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Company No: 02493887 (England and Wales)

# TAKASAGO (UK) LIMITED

### Annual Report and Financial Statements
For the financial year ended 31 December 2025

TAKASAGO (UK) LIMITED

## Annual Report and Financial Statements

For the financial year ended 31 December 2025

Contents

TAKASAGO (UK) LIMITED

## COMPANY INFORMATION

For the financial year ended 31 December 2025
TAKASAGO (UK) LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 December 2025

DIRECTORS | P Dalle-Molle (Resigned 04 April 2025)
| Y Kobayashi
| S Yamanaka (Appointed 01 September 2025)

REGISTERED OFFICE | First Floor Scammell House
| 9 High Street
| Ascot
| SL5 7JF
| United Kingdom

COMPANY NUMBER | 02493887 (England and Wales)

AUDITOR | Dixon Wilson Audit Services LLP
| Statutory Auditor
| 22 Chancery Lane
| London
| WC2A 1LS

BANKERS | National Westminster Bank Plc
| 12 High Street
| Windsor
| Berkshire
| SL4 1NQ

SOLICITORS | Gregory Rowcliffe & Milners
| 1 Bedford Row
| London
| WC1R 4BZ

TAKASAGO (UK) LIMITED

## DIRECTORS' REPORT

For the financial year ended 31 December 2025
TAKASAGO (UK) LIMITED

## DIRECTORS' REPORT (continued)

For the financial year ended 31 December 2025

The directors present their report and the financial statements for the year ended 31 December 2025.

DIRECTORS

The directors, who served during the financial year and to the date of this report except as noted, were as follows:

P Dalle-Molle | (Resigned 04 April 2025)
Y Kobayashi |
S Yamanaka | (Appointed 01 September 2025)

AUDITOR

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

**Small companies provision statement**

This Directors' Report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption provided by section 415A of the Companies Act 2006.

Approved by the Board of Directors and signed on its behalf by:

Y Kobayashi Director |

09 February 2026

TAKASAGO (UK) LIMITED

## DIRECTORS' RESPONSIBILITIES STATEMENT

For the financial year ended 31 December 2025
TAKASAGO (UK) LIMITED

## DIRECTORS' RESPONSIBILITIES STATEMENT (continued)

For the financial year ended 31 December 2025

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

* Select suitable accounting policies and then apply them consistently;
* Make judgements and accounting estimates that are reasonable and prudent; and
* Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

## INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TAKASAGO (UK) LIMITED

## INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TAKASAGO (UK) LIMITED (continued)

Opinion on the financial statements of Takasago (UK) Limited (the ‘company’)
We have audited the financial statements of Takasago (UK) Limited (the 'company') for the year ended 31 December 2025, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
* Give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;
* Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
* Have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
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.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Takasago (UK) Limited’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.

Report on other legal and regulatory requirements

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
* The information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
* The Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
* Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
* The financial statements are not in agreement with the accounting records and returns; or
* Certain disclosures of directors’ remuneration specified by law are not made; or
* We have not received all the information and explanations we require for our audit; or
* The directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the company by considering, amongst other things, the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the assessed level of risk, but recognised that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the UK Company Law and UK tax legislation.
Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of third parties.
As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by management that represented a risk of material misstatement due to fraud.
There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Steven Wakefield (Senior Statutory Auditor)
For and on behalf of Dixon Wilson Audit Services LLP
Statutory Auditor

22 Chancery Lane
London
WC2A 1LS

10 February 2026

TAKASAGO (UK) LIMITED

## PROFIT AND LOSS ACCOUNT

For the financial year ended 31 December 2025
TAKASAGO (UK) LIMITED

## PROFIT AND LOSS ACCOUNT (continued)

For the financial year ended 31 December 2025

|  | 2025 |  | 2024
|  | £ |  | £
Turnover |  | 2,275,129 |  | 2,138,338
Administrative expenses |  | ( 2,165,596) |  | ( 2,036,516)
Other operating loss |  | 0 |  | ( 834)
Operating profit |  | 109,533 |  | 100,988
Interest receivable and similar income |  | 4 |  | 6
Interest payable and similar expenses |  | ( 1,864) |  | 0
Profit before taxation |  | 107,673 |  | 100,994
Tax on profit |  | ( 28,356) |  | ( 27,025)
Profit for the financial year |  | 79,317 |  | 73,969

TAKASAGO (UK) LIMITED

## BALANCE SHEET

As at 31 December 2025
TAKASAGO (UK) LIMITED

## BALANCE SHEET (continued)

As at 31 December 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 11,711 |  | 9,723
|  | 11,711 |  | 9,723
Current assets |  |  |  |
Debtors |  |  |  |
- due within one year | 4 | 562,837 |  | 604,705
- due after more than one year | 4 | 45,356 |  | 13,664
Cash at bank and in hand |  | 156,999 |  | 66,020
|  | 765,192 |  | 684,389
Creditors: amounts falling due within one year | 5 | ( 464,236) |  | ( 515,759)
Net current assets |  | 300,956 |  | 168,630
Total assets less current liabilities |  | 312,667 |  | 178,353
Creditors: amounts falling due after more than one year | 6 | ( 190,997) |  | ( 62,149)
Provision for liabilities |  | 0 |  | 149
Net assets |  | 121,670 |  | 116,353
Capital and reserves |  |  |  |
Called-up share capital |  | 40,000 |  | 40,000
Profit and loss account |  | 81,670 |  | 76,353
Total shareholders' funds |  | 121,670 |  | 116,353

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

The financial statements of Takasago (UK) Limited (registered number: 02493887) were approved and authorised for issue by the Board of Directors on 09 February 2026. They were signed on its behalf by:

Y Kobayashi Director |

TAKASAGO (UK) LIMITED

## STATEMENT OF CHANGES IN EQUITY

For the financial year ended 31 December 2025
TAKASAGO (UK) LIMITED

## STATEMENT OF CHANGES IN EQUITY (continued)

For the financial year ended 31 December 2025

| Called-up share capital |  | Profit and loss account |  | Total
| £ |  | £ |  | £
At 01 January 2024 | 40,000 |  | 67,384 |  | 107,384
Profit for the financial year | 0 |  | 73,969 |  | 73,969
Total comprehensive income | 0 |  | 73,969 |  | 73,969
Dividends paid on equity shares | 0 |  | ( 65,000) |  | ( 65,000)
At 31 December 2024 | 40,000 |  | 76,353 |  | 116,353
At 01 January 2025 | 40,000 |  | 76,353 |  | 116,353
Profit for the financial year | 0 |  | 79,317 |  | 79,317
Total comprehensive income | 0 |  | 79,317 |  | 79,317
Dividends paid on equity shares | 0 |  | ( 74,000) |  | ( 74,000)
At 31 December 2025 | 40,000 |  | 81,670 |  | 121,670

TAKASAGO (UK) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025
TAKASAGO (UK) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Takasago (UK) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.
The address of the Company's registered office is
First Floor
Scammell House
9 High Street
Ascot
Berkshire
SL5 7JF
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
The financial statements have been prepared under the historical cost convention.
The presentational currency is sterling (£) and amounts are rounded to the nearest pound.

##### Going concern

The financial statements have been prepared on a going concern basis.
The company's only source of income is from its parent company and is therefore wholly reliant on the continuing support of its parent company to continue as a going concern. Its parent company has indicated that it will continue to do business with and provide financial support for the foreseeable future and there are no indications that they will be unable to do so.

##### Turnover

Turnover represents amounts invoiced, excluding value added tax, in respect of the sale of services to the parent company. Turnover is calculated as a mark up on cost, and is recognised in line with accrued expenses.

##### Taxation

The tax expense for the period comprises current tax and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current 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 taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by their reporting date.

##### Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
**Depreciation**

Office equipment | 4 years straight line

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as above.

##### Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

##### Share capital

Ordinary shares are classified as equity.

##### Dividends

Dividend distributions to the company's shareholder is recognised in the financial statements in the reporting period in which interim dividends are paid and final dividends are approved by the members.

##### Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

##### Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors: | 8 |  | 6

#### 3. Tangible assets

| Office equipment |  | Total
| £ |  | £
Cost |  |  |
At 01 January 2025 | 58,577 |  | 58,577
Additions | 4,918 |  | 4,918
At 31 December 2025 | 63,495 |  | 63,495
Accumulated depreciation |  |  |
At 01 January 2025 | 48,854 |  | 48,854
Charge for the financial year | 2,930 |  | 2,930
At 31 December 2025 | 51,784 |  | 51,784
Net book value |  |  |
At 31 December 2025 | 11,711 |  | 11,711
At 31 December 2024 | 9,723 |  | 9,723

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Debtors: amounts falling due within one year |  |  |
Amounts owed by group undertakings | 535,872 |  | 583,883
Other debtors | 26,965 |  | 20,822
| 562,837 |  | 604,705
Debtors: amounts falling due after more than one year |  |  |
Deferred tax asset | 45,356 |  | 13,664

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Taxation and social security | 141,640 |  | 125,076
Other creditors | 322,596 |  | 390,683
| 464,236 |  | 515,759

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Other creditors | 190,997 |  | 62,149

There are no amounts included above in respect of which any security has been given by the small entity.

#### 7. Financial commitments

The total amount of financial commitments not included in the balance sheet is £53,106 (2024 - £96,867). Financial commitments not included in the balance sheet relate solely to operating leases.

#### 8. Ultimate controlling party

Parent Company:

Takasago Europe Perfumery Laboratory SARL, incorporated in France.

The ultimate parent company and controlling party is Takasago International Corporation, incorporated in Japan.
The most senior parent entity producing publicly available financial statements is Takasago International Corporation. These financial statements are available upon request from Nissay Aroma Square, 17th Floor, 37-1 Kamata 5-Chome, Ohta-Ku, Tokyo, Japan.

TAKASAGO (UK) LIMITED

## DETAILED PROFIT AND LOSS ACCOUNT

For the financial year ended 31 December 2025
TAKASAGO (UK) LIMITED

## DETAILED PROFIT AND LOSS ACCOUNT (continued)

For the financial year ended 31 December 2025

| 2025 |  | 2024
| £ |  | £
Turnover |  |  |
European sales | 2,273,872 |  | 2,138,338
Rest of world sales | 1,257 |  | 0
| 2,275,129 |  | 2,138,338
Administrative expenses |  |  |
Wages and salaries | ( 1,454,672) |  | ( 1,402,623)
Employers NI | ( 208,508) |  | ( 190,440)
Pensions | ( 99,236) |  | ( 85,562)
Staff training and welfare | ( 14,652) |  | ( 14,176)
Travel and subsistence | ( 208,420) |  | ( 171,339)
General office | ( 1,326) |  | ( 1,331)
Rent | ( 32,868) |  | ( 28,760)
Rates | ( 5,421) |  | ( 19,063)
Internet, telephone and fax | ( 12,907) |  | ( 12,120)
Printing, postage and stationery | ( 8,200) |  | ( 6,824)
Bank charges | ( 1,214) |  | ( 1,165)
Subscriptions | ( 1,332) |  | ( 2,021)
Insurance | ( 21,169) |  | ( 19,491)
Depreciation | ( 2,930) |  | ( 2,698)
Repairs and maintenance | ( 4,842) |  | ( 1,964)
Operating lease rentals | ( 34,187) |  | ( 32,929)
Donations | ( 200) |  | ( 200)
Audit fees | ( 8,950) |  | ( 8,700)
Accountancy fees | ( 13,629) |  | ( 13,076)
Legal and professional fees | ( 2,832) |  | ( 3,737)
Advertising and PR | ( 3,987) |  | ( 4,034)
Staff entertainment | ( 8,108) |  | ( 6,235)
Client entertainment | ( 3,434) |  | ( 5,465)
General | ( 12,572) |  | ( 2,563)
| (2,165,596) |  | (2,036,516)
Other operating loss |  |  |
Loss on disposal of fixed assets | 0 |  | ( 834)
Operating profit | 109,533 |  | 100,988
Interest receivable and similar income |  |  |
Bank interest receivable | 2 |  | 3
Other loans interest receivable | 2 |  | 3
| 4 |  | 6
Interest payable and similar expenses |  |  |
Other interest payable | ( 1,864) |  | 0
Profit before taxation | 107,673 |  | 100,994