FRS 102 1A ACCOUNTS GEMBA-CHO LIMITED

Registration number: 09061143 Gemba-Cho Limited Annual Report and Unaudited Financial Statements for the Year Ended 31 March 2018 FRS 102 IA Kennedy Legg Stafford House 10 Prince Of Wales Road Dorchester Dorset DTI IPW

Gemba-Cho Limited 2 Contents 8 to 10 Company Information 11 to 12 Directors Report Accountants' Report Profit and Loss Account Statement ofComprehensive Income Balance Sheet Statement ofChanges in Equity Notes to the Financial Statements The following pages do not form part ofthe statutory financial statements: Detailed profit and loss account

Director Gemba-Cho Limited Company Information Mr Anthony Victor Grant Registered office Stafford House Accountants 10 Prince OfWales Road Dorchester Dorset DT1 1PW Kennedy Legg Stafford House 10 Prince Of Wales Road Dorchester Dorset DTI IPW Page 1

Gemba-Cho Limited Director's Report for the Year Ended 31 March 2018 The director presents his report and the fmancial statements for the year ended 31 March 2018. Director ofthe company The director who held office during the year was as follows: Mr Anthony Victor Grant Principal activity The principal activity ofthe company is management consultancy services. Small companies provision statement This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 ofthe Companies Act 2006. Approved by the director on 19 December 2018 and signed on its behalfby: Mr Anthony Victor Grant Director Page 2

Chartered Accountants' Report to the Director on the Preparation ofthe Unaudited Statutory Accounts of Gemba-Cho Limited for the Year Ended 31 March 2018 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gemba-Cho Limited for the year ended 31 March 2018 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us. As a practising member firm ofthe Institute of Chartered Accountants in England and Wales(ICAEW),we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance!. This report is made solely to the Board of Directors of Gemba-Cho Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Gemba-Cho Limited and state those matters that we have agreed to state to the Board of Directors of Gemba-Cho Limited, as a body,in this report in accordance with ICAEW Technical Release 07/16 AAF.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gemba-Cho Limited and its Board of Directors as a body for our work or for this report. It is your duty to ensure that Gemba-Cho Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Gemba-Cho Limited. You consider that Gemba-Cho Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review ofthe accounts of Gemba-Cho 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 accounts. Kennedy Legg Stafford House 10Prince OfWales Road Dorchester Dorset DT1 1PW 19 December 2018 Page 3

Gemba-Cho Limited Profit and Loss Account for the Year Ended 31 March 2018 Note 2018 2017 £ £ Turnover 25,354 25,004 Cost ofsales (650) (1,728) Gross profit Administrative expenses 24,704 23,276 Operating profit (4,743) (3,636) Profit before tax 19,961 19,640 Taxation 19,961 19,640 Profit for the financial year (3,793) (3,928) 16,168 15,712 The above results were derived from continuing operations. The company has no recognised gains or losses for the year other than the results above. The notes on pages 8 to 10 form an integral part ofthese financial statements. Page 4

Gemba-Cho Limited Statement of Comprehensive Income for the Year Ended 31 March 2018 Note 2018 2017 £ £ Profit for the year 16,168 15,712 Total comprehensive income for the year 16,168 15,712 The notes on pages 8 to 10 form an integral part ofthese financial statements. Page 5

Gemba-Cho Limited (Registration number:09061143) Balance Sheet as at 31 March 2018 Current assets Note 2018 2017 Debtors 3 £ £ Cash at bank and in hand 4 5 326 1,949 Creditors: Amounts falling due within one year 5,042 3,321 Net assets 5,368 5,270 Capital and reserves (5,188) (4,858) Called up share capital Profit and loss account 180 412 Total equity 100 100 80 312 180 412 For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 ofthe Companies Act 2006 relating to small companies. Directors responsibilities: • The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and • The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation ofaccounts. These fmancial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 ofthe Companies Act 2006. Approved and authorised by the director on 19 December 2018 Mr Anthony Victor Grant Director The notes on pages 8 to 10 form an integral part ofthese financial statements. Page 6

Gemba-Cho Limited Statement of Changes in Equity for the Year Ended 31 March 2018 At 1 April 2017 Share capital Profit and loss Total Profit for the year £ account £ Total comprehensive income 1 00 £ 412 Dividends - 312 16,168 At31 March2018 16,168 - 16,168 At 1 April 2016 - 16,168 (16,400) Profit for the year 100 (16,400) Total comprehensive income 180 Dividends 80 At31 March2017 Share capital Profit and loss Total £ account £ 1 00 £ 100 - - 15,712 15,712 - 15,712 - 15,712 (15,400) 100 (15,400) 412 312 The notes on pages 8 to 10 form an integral part ofthese financial statements. Page 7

Gemba-Cho Limited Notes to the Financial Statements for the Year Ended 31 March 2018 1 General information The company is a private company limited by share capital, incorporated in England and Wales. The address ofits registered office is: Stafford House 10 Prince Of Wales Road Dorchester Dorset DT1 1PW United Kingdom These financial statements were authorised for issue by the director on 19 December 2018. 2 Accounting policies Summary ofsignificant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statement ofcompliance These fmancial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic ofIreland' and the Companies Act 2006. Basis of preparation These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. Revenue recognition Turnover comprises the fair value ofthe consideration received or receivable for the sale ofgoods and provision of services in the ordinary course ofthe company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount ofrevenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each ofthe company's activities. Tax The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Page 8

Gemba-Cho Limited Notes to the Financial Statements for the Year Ended 31 March 2018 Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms ofthe receivables. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date,they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Share capital Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net ofthe direct costs of issuing the equity instruments. If payment is deferred and the time value ofmoney is material, the initial measurement is on a present value basis. Dividends Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared. 3 Debtors Other debtors 2018 2017 £ £ 326 1,949 326 1,949 Page 9

Gemba-Cho Limited Notes to the Financial Statements for the Year Ended 31 March 2018 4 Creditors 2018 2017 Creditors: amounts falling due within one year £ £ Due within one year 1,395 930 Accruals and deferred income 3,793 3,928 Other creditors 5,188 4,858 5 Share capital Allotted, called up and fully paid shares 2018 £ 2017 £ No. No. Ordinary of£1 each 100 100 100 100 6 Dividends Interim dividends paid Interim dividend of£164.00(2017 - £154.00)per each Ordinary 2018 2017 £ £ 16,400 15,400 Page 10

Gemba-Cho Limited Detailed Profit and Loss Account for the Year Ended 31 March 2018 Turnover(analysed below) 2018 2017 Cost ofsales(analysed below) £ £ Gross profit 25,354 25,004 Gross profit(%) 650 1,728 Administrative expenses 24,704 23,276 Establishment costs(analysed below) 97.44% 93.09% General administrative expenses(analysed below) Finance charges(analysed below) 452 260 4,193 3,310 Profit before tax 98 66 4,743 3,636 19,961 19,640 This page does not form part ofthe statutory fmancial statements. Page 11

Gemba-Cho Limited Detailed Profit and Loss Account for the Year Ended 31 March 2018 2018 2017 £ £ Turnover 24,704 23,276 Fees 650 1,728 Other income 25,354 25,004 Cost ofsales Direct costs 650 1,728 Establishment costs 192 - Insurance 260 260 Use of home as office 452 260 General administrative expenses 1,080 - Telephone and broadband 866 1,160 Computer software and maintenance costs 59 Printing, postage and stationery - 17 Sundry expenses 21 Motor expenses 1,575 1,499 Accountancy fees 600 600 Legal and professional fees 13 13 3,310 Finance charges 4,193 Bank charges 66 98 This page does not form part ofthe statutory fmancial statements. Page 12