Caseware UK (AP4) 2024.0.164 2024.0.164 false2023-07-01The principal activity is that of wholesale of closing and footwear.44truetrue 12970662 2023-07-01 2024-06-30 12970662 2022-07-01 2023-06-30 12970662 2024-06-30 12970662 2023-06-30 12970662 c:Director1 2023-07-01 2024-06-30 12970662 d:CurrentFinancialInstruments 2024-06-30 12970662 d:CurrentFinancialInstruments 2023-06-30 12970662 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 12970662 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 12970662 d:ShareCapital 2024-06-30 12970662 d:ShareCapital 2023-06-30 12970662 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 12970662 d:RetainedEarningsAccumulatedLosses 2024-06-30 12970662 d:RetainedEarningsAccumulatedLosses 2023-06-30 12970662 c:OrdinaryShareClass1 2023-07-01 2024-06-30 12970662 c:OrdinaryShareClass1 2024-06-30 12970662 c:OrdinaryShareClass1 2023-06-30 12970662 c:FRS102 2023-07-01 2024-06-30 12970662 c:Audited 2023-07-01 2024-06-30 12970662 c:FullAccounts 2023-07-01 2024-06-30 12970662 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12970662 c:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12970662










Carhartt UK Limited










Financial statements

For the year ended 30 June 2024

 
Carhartt UK Limited
Registered number: 12970662

Balance Sheet
As at 30 June 2024

2024
2023
Note

  

Current assets
  

Debtors: amounts falling due within one year
 4 
264,833
300,113

Bank and cash balances
  
160,088
286,868

  
424,921
586,981

Creditors: amounts falling due within one year
 5 
(526,437)
(685,884)

Net current liabilities
  
 
 
(101,516)
 
 
(98,903)

Total assets less current liabilities
  
(101,516)
(98,903)

  

Net liabilities
  
(101,516)
(98,903)


Capital and reserves
  

Called up share capital 
 6 
113
113

Profit and loss account
 7 
(101,629)
(99,016)

  
(101,516)
(98,903)


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 profit and loss account 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 by: 




................................................
A Foppen
Director

Date: 1 April 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
Carhartt UK Limited
 

 
Notes to the Financial Statements
For the year ended 30 June 2024

1.


General information

Carhartt UK Limited is a private company, limited by shares, incorporated and domiciled in England and Wales with the registration number 05913593. The address of its principal place of business and its registered office is The Kiln, Mather Road, Newark, Nottinghamshire, United Kingdom, NG24 1FB. The principal activity of the company is that of wholesale of clothing and footwear.

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 Section 1A of 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 management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the balance sheet date, the Company has net liabilities of £101,516 (2022: £98,903). The Company meets its day to day working capital requirements with the support of its parent undertaking Carhartt Holdings BV. The parent undertaking has confirmed its willingness to continue to support the company and its operations over at least the next 12 months from the date of approval of the financial statements.
Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

  
2.3

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. Revenue from the sale of goods is recognised when goods are delivered and the legal title has been passed.

 
2.4

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.

 
2.5

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.

 
2.6

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and payables to group undertakings..

Page 2

 
Carhartt UK Limited
 

 
Notes to the Financial Statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional currency is pounds sterling. This differs from the presentational currency which is Euros. The reason for the difference is to align with group reporting currency.

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.

 
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

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.

 
2.11

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 3

 
Carhartt UK Limited
 

 
Notes to the Financial Statements
For the year ended 30 June 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).
 


4.


Debtors

2024
2023


Trade debtors
262,243
247,604

Amounts owed by group undertakings
113
113

Other debtors
-
50,000

Prepayments and accrued income
2,477
2,396

264,833
300,113



5.


Creditors: Amounts falling due within one year

2024
2023

Trade creditors
53,657
61,511

Amounts owed to group undertakings
303,582
426,010

Other taxation and social security
115,703
153,609

Other creditors
3,900
-

Accruals and deferred income
49,595
44,754

526,437
685,884



6.


Share capital

2024
2023
Authorised, allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
113
113



7.


Reserves

Profit and loss account

This reserve comprises all the current and prior period retained profits and losses after deducting any distributions made to the company's shareholder.

Page 4

 
Carhartt UK Limited
 

 
Notes to the Financial Statements
For the year ended 30 June 2024

8.


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 €10,779 (2023 - €9,264). Contributions totalling €Nil (2021 - €Nil) were outstanding at the balance sheet date and included in creditors.


9.


Related party transactions

The company is taking advantage of the disclosure exemption under FRS 102, Section 33, paragraph 33.1A to not disclose transactions entered into with a wholly owned companies within the group. 


10.


Controlling party

Carhartt UK Limited is a wholly owned subsidiary of Carhartt Holdings BV, incorporated in the Netherlands. The consolidated financial statements of the group are available to the public at Cruquiusweg 109-D,1019 AG Amsterdam, the Netherlands.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 7 April 2025 by Anne Dwyer Bsc (Hons) FCA (Senior statutory auditor) (Senior Statutory Auditor) on behalf of Kreston Reeves LLP.

Page 5