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Registered number: 01074674









GUINOT - MARY COHR UK LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
GUINOT - MARY COHR UK LIMITED
 
 
COMPANY INFORMATION


Directors
M Welsh 
J D D Mondin 




Company secretary
L I C Filippi



Registered number
01074674



Registered office
The Clock House
High Street

Ascot

Berkshire

United Kingdom

SL5 7HU




Independent auditors
FLB Audit LLP
Chartered Accountants & Statutory Auditors

1010 Eskdale Road

Winnersh Triangle

Wokingham

United Kingdom

RG41 5TS





 
GUINOT - MARY COHR UK LIMITED
 

CONTENTS



Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditors' report
5 - 8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Statement of cash flows
12 - 13
Analysis of net debt
14
Notes to the financial statements
15 - 35


 
GUINOT - MARY COHR UK LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

Introduction
 
The directors present their strategic report for the year ended 31 December 2024.

Business review
 
We aim to present a balanced and comprehensive review of the development and the performance of our business during the year and its position at the year end. Our review is consistent with the size and non complex nature of our business and is written in the context of the risks and uncertainties that we face.
The principal activity of the company continues to be the sale of beauty treatment products and beauty therapy machines. It is currently the sole provider of Guinot, Mary Cohr and Masters Colors products to the United Kingdom and Ireland. It is a 100% subsidiary of its main supplier, Guinot SAS.

Principal risks and uncertainties
 
The management of the business and the execution of the company's strategy are subject to a number of risks. The key business risks and uncertainties affecting the business are considered to relate to the competition from other beauty treatments and products, the weakening of the UK and Irish economies, persistently high inflation as well as a continuing shortage of available beauty therapists.
Financial risk management
The company's operations expose it to financial risks that include price risk, credit risk and foreign exchange risk. The company's finance department implements policies set by the board of directors to mitigate these risks.
Price risk
The main price risk results from the company's main supplier Guinot, however, all price rises are known in advance and can be managed accordingly.
Credit risk
The majority of the company's customer base consists of established salons. The company has implemented policies that require appropriate credit checks on potential customers before sales are made.
Foreign exchange risk
The company buys in Euros and sells in both Sterling and Euros. The company operates accounts in both of these currencies to mitigate their exposure to foreign exchange risk.
Other uncertainties
The UK economy has still been struggling to grow in 2024, with retail sales volumes overall down by 0.8% in the last quarter of the year. This, as well as the upcoming increase in national living wage and employers’ National Insurance Contributions announced at the 2024 Autumn Budget, is likely to have an impact on the trading activity of the company’s customers, and therefore on the trading activity of the company itself. However, given the strength of the balance sheet and the funding options secured during the year the company is in a strong position to withstand the financial impact of this adverse pressure on trade, as well as counter it with appropriate measures to further develop existing and new business. Management has prepared prudent cash flow forecasts until December 2025 and has taken the appropriate measures to ensure that the company is a going concern.  

Page 1

 
GUINOT - MARY COHR UK LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Financial key performance indicators
 
The directors consider that the key performance indicators are those that communicate the financial performance and strength of the company as a whole; these being turnover, gross profit margin and net assets.
Trading conditions over the last 12 months have continued to be adversely impacted by macro-economic factors such as the difficult economic climate and low consumer confidence, persistent downturn in economy and an unresolved shortage of available beauty therapists coupled with high inflationary pressure on salaries. As a result of these environmental factors and the fact that, contrary to 2023,  the company didn’t have the benefit of a new Visible Age Reverse machine and treatment launch anymore in 2024, turnover has marginally decreased by 4.5% from £8.6m to £8.2m. 
In order to mitigate the adverse effects of those challenging trading conditions, the company has implemented a comprehensive programme of measures aimed at rationalising commercial offerings, discretionary spend and at improving efficiencies. As a result, not only has the gross profit margin increased from 58.1% to 61.5%, but the gross margin also reached £5.02m in 2024, which was £54k higher than the 2023 gross margin of £4.97m.
Overall, the company made a loss before tax of £452k (2023: £358k loss). 
Given the challenging context in which the company has been operating, the directors believe that this is a satisfactory performance. 
Net assets increased from £5.78m to £6.42m and at the year end the company held £963k in cash in the bank and remains financially secure.
No dividends were paid in 2024 or 2023. 


This report was approved by the board on 7 March 2025 and signed on its behalf.



M Welsh
Director

Page 2

 
GUINOT - MARY COHR UK LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments 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 Company 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 to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The loss for the year, after taxation, amounted to £452,470 (2023 - loss £295,140).

Directors

The directors who served during the year were:

M Welsh 
J D D Mondin 

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Page 3

 
GUINOT - MARY COHR UK LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Auditors

The auditorsFLB Audit LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 7 March 2025 and signed on its behalf.
 





M Welsh
Director

Page 4

 
GUINOT - MARY COHR UK LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GUINOT - MARY COHR UK LIMITED
 

Opinion


We have audited the financial statements of Guinot - Mary Cohr UK Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of cash flows, the Statement of changes in equity and the related notes, including a summary of significant accounting policiesThe 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).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


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 Company 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.


Conclusions relating to going concern


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 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.


Page 5

 
GUINOT - MARY COHR UK LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GUINOT - MARY COHR UK LIMITED (CONTINUED)


Other information


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 ReportOur 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.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the 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 Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 6

 
GUINOT - MARY COHR UK LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GUINOT - MARY COHR UK LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

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 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:
obtaining an understanding of the entity’s risk assessment process, including the risk of fraud;
testing significant transactions, in particular the evaluation of the business rationale for any which appear unusual or outside the company’s normal course of business;
evaluating the assumptions and judgements used by management within significant accounting estimates and assessing if these indicate evidence of management bias;
evaluating the consistency of selected amounts or other items presented in the other information with the financial statements;
requesting a reconciliation of amounts within the other information and the financial statements from management; comparing items in the reconciliation to the financial statements and the other information, and checking the mathematically accuracy of the reconciliation and;
communicating relevant matters to all members of the audit team to ensure they understood the risks specific to Guinot-Mary Cohr UK Limited and the audit procedures planned to mitigate these.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


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.


Use of our 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 2006Our 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.


Page 7

 
GUINOT - MARY COHR UK LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GUINOT - MARY COHR UK LIMITED (CONTINUED)





Jacqui Williams FCA (Senior statutory auditor)
  
for and on behalf of
FLB Audit LLP
 
Chartered Accountants
Statutory Auditors
  
1010 Eskdale Road
Winnersh Triangle
Wokingham
United Kingdom
RG41 5TS

7 March 2025
Page 8

 
GUINOT - MARY COHR UK LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
8,164,443
8,554,268

Cost of sales
  
(3,142,296)
(3,586,272)

Gross profit
  
5,022,147
4,967,996

Distribution costs
  
(939,232)
(990,447)

Administrative expenses
  
(4,519,656)
(4,279,867)

Operating loss
 5 
(436,741)
(302,318)

Interest receivable and similar income
 9 
58,985
33,545

Interest payable and similar expenses
 10 
(74,714)
(88,742)

Loss before tax
  
(452,470)
(357,515)

Tax on loss
 11 
-
62,375

Loss for the financial year
  
(452,470)
(295,140)

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 15 to 35 form part of these financial statements.

Page 9

 
GUINOT - MARY COHR UK LIMITED
REGISTERED NUMBER: 01074674

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 12 
413,906
448,166

Tangible assets
 13 
3,267,309
3,440,706

Investments
 14 
75
75

  
3,681,290
3,888,947

Current assets
  

Stocks
 15 
2,217,327
2,226,499

Debtors: amounts falling due after more than one year
 16 
591,457
780,759

Debtors: amounts falling due within one year
 16 
1,601,452
1,729,114

Cash at bank and in hand
 18 
962,754
696,850

  
5,372,990
5,433,222

Creditors: amounts falling due within one year
 19 
(1,629,262)
(1,935,979)

Net current assets
  
 
 
3,743,728
 
 
3,497,243

Total assets less current liabilities
  
7,425,018
7,386,190

Creditors: amounts falling due after more than one year
 20 
(1,003,665)
(1,604,437)

  

Net assets
  
6,421,353
5,781,753


Capital and reserves
  

Called up share capital 
 24 
2,401,856
1,309,786

Share premium account
 25 
881,453
881,453

Profit and loss account
 25 
3,138,044
3,590,514

  
6,421,353
5,781,753


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 March 2025.




M Welsh
Director

The notes on pages 15 to 35 form part of these financial statements.

Page 10

 
GUINOT - MARY COHR UK LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2023
1,000
881,453
3,885,654
4,768,107


Comprehensive income for the year

Loss for the year
-
-
(295,140)
(295,140)
Total comprehensive income for the year
-
-
(295,140)
(295,140)


Contributions by and distributions to owners

Shares issued during the year
1,308,786
-
-
1,308,786


Total transactions with owners
1,308,786
-
-
1,308,786



At 1 January 2024
1,309,786
881,453
3,590,514
5,781,753


Comprehensive income for the year

Loss for the year
-
-
(452,470)
(452,470)
Total comprehensive income for the year
-
-
(452,470)
(452,470)


Contributions by and distributions to owners

Shares issued during the year
1,092,070
-
-
1,092,070


Total transactions with owners
1,092,070
-
-
1,092,070


At 31 December 2024
2,401,856
881,453
3,138,044
6,421,353


The notes on pages 15 to 35 form part of these financial statements.

Page 11

 
GUINOT - MARY COHR UK LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
£
£

Cash flows from operating activities

Loss for the financial year
(452,470)
(295,140)

Adjustments for:

Amortisation of intangible assets
65,020
58,764

Depreciation of tangible assets
218,817
255,301

Loss on disposal of tangible assets
50
-

Interest paid
74,714
88,742

Interest received
(58,985)
(33,545)

Taxation charge
-
(62,375)

Decrease/(increase) in stocks
9,172
(285,293)

Decrease/(increase) in debtors
316,964
(616,729)

(Decrease) in creditors
(134,327)
(280,799)

(Decrease) in amounts owed to groups
(621,673)
(331,448)

Net cash generated from operating activities

(582,718)
(1,502,522)


Cash flows from investing activities

Purchase of intangible fixed assets
(30,760)
(188,238)

Purchase of tangible fixed assets
(45,960)
(24,809)

Sale of tangible fixed assets
490
-

Interest received
58,985
33,545

Net cash from investing activities

(17,245)
(179,502)
Page 12

 
GUINOT - MARY COHR UK LIMITED
 

STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024


2024
2023

£
£



Cash flows from financing activities

Issue of ordinary shares
1,092,070
1,308,786

Repayment of loans
(151,489)
(147,715)

Interest paid
(74,714)
(88,742)

Net cash used in financing activities
865,867
1,072,329

Net increase/(decrease) in cash and cash equivalents
265,904
(609,695)

Cash and cash equivalents at beginning of year
696,850
1,306,545

Cash and cash equivalents at the end of year
962,754
696,850


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
962,754
696,850

962,754
696,850


The notes on pages 15 to 35 form part of these financial statements.

Page 13

 
GUINOT - MARY COHR UK LIMITED
 

ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2024




At 1 January 2024
Cash flows
At 31 December 2024
£

£

£

Cash at bank and in hand

696,850

265,904

962,754

Debt due after 1 year

(247,688)

155,208

(92,480)

Debt due within 1 year

(151,611)

(3,719)

(155,330)


297,551
417,393
714,944

The notes on pages 15 to 35 form part of these financial statements.

Page 14

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Guinot - Mary Cohr UK Limited is a private company limited by shares. The company was incorporated in the United Kingdom and is registered in England and Wales. The company's registered office is: The Clock House, High Street, Ascot, Berkshire, United Kingdom, SL5 7HU.

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 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 (see note 3).

The Company is the parent undertaking of a dormant subsidiary and as such is not required by s.405 of the Companies Act 2006 to prepare consolidated financial statements on the grounds that its inclusion is not material for the purpose of giving a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have performed a going concern assessment for a period of 12 months from the date of approval of these financial statements which indicate that the company will have sufficient funding from its balance sheet reserves, banking facilities and its parent company. As a result the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.

Page 15

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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'.

 
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.

Rental income is recognised evenly over the life of the lease contract.
Franchise fees are recognised in-line with the franchise agreement.

Page 16

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Leased assets: the Company as lessor

Where assets leased to a third party give rights approximating to ownership (finance lease), the lessor recognises as a receivable an amount equal to the net investment in the lease i.e. the minimum lease payments receivable under the lease discounted at the interest rate implicit in the lease. This receivable is reduced as the lessee makes capital payments over the term of the lease.

A finance lease gives rise to two types of income: profit or loss equivalent to the profit or loss resulting from outright sale of the asset being leased, at normal selling prices, reflecting any applicable discounts, and finance income over the lease term.

 
2.7

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
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.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

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.

Page 17

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

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.

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.12

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Development expenditure
-
10
years

Page 18

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.13

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, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%-5% straight line
L/Term Leasehold Property
-
over the period of the lease
Plant and machinery
-
4-10 years straight line
Fixtures and fittings
-
10% straight line
Other fixed assets
-
5-6 years straight line

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.

 
2.14

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.

 
2.15

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

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.

 
2.16

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.

Page 19

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.17

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.

In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

 
2.18

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.

 
2.19

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors 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.
Page 20

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.19
Financial instruments (continued)


Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

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 instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Page 21

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.19
Financial instruments (continued)


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 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.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However the nature of estimation means that the actual outcomes could differ from those estimates. The following judgements have had the most significant effect on amounts recognised in the financial statements:
Depreciation and amortisation
Tangible fixed assets are depreciated over their useful economic lives. Intangible fixed assets are also amortised over their useful economic lives. The actual lives of the assets are assessed annually and may vary depending on a range of factors. These factors include product life cycles, maintenance programs of the assets, as well as technological innovation.
The applicable accounting policies detailing these areas are shown in notes 2.12 and 2.13.
Stock provision
The company has recognised a provision for stock. The judgements, estimates and associated assumptions necessary to calculate this provision are based on group policy, historical experience and other reasonable factors.

Page 22

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Retail sales of beauty products
7,626,578
8,017,905

Rental machine income
25,827
46,161

Franchise income
512,038
490,202

8,164,443
8,554,268


Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
6,940,837
7,316,266

Rest of Europe
1,223,606
1,238,002

8,164,443
8,554,268


All turnover arose within the United Kingdom and the Republic of Ireland.


5.


Operating loss

The operating loss is stated after charging:

2024
2023
£
£

Depreciation of tangible fixed assets
218,817
255,301

Amortisation of intangible fixed assets, including goodwill
65,020
58,764

Exchange differences
(8,345)
(7,647)

Defined contribution pension cost
205,095
195,372


6.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
20,600
19,740

Page 23

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Employees

Staff costs, including directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
2,611,288
2,421,603

Social security costs
305,184
273,775

Cost of defined contribution scheme
205,095
195,372

3,121,567
2,890,750


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


        2024
        2023
            No.
            No.







Management
2
2



Warehouse
7
7



Administration
10
10



Sales and marketing
48
44



Ireland
2
2

69
65


8.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
153,079
134,306

Company contributions to defined contribution pension schemes
19,575
18,468

172,654
152,774


During the year retirement benefits were accruing to 1 director (2023 - 1) in respect of defined contribution pension schemes.

Page 24

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Interest receivable

2024
2023
£
£


Other interest receivable
58,985
33,545

58,985
33,545


10.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
24,870
25,922

Loans from group undertakings
49,844
62,820

74,714
88,742


11.


Taxation


2024
2023
£
£



Total current tax
-
-

Deferred tax


Unrelieved tax losses carried forward
-
(62,375)

Total deferred tax
-
(62,375)


Tax on loss
-
(62,375)
Page 25

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
11.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 23.5%). The differences are explained below:

2024
2023
£
£


Loss on ordinary activities before tax
(452,470)
(357,515)


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.5%)
(113,118)
(84,016)

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
32,403
33,955

Tax losses not recognised
80,715
-

Tax losses recognised as an asset for the first time
-
(12,314)

Total tax charge for the year
-
(62,375)


Factors that may affect future tax charges

The company has tax losses of £5,111,829 (2023: £4,956,766) carried forward for use against future profits. A deferred tax asset of £1,192,247 (2023: £1,089,493) has not been recognised in relation to the unutilised tax losses.

Page 26

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Intangible assets




Development expenditure

£



Cost


At 1 January 2024
630,288


Additions
30,760



At 31 December 2024

661,048



Amortisation


At 1 January 2024
182,122


Charge for the year on owned assets
65,020



At 31 December 2024

247,142



Net book value



At 31 December 2024
413,906



At 31 December 2023
448,166



Page 27
 


 
GUINOT - MARY COHR UK LIMITED


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


13.


Tangible fixed assets






Freehold property
Long-term leasehold property
Plant and machinery
Fixtures and fittings
Other fixed assets
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2024
4,820,938
143,615
357,578
715,843
395,295
6,433,269


Additions
-
-
21,872
24,088
-
45,960


Disposals
-
-
(79,614)
-
(247,880)
(327,494)



At 31 December 2024

4,820,938
143,615
299,836
739,931
147,415
6,151,735



Depreciation


At 1 January 2024
1,715,908
99,012
288,400
493,948
395,295
2,992,563


Charge for the year on owned assets
138,934
8,031
30,939
40,913
-
218,817


Disposals
-
-
(79,074)
-
(247,880)
(326,954)



At 31 December 2024

1,854,842
107,043
240,265
534,861
147,415
2,884,426



Net book value



At 31 December 2024
2,966,096
36,572
59,571
205,070
-
3,267,309



At 31 December 2023
3,105,030
44,603
69,178
221,895
-
3,440,706

Page 28
 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

           13.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
2,966,096
3,105,030

Long leasehold
36,572
44,603

3,002,668
3,149,633



14.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
75



At 31 December 2024
75





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

GBP (Westmead) Management Ltd
Ordinary
75%

The aggregate of the share capital and reserves as at 31 December 2024 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

GBP (Westmead) Management Ltd
100

The subsidiary was dormant during the year under review. As such, the company made neither a profit nor a loss.

Page 29

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

15.


Stocks

2024
2023
£
£

Finished goods and goods for resale
2,217,327
2,226,499

2,217,327
2,226,499


The carrying value of stocks are stated net of impairment losses totalling £225,709 (2023 - £251,286). Impairment losses totalling £(25,577) (2023 - £103,286) were recognised in profit and loss.


16.


Debtors

2024
2023
£
£

Due after more than one year

Trade debtors
529,082
718,384

Deferred tax asset
62,375
62,375

591,457
780,759


2024
2023
£
£

Due within one year

Trade debtors
1,364,438
1,511,992

Other debtors
9,803
7,151

Prepayments and accrued income
227,211
209,971

1,601,452
1,729,114


Page 30

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

17.


Finance Lease (Lessor)

2024 Gross investment in the lease
Unearned finance income
Net investment in the lease
2023 Gross investment in the lease
Unearned finance income
Net investment in the lease
        £
        £
        £
        £
        £
        £

Within one year

486,639

56,574

430,066
 
548,823
 
55,976

492,847

Between 1-5 years

583,901

54,819

529,081
 
718,384
 
61,087

657,297


1,070,540

111,393

959,147
 
1,267,207
 
117,063

1,150,144


The company leases equipment under finance leases. These transactions give the lessee rights approximating to ownership and therefore the company recognises a receivable amount equal to the net investment in the lease i.e. the minimum lease payments receivable under the lease discounted at the interest rate implicit in the lease. This receivable is reduced as the lessee makes capital payments over the term of the lease. Unearned finance income is receivable over the lease term. The gross investment in the lease is the total amount receivable over the lease term including the net investment and finance income.


18.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
962,754
696,850

962,754
696,850



19.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
155,330
151,611

Trade creditors
127,996
94,932

Amounts owed to group undertakings
793,513
969,622

Other taxation and social security
220,389
244,468

Other creditors
61,277
53,903

Accruals and deferred income
270,757
421,443

1,629,262
1,935,979


Page 31

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

20.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
92,480
247,688

Amounts owed to group undertakings
911,185
1,356,749

1,003,665
1,604,437


The following liabilities were secured:

2024
2023
£
£



Bank loans due within one year
155,330
151,611

Bank loans due after more than one year
92,480
247,688

247,810
399,299

Details of security provided:

Liabilities of £247,810 (2023: £399,299) are secured by a fixed and floating charge over the assets of the company.

The amounts owed to group due after one year are being repaid by monthly payments of £26,488 and €15,501. Interest on the outstanding balance is charged monthly at annual interest rates of 2.57% - 3.3%.

Page 32

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

21.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
155,330
151,611


155,330
151,611

Amounts falling due 1-2 years

Bank loans
92,480
155,477


92,480
155,477

Amounts falling due 2-5 years

Bank loans
-
92,211


-
92,211


247,810
399,299



22.


Financial instruments

As restated
2024
2023
£
£

Financial assets


Financial assets measured at amortised cost
3,024,703
3,127,672


Financial liabilities


Financial liabilities measured at amortised cost
(2,386,951)
(3,256,027)


Financial assets measured at amortised cost comprise of cash, trade debtors and other debtors.


Other financial liabilities measured at amortised cost comprise of bank loans, trade creditors, amounts owed to group undertakings, accruals, and other creditors.

Page 33

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

23.


Deferred taxation




2024
2023


£

£






At beginning of year
62,375
-


Charged to profit or loss
-
62,375



At end of year
62,375
62,375

2024
2023
£
£


Accelerated capital allowances
(43,626)
(91,328)

Tax losses carried forward
85,774
149,698

Other timing differences
20,227
4,005

62,375
62,375


24.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2,401,856 (2023 - 1,309,786) Ordinary shares of £1.00 each
2,401,856
1,309,786


During the period, 1,092,070 Ordinary shares were issued for an aggregate consideration of £1,092,070.


25.


Reserves

Share premium account

This reserve records the amount above the nominal value received for a share sold, less transaction costs.

Profit and loss account

Includes all current and prior period retained profits and losses.

Page 34

 
GUINOT - MARY COHR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

26.


Pension commitments

The company operates a defined contribution 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 £205,095 (2023: £195,372). Contributions totalling £25,079 (2023: £22,505) were payable to the fund at the balance sheet date and are included in other creditors.


27.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
197,319
167,515

Later than 1 year and not later than 5 years
417,711
400,835

Later than 5 years
12,038
117,610

627,068
685,960


28.


Related party transactions

During the year, purchases of £2,732,811 (2023: £3,590,046) were made from Guinot SAS, the parent company. At the year end, included in amounts owed to group undertakings, is the amount of £1,693,291 (2023: £2,315,601). This amount includes an intercompany loan on which a market rate of interest is applied. The amount has been split as follows; £346,397 (2023: £531,264) amounts due to group undertakings falling due within one year in relation to trade invoices, £435,708 (2023: £427,588) due to group undertakings falling due within one year in relation to the loan and £911,185 (2023: £1,356,749) due to group undertakings falling due in more than one year.
During the year, purchases of £56,044
 (2023: £67,926) were made from Mary Cohr SAS, a subsidiary of Guinot SAS.
At the year end, included in amounts owed to group undertakings, is the amount of £11,407 
(2023: £10,770) owed to Mary Cohr SAS, a subsidiary of Guinot SAS.


29.


Controlling party

Guinot SAS, incorporated in France, prepares group consolidated accounts, which include the accounts of Guinot-Mary Cohr UK Limited. Copies can be obtained from its registered office at 120 Avenue Charles De Gaulle - SC 80069 92522 Neuilly Sur Seine Cedex - France.
Guinot SAS is Guinot - Mary Cohr UK Limited's immediate parent company and the ultimate controlling party is Dr J D D Mondin as defined under FRS 102.

 
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