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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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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 2018 |
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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 2018 |
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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 2018 |
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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 2018 |
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31.12.18 | 31.12.17 |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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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 | 5 |
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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 2018 |
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1. | STATUTORY INFORMATION |
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Ricoh Printing Systems U.K., Ltd is a
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company's 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 financial statements have not been prepared on a going concern basis because the director intends to liquidate |
the company within the next 12 months from the balance sheet date. The financial statements have therefore been |
prepared on an alternative (break-up) basis. |
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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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Pension costs and other post-retirement benefits |
The company provided pensions to its employees under a defined benefit scheme. Defined benefit schemes are |
funded in separate administered trust funds. The difference between the market value of the scheme's assets and |
the actuarially assessed present value of the scheme's liabilities, calculated using the projected unit method, is |
disclosed as an asset/liability on the balance sheet, net of deferred tax (to the extent that it is recoverable). |
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The amount charged to operating profit is the actuarially determined cost of pension benefits promised to |
employees earned during the year plus any benefit improvements granted to members during the year. The |
expected return on the pension scheme's assets during the year and the increase in the scheme's liabilities due to |
the unwinding of the discount during the year are charged to finance income and finance expense in the profit and |
loss account. |
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Any difference between the expected return on assets and that actually achieved and any changes to the liabilities |
due to changes in assumptions or because actual experience during the year was different to that assumed, are |
recognised as actuarial gains and losses in the statement of total recognised gains and losses. |
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 2018 |
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2. | ACCOUNTING POLICIES - continued |
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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. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2017 - NIL). |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Amounts owed to group undertakings |
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Other creditors & accruals |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.18 | 31.12.17 |
value: | £ | £ |
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Ordinary | £1 | 22,000 | 22,000 |
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6. | 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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" Use of our report |
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." |
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 2018 |
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7. | 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 May 2019 by a professional actuary for the financial year ended 31 December |
2018. |
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During 2018 £23,900 (2017: NIL) was contributed to the scheme by the company. |
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Value of scheme assets and liabilities |
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31.12.18 | 31.12.17 |
£ | £ |
Market value of assets | 2,230,000 | 2,524,000 |
Present value of scheme liabilities | (2,230,000 | ) | (2,228,000 | ) |
Surplus/(deficit) in scheme | - | 296,000 |
Net pension asset/(liability) | - | 296,000 |
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8. | RELATED PARTY DISCLOSURES |
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During the year Ricoh Printing Systems U.K., 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 U.K., Ltd. There is a loan between the companies in US Dollars, and is translated into the |
presentational currency of Pounds Sterling at the Balance Sheet date. An amount of £2,841,691 (2017: |
£2,600,051) was owed to Ricoh Printing Systems America Inc. at the year end. |
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During the year Ricoh Printing Systems U.K., 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 U.K., Ltd. The |
amount owed at the balance sheet date was £2,644,188 (2017: £2,621,229). |
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9. | ULTIMATE CONTROLLING PARTY |
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There is no ultimate controlling party. |