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REGISTERED NUMBER: 03065954 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

HOWIES LIMITED

HOWIES LIMITED (REGISTERED NUMBER: 03065954)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Certified Accountants' Report 8

HOWIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: P Gilmartin
N J Orford
A P Gunn-Wilson





SECRETARY:





REGISTERED OFFICE: Building 18 Parc Dewi Sant
Job's Well Road
Carmarthen
Carmartenshire
SA31 3HB





REGISTERED NUMBER: 03065954 (England and Wales)





ACCOUNTANTS: Buchanan & Associates Limited
Mayden House
Main Road
Long Bennington
Nottinghamshire
NG23 5DJ

HOWIES LIMITED (REGISTERED NUMBER: 03065954)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,319 41,134

CURRENT ASSETS
Stocks 233,129 306,288
Debtors 5 63,566 202,834
Cash at bank and in hand 374,962 272,875
671,657 781,997
CREDITORS
Amounts falling due within one year 6 352,487 400,635
NET CURRENT ASSETS 319,170 381,362
TOTAL ASSETS LESS CURRENT
LIABILITIES

351,489

422,496

CREDITORS
Amounts falling due after more than one year 7 13,159 23,403
NET ASSETS 338,330 399,093

CAPITAL AND RESERVES
Called up share capital 1,851 1,851
Retained earnings 336,479 397,242
SHAREHOLDERS' FUNDS 338,330 399,093

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HOWIES LIMITED (REGISTERED NUMBER: 03065954)

BALANCE SHEET - continued
31 JANUARY 2024


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 6 October 2024 and were signed on its behalf by:





N J Orford - Director


HOWIES LIMITED (REGISTERED NUMBER: 03065954)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Howies Limited 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.

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, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised on dispatch of goods.

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 - 33% on cost and 20% 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.

Cost includes all direct costs incurred in bringing the stocks to their present location and condition.

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.

HOWIES LIMITED (REGISTERED NUMBER: 03065954)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

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.

Hire purchase and leasing commitments
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease (taking into account lease incentives).

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 80,856
DEPRECIATION
At 1 February 2023 39,722
Charge for year 8,815
At 31 January 2024 48,537
NET BOOK VALUE
At 31 January 2024 32,319
At 31 January 2023 41,134

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors (833 ) 223
Amounts owed by group undertakings 3,308 2,519
Amounts owed by participating interests 2,716 2,353
Other debtors 58,375 197,739
63,566 202,834

HOWIES LIMITED (REGISTERED NUMBER: 03065954)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,174 56,471
Trade creditors 33,174 30,578
Taxation and social security 116,416 111,100
Other creditors 192,723 202,486
352,487 400,635

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 13,159 23,403

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.24 31.1.23
£    £   
Within one year 20,000 20,000
Between one and five years - 25,000
20,000 45,000

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans - 46,540

The following security is held over the bank loan:
Debenture including fixed equitable charge over all the present and future freehold and leasehold property; first fixed charge over, among other things, book and other debts, chattels, goodwill and uncalled capital, both present and future; and first floating charge over all assets and undertakings both present and future given by Howies Limited.

Unlimited Company guarantee given by Kachikoshi Limited to secure all liabilities of Howies Limited.

The following security is held over the debenture:
Debenture over all assets of Howies Limited and Kachikoshi Limited given to Yokozuna Limited.

HOWIES LIMITED (REGISTERED NUMBER: 03065954)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
P Gilmartin
Balance outstanding at start of year 150,000 -
Amounts advanced - 230,072
Amounts repaid (150,000 ) (80,072 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 150,000

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Gilmartin.

Mr P Gilmartin is the ultimate controlling party by virtue of his majority shareholding in Yokozuna Limited, the ultimate parent company.

CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HOWIES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Howies Limited for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Howies Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Howies Limited and state those matters that we have agreed to state to the Board of Directors of Howies Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Howies Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Howies Limited. You consider that Howies Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Howies 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 financial statements.






Buchanan & Associates Limited
Mayden House
Main Road
Long Bennington
Nottinghamshire
NG23 5DJ


6 October 2024