Japan Genki Trading Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04638686 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

JAPAN GENKI TRADING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

9

DIRECTORS:

Mr G Wherrell

Mr T Wherrell

SECRETARY:

Mr T Wherrell

REGISTERED OFFICE:

6B Parkway

Porters Wood

St Albans

Hertfordshire

AL3 6PA

REGISTERED NUMBER:

04638686 (England and Wales)

ACCOUNTANTS:

Hanburys Limited

6b Parkway

Porters Wood

St Albans

Hertfordshire

AL3 6PA

FIXED ASSETS

Tangible assets

4

2,422

3,050

Investments

5

8,957

8,957

11,379

12,007

CURRENT ASSETS

Debtors

6

676

-

Cash at bank

480

4

1,156

4

CREDITORS

Amounts falling due within one year

7

48,908

48,156

NET CURRENT LIABILITIES

(47,752

)

(48,152

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(36,373

)

(36,145

)

PROVISIONS FOR LIABILITIES

9

460

580

NET LIABILITIES

(36,833

)

(36,725

)

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

11

(36,835

)

(36,727

)

SHAREHOLDERS' FUNDS

(36,833

)

(36,725

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 21 December 2018 and were signed on its behalf by:

Mr G Wherrell - Director

1.	STATUTORY INFORMATION

Japan Genki Trading Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The accounts have been prepared on a going concern basis which assumes that the company will continue to

trade. The validity of this assumption is dependent on sufficient and continuing financial support being made

available by the company's director, the shareholders and the creditors. If the company were unable to continue

to trade adjustments would have to be made to reduce the value of assets to their realisable amount, to reclassify

fixed assets as current assets, and to provide for any further liabilities that may arise.

These financial statements for the year ended 31 March 2017 are the first financial statements of Japan Genki

Trading Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK

and Republic of Ireland. The reported financial position and financial performance for the previous period are

unaffected by the transition to FRS 102 other than by the inclusion of Deferred Tax amounting to £1,253 as at 1

April 2015, the date of transition to FRS 102.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the

contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is

a legally 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.

Basic financial assets

Basic financial assets, which include debtors and bank balances, are initially measured at transaction price

including transaction costs and are subsequently carried at amortised cost using the effective interest method

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. Financial assets classified as receivable within one

year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, 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. Financial liabilities classified as payable within one year are not

amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or

less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction

price and subsequently measured at amortised cost using the effective interest method.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2017

and 31 March 2018

2,232

11,415

13,647

DEPRECIATION

At 1 April 2017

1,881

8,716

10,597

Charge for year

88

540

628

At 31 March 2018

1,969

9,256

11,225

NET BOOK VALUE

At 31 March 2018

263

2,159

2,422

At 31 March 2017

351

2,699

3,050

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2017

and 31 March 2018

8,957

NET BOOK VALUE

At 31 March 2018

8,957

At 31 March 2017

8,957

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

676

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

480

300

Social security and other taxes

175

152

Directors' current accounts

47,803

47,304

Accruals

450

400

48,908

48,156

8.	FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the

contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is

a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction

price including transaction costs and are subsequently carried at amortised cost using the effective interest

method 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. Financial assets classified as

receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors that are classified as debt, 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. Financial liabilities classified as

payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or

less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction

price and subsequently measured at amortised cost using the effective interest method

9.	PROVISIONS FOR LIABILITIES

31.3.18

31.3.17

£

£

Deferred tax

Accelerated capital allowances

460

580

Deferred

tax

£

Balance at 1 April 2017

580

Credit to Income Statement during year

(120

)

Balance at 31 March 2018

460

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

2

ORDINARY

£1

2

2

11.

RESERVES

Retained

earnings

£

At 1 April 2017

(36,727

)

Deficit for the year

(108

)

At 31 March 2018

(36,835

)

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Japan Genki Trading Limited for the year ended 31 March 2018 which comprise the Profit and

Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Japan Genki Trading Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Japan Genki Trading Limited and state those matters that we have agreed to state to the Board of Directors of Japan Genki Trading Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Japan Genki Trading Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Japan Genki Trading Limited. You consider that Japan Genki Trading Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Japan Genki Trading Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hanburys Limited

6b Parkway

Porters Wood

St Albans

Hertfordshire

AL3 6PA

21 December 2018