Company No: 00856663 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	D P P Desoubry (Appointed 01 April 2026)
	H Hori (Resigned 22 January 2024)
	D L Loines
	N Murata (Resigned 13 January 2026)
	R Ohora (Appointed 01 October 2025)
	T Wada (Resigned 22 January 2024)
	F C Wilkinson (Resigned 31 March 2026)

SECRETARY

Sisec Limited

REGISTERED OFFICE	21 Holborn Viaduct
	London
	EC1A 2DY
	United Kingdom

COMPANY NUMBER

00856663 (England and Wales)

AUDITOR	Tuerner Audit Limited
	Statutory Auditor
	Bridge House
	Old Grantham Road
	Whatton
	Nottingham
	NG13 9FG

	Note	2024		2023
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	31,632		0
		31,632		0
Current assets
Stocks		136,295		69,744
Debtors
- due within one year	5	677,497		902,832
- due after more than one year	5	14,148		0
Cash at bank and in hand		230,279		210,302
		1,058,219		1,182,878
Creditors: amounts falling due within one year	6	( 481,303)		( 454,895)
Net current assets		576,916		727,983
Total assets less current liabilities		608,548		727,983
Net assets		608,548		727,983
Capital and reserves
Called-up share capital	7	200		200
Share premium account		1,199,900		1,199,900
Capital redemption reserve		337,303		337,303
Profit and loss account		( 928,855 )		( 809,420 )
Total shareholders' funds		608,548		727,983

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Dayton Progress Limited (registered number: 00856663) were approved and authorised for issue by the Board of Directors on 20 July 2026. They were signed on its behalf by:

D L Loines Director

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

Dayton Progress 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 21 Holborn Viaduct, London, EC1A 2DY, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes for goods sold.
Revenue from the sale of goods is recognised when the goods have passed to the buyer (usually on dispatch of goods).

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

3 - 5 years straight line

Leases

The company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit of loss in the period to which they relate.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

2. Prior year adjustment

At 31 December 2023, Stock and Trade Debtors were overstated by £56,378. In addition, Other Creditors and Trade Creditors were understated by £12,974, and the Taxation and Social Security asset was understated by £22,829. £23,572 of the prior year adjustment relates to the 31 December 2022 year end.

The directors have corrected this error in the 31 December 2024 financial statements by prior year adjustment.
The effect of the prior year adjustment is:

		As previously reported		Adjustment		As restated
Year ended 31 December 2023		£		£		£
Stock		125,798		(56,054)		69,744
Trade Debtors		799,546		(324)		799,222
Other Creditors		(7,701)		(7,315)		(15,016)
Trade Creditors		15,796		(5,659)		10,137
Taxation and Social Security		(204,100)		22,829		(181,271)
Prior Year Adjustment		0		23,572		23,572
Sales		(2,555,489)		(4,876)		(2,560,365)
Cost of Sales		1,505,878		(30,526)		1,475,352
Administrative Expenses		638,220		58,353		696,573

3. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	10		8

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2024	14,424		14,424
Additions	33,482		33,482
At 31 December 2024	47,906		47,906
Accumulated depreciation
At 01 January 2024	14,424		14,424
Charge for the financial year	1,850		1,850
At 31 December 2024	16,274		16,274
Net book value
At 31 December 2024	31,632		31,632
At 31 December 2023	0		0

5. Debtors

	2024		2023
	£		£
Debtors: amounts falling due within one year
Trade debtors	671,497		902,832
Amounts owed by group undertakings	795		0
Other debtors	5,205		0
	677,497		902,832
Debtors: amounts falling due after more than one year
Other debtors	14,148		0

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	78,400		0
Amounts owed to group undertakings	194,635		258,608
Other taxation and social security	138,402		181,271
Other creditors	69,866		15,016
	481,303		454,895

7. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each	200		200

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2024		2023
	£		£
Within one year	29,475		9,750
Between one and five years	135,585		0
Total future minimum lease payments under non-cancellable operating leases	165,060		9,750

9. Parent Company

The parent company of the smallest group into which the accounts are consolidated is Dayton Progress Corporation whose registered office is 500 Progress Road, Dayton, Ohio, USA.
The ultimate parent company is Mitsumi Group Inc, a company incorporated in Japan.

10. Audit Opinion

As the income statement has been omitted from the filing copy of the financial statements, the following
information in relation to the audit report on the statutory financial statements is provided in accordance
with s444(5B) of the Companies Act 2006:

The auditor's report was qualified in the audit report was as follows:

Disclaimer of Opinion

We were unable to obtain adequate and sufficient evidence to support an opinion on the financial statements.
At 31 December 2024, the company was in the process of changing the location of its warehouses. Consequently we were unable to attend and thus did not observe the counting of physical inventories at the end of the year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 December 2024 which are stated in the financial statements at £136,295. In addition, since the company suffered a cyber-attack on 22 December 2022 resulting in the loss of some corporate accounting records, it has found the recovery from this loss of records challenging. The consequences of the data loss continued into the years ended 31 December 2023 and 31 December 2024. Consequently, we were unable to confirm or verify by alternative means, the existence of certain transactions within the financial statements due to the loss of supporting documentation impacting the results for the years ended 31 December 2022, 31 December 2023 and 31 December 2024. As a result of these matters, we were unable to determine whether any adjustments may have been found necessary in respect of recorded or unrecorded inventories and transactions, and items contributing to the statement of comprehensive income, statement of changes in equity and the balance sheet.

The audit report was signed by Caroline Peverett BA FCA on behalf of Tuerner Audit Limited.