Tokyo Industries (Two) Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04240717 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

TOKYO INDUSTRIES (TWO) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr A Mellor

Mr M O'Sullivan

Mr R Halliday

REGISTERED OFFICE:

1 City Road East

Manchester

M15 4PN

REGISTERED NUMBER:

04240717 (England and Wales)

ACCOUNTANTS:

KJG

100 Barbirolli Square

Manchester

M2 3BD

FIXED ASSETS

Tangible assets

4

481,525

598,633

CURRENT ASSETS

Stocks

41,199

51,787

Debtors

5

436,362

1,482,558

Cash at bank and in hand

476,510

129,279

954,071

1,663,624

CREDITORS

Amounts falling due within one year

6

418,120

531,195

NET CURRENT ASSETS

535,951

1,132,429

TOTAL ASSETS LESS CURRENT LIABILITIES

1,017,476

1,731,062

CAPITAL AND RESERVES

Called up share capital

7

1,800,100

1,800,100

Retained earnings

(782,624

)

(69,038

)

SHAREHOLDERS' FUNDS

1,017,476

1,731,062

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:

Mr A Mellor - Director

1.	STATUTORY INFORMATION

Tokyo Industries (Two) Limited is a private company limited by share capital, incorporated in England and Wales, registration number 04240717. The address of the registered office is 1 City Road East, Manchester, M15 4PN. The principal place of business is Times Square, Newcastle, NE1 4EP.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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.

Turnover

Turnover represents amounts recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of the sale of food, beverages and admissions fees which are recognised at the point of which the services are provided.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Long leasehold

-

over the life of the lease

Fixtures and fittings

-

15% reducing balance

At each reporting date, the Company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items of tangible fixed assets have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Government grants

Government grants are recognised on the accrual model and are measured at fair value of the asset receivable. Grants are classified as relating either to other income or to assets. Grants related to other income are recognised in profit or loss over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the first-in-first-out principle and includes expenditure in acquiring the stocks, product or conversion costs and other costs in bringing them to their existing location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Pension costs and other post-retirement benefits

The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.

Differences between contributions payable in the period and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 55 (2021 - 102 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

leasehold

fittings

Totals

£

£

£

COST

At 1 January 2022

and 31 December 2022

729,994

206,871

936,865

DEPRECIATION

At 1 January 2022

273,748

64,484

338,232

Charge for year

91,249

25,859

117,108

At 31 December 2022

364,997

90,343

455,340

NET BOOK VALUE

At 31 December 2022

364,997

116,528

481,525

At 31 December 2021

456,246

142,387

598,633

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade debtors

35,244

191,193

Amounts owed by group undertakings

306,244

-

Other debtors

19,263

37,938

Tokyo debtors

-

1,194,008

Deferred tax asset

3,239

2,277

Prepayments and accrued income

72,372

57,142

436,362

1,482,558

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade creditors

77,409

112,816

Amounts owed to group undertakings

-

154,031

Tax

126,457

7,060

Social security and other taxes

10,281

4,313

VAT

19,744

58,499

Other creditors

54,820

35,543

Tokyo creditors

89,207

16,225

Accruals and deferred income

40,202

142,708

418,120

531,195

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.22

31.12.21

value:

£

£

1,800,100

Ordinary

£1

1,800,100

1,800,100

8.	RELATED PARTY DISCLOSURES

The ultimate controlling party is Mr A Mellor, a director of the ultimate parent company by virtue of their controlling interest in the ultimate parent, Tokyo Group Limited.

The immediate parent undertaking at the balance sheet date was KJG 127 Limited and the ultimate parent undertaking was Tokyo Group Limited, both companies are registered in England and Wales and their registered office is 1 City Road East, Manchester, M15 4PN.