8


OZU LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

7.	Debtors
		2024	2023
		£	£

Due after more than one year
Amounts owed by connected companies	2,119,190	2,212,117
Other debtors	67,769	-
	2,186,959	2,212,117

					2024	2023
					£	£

Due within one year
Trade debtors	5,148	55,749
Amounts owed by group undertakings	3,270,195	2,095,468
Amounts owed by connected companies	465,344	431,171
Other debtors	90,997	-
Prepayments and accrued income	604,384	555,165
Tax recoverable	86,252	-
	4,522,320	3,137,553

8.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Other loans	11,487,234	12,487,234
Trade creditors	3,723	3,470
Amounts owed to group undertakings	191,529	220,838
Amounts owed to connected companies	4,371,608	4,371,608
Corporation tax	-	271,538
Other taxation and social security	154,057	179,248
Other creditors	152,230	149,281
Accruals and deferred income	1,644,654	1,352,834
	18,005,035	19,036,051

The amounts owed to connected companies are secured by fixed charge and legal mortgage on the Company's assets.

Page 9


OZU LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Amounts owed to connected companies	4,476,684	4,692,877
	4,476,684	4,692,877

10.	Deferred taxation

		2024
		£

	At beginning of year	(1,433,596)
	Charged to profit or loss	244,115
	At end of year	(1,189,481)

The provision for deferred taxation is made up as follows:
	2024	2023
	£	£

	Revaluation of investment properties	(1,189,481)	(1,433,596)
		(1,189,481)	(1,433,596)

11.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

1,000 (2023 - 1,000) Ordinary shares shares of £1.00 each	1,000	1,000

12.	Ultimate parent company

The ultimate parent company is Miso Investments Ltd, a company incorporated in England and Wales whose registered office is at Riverside Building, County Hall, Westminster Bridge Road, London, United Kingdom, SE1 7PB.

Page 10


OZU LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

13.	Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 5 November 2025 by Ralph Mitchison FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

Page 11