8 8 Hawick Cashmere Retail Holdings Limited SC365126 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of a Holding Company. Digita Accounts Production Advanced 6.30.9574.0 true false true true true true SC365126 2024-01-01 2024-12-31 SC365126 2024-12-31 SC365126 bus:OrdinaryShareClass1 2024-12-31 SC365126 core:CapitalRedemptionReserve 2024-12-31 SC365126 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC365126 core:ShareCapital 2024-12-31 SC365126 core:CurrentFinancialInstruments 2024-12-31 SC365126 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 SC365126 core:Non-currentFinancialInstruments 2024-12-31 SC365126 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 SC365126 bus:SmallEntities 2024-01-01 2024-12-31 SC365126 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 SC365126 bus:FilletedAccounts 2024-01-01 2024-12-31 SC365126 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 SC365126 bus:RegisteredOffice 2024-01-01 2024-12-31 SC365126 bus:Chairman 2024-01-01 2024-12-31 SC365126 bus:Director1 2024-01-01 2024-12-31 SC365126 bus:Director10 2024-01-01 2024-12-31 SC365126 bus:Director2 2024-01-01 2024-12-31 SC365126 bus:Director3 2024-01-01 2024-12-31 SC365126 bus:Director4 2024-01-01 2024-12-31 SC365126 bus:Director6 2024-01-01 2024-12-31 SC365126 bus:Director7 2024-01-01 2024-12-31 SC365126 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 SC365126 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC365126 bus:Agent1 2024-01-01 2024-12-31 SC365126 core:OtherRelatedParties 2024-01-01 2024-12-31 SC365126 core:Subsidiary1 2024-01-01 2024-12-31 SC365126 core:Subsidiary1 1 2024-01-01 2024-12-31 SC365126 core:Subsidiary1 countries:Germany 2024-01-01 2024-12-31 SC365126 core:Subsidiary2 2024-01-01 2024-12-31 SC365126 core:Subsidiary2 1 2024-01-01 2024-12-31 SC365126 core:Subsidiary2 countries:Japan 2024-01-01 2024-12-31 SC365126 core:Subsidiary3 2024-01-01 2024-12-31 SC365126 core:Subsidiary3 1 2024-01-01 2024-12-31 SC365126 core:Subsidiary3 countries:Switzerland 2024-01-01 2024-12-31 SC365126 core:Subsidiary4 2024-01-01 2024-12-31 SC365126 core:Subsidiary4 1 2024-01-01 2024-12-31 SC365126 core:Subsidiary4 countries:Italy 2024-01-01 2024-12-31 SC365126 countries:Scotland 2024-01-01 2024-12-31 SC365126 core:CostValuation 2023-12-31 SC365126 2023-01-01 2023-12-31 SC365126 2023-12-31 SC365126 bus:OrdinaryShareClass1 2023-12-31 SC365126 core:CapitalRedemptionReserve 2023-12-31 SC365126 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC365126 core:ShareCapital 2023-12-31 SC365126 core:CurrentFinancialInstruments 2023-12-31 SC365126 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 SC365126 core:Non-currentFinancialInstruments 2023-12-31 SC365126 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 SC365126 core:Subsidiary1 1 2023-01-01 2023-12-31 SC365126 core:Subsidiary2 1 2023-01-01 2023-12-31 SC365126 core:Subsidiary3 1 2023-01-01 2023-12-31 SC365126 core:Subsidiary4 1 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: SC365126

Hawick Cashmere Retail Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Hawick Cashmere Retail Holdings Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Hawick Cashmere Retail Holdings Limited

Company Information

Chairman

J A Thomson

Directors

Lord C R Sanderson of Bowden

C D R Sanderson

G W Scott

E R Thomson

M D Thomson

P Thomson

W D Sanderson

Registered office

Trinity Mills
Duke Street
Hawick
TD9 9QA

Accountants

Deans Accountants And Business Advisors Ltd
Chartered Accountants and Business Advisors27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

 

DEANS

Chartered Accountants

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hawick Cashmere Retail Holdings Limited for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hawick Cashmere Retail Holdings Limited for the year ended 31 December 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland (ICAS), we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/ethics/icas-code-of-ethics.

This report is made solely to the Board of Directors of Hawick Cashmere Retail Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Hawick Cashmere Retail Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Hawick Cashmere Retail Holdings Limited, as a body, in this report in accordance with ICAS guidance (www.icas.com/accountsprep/guidance). To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hawick Cashmere Retail Holdings Limited and its Board of Directors as a body for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the accounts of Hawick Cashmere Retail Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Deans Accountants And Business Advisors Ltd
Chartered Accountants and Business Advisors
27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

16 May 2025

 

Hawick Cashmere Retail Holdings Limited

(Registration number: SC365126)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

950,004

950,004

Current assets

 

Debtors

5

31,227

227

Cash at bank and in hand

 

4,023

1,136

 

35,250

1,363

Total assets less current liabilities

 

985,254

951,367

Creditors: Amounts falling due after more than one year

6

(468,529)

(450,004)

Net assets

 

516,725

501,363

Capital and reserves

 

Called up share capital

7

485,273

485,273

Capital redemption reserve

14,727

14,727

Retained earnings

16,725

1,363

Shareholders' funds

 

516,725

501,363

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 May 2025 and signed on its behalf by:
 

.........................................
C D R Sanderson
Director

.........................................
M D Thomson
Director

 

Hawick Cashmere Retail Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Trinity Mills
Duke Street
Hawick
TD9 9QA

These financial statements were authorised for issue by the Board on 16 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£) and rounded to the nearest £1.

Finance income and costs policy

Dividend income is recognised when the right to receive payment is established.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Hawick Cashmere Retail Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of it’s liabilities.
 Recognition and measurement
Where shares are issued, any component that creates, a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expenses in the profit and loss account.
 Impairment
At the end of each reporting period financial instruments measured at fair value are assessed for objective evidence of impairment. The impairment loss is recognised in the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 8).

4

Investments

2024
£

2023
£

Investments in subsidiaries

950,004

950,004

 

Hawick Cashmere Retail Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Subsidiaries

£

Cost or valuation

At 1 January 2024

950,004

Provision

Carrying amount

At 31 December 2024

950,004

At 31 December 2023

950,004

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Hawick Cashmere GmBH

Germany

ordinary

100%

100%

Hawick Cashmere Japan

Japan

ordinary

100%

100%

Hawick Cashmere AG

Switzerland

ordinary

100%

100%

Hawick Cashmere SRL

Italy

ordinary

100%

100%

Subsidiary undertakings

Hawick Cashmere GmBH

The principal activity of Hawick Cashmere GmBH is retail.

Hawick Cashmere Japan

The principal activity of Hawick Cashmere Japan is retail.

Hawick Cashmere AG

The principal activity of Hawick Cashmere AG is retail.

Hawick Cashmere SRL

The principal activity of Hawick Cashmere SRL is retail.

5

Debtors

2024
£

2023
£

Other debtors

31,227

227

31,227

227

 

Hawick Cashmere Retail Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

450,004

450,004

Other non-current financial liabilities

 

18,525

-

 

468,529

450,004

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

485,273

485,273

485,273

485,273

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

450,004

450,004

9

Related party transactions

Summary of transactions with other related parties

The Hawick Cashmere Company Limited , a company registered in Scotland, is owned by the same shareholders as Hawick Cashmere Retail Holdings Limited and its board are directors of Hawick Cashmere Retail Holdings Limited.
Hawick Cashmere Retail Holdings Limited and The Hawick Cashmere Company Limited have a cross guarantee arrangement in favour of HSBC in respect of liabilities of each company.