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Company registration number:
31 DECEMBER 2025
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FUTAMURA CHEMICAL UK LIMITED
COMPANY INFORMATION
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FUTAMURA CHEMICAL UK LIMITED
CONTENTS
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FUTAMURA CHEMICAL UK LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Directors present their strategic report and the financial statements for the year ended 31 December 2025.
The principal activities of the company (Futamura Chemical UK Limited) were the manufacture and sale of cellulose packaging films. These activities are carried out from its site at Wigton, Cumbria in the United Kingdom.
Futamura Group is the global leader for renewable and compostable packaging films (NatureFlex™ and Cellophane™) and cellulose casings, the cellophane business operates across three production centres in Japan, United States of America, and the United Kingdom and 13 regional commercial offices servicing customers in more than 100 countries around the world with 37,000 tonnes. Worldwide the group employs over 1,900 people.
Through our long-term objectives of growth and stability Futamura is dedicated to providing high quality speciality products that enhance the lives of the people who use them. Our commitment to safety, R&D and customer service has led to ethical and sustainable partnerships ranging from niche speciality producers through to the world’s largest brand owners.
The management of the business and the execution of the company’s strategy are subject to a number of risks. The main risks and uncertainties are as follows:
Financial risk The company's operations expose it to a variety of financial risks that include the effects of changes in price, foreign currency risk, credit risk, and liquidity. The company has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the company where appropriate. Price risk The company is exposed to commodity raw material and energy price risk as a result of its operations. However, given the size of the company's operations, the costs of managing exposure to commodity price risk exceed any potential benefits. The company has the ability to pass on higher input prices to its customers, but this ability is subject to current regional and specific market conditions. The directors will revisit the appropriateness of this policy should the company's operations change in size or nature. The company has no exposure to equity securities price risk as it holds no listed or other equity investments. Foreign Currency risk The company’s operations are conducted in a range of different currencies and changes in exchange rates can impact financial results. The company sells the majority of its products in EUR, and pays for the majority of its services, utilities and manpower costs in GBP. The company manages this risk through Fair Value and Cash Flow Hedging.
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FUTAMURA CHEMICAL UK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Credit risk
The company has implemented policies that require appropriate credit checks on potential customers before sales are made. External credit risk agency information is purchased to supplement financial information obtained from potential customers. Futamura does not purchase credit insurance. Debtors, in particular those which are overdue, are carefully monitored and provision made where felt necessary. These assessments are inherently judgemental, but they are made based on the facts and circumstances prevailing at the time of the finalisation of the year-end accounts. Liquidity risk Cash flow is monitored daily and projected forward over a minimum of a three-month period monthly, longer range forecasts are completed at least twice per annum. This is reviewed both by the senior management team and the parent undertaking and where appropriate mitigating actions are taken to ensure that there are no issues.
In conjunction with the management of costs and working capital to improve profit, the company uses several KPIs to monitor performance. These financial KPIs are monitored for the company, compared to budget.
The company uses a number of non-financial KPIs to monitor the performance of the business.
2025 2024 Safety: - RIDDOR Recordable accidents 6 3 - Lost time cases 8 5 Environment: - Reportable incidents 3 0
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FUTAMURA CHEMICAL UK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Futamura stands on a principal that we exist to enhance the lives of its customers and the people who work for us, rather than a company that exists for and belongs to shareholders. Hence, the corporate culture is to pursue the long-term stability of the company.
We consider our key stakeholders to be our Customers, Suppliers, our Employees and the wider surrounding community. We have worked closely with both Customers and Suppliers to ensure we carefully manage the transition to more environmentally sustainable products avoiding waste in the supply chain. We recognise that ultimately victory goes to those who conduct themselves with honesty and integrity in all aspects of their business practices. We continue to work with, and research into new technologies that enhance the functionality, performance and quality of the products we make. Our directors report also includes disclosures on Employee Involvement, Environment, Future Developments, Research and Development.
This report was approved by the board and signed on its behalf.
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FUTAMURA CHEMICAL UK LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The loss for the year, after taxation, amounted to £9,337k (2024 - loss £3,312k).
The directors do not recommend payment of a dividend.
The directors who served during the year were:
What differentiates Futamura Chemical from others is that we stand on a principle that the company exists to ensure daily lives of people who work here, rather than one that exists for and belongs to shareholders. Hence there is a corporate culture at Futamura Chemical to pursue the stability of the company from a long-term perspective rather than to run after short term profits and nominal sales.
Recognising People as one of our three pillars of sustainability, our employees are kept informed on a wide range of matters (e.g. H&S, Quality, Commercial, Financial, Research & Development, and Production performance). The company has a bonus arrangement in place to incentivise its employees in achieving a suite of performance targets.
Futamura is committed to attaining the highest possible standards of Health and Safety. Futamura will endeavour to protect the health, safety, and welfare of all our employees, contractors, visitors, and members of the public. Futamura recognises, understands, and accepts its moral and legal obligations and is committed to achieving legal compliance for Health and Safety and continually improving to ensure we maintain a safe working environment.
In conjunction with our commitment to the development and manufacture of renewable and compostable packaging materials Futamura is committed to conduct its business in a manner which will protect the environment, in accordance with all legal requirements and sound environmental management practices. The company has practices in place for the continual review and improvement of its operations to reduce their environmental impact and use of resources.
At Futamura we are proud of our rich heritage in cellulosics, which has positioned us as the world’s leading manufacturer of sustainable cellulose films. Our range of NatureFlex™ films are the next generation of packaging films, made from responsibly sourced wood pulp as well as being certified industrial and home compostable.
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FUTAMURA CHEMICAL UK LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company invests in key strategic research into both emerging and existing technologies to ensure we remain at the cutting edge of both cellulosic technologies and composable films. At Futamura we leverage our Global footprint to build close relationships with specialist scientific research institutions allowing us to access modern scientific analytical techniques in the Viscose process to ensure we maximise our efficiency as well as identify and develop alternative raw materials and products.
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FUTAMURA CHEMICAL UK LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Risk management
Details on risk management are included within the Strategic Report. Post balance sheet events There have been no significant events specific to the Company since the year end, the provisional approval of the IETF grant provides optimism that we can realise a project that is both environmentally beneficial by processing waste gases rather than emitting, and by significantly reducing our energy consumption whilst becoming the only plant in the UK to produce Sulphuric Acid to both use on site and sell to the market.
Under section 487(2) of the Companies Act 2006, Armstrong Watson Audit Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board and signed on its behalf.
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FUTAMURA CHEMICAL UK LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors are responsible for preparing the Strategic report, the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙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 to 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.
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FUTAMURA CHEMICAL UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FUTAMURA CHEMICAL UK LIMITED
We have audited the financial statements of Futamura Chemical UK Limited (the 'Company') for the year ended 31 December 2025, which comprise the Income statement, the Statement of comprehensive income, the Statement of financial position, the Statement of cash flows, the Statement of changes in equity and the related notes, 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 Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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.
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 Company'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.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.
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FUTAMURA CHEMICAL UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FUTAMURA CHEMICAL UK LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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 judgments and estimates that are reasonable and prudent; • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 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.
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FUTAMURA CHEMICAL UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FUTAMURA CHEMICAL UK LIMITED (CONTINUED)
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 Auditors' 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 obtained an understanding of laws and regulations that affect the company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and regulations that we identified included the UK Companies Act, tax legislation and occupational health and employment legislation.
∙We enquired of the directors, reviewed correspondence with HMRC and reviewed directors meeting minutes for evidence of non-compliance with relevant laws and regulations. We also reviewed controls the directors have in place to ensure compliance.
∙We gained an understanding of the controls that the directors have in place to prevent and detect fraud. We enquired of the directors about any incidences of fraud that had taken place during the accounting period.
∙The risk of fraud and non-compliance with laws and regulations and fraud was discussed within the audit team and tests were planned and performed to address these risks. We identified the potential for fraud in the following areas: revenue recognition and management override of controls.
∙We reviewed financial statements disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above.
∙We enquired of the directors and third-party advisors about actual and potential litigation and claims.
∙We performed analytical procedures to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud.
∙In addressing the risk of fraud due to management override of internal controls we tested the appropriateness of journal entries and assessed whether the judgements made in making accounting estimates were indicative of a potential bias.
Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.
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 Auditors' report.
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FUTAMURA CHEMICAL UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FUTAMURA CHEMICAL UK LIMITED (CONTINUED)
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 Auditors' 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.
for and on behalf of
Chartered Accountants and Statutory Auditors
Carlisle
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FUTAMURA CHEMICAL UK LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
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FUTAMURA CHEMICAL UK LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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FUTAMURA CHEMICAL UK LIMITED
REGISTERED NUMBER: 10042418
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 18 to 37 form part of these financial statements.
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FUTAMURA CHEMICAL UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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FUTAMURA CHEMICAL UK LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
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FUTAMURA CHEMICAL UK LIMITED
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2025
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Futamura Chemical UK Limited is a private limited company, limited by shares, incorporated and domiciled in England and Wales.
The registered office of the company is Station Road, Wigton, Cumbria, CA7 9BG. The principal activity of the company is manufacture of cellulose films. The principal accounting policies adopted by the company are set out in note 2.
2.Accounting policies
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 Companies Act 2006.
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 (see note 3).
The financial statements have been prepared on a going concern basis. The directors have considered the company’s ability to continue as a going concern and, in making this assessment, have prepared cash flow forecasts and sensitivity analyses covering a period of at least twelve months from the date of approval of these financial statements.
For the financial year ended 31 December 2025, the company generated negative EBITDA of £3.8m, reflecting a decrease from the financial year ended 31 December 2024. At the balance sheet date, the company had net current assets of £17.6m, net assets of £30.5m and cash of £8.3m. The company reported a net loss after tax of £9.4m, which reflects the current difficult trading conditions across Europe. Despite the loss reported for the year, the company maintains sufficient liquidity to meet its short-term obligations, supported by a committed revolving credit facility and ongoing operating cash flows. The directors’ forecasts indicate that the company will require continued financial support from the wider group in order to meet its liabilities as they fall due. The company has the full backing of the wider group, which has indicated its intention to continue to support the company through a combination of debt funding and additional equity as required. Having considered the forecasts, available facilities and the ongoing support from the wider group, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Defined benefit pension plan
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The company follows a policy of supporting a level of development activities commensurate with the current and future requirements of the business. Expenditure on research and development is charged against the results for the period in which it is incurred, unless it is certain that future economic benefit will flow from the development at which time it will be recognised as an intangible asset and amortised over its estimated useful life.
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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:
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.
Assets under construction are not depreciated until they are fully commissioned and operational.
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The company uses forward currency exchange contracts to reduce exposure to foreign exchange rates. Derivative financial instruments are initially measured at fair value on the date on which a derivative contract is entered into and are subsequently measured at fair value through the income statement or other comprehensive income. Derivatives are carried as assets when their fair value is positive and as liabilities when the fair value is negative. The fair value of forward exchange contracts is calculated by reference to current forward exchange contracts with similar maturity profiles.
Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below: (a) Establishing useful economic lives for depreciation purposes of tangible fixed assets Long-lived assets, consisting primarily of tangible fixed assets, comprise a significant portion of the total fixed assets. The annual depreciation charge depends primarily on the estimated useful economic lives of each type of asset and estimates of residual values. The directors regularly review these assets' useful economic lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in asset useful lives can have a significant impact on depreciation charges for the period. Details of the depreciation policies based on estimated useful economic lives are included in accounting policies note 2.10.
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
3.Judgments in applying accounting policies (continued)
The Company holds finished goods for sale. Stocks are held at the lower of cost and net realisable value. The assessment of net realisable value requires estimation regarding the future sale proceeds less the costs incurred to sell. The Company uses estimations based on historical experience and expectation of market conditions in determining net realisable value. The Company recognises the risk of stock obsolescence and the related potential impact on stock carrying values. Stocks are assessed at each reporting date for impairment and estimates based on a review of sale activity in the period are used in determining the level of stock provision provided. (c) Pension liabilities The present value of the defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions, including discount rates. Any changes in these assumptions will impact the carrying amount of the pension liability.
The whole of the turnover is attributable to the manufacture of cellulose films.
Analysis of turnover by country of destination:
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
12.Taxation (continued)
The company is carrying forward unrelieved tax losses of £39,345k (2024: £27,664k).
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 31
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 32
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
During the current accounting year, the company issued 1,000,000 ordinary share capital to existing shareholders at a value of £10 per share with £1 being the nominal value and £9 premium per share.
Share premium account
Profit and loss account
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £823k (2024 - £711k). Contributions totalling £165k (2024 - £148k) were payable to the fund at the reporting date.
The Company operates a Defined benefit pension scheme.
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
24.Pension commitments (continued)
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
24.Pension commitments (continued)
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Futamura Chemical Co. Ltd is the parent company. All other entities with which there have been related party relationships are fellow subsidiaries in the group.
Goods and services are purchased from, and goods are sold to related parties on normal commercial terms and conditions.
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FUTAMURA CHEMICAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
26.Related party transactions (continued)
The debtors from and creditors to related parties arise mainly from sale and purchase transactions. These transactions bear no interest as they are on normal commercial payment terms, except the loan due to Futamura Chemical Co. Ltd where interest is charged at the market rate.
Mizuho Bank, Ltd., a minority shareholder in the ultimate parent company, provide banking and other financial services to the company. These services are all provided on normal commercial terms.
The company's ultimate parent undertaking and controlling party is
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