Company Registration No. 01377041 (England and Wales)
Manutan Limited
Annual report and financial statements
for the year ended 30 September 2024
Manutan Limited
Company information
Directors
P Brial
X Guichard
J Metcalfe
Secretary
P Brial
Company number
01377041
Registered office
Blackmoor Road
Ebblake Industrial Estate
Verwood
Dorset
BH31 6AT
Independent auditor
Forvis Mazars LLP
5th Floor
Merck House
Seldown Lane
Poole
Dorset
BH15 1TW
Bankers
HSBC Bank plc
62 George White Street
Cabot Circus
Bristol
BS1 3BA
Solicitors
Moore Blatch LLP
11 Avenue
Southampton
SO17 1XF
Manutan Limited
Contents
Page
Strategic report
1
Directors' report
2 - 3
Directors' responsibilities statement
4
Independent auditor's report
5 - 8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Notes to the financial statements
12 - 17
Manutan Limited
Strategic report
For the year ended 30 September 2024
1
The directors present the strategic report for the year ended 30 September 2024.
Review of the business
The company’s principal activity during the year was that of a holding company.
The results for the year are set out on page 9.
The key financial performance measures for the business for years ended 30 September 2024, 30 September 2023 and 30 September 2022 are as follows:
Performance Indicator 2024 2023 2022
Retained earnings £3,771,000 £3,771,000 £3,771,000
We remain confident that we will improve on our current level of performance within the trading subsidiary in the coming financial year, despite the external pressures from both the wider economy and the competitive markets in which we operate.
Principal risks and uncertainties
The directors consider the principal risks affecting the business are as follows:
Liquidity and cash flow risk
The company operates a range of policies to ensure there is sufficient liquidity and cash to meet its liabilities as they fall due. Cash flow forecasts are undertaken to monitor the cash position and determine the liquidity of the company.
Future developments
The company intends to continue in its operations as a holding company for its main subsidiary Manutan UK Limited
J Metcalfe
Director
21 February 2025
Manutan Limited
Directors' report
For the year ended 30 September 2024
2
The directors present their annual report and financial statements for the year ended 30 September 2024.
Principal activities
The company's principal activity during the year was that of a holding company.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
P Brial
X Guichard
J Metcalfe
Results and dividends
The profit for the year, after taxation, amounted to £728,720 (2023 - £626,527).
Ordinary dividends were paid amounting to £728,720 (2023 - £626,527). The directors do not recommend payment of a further dividend.
Post reporting date events
There have been no significant events affecting the company since the year end.
Auditor
The auditors, Forvis Mazars LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
Statement of disclosure to auditor
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.
Going concern
In determining whether the company’s financial statements can be prepared on a going concern basis, the directors considered the business activities, together with the factors likely to affect its future development, performance and position; these are set out in the Strategic Report.
The company remains a holding company of Manutan UK Limited and therefore a cashflow forecast is not prepared by the directors. The company meets its day to day working capital requirements through existing cash resources, including access to Manutan Group cash pooling funds. The business forecasts and projections, taking account of reasonably possible changes in trading performance show that the company should be able to operate within the level of its current cash resources, without requirement for external cash funding.
As at the date of this report, the directors have a reasonable expectation that the Company have adequate resources to continue in business for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Matters covered in the strategic report
The mandatory disclosures in relation to the principal risks and uncertainties and the future developments of the company are considered by the directors to be of strategic importance. These have therefore been included in the Strategic Report.
Manutan Limited
Directors' report (continued)
For the year ended 30 September 2024
3
On behalf of the board
J Metcalfe
Director
21 February 2025
Manutan Limited
Directors' responsibilities statement
For the year ended 30 September 2024
4
The directors are responsible for preparing the annual 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
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 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 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Manutan Limited
Independent auditor's report
To the members of Manutan Limited
5
Opinion
We have audited the financial statements of Manutan Limited (the ‘company’) for the year ended 30 September 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, 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 FRS 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 30 September 2024 and of its profit 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.
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 “Auditor’s 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 UK, including the FRC’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.
The other information comprises the information included in annual report, other than the financial statements and our auditor’s 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.
Manutan Limited
Independent auditor's report (continued)
To the members of Manutan Limited
6
Opinions 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 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 6, 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.
Manutan Limited
Independent auditor's report (continued)
To the members of Manutan Limited
7
Auditor's 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 auditor’s 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 the financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
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.
Based on our understanding of the company and its industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: employment regulation, health and safety regulation anti-money laundering regulation.
To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:
Inquiring of management and, where appropriate, those charged with governance, as to whether the company is in compliance with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations;
Inspecting correspondence, if any, with relevant licensing or regulatory authorities;
Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-compliance throughout our audit; and
Considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud.
We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as tax legislation, pension legislation, the Companies Act 2006.
In addition, we evaluated the directors’ and management’s incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management override of controls, and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to revenue recognition (which we pinpointed to the cut off assertion) and significant one-off or unusual transactions.
Our audit procedures in relation to fraud included but were not limited to:
Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud;
Gaining an understanding of the internal controls established to mitigate risks related to fraud;
Discussing amongst the engagement team the risks of fraud; and
Addressing the risks of fraud through management override of controls by performing journal entry testing.
There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.
Manutan Limited
Independent auditor's report (continued)
To the members of Manutan Limited
8
In addition, we evaluated the directors’ and management’s incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management override of controls, and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates and significant one-off or unusual transactions.
Our audit procedures in relation to fraud included but were not limited to:
Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud;
Gaining an understanding of the internal controls established to mitigate risks related to fraud;
Discussing amongst the engagement team the risks of fraud; and
Addressing the risks of fraud through management override of controls by performing journal entry testing.
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 auditor’s 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 auditor’s 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
Julie Breakell (Senior statutory auditor)
For and on behalf of Forvis Mazars LLP
25 February 2025
Chartered Accountants and Statutory Auditor
5th Floor
Merck House
Seldown Lane
Poole
Dorset
BH15 1TW
Manutan Limited
Statement of comprehensive income
For the year ended 30 September 2024
9
2024
2023
Notes
£000
£000
Income from shares in group undertakings
5
729
627
Profit before taxation
729
627
Tax on profit
6
Profit for the financial year
729
627
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 12 to 17 form part of these financial statements.
Manutan Limited
Balance sheet
As at 30 September 2024
10
2024
2023
Notes
£000
£000
£000
£000
Fixed assets
Investments
8
9,595
9,595
Current assets
Debtors
10
18
18
Creditors: amounts falling due within one year
11
(17)
(17)
Net current assets
1
1
Total assets less current liabilities
9,596
9,596
Capital and reserves
Called up share capital
12
5,825
5,825
Profit and loss reserves
13
3,771
3,771
Total equity
9,596
9,596
The financial statements were approved by the board of directors and authorised for issue on 21 February 2025 and are signed on its behalf by:
J Metcalfe
Director
Company Registration No. 01377041
The notes on pages 12 to 17 form part of these financial statements.
Manutan Limited
Statement of changes in equity
For the year ended 30 September 2024
11
Share capital
Profit and loss reserves
Total
Notes
£000
£000
£000
Balance at 1 October 2022
5,825
3,771
9,596
Year ended 30 September 2023:
Profit and total comprehensive income for the year
-
627
627
Dividends
7
-
(627)
(627)
Balance at 30 September 2023
5,825
3,771
9,596
Year ended 30 September 2024:
Profit and total comprehensive income for the year
-
729
729
Dividends
7
-
(729)
(729)
Balance at 30 September 2024
5,825
3,771
9,596
Manutan Limited
Notes to the financial statements
For the year ended 30 September 2024
12
1
Accounting policies
Company information
Manutan Limited is a private company limited by shares incorporated in England and Wales. The registered office is Blackmoor Road, Ebblake Industrial Estate, Verwood, Dorset, BH31 6AT.
1.1
Accounting convention
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 judgement in applying the company's accounting policies (see note 2).
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 4 Statement of Financial Position paragraph 4.12(a)(iv);
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.41(b), 11.41(c), 11.41(e), 11.41(f), 11.42, 11.44 to 11.45, 11.47, 11.48(а)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Manutan Holdings SAS as at 30 September 2024 and these financial statements may be obtained from Manutan Holdings SAS, ZAC du Parc des Tulipes, Avenue du 21eme Siede, 95500 Gonesse, France.
The company is a parent company that is also a subsidiary included in the consolidated financial statements of its immediate undertaking established under the law of an EEA state and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
1.2
Going concern
In determining whether the company’s financial statements can be prepared on a going concern basis, thetrue directors considered the business activities, together with the factors likely to affect its future development, performance and position; these are set out in the Strategic Report.
The company remains a holding company of Manutan UK Limited and therefore a cashflow forecast is not prepared by the directors. The company meets its day to day working capital requirements through existing cash resources, including access to Manutan Group cash pooling funds. The business forecasts and projections, taking account of reasonably possible changes in trading performance show that the company should be able to operate within the level of its current cash resources, without requirement for external cash funding.
As at the date of this report, the directors have a reasonable expectation that the Company have adequate resources to continue in business for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Manutan Limited
Notes to the financial statements (continued)
For the year ended 30 September 2024
1
Accounting policies (continued)
13
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
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 debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Manutan Limited
Notes to the financial statements (continued)
For the year ended 30 September 2024
1
Accounting policies (continued)
14
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of 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 deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Manutan Limited
Notes to the financial statements (continued)
For the year ended 30 September 2024
1
Accounting policies (continued)
15
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Tax is recognised in the Statement of comprehensive income, 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.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Critical accounting judgements and key sources of estimation uncertainty
These financial statements do not include any significant items requiring judgement or estimates by management.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Management
3
3
4
Auditor's remuneration
Auditors remuneration is paid by the company's subsidiary Manutan UK Limited.
Manutan Limited
Notes to the financial statements (continued)
For the year ended 30 September 2024
16
5
Income from shares in group undertakings
2024
2023
£000
£000
Income from fixed asset investments
Income from participating interests - associates
729
627
7
Dividends
2024
2023
£000
£000
Final paid
729
627
8
Fixed asset investments
2024
2023
Notes
£000
£000
Investments in subsidiaries
9
9,595
9,595
9
Subsidiaries
Details of the company's subsidiaries at 30 September 2024 are as follows:
Name of undertaking
Registered office
Nature of business
Class of shares held
% Held
Direct
Manutan UK Limited
United Kingdom
The sale of C-Class product purchases increasingly though web channels such as paper mailings and email campaigns
Ordinary
100
10
Debtors
2024
2023
Amounts falling due within one year:
£000
£000
Other debtors
18
18
Manutan Limited
Notes to the financial statements (continued)
For the year ended 30 September 2024
17
11
Creditors: amounts falling due within one year
2024
2023
£000
£000
Accruals and deferred income
17
17
The company is party to an unlimited bank cross guarantee with the UK subsidiary undertakings of Manutan International SA, incorporated in France. At 30 September 2024 the net borrowings by these companies under this arrangement amounted to £Nil (2023: £Nil).
12
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£000
£000
Issued and fully paid
Ordinary shares of £1 each
5,825,000
5,825,000
5,825
5,825
13
Profit and loss reserves
The Profit & Loss account includes all current and prior period retained profits and losses.
14
Ultimate controlling party
The company is controlled by its ultimate controlling party Manutan Holdings SAS, an unquoted company registered in France.
The company is a subsidiary of Manutan International SA. The largest group in which the results of the company are consolidated is that headed by Manutan Holdings SAS, incorporated in France. The consolidated accounts of this group are available to the public and may be obtained from Manutan International SA, ZAC du Parc des Tulipes, Avenue du 21eme Siede, 95500 Gonesse, France.
15
Related party transactions
As a wholly owned subsidiary undertaking, the company has taken advantage of the exemption available under section 33 of FRS 102, and has not disclosed transaction with members of, or investees in the Manutan International Group.
2024-09-302023-10-01falseCCH SoftwareCCH Accounts Production 2024.210X GuichardJ MetcalfeJ MetcalfeP Brialfalsefalse013770412023-10-012024-09-3001377041bus:CompanySecretaryDirector12023-10-012024-09-3001377041bus:Director12023-10-012024-09-3001377041bus:Director22023-10-012024-09-3001377041bus:CompanySecretary12023-10-012024-09-3001377041bus:Director32023-10-012024-09-3001377041bus:RegisteredOffice2023-10-012024-09-3001377041bus:Agent12023-10-012024-09-30013770412024-09-30013770412022-10-012023-09-3001377041core:RetainedEarningsAccumulatedLosses2022-10-012023-09-3001377041core:RetainedEarningsAccumulatedLosses2023-10-012024-09-30013770412023-09-3001377041core:CurrentFinancialInstrumentscore:WithinOneYear2024-09-3001377041core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3001377041core:ShareCapital2024-09-3001377041core:ShareCapital2023-09-3001377041core:RetainedEarningsAccumulatedLosses2024-09-3001377041core:RetainedEarningsAccumulatedLosses2023-09-3001377041core:ShareCapital2022-09-3001377041core:RetainedEarningsAccumulatedLosses2022-09-30013770412022-09-3001377041core:Non-currentFinancialInstruments2024-09-3001377041core:Non-currentFinancialInstruments2023-09-3001377041core:CurrentFinancialInstruments2024-09-3001377041core:CurrentFinancialInstruments2023-09-3001377041bus:PrivateLimitedCompanyLtd2023-10-012024-09-3001377041bus:FRS1022023-10-012024-09-3001377041bus:Audited2023-10-012024-09-3001377041bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP