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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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RICOH PRINTING SYSTEMS U.K., LTD |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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FOR |
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RICOH PRINTING SYSTEMS U.K., LTD |
RICOH PRINTING SYSTEMS U.K., LTD (REGISTERED NUMBER: 02622156) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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RICOH PRINTING SYSTEMS U.K., LTD |
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COMPANY INFORMATION |
for the Year Ended 31 December 2016 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditors |
Herschel House |
58 Herschel Street |
Slough |
Berkshire |
SL1 1PG |
RICOH PRINTING SYSTEMS U.K., LTD (REGISTERED NUMBER: 02622156) |
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BALANCE SHEET |
31 December 2016 |
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31.12.16 | 31.12.15 |
Notes | £ | £ |
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CREDITORS |
Amounts falling due within one year | 3 |
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NET CURRENT LIABILITIES | ( |
) | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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PROVISIONS FOR LIABILITIES |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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RICOH PRINTING SYSTEMS U.K., LTD (REGISTERED NUMBER: 02622156) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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Ricoh Printing Systems U.K., Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The directors have prepared the financial statements on the going concern basis, given that the parent company has |
sufficient resources to continue to support the entity however the UK entity may be closed, there would be no difference to |
the numbers if prepared on a break up basis. The entity is not operating and only exists to serve a pension scheme which |
may eventually be wound up, thus potentially rendering the company redundant. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent |
that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Foreign currencies |
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 of exchange ruling at the date of transaction. |
Exchange differences are taken into account in arriving at the operating result. |
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Financial instruments |
Basic financial instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not |
have any Other Financial Instruments, as covered by Section 12 of FRS 102. |
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3. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Amounts owed to group undertakings |
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Other creditors & accruals |
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RICOH PRINTING SYSTEMS U.K., LTD (REGISTERED NUMBER: 02622156) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2016 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.16 | 31.12.15 |
value: | £ | £ |
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Ordinary | £1 | 22,000 | 22,000 |
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5. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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We would like to draw your attention to the following statement contained within our audit report as included within the full |
financial statements:- |
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"This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the |
Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters |
we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, |
we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our |
audit work, for this report, or for the opinions we have formed." |
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6. | EMPLOYEE BENEFIT OBLIGATIONS |
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The company operates a defined benefit pension scheme. |
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An actuarial report was prepared in February 2017 by a professional actuary for the financial year ended 31 December |
2016. |
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During 2016 £35,000 (2015: £82,000) was contributed to the scheme by the company. |
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Value of scheme assets and liabilities |
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31.12.16 | 31.12.15 |
£ | £ |
Market value of assets | 2,331,000 | 1,879,000 |
Present value of scheme liabilities | (2,018,000 | ) | (1,635,000 | ) |
Surplus/(deficit) in scheme | 313,000 | 244,000 |
Net pension asset/(liability) | 313,000 | 244,000 |
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The pension scheme surplus has not been recognised in our accounts as the company has no beneficial interest in the asset. |
RICOH PRINTING SYSTEMS U.K., LTD (REGISTERED NUMBER: 02622156) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2016 |
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7. | RELATED PARTY DISCLOSURES |
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During the year Ricoh Printing Systems UK., Ltd received funds from Ricoh Printing Systems America Inc. Ricoh Printing |
Systems America Inc. is a related party by virtue of the fact it owns 99.9% of the share capital of Ricoh Printing Systems |
UK., Ltd. In the year Ricoh Printing Systems America Inc.provided funds of $197,625. As the loan is in US Dollars, and is |
translated to the presentational currency of Pounds Sterling at the Balance sheet date, there has been exchange rate |
fluctuations in year. An amount of £2,842,759 (2015: £2,236,606) was owed to Ricoh Printing Systems America Inc. at the |
year end. |
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During the year Ricoh Printing Systems UK., Ltd received funds from Ricoh Printing Systems Europe. Ricoh Printing |
Systems Europe is a related party by virtue of the fact they share common ownership, namely Ricoh Printing Systems |
American Inc. and it owns the remaining share capital of Ricoh Printing Systems UK., Ltd. During the year Ricoh Printing |
Systems Europe received net repayments of funding of £39,819 (2015: provided funding of £147,117) and an amount of |
£2,489,916 (2015: £2,529,735) was due to Ricoh Printing Systems Europe at the year end. |
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8. | ULTIMATE CONTROLLING PARTY |
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There is no ultimate controlling party. |
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9. | FIRST YEAR ADOPTION |
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The company adopted FRS 102 for the accounting year ended 31 December 2016. There were no adjustments arising at the |
transition date or at the end of the comparative period, therefore there is no difference between equity under the previous |
financial reporting framework and equity under FRS 102. |
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