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REGISTERED NUMBER: 12064740 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

COLE HAAN UK LTD

COLE HAAN UK LTD (REGISTERED NUMBER: 12064740)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


COLE HAAN UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







Directors: Ms L Williams Kelley
Mr T J Linko





Secretary: Vistra Cosec Limited





Registered office: Suite 1,
7th Floor, 50 Broadway
London
SW1H 0BL





Registered number: 12064740 (England and Wales)





Auditors: Fuller & Roper Limited
Chartered Accountants and Statutory Auditors
12 Old Mills Industrial Estate
Paulton
BS39 7SU

COLE HAAN UK LTD (REGISTERED NUMBER: 12064740)

BALANCE SHEET
31 MAY 2023

31/5/23 31/5/22
Notes $    $   
FIXED ASSETS
Intangible assets 4 23,403 -
Tangible assets 5 6,765 9,179
30,168 9,179

CURRENT ASSETS
Stocks 1,147,645 365,568
Debtors 6 948,495 714,493
Cash at bank 883,997 410,322
2,980,137 1,490,383
CREDITORS
Amounts falling due within one year 7 (2,941,183 ) (1,497,343 )
NET CURRENT ASSETS/(LIABILITIES) 38,954 (6,960 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,122

2,219

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 69,121 2,218
69,122 2,219

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:





Mr T J Linko - Director


COLE HAAN UK LTD (REGISTERED NUMBER: 12064740)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Cole Haan UK Ltd 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.

The Company’s functional and presentational currency is United States Dollar (USD) and the financial statements have been rounded to the nearest dollar ($).

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 is measured at the fair value of the consideration received or receivable, including discounts and rebates and excluding value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangible Assets is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc 10% - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 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.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

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 initially recognised at transaction price.


COLE HAAN UK LTD (REGISTERED NUMBER: 12064740)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into USD at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into USD at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
$   
Cost
Additions 26,176
At 31 May 2023 26,176
Amortisation
Charge for year 2,773
At 31 May 2023 2,773
Net book value
At 31 May 2023 23,403

COLE HAAN UK LTD (REGISTERED NUMBER: 12064740)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
$   
Cost
At 1 June 2022 18,558
Additions 8,283
Disposals (889 )
At 31 May 2023 25,952
Depreciation
At 1 June 2022 9,379
Charge for year 10,697
Eliminated on disposal (889 )
At 31 May 2023 19,187
Net book value
At 31 May 2023 6,765
At 31 May 2022 9,179

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
$    $   
Trade debtors 206,673 173,571
Amounts owed by group undertakings 646,798 381,912
Other debtors 66,781 129,024
Prepayments 28,243 29,986
948,495 714,493

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
$    $   
Trade creditors 2,187,086 1,102,314
Amounts owed to group undertakings 262,244 180,019
Corporation tax 14,633 -
VAT 7,230 772
Accrued expenses 469,554 214,238
Deferred income 436 -
2,941,183 1,497,343

Amounts owed to group are unsecured, interest free and repayable on demand.

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Simon Roper (Senior Statutory Auditor)
for and on behalf of Fuller & Roper Limited

9. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Cole Haan International B.V a company incorporated in the Netherlands. The ultimate parent company is Cole Haan Inc., a company incorporated in the USA. The company is controlled by private equity funds affiliated to Apax Partners.