Registered number:
for the year ended
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H. Marcel Guest, Limited
Company Information
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H. Marcel Guest, Limited
Contents
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H. Marcel Guest, Limited
Chairman's Statement
for the year ended 30 September 2024
The chairman presents his statement for the period.
2024 has been a year of continuing international, political and financial turbulence. It is difficult to remember a time in the group’s 95 years of operation where there were so many global flashpoints, many with the potential to escalate dangerously and dramatically: Ukraine, Israel, Gaza, Iran, Syria, Venezuela, Taiwan…. the list is long and the spread worldwide.
Most businesses prosper best in times of stability and optimism, and it is difficult to use those two descriptors for the world right now. The global supply chains that we rely on show patchy and ponderous betterment overall, but mergers, rebranding and business failures have created a landscape that is virtually unrecognisable compared to just a few years ago. Things are getting better, but it does appear that we may never return to the high standards of the past for the supply of raw material, packaging, and logistics fields. Not everything is bad. Fortunately, there are signs that inflation has peaked in most of the world, giving hope for reduction in interest rates and the attendant improvement in business financing generally. Most importantly, notwithstanding the turbulence, the group's principal trading subsidiary, HMG Paints has had a very satisfactory year of growth and improvement including development into several niche and new markets. We continue to invest in the Riverside Works site, this year completing the refurbishment of the main store and taking back full control of the New Era site adjacent to us following temporary use by Transport for Greater Manchester for a couple of years. We are now just 5 years away from our centenary. All the team in HMG and Marcel Guest can take pride in where we are now and the plans we have for those next 5 years. Our home base of Collyhurst continues to evolve from a rather unsung status into a valued and valuable part of the great City of Manchester. In that setting we fully intend to maintain our status as a leading employer, pioneering ecological agent and cheerleader for Collyhurst …. our corporate birthplace. 2024-25 is likely to be quite an inflection point for the company as our leadership team and our next generation progress through the gears and take the business onwards and upwards. This is a time for ambition and progress for the group and will certainly be “right up the street” of the great team we have. In this note it is my pleasure to thank them for all their hard work, to congratulate them for last year’s financial result, and to encourage them to keep up the pace and the “passion for paint” that is the HMG way.
NameS Falder
Chairman
Date1 March 2025
Page 1
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H. Marcel Guest, Limited
Group Strategic Report
for the year ended 30 September 2024
The directors present their strategic report for the year ended 30 September 2024
Business review During another year of continued economic uncertainty and political instability, the Group once again demonstrated its agility and adaptability in further diversifying its product range and managing to secure several new contracts, which have strengthened our customer base. We have continued to monitor costs and prices throughout this challenging year to navigate through the issues caused by ongoing global conflicts, increasing interest rates, persistent inflation and a change of Government. Despite these macro-economic factors, we succeeded in increasing turnover and reporting an improvement in gross margin which is reflected in these results. Considering this combination of extraordinary adverse and unstable conditions, turnover and profitability are deemed by the Board to be more than satisfactory given the challenges faced by the company through the year. The Group's principal subsidiary, HMG Paints Ltd, maintains a strategy of long-term business, at the heart of which is the aim of building security for all the company stakeholders. During 2023/24 the company has continued to maintain its performance in line with those objectives. We have continued to invest heavily in the health and safety, technical training, and development of our people along with the continuous enhancement of our working environment. Indeed, in the year the HMG Paints Limited invested £1.2 million in capital improvements throughout the business. Overall, we are satisfied with the performance of the group through 2023/24 and we believe that, because of the continued investment, we are well positioned to embrace the challenges which the financial year 2024/25 will bring. Principal risks and uncertainties The company’s activities expose it to several financial risks including credit risk and liquidity risk. The factors described below highlight risks and uncertainties which affect the company, but they are not intended to be an exhaustive analysis of all the potential risks which may arise in the ordinary course of business. The directors are of the opinion that sufficient internal controls have been implemented to monitor these factors and to enable timely management action to be taken to mitigate the risks. Political risk The wars in Ukraine and the Middle East, plus departure of the UK from the European Union, continue to represent a period of uncertainty for the business as our supply chain relies heavily on materials from the EU. We are managing this risk by ensuring we have appropriate finance in place should it be needed, as well as increasing levels of stock so that any disruption does not leave us exposed. Financial risk Our financial risk management objectives are to ensure sufficient working capital for the company and plans remain absolutely to our expectations. Financial risks are managed through internal management controls, timely and accurate management information and by careful monitoring of sales activity and margins. The company does not feel it is necessary to hedge its currency or interest rate risk.
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H. Marcel Guest, Limited
Group Strategic Report (continued)
for the year ended 30 September 2024
Credit risk
The company's principal financial assets are bank balances and cash, trade, and other receivables. Its credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. The company has a credit insurance policy in place to mitigate the credit risk from trade receivables. Liquidity risk To maintain liquidity and to ensure that sufficient funds are available for ongoing operations and future developments the company has a mixture of long term and short-term finance. Financial key performance indicators The key performance indicators that are monitored on a weekly, monthly, and annual basis are revenue, profit, and cash balances, all of which are derived from the financial statements. The revenue and profit figures are stated below.
The results were acceptable throughout the year and the performance marginally exceeded our budgeted expectations.
This report was approved by the board and signed on its behalf.
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H. Marcel Guest, Limited
Directors' Report
for the year ended 30 September 2024
The directors present their report and the financial statements for the year ended 30 September 2024.
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £1,732,445 (2023 - £1,130,847).
The directors have declared dividends during the year of £600,000 (2023: £340,000).
The directors who served during the year were:
The directors consider that the forthcoming financial year will be another year of solid performance, building further security for all our stakeholders.
The Group will continue to invest heavily in research and development activities in the forthcoming year to ensure that it stays at the forefront of innovation in the coatings industry. The continued investment will enable the business to offer unique innovative products for its customers.
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H. Marcel Guest, Limited
Directors' Report (continued)
for the year ended 30 September 2024
There have been no significant events affecting the Group since the year end.
The auditors, Hurst Accountants Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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H. Marcel Guest, Limited
Independent Auditors' Report to the Members of H. Marcel Guest, Limited
We have audited the financial statements of H. Marcel Guest, Limited (the 'parent company') and its subsidiaries (the 'Group') for the year ended 30 September 2024, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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H. Marcel Guest, Limited
Independent Auditors' Report to the Members of H. Marcel Guest, Limited (continued)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
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H. Marcel Guest, Limited
Independent Auditors' Report to the Members of H. Marcel Guest, Limited (continued)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Identifying and assessing potential risks related to irregularities In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
∙The nature of the industry and sector in which the company operates; the control environment and business performance including key drivers for directors' remuneration, bonus levels and performance targets.
∙The outcome of enquiries of local management and parent company management, including whether management was aware of any instances of non-compliance with laws and regulations, and whether management had knowledge if any actual, suspected, or alleged fraud.
∙Supporting documentation relating to the Company's policies and procedures for:
°Identifying, evaluating, and complying with laws and regulations.
°Detecting and responding to the risks of fraud.
∙The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
∙The outcome of discussions amongst the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
∙The legal and regulatory framework in which the Company operates, particularly those laws and regulations which have a direct effect on the financial statements, such as the Companies Act 2006, pensions and tax legislation, or which had a fundamental effect on the operations of the Company, including General Data Protection requirements and Anti-bribery and Corruption.
Audit response to risks identified
Our procedures to respond to the risks identified included the following:
∙Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the provisions of those relevant laws and regulations which have a direct effect on the financial statements.
∙Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud.
∙Evaluation of the operating effectiveness of management’s controls designed to prevent and detect irregularities.
∙Enquiring of management about any actual and potential litigation and claims.
∙Performing analytical procedures to identify any unusual or unexpected relationships which may indicate risks of material misstatement due to fraud.
∙Reading minutes of meetings of those charges with governance.
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H. Marcel Guest, Limited
Independent Auditors' Report to the Members of H. Marcel Guest, Limited (continued)
We have also considered the risk of fraud through management override of controls by:
∙Testing the appropriateness of journal entries and other adjustments; we have used data analytics software to run tests designed to identify accounting transactions which may pose a heightened risk of material misstatement, whether due to fraud or error;
∙Challenging assumptions made by management in their significant accounting estimates, and assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and
∙Evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of them. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 an Auditors' Report 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.
for and on behalf of
Chartered Accountants & Statutory Auditors
3 Stockport Exchange
Railway Road
SK1 3GG
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H. Marcel Guest, Limited
Consolidated Statement of Comprehensive Income
for the year ended 30 September 2024
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H. Marcel Guest, Limited
Registered number: 00251148
Consolidated Balance Sheet
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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H. Marcel Guest, Limited
Registered number: 00251148
Company Balance Sheet
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 17 to 39 form part of these financial statements.
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H. Marcel Guest, Limited
Consolidated Statement of Changes in Equity
for the year ended 30 September 2024
Consolidated Statement of Changes in Equity
for the year ended 30 September 2023
Page 13
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H. Marcel Guest, Limited
Company Statement of Changes in Equity
for the year ended 30 September 2024
Company Statement of Changes in Equity
for the year ended 30 September 2023
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H. Marcel Guest, Limited
Consolidated Statement of Cash Flows
for the year ended 30 September 2024
Page 15
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H. Marcel Guest, Limited
Consolidated Analysis of Net Debt
for the year ended 30 September 2024
Page 16
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H. Marcel Guest, Limited
Notes to the Financial Statements
for the year ended 30 September 2024
H Marcel Guest Limited is a private company limited by shares, incorporated in England. The registered office is Riverside Works, Collyhurst Road, Manchester, M40 7RU.
The principal activity is the manufacture of paints, surface coatings and related products and services.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3). Parent company disclosure exemptions In preparing the separate financial statements of the parent company, advantage has been taken of the following disclosure exemptions available to qualifying entities:
∙No cash flow statement or net debt reconciliation has been presented for the parent company;
∙No statement of comprehensive income has been presented for the parent company;
∙Disclosure in respect of the parent company's income, expense, net gains and net losses on financial instruments measured at amortised cost have not been presented as equivalent disclosures have been provided in respect of the group as a whole; and
∙No disclosure has been given for the aggregate remuneration of the key management personnel of the parent company as their remuneration is included in the totals for the group as a whole.
The consolidated financial statements present the results of the company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
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H. Marcel Guest, Limited
Notes to the Financial Statements
for the year ended 30 September 2024
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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H. Marcel Guest, Limited
Notes to the Financial Statements
for the year ended 30 September 2024
2.Accounting policies (continued)
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
Defined contribution pension plan
The group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payment obligations. The contributions are recognised as an expense in the profit and 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 group in independently administered funds. Scheme membership and benefits The group also operates a hybrid arrangement scheme with both benefit and defined contribution elements. The benefits of "director members" are provided on a money purchase basis, but such benefits are restricted to the net assets available, having first made full provision for the benefits of all defined benefit members. The principal employer is H Marcel Guest Limited and the participating employer is HMG Paints Limited.
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H. Marcel Guest, Limited
Notes to the Financial Statements
for the year ended 30 September 2024
2.Accounting policies (continued)
Acquired trademarks are shown at historical cost. The trademark is being amortised over the 10 years. This is also subject to an annual impairment review.
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H. Marcel Guest, Limited
Notes to the Financial Statements
for the year ended 30 September 2024
2.Accounting policies (continued)
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.
Depreciation is provided on the following basis:
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.
Investments in unlisted group 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 Consolidated profit and loss the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Investments in listed company shares are remeasured to market value at each Balance Sheet date. Gains and losses on remeasurement are recognised in profit and loss for the period. In the consolidated accounts, where material, interests in associated undertakings are accounted for using the equity method of accounting. Under this method an equity investment is initially recognised at the transaction price (including transaction costs) and is subsequently adjusted to reflect the investors share of the profit or loss, other comprehensive income and equity of the associate. The Consolidated Statement of Comprehensive Income includes the Group's share of the operating results, interest, pre-tax results and attributable taxation of such undertakings applying accounting policies consistent with those of the Group. In the Consolidated Balance Sheet, the interests in associated undertakings are shown as the Group's share of the identifiable net assets, including any unamortised premium paid on acquisition. Any premium on acquisition is dealt with in accordance with the goodwill policy.
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H. Marcel Guest, Limited
Notes to the Financial Statements
for the year ended 30 September 2024
2.Accounting policies (continued)
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. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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H. Marcel Guest, Limited
Notes to the Financial Statements
for the year ended 30 September 2024
2.Accounting policies (continued)
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
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 Group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
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.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.
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H. Marcel Guest, Limited
Notes to the Financial Statements
for the year ended 30 September 2024
2.Accounting policies (continued)
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group 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 Group 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 Group's contractual obligations expire or are discharged or cancelled.
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H. Marcel Guest, Limited
Notes to the Financial Statements
for the year ended 30 September 2024
Stock provision Stock is reviewed to assess obsolescence on a regular basis. In determining whether provision for obsolescence should be recorded in profit and loss, the company makes judgements as to whether there is any observable data indicating that there is any future saleability of the product and the estimated net realisable value for such product. Accordingly, provision for impairment is made where the net realisable value is less than the cost based on best estimates by the management. The provision for obsolescence of stock is based on the ageing and historical sales pattern. As at 30 September 2024, the value of stock net of provision was £4,983,619 (2023: £4,709,681). Stock valuation and overhead absorption Stock is valued including raw material costs, production labour and an allocation of production related overheads. The overhead calculation is based on a judgement of the production element of certain overheads which may differ from the actual. As at 30 September 2024, the value of labour and overheads included in stock was £738,005 (2023: £677,951).
The whole of the turnover is attributable to the sales of paint products.
Analysis of turnover by country of destination:
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Notes to the Financial Statements
for the year ended 30 September 2024
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Notes to the Financial Statements
for the year ended 30 September 2024
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Notes to the Financial Statements
for the year ended 30 September 2024
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H. Marcel Guest, Limited
Notes to the Financial Statements
for the year ended 30 September 2024
12.Taxation (continued)
There were no factors that may affect future tax charges.
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Notes to the Financial Statements
for the year ended 30 September 2024
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Notes to the Financial Statements
for the year ended 30 September 2024
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H. Marcel Guest, Limited
Notes to the Financial Statements
for the year ended 30 September 2024
15.Tangible fixed assets (continued)
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Notes to the Financial Statements
for the year ended 30 September 2024
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Notes to the Financial Statements
for the year ended 30 September 2024
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Notes to the Financial Statements
for the year ended 30 September 2024
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H. Marcel Guest, Limited
Notes to the Financial Statements
for the year ended 30 September 2024
18.Debtors (continued)
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Notes to the Financial Statements
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H. Marcel Guest, Limited
Notes to the Financial Statements
for the year ended 30 September 2024
Profit and loss account
The profit and loss account includes all current and prior period retained profits and losses after dividends paid.
The group operates a defined contribution pension scheme and also a hybrid arrangement with both defined benefit and defined contribution elements. The assets of the schemes are held separately from those of the company in individual independently administered funds. The pension cost charge represents contributions payable by the group to the fund and amounted to £471,992 (2023: £244,033) in relation to defined contribution schemes. Contributions totalling £49,588 (2023: £38,518) were payable to the funds at the balance sheet date.
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H. Marcel Guest, Limited
Notes to the Financial Statements
for the year ended 30 September 2024
In the opinion of the directors, the ultimate controlling party, by virtue of their shareholding is the Falder family.
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