Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30falsefalse2022-12-01Wholesale of textiles713falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00199803 2022-12-01 2023-11-30 00199803 2021-12-01 2022-11-30 00199803 2023-11-30 00199803 2022-11-30 00199803 c:Director2 2022-12-01 2023-11-30 00199803 d:Buildings d:ShortLeaseholdAssets 2022-12-01 2023-11-30 00199803 d:Buildings d:ShortLeaseholdAssets 2023-11-30 00199803 d:Buildings d:ShortLeaseholdAssets 2022-11-30 00199803 d:FurnitureFittings 2022-12-01 2023-11-30 00199803 d:FurnitureFittings 2023-11-30 00199803 d:FurnitureFittings 2022-11-30 00199803 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 00199803 d:ComputerEquipment 2022-12-01 2023-11-30 00199803 d:ComputerEquipment 2023-11-30 00199803 d:ComputerEquipment 2022-11-30 00199803 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 00199803 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 00199803 d:CurrentFinancialInstruments 2023-11-30 00199803 d:CurrentFinancialInstruments 2022-11-30 00199803 d:Non-currentFinancialInstruments 2023-11-30 00199803 d:Non-currentFinancialInstruments 2022-11-30 00199803 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 00199803 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 00199803 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 00199803 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 00199803 d:ShareCapital 2023-11-30 00199803 d:ShareCapital 2022-11-30 00199803 d:RetainedEarningsAccumulatedLosses 2023-11-30 00199803 d:RetainedEarningsAccumulatedLosses 2022-11-30 00199803 c:FRS102 2022-12-01 2023-11-30 00199803 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 00199803 c:FullAccounts 2022-12-01 2023-11-30 00199803 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 00199803 d:Subsidiary2 2022-12-01 2023-11-30 00199803 d:Subsidiary2 1 2022-12-01 2023-11-30 00199803 6 2022-12-01 2023-11-30 00199803 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 00199803









MAISON HENRY BERTRAND (ENGLAND) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
MAISON HENRY BERTRAND (ENGLAND) LIMITED
REGISTERED NUMBER: 00199803

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
41,904
54,777

Investments
 5 
15,001
15,001

  
56,905
69,778

Current assets
  

Stocks
 6 
236,493
240,379

Debtors: amounts falling due within one year
 7 
86,984
105,398

Cash at bank and in hand
 8 
5,493
4,841

  
328,970
350,618

Creditors: amounts falling due within one year
 9 
(682,590)
(612,139)

Net current liabilities
  
 
 
(353,620)
 
 
(261,521)

Total assets less current liabilities
  
(296,715)
(191,743)

Creditors: amounts falling due after more than one year
 10 
(10,100)
(17,791)

  

Net liabilities
  
(306,815)
(209,534)


Capital and reserves
  

Called up share capital 
  
50,000
50,000

Profit and loss account
  
(356,815)
(259,534)

  
(306,815)
(209,534)


Page 1

 
MAISON HENRY BERTRAND (ENGLAND) LIMITED
REGISTERED NUMBER: 00199803
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 August 2024.








K R Burke
Director

Page 2

 
MAISON HENRY BERTRAND (ENGLAND) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Maison Henry Bertrand (England) Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 00199803. The address of the registered office is 13-15 Station Road, London N3 2SB. The principal activity of the company continued to be that of wholesale of textiles.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared under the going concern basis in light of the continued support from the shareholders and directors.

 
2.3

Foreign currency translation

Functional and presentation currency

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
MAISON HENRY BERTRAND (ENGLAND) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
MAISON HENRY BERTRAND (ENGLAND) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis and straight line basis.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
10 % Straight line
Fixtures & Fittings
-
15% reducing balance
Computer Equipment
-
33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
MAISON HENRY BERTRAND (ENGLAND) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Derecognition of financial instruments

Derecognition of financial assets
Page 6

 
MAISON HENRY BERTRAND (ENGLAND) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.16
Financial instruments (continued)


Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
7
13

Page 7

 
MAISON HENRY BERTRAND (ENGLAND) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Tangible fixed assets





S/Term Leasehold Property
Fixtures & Fittings
Computer Equipment
Total

£
£
£
£



Cost or valuation


At 1 December 2022
61,322
121,858
214,054
397,234



At 30 November 2023

61,322
121,858
214,054
397,234



Depreciation


At 1 December 2022
30,660
114,233
197,564
342,457


Charge for the year on owned assets
6,132
1,144
5,597
12,873



At 30 November 2023

36,792
115,377
203,161
355,330



Net book value



At 30 November 2023
24,530
6,481
10,893
41,904



At 30 November 2022
30,662
7,625
16,490
54,777


5.


Fixed asset investments





Investments in Subsidiary Companies

£



Cost or valuation


At 1 December 2022
15,001



At 30 November 2023
15,001




Page 8

 
MAISON HENRY BERTRAND (ENGLAND) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Principal activity

Class of shares

Holding

London Silk Company Ltd
England
-
Wholesale of textiles
-
Ordinary
-
100%
-

The aggregate of the share capital and reserves as at 30 November 2023 and the profit or loss for the year ended on that date for the subsidiary undertaking was as follows:

Name
Aggregate of share capital and reserves

London Silk Company Ltd
30,000


6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
236,493
240,379

236,493
240,379



7.


Debtors

2023
2022
£
£


Trade debtors
45,599
41,045

Amounts owed by group undertakings
8,546
-

Other debtors
12,604
17,528

Prepayments and accrued income
20,235
46,825

86,984
105,398


Page 9

 
MAISON HENRY BERTRAND (ENGLAND) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
5,493
4,841

Less: bank overdrafts
(92,474)
(77,338)

(86,981)
(72,497)



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
92,474
77,338

Bank loans
30,746
40,493

Trade creditors
136,100
189,243

Amounts owed to group undertakings
30,001
43,910

Other taxation and social security
20,572
9,052

Obligations under finance lease and hire purchase contracts
3,463
4,448

Other creditors
354,779
231,371

Accruals and deferred income
14,455
16,284

682,590
612,139


Bank overdrafts are secured by fixed and floating charges over all the assets and undertakings of Maison Henry Bertrand (England) Limited and a cross guarantee by the London Silk Company Limited & Henry Bertrand Holdings Limited. 


10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
10,100
17,791

10,100
17,791


Page 10

 
MAISON HENRY BERTRAND (ENGLAND) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
30,746
40,493


30,746
40,493






12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £7,560 (2022: £8,089). As at the year end, the pensions payable balance was £475 (2022: Nil).


13.


Related party transactions

Key management personnel remuneration in the year totalled £109,800 (2022: £119,300). Information about the related party transactions and outstanding balances are outlined below:


2023
2022
£
£

Key management personnel of the company
(258,294)
(135,361)
Entities under common control
(139,919)
(139,919)
(398,213)
(275,280)


14.


Ultimate parent undertaking and controlling party

The ultimate parent company is Henry Bertrand Holdings Limited. There is no ultimate controlling party.

 
Page 11