Pesca Rich Europe Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—6

1. General Information

Pesca Rich Europe Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04298366 . The registered office is Unit 5, 18 Mereway Road, Twickenham, Middlesex, TW2 6RG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have, at the time of approving the financial statements, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis. In making this assessment, the directors have considered the company’s financial position, its cash flow forecasts, and any potential uncertainties that may impact its operations. Based on this review, the directors are satisfied that there are no material uncertainties that cast significant doubt on the company’s ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents to revenue earned from the sale of goods to customers during the period, and is recognised when the goods are when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures, fittings & equipment 25% on reducing balance, 10% on cost and 6.67% on cost

Motor vehicles 20% on reducing balance

Computer equipment 33% on cost

Improvements to property Over the lease term

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Pesca Rich Europe Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.7. Financial Instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Debtors and creditors that fall due within one year are recorded in the financial statements at transaction price and then subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded within profit or loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt. Debtors do not carry interest and are stated at their nominal value.Trade creditors are not interest-bearing and are stated at their nominal value. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.

2.8. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.9. Taxation

Taxation for the year represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.10. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.11. Presentation Currency

The financial statements are presented in pounds sterling (£), which is the company’s functional and presentation currency.

2.12. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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Pesca Rich Europe Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2024: 5)

4. Tangible Assets

	Land & Property
	Leasehold improvements	Motor vehicles	Fixtures, fittings & equipment	Computer equipment	Total
	£	£	£	£	£
Cost
As at 1 January 2025	48,583	41,369	298,462	23,044	411,458
Additions	-	-	123,269	-	123,269

As at 31 December 2025	48,583	41,369	421,731	23,044	534,727

Depreciation
As at 1 January 2025	48,583	34,139	195,031	21,794	299,547
Provided during the period	-	1,446	17,342	797	19,585

As at 31 December 2025	48,583	35,585	212,373	22,591	319,132

Net Book Value
As at 31 December 2025	-	5,784	209,358	453	215,595

As at 1 January 2025	-	7,230	103,431	1,250	111,911

5. Investments

	Subsidiaries
	£
Cost or Valuation
As at 1 January 2025	22,238

As at 31 December 2025	22,238

Provision
As at 1 January 2025	-

As at 31 December 2025	-

Net Book Value
As at 31 December 2025	22,238

As at 1 January 2025	22,238

The company holds 100% of the ordinary share capital of Pesca Rich Europe GmbH, a company incorporated in Germany. Pesca Rich Europe GmbH's business is that of food wholesale.

6. Stocks

	2025	2024
	£	£
Stock	481,964	558,355
Goods in transit	401,341	351,782

	883,305	910,137

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Pesca Rich Europe Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	296,741	384,700
Amounts owed by group undertakings	3,619	3,093
Other debtors	31,362	32,806

	331,722	420,599

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	55,210	79,583
Amounts owed to group undertakings	1,002	745
Other creditors	60,461	59,096
Taxation and social security	18,600	71,135

	135,273	210,559

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	600,000	600,000

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	20,000	20,000
Later than one year and not later than five years	55,000	75,000

	75,000	95,000

In addition, the company has commitments for purchases totalling £246,414 (2024: £957,972).

11. Related Party Transactions

Pesca Rich Corporation

Parent undertaking

During the year the company was charged management fees of £7,954 (2024: £8,404) by Pesca Rich Corporation, a company incorporated in Japan. At the year end, no amounts were due to or from Pesca Rich Corporation (2024: £nil).

Pesca Rich Europe GmbH

Subsidiary undertaking

During the year the company charged management fees of £15,546 (2024: £64,160) to Pesca Rich Europe GmbH, a company incorporated in Germany. At the year end £1,002 (2024: £740) was owed by Pesca Rich Europe GmbH.

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Pesca Rich Europe Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

12. Ultimate Controlling Party

The company's ultimate controlling party is Pesca Rich Corporation (Japan) by virtue of his ownership of 100% of the issued share capital in the company.

13. Audit Information

The auditor's report on the accounts of Pesca Rich Europe Limited for the year ended 31 December 2025 was unqualified.

The auditor's report was signed by Andrew Milllet BA MBA FCA (Senior Statutory Auditor) for and on behalf of Millet Audit Limited , Statutory Auditor.

Millet Audit Limited

Chartered Accountants and Statutory Auditors

Beyond Aldgate Tower

2 Leman Street

London

E1 8FA

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		215,595		111,911
Investments	5		22,238		22,238

			237,833		134,149
CURRENT ASSETS
Stocks	6	883,305		910,137
Debtors	7	331,722		420,599
Cash at bank and in hand		2,151,446		1,962,957

		3,366,473		3,293,693
Creditors: Amounts Falling Due Within One Year	8	(135,273 )		(210,559 )

NET CURRENT ASSETS (LIABILITIES)			3,231,200		3,083,134

TOTAL ASSETS LESS CURRENT LIABILITIES			3,469,033		3,217,283

PROVISIONS FOR LIABILITIES
Deferred Taxation			(52,671 )		(26,480 )

NET ASSETS			3,416,362		3,190,803

CAPITAL AND RESERVES
Called up share capital	9		600,000		600,000
Profit and Loss Account			2,816,362		2,590,803

SHAREHOLDERS' FUNDS			3,416,362		3,190,803