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Registered number: 12882953 WATANABE CO LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
WATANABE CO LTD Company Information
Director | K Watanabe
Registered number | 12882953
Registered office | Unit 12
| The Ivories
| 6-18 Northampton Street
| London
| N1 2HY
WATANABE CO LTD Registered number: 12882953 Balance sheet As at 30 September 2025
|  | 2025 |  | Restated - 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | - |  | 10,180
Tangible assets | 5 |  | 1,591 |  | 2,750
|  |  | 1,591 |  | 12,930
Current assets |  |  |  |  |
Stocks | 6 | 64,593 |  | 77,735 |
Debtors: amounts falling due within one year | 7 | 126,003 |  | 110,965 |
Cash at bank and in hand |  | 84,846 |  | 97,986 |
|  | 275,442 |  | 286,686 |
Creditors: amounts falling due within one year | 8 | (168,901) |  | (150,290) |
Net current assets |  |  | 106,541 |  | 136,396
Total assets less current liabilities |  |  | 108,132 |  | 149,326
Creditors: amounts falling due after more than one year |  |  | (116,503) |  | (144,028)
Net (liabilities)/assets |  |  | (8,371) |  | 5,298
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 20 |  | 20
Profit and loss account |  |  | (8,391) |  | 5,278
|  |  | (8,371) |  | 5,298
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WATANABE CO LTD Registered number: 12882953 Balance sheet (continued) As at 30 September 2025 The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. 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 comprehensive income 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 on 3 March 2026.
K Watanabe
Director
The notes on pages 3 to 10 form part of these financial statements. Page 2
WATANABE CO LTD Notes to the financial statements For the Year Ended 30 September 2025
1. | General information
Watanabe Co Ltd is a private company limited by share capital, incorporated in the United Kingdom and registered in England and Wales, registration number 12882951. The address of the registered office is Unit 12, The Ivories, 6-18 Northampton Road, London, England, N1 2HY. The principal activity of the company is that of the sale of wholesale clothing and footwear. 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and 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 following principal accounting policies have been applied:
| 2.2 | Going concern
The financial statements have been prepared under the going concern basis, as it is the intention of the parent company to provide whatever financial support is necessary in order for the Company to continue to meet its liabilities as they fall due for the foreseeable future.
| 2.3 | 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. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 3
WATANABE CO LTD Notes to the financial statements For the Year Ended 30 September 2025 2.Accounting policies (continued)
| 2.4 | Turnover
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. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.5 | Operating leases
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, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.6 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.7 | 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.
| 2.8 | 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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 4
WATANABE CO LTD Notes to the financial statements For the Year Ended 30 September 2025 2.Accounting policies (continued)
| 2.9 | 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 balance sheet 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 balance sheet 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 balance sheet date.
| 2.10 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. Page 5
WATANABE CO LTD Notes to the financial statements For the Year Ended 30 September 2025 2.Accounting policies (continued)
| 2.11 | 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, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Office equipment | - | 20% straight line
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.
| 2.12 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. At each balance sheet 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.
| 2.13 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.14 | 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.
| 2.15 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 6
WATANABE CO LTD Notes to the financial statements For the Year Ended 30 September 2025 2.Accounting policies (continued)
| 2.16 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
3. | Employees
| The average monthly number of employees, including directors, during the year was 4 (2024 - 5).
Page 7
WATANABE CO LTD Notes to the financial statements For the Year Ended 30 September 2025
4. | Intangible assets
|  | Intellectual property
|  | £
| Cost |
| At 1 October 2024 | 50,918
| At 30 September 2025 | 50,918
| Amortisation |
| At 1 October 2024 | 40,735
| Charge for the year on owned assets | 10,183
| At 30 September 2025 | 50,918
| Net book value |
| At 30 September 2025 | -
| At 30 September 2024 | 10,183
Page 8
WATANABE CO LTD Notes to the financial statements For the Year Ended 30 September 2025
5. | Tangible fixed assets
|  | Office equipment
|  | £
| Cost or valuation |
| At 1 October 2024 | 9,669
| Additions | 970
| At 30 September 2025 | 10,639
| Depreciation |
| At 1 October 2024 | 6,919
| Charge for the year on owned assets | 2,129
| At 30 September 2025 | 9,048
| Net book value |
| At 30 September 2025 | 1,591
| At 30 September 2024 | 2,750
6. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Finished goods and goods for resale | 64,593 | 77,735
|  | 64,593 | 77,735
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 120,979 | 96,322
| Prepayments and accrued income | 5,024 | 11,658
| Tax recoverable | - | 2,985
|  | 126,003 | 110,965
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WATANABE CO LTD Notes to the financial statements For the Year Ended 30 September 2025
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | Restated - 2024
|  |  |  |  | £ | £
| Trade creditors | 96,704 | 101,656
| Other taxation and social security | 13,461 | 15,402
| Other creditors | 49,595 | 28,832
| Accruals and deferred income | 9,141 | 4,400
|  | 168,901 | 150,290
9. | Commitments under operating leases
As at 30 September 2025 the Company has future minimum lease payments under non-cancellable operating leases amounting to £121,907 (2024: £20,300).
10. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | Restated - 2024
|  |  |  |  | £ | £
| Other creditors | 116,503 | 144,028
|  | 116,503 | 144,028
11. | Related party transactions
| As at 30 September 2025 the company owed the Director £22,000 (2024: £22,000). This amount is interest free and repayable on demand. As at 30 September 2025 the company also owed £99,999 to a company of which the director is also a director and minority shareholder (2024: £100,860). This amount is interest free and repayable on demand.
12. | Comparative figures
Certain comparatives in the 2024 Notes to the Financial Statements have been restated to conform with the 2025 presentation. There is no effect on the profit for the financial year in either period.
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