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Registered number: 02508094 DAKS SIMPSON LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
DAKS SIMPSON LIMITED CONTENTS
| Page
Company information | 1
Balance sheet | 2
Statement of changes in equity | 3
Notes to the financial statements | 4 - 12
DAKS SIMPSON LIMITED COMPANY INFORMATION
Directors | A Inoue
| Y Imai
| T Niida
| T Miyazawa
Company secretary | D D'Aloisio
Registered number | 02508094
Registered office | 9 Dallington Street
| London
| EC1V 0LN
Independent auditor | Blick Rothenberg Audit LLP
| Chartered Accountants & Statutory Auditor
| 16 Great Queen Street
| Covent Garden
| London
| WC2B 5AH
Page 1
|  | REGISTERED NUMBER:02508094
DAKS SIMPSON LIMITED BALANCE SHEET AS AT 31 MARCH 2026
|  | 2026 |  | 2025
Note |  | £000 |  | £000
Fixed assets |  |  |  |  |
Tangible fixed assets | 4 |  | 278 |  | 245
Current assets |  |  |  |  |
Stocks |  | 165 |  | 409 |
Debtors due after more than 1 year |  | 84 |  | 80 |
Debtors: amounts falling due within one year | 5 | 1,821 |  | 1,849 |
Cash at bank and in hand |  | 12,755 |  | 11,151 |
|  | 14,825 |  | 13,489 |
Creditors: amounts falling due within one year | 6 | (273) |  | (323) |
Net current assets |  |  | 14,552 |  | 13,166
Total assets less current liabilities |  |  | 14,830 |  | 13,411
Creditors: amounts falling due after more than one year | 7 |  | (10) |  | (10)
Net assets |  |  | 14,820 |  | 13,401
Capital and reserves |  |  |  |  |
Called up share capital | 8 |  | 6,000 |  | 6,000
Profit and loss account |  |  | 8,820 |  | 7,401
Total equity |  |  | 14,820 |  | 13,401
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 by:
Y Imai
Director
Date: 29 June 2026
The notes on pages 4 to 12 form part of these financial statements. Page 2
DAKS SIMPSON LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2026
| Called up share capital | Profit and loss account | Total equity
| £000 | £000 | £000
At 1 April 2024 | 6,000 | 7,724 | 13,724
Comprehensive income for the year |  |  |
Profit for the year | - | 3,458 | 3,458
Total comprehensive income for the year | - | 3,458 | 3,458
Contributions by and distributions to owners |  |  |
Dividends: Equity capital | - | (3,781) | (3,781)
Total transactions with owners | - | (3,781) | (3,781)
At 1 April 2025 | 6,000 | 7,401 | 13,401
Comprehensive income for the year |  |  |
Profit for the year | - | 3,069 | 3,069
Total comprehensive income for the year | - | 3,069 | 3,069
Contributions by and distributions to owners |  |  |
Dividends: Equity capital | - | (1,650) | (1,650)
Total transactions with owners | - | (1,650) | (1,650)
At 31 March 2026 | 6,000 | 8,820 | 14,820
| The notes on pages 4 to 12 form part of these financial statements.
Page 3
DAKS SIMPSON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
1. | General information
DAKS Simpson Limited is a private company limited by shares. It is incorporated in England and Wales. The address of its registered office is 9 Dallington Street, London, England, EC1V 0LN. The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £000. 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 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
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
| 2.3 | Revenue
Revenue is measured at the fair value of the consideration received or receivable, net of discounts, rebates, value added tax and other sales taxes. Revenue is recognised when it is probable that the economic benefits will flow to the company and the amount can be measured reliably. The company generates revenue from the following sources: Royalty income Royalty income is recognised on an accruals basis in accordance with the substance of the relevant licence agreements. Where royalties are based on the licensee’s sales or usage, revenue is recognised in the period in which the underlying sales or usage occur. Where royalties are fixed or relate to a defined licence period, revenue is recognised on a straight line basis over the relevant contractual period to which the licence relates. Licensing fees Licensing fees are recognised over the period to which the licence relates, reflecting the period over which the licensed rights are made available to the licensee. Usage based licence fees are recognised in the period in which the relevant usage occurs. Wholesale and retail product sales Revenue from the sale of goods is recognised when the significant risks and rewards of ownership transfer to the customer, which is generally on dispatch or delivery, in accordance with the contractual terms. Page 4
DAKS SIMPSON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.4 | Operating leases: the company as lessee
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.
| 2.5 | Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
| 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 5
DAKS SIMPSON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.9 | 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 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 | 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:
|  |  |  | Long-term leasehold property | - | 2% (per annum)
|  |  |  | Plant and machinery | - | 10% to 25% (per annum)
|  |  |  | Fixtures and fittings | - | 10% to 25% (per annum)
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. Page 6
DAKS SIMPSON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.11 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. 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.
| 2.12 | 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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.13 | Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
| 2.14 | Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.
| 2.15 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Page 7
DAKS SIMPSON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.16 | Financial instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The company’s policies for its major classes of financial assets and financial liabilities are set out below. Financial assets Basic financial assets, including trade, other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Financial liabilities Basic financial liabilities, including trade and other creditors, bank loans, and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Impairment of financial assets Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. Page 8
DAKS SIMPSON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued) Financial instruments (continued) If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Derecognition of financial assets and financial liabilities Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Offsetting of financial assets and financial liabilities Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
| 2.17 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is Sterling(£). 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. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of thetransaction 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 profit and loss account within 'interest receivable and similar income' and 'interest payable and similar expenses'. All other foreign exchange gains and losses are presented in profit or loss within operating activities.
3. | Employees
| The average monthly number of employees, including directors, during the year was 13 (2025 -13).
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DAKS SIMPSON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
4. | Tangible fixed assets
|  | Long-term leasehold property | Plant and machinery | Fixtures and fittings | Total
|  | £000 | £000 | £000 | £000
| Cost |  |  |  |
| At 1 April 2025 | 420 | 218 | 61 | 699
| Additions | - | 77 | - | 77
| Disposals | - | (115) | - | (115)
| At 31 March 2026 | 420 | 180 | 61 | 661
| Depreciation |  |  |  |
| At 1 April 2025 | 280 | 141 | 33 | 454
| Charge for the year | 8 | 29 | 1 | 38
| Disposals | - | (109) | - | (109)
| At 31 March 2026 | 288 | 61 | 34 | 383
| Net book value |  |  |  |
| At 31 March 2026 | 132 | 119 | 27 | 278
| At 31 March 2025 | 140 | 77 | 29 | 246
Page 10
DAKS SIMPSON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
5. | Debtors
|  |  |  |  | 2026 | 2025
|  |  |  |  | £000 | £000
| Due after more than one year |  |
| Deferred taxation due after more than 1 year | 83 | 80
|  |  |  |  | 2026 | 2025
|  |  |  |  | £000 | £000
| Due within one year |  |
| Trade debtors | 954 | 916
| Amounts owed by group undertakings | 456 | 520
| Other debtors | 285 | 325
| Prepayments and accrued income | 43 | 88
| Deferred taxation | 83 | -
|  | 1,821 | 1,849
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £000 | £000
| Trade creditors | 29 | 124
| Amounts owed to group undertakings | 3 | 8
| Corporation tax | - | 6
| Other taxation and social security | 23 | 21
| Obligations under finance lease and hire purchase contracts | 65 | -
| Other creditors | 5 | 6
| Accruals and deferred income | 148 | 158
|  | 273 | 323
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £000 | £000
| Other creditors | 10 | 10
Page 11
DAKS SIMPSON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
8. | Share capital
|  |  |  |  | 2026 | 2025
|  |  |  |  | £000 | £000
|  | Allotted, called up and fully paid |  |
|  | 6,000,000 (2025 -6,000,000) Ordinary shares of £1.00 each | 6,000 | 6,000
9. | Commitments under operating leases
| At 31 March 2026 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £000 | £000
| Not later than 1 year | 206 | 351
| Later than 1 year and not later than 5 years | 88 | 146
|  | 294 | 497
10. | Related party transactions
| The company has taken the advantage of the exemption under FRS102 Section 33.1A, which permits the company not to disclose transactions entered between two or more members of the group, provided that any subsidiary which is party to the transaction is wholly owned by such a member.
11. | Post balance sheet events
Subsequent to the balance sheet date, on 23 April 2026 the company declared a dividend of £1,500,000. This dividend was payable on 30 April 2026.
12. | Parent undertaking
The company's parent company and immediate controlling party is Sankyo Seiko Co., Ltd. The parent of the smallest group of which the company is a member and which prepares consolidated accounts is Sankyo Seiko Co., Ltd. Its registered office address is 5-6, 2-chome, Azuchimachi, Chuo-ku, Osaka, 541-0052 Japan where copies of the consolidated financial statements can be obtained.
13. | Auditor's information
The auditor's report on the financial statements for the year ended 31 March 2026 was unqualified. The audit report was signed on 30 June 2026 by Nils Schmidt-Soltau FCA (senior statutory auditor) on behalf of Blick Rothenberg Audit LLP.
Page 12