Registered number: 06997035
FOR THE PERIOD ENDED 31 DECEMBER 2024
KEEN & TOMS HOLDINGS LIMITED
COMPANY INFORMATION
KEEN & TOMS HOLDINGS LIMITED
CONTENTS
KEEN & TOMS HOLDINGS LIMITED
GROUP STRATEGIC REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2024
The directors present the Strategic Report for the 18-month period ended 31 December 2024.
Company overview
Keen & Toms Holdings Limited is the parent company of several entities (“the Group”) that collectively trade under the name Hypnos. Established in Buckinghamshire in 1904, the fifth-generation family-run business manufactures handcrafted, pocket spring beds and upholstery using natural and responsibly sourced materials. The Group supplies retail and hospitality clients in the UK and internationally, and has held a Royal Warrant since 1929.
As a pioneer in sustainable and ethical bed making, Hypnos is focused on delivering comfort with integrity for the well-being of people and the planet.
Hypnos is a proud partner of the Eden Project, holder of the Planet Mark and has been certified Carbon Neutral by Planet Mark since 2011.
Business review and future developments
Building a secure foundation for future growth
2024 was a significant year in the Group’s history, marking the 120th anniversary as well as the completion of a two-year change programme to place the business in the strongest possible position for its next centenary.
Initiated in 2022, Project Rightsize involved a comprehensive strategic review to refocus the business and develop capabilities to form a robust platform for long-term success. The Group invested £1.7m to achieve its strategic goals.
Key outcomes of the change programme include:
Company overview
Keen & Toms Holdings Limited is the parent company of several entities (“the Group”) that collectively trade under the name Hypnos. Established in Buckinghamshire in 1904, the fifth-generation family-run business manufactures handcrafted, pocket spring beds and upholstery using natural and responsibly sourced materials. The Group supplies retail and hospitality clients in the UK and internationally, and has held a Royal Warrant since 1929.
As a pioneer in sustainable and ethical bed making, Hypnos is focused on delivering comfort with integrity for the well-being of people and the planet.
Hypnos is a proud partner of the Eden Project, holder of the Planet Mark and has been certified Carbon Neutral by Planet Mark since 2011.
Business review and future developments
Building a secure foundation for future growth
2024 was a significant year in the Group’s history, marking the 120th anniversary as well as the completion of a two-year change programme to place the business in the strongest possible position for its next centenary.
Initiated in 2022, Project Rightsize involved a comprehensive strategic review to refocus the business and develop capabilities to form a robust platform for long-term success. The Group invested £1.7m to achieve its strategic goals.
Key outcomes of the change programme include:
∙New Board and leadership structure, aligned to company objectives.
∙Closure of the loss-leading venture into two-man furniture delivery services, including the exit of three operating sites.
∙Consolidation of Group buildings from six sites to one wholly owned facility, and headcount reduction from 452 to circa 331.
∙Refocused sales, finance and operations functions and processes, enhancing efficiency, productivity, service, and financial position.
∙Investment of circa £1m in new ERP infrastructure development to integrate workflows, enable consolidated data and improve reporting.
∙Appointment of a new transport and logistics partner, generating cost savings and supporting the Group’s CO2 reduction ambitions.
∙Along with international licencing and manufacturing partners.
Even during this period of significant change and against a backdrop of macroeconomic uncertainty, the business continued to launch innovative new products and maintained strong commercial relationships with retail and hospitality key accounts, as well as with independent retailers.
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KEEN & TOMS HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
The Group’s unwavering commitment to excellence, sustainability, and the finest British craftsmanship was recognised with the granting of a Royal Warrant by His Majesty King Charles III, adding to a proud history of supplying the Royal Households for almost a century.
The successful delivery of the change programme, coupled with the strength of the underlying business, is testament to the dedication of the Group’s skilled and committed people and the effectiveness of its empowered, ambitious, and engaged culture.
Looking ahead with confidence
Trading in the first 8 months of the 2025 financial year has been robust, with operating profits exceeding those recorded over the preceding 18 months. The strong cash generation is clear evidence of the business’ resilience and growth potential, which are supported by the new 5-year facility agreed in April 2025.
With firm foundations in place, the Board is confident that the Group is well positioned to achieve its strategic ambitions and deliver long-term, sustainable success.
The successful delivery of the change programme, coupled with the strength of the underlying business, is testament to the dedication of the Group’s skilled and committed people and the effectiveness of its empowered, ambitious, and engaged culture.
Looking ahead with confidence
Trading in the first 8 months of the 2025 financial year has been robust, with operating profits exceeding those recorded over the preceding 18 months. The strong cash generation is clear evidence of the business’ resilience and growth potential, which are supported by the new 5-year facility agreed in April 2025.
With firm foundations in place, the Board is confident that the Group is well positioned to achieve its strategic ambitions and deliver long-term, sustainable success.
Statement by the directors in performance of their statutory duties in accordance with s172(1) Companies Act 2006
In accordance with section 172 of the Companies Act 2006, each director acts in a way they consider, in good faith, would most likely promote the success of the group for the benefit of its members as a whole.
The Board ensures that all decisions are taken for the long term, and collectively and individually aims to always uphold the highest standard of conduct. Similarly, the Board acknowledges that the business can only grow and prosper over the long term if it understands and respects the views and needs of the company’s shareholders, customers, employees, suppliers and other stakeholders to whom it is accountable, as well as the environment in which the business operates.
The CEO, together with the Group Managing Director, sets the agenda for each Board meeting to ensure that requirements of section 172 are always met and considered through a combination of the following:
In accordance with section 172 of the Companies Act 2006, each director acts in a way they consider, in good faith, would most likely promote the success of the group for the benefit of its members as a whole.
The Board ensures that all decisions are taken for the long term, and collectively and individually aims to always uphold the highest standard of conduct. Similarly, the Board acknowledges that the business can only grow and prosper over the long term if it understands and respects the views and needs of the company’s shareholders, customers, employees, suppliers and other stakeholders to whom it is accountable, as well as the environment in which the business operates.
The CEO, together with the Group Managing Director, sets the agenda for each Board meeting to ensure that requirements of section 172 are always met and considered through a combination of the following:
∙Board papers ensure that stakeholder factors are addressed, where relevant.
∙Health & Safety performance is always the first item on the agenda. Other standing agenda points include updates on operational and financial performance against objectives, including progress against budget and cash position.
∙At the time of undertaking the annual budgeting exercise, the Board considers the strategic direction of the business and how this fulfils the Group’s long-term objectives.
The Board recognises that its strategic decisions can have long-term implications for the business and its stakeholders, and these implications are assessed as a core part of the decision-making process.
Employee engagement
Attraction and retention of skilled people are core to the success of the Group. Employee engagement is extremely important to the Board, and there are several workforce engagement mechanisms in place:
Attraction and retention of skilled people are core to the success of the Group. Employee engagement is extremely important to the Board, and there are several workforce engagement mechanisms in place:
∙Employees are kept informed of performance, strategy and short-term outlook through regular news briefings and updates from members of the Board, including Town Hall presentations by the Group Managing Director to the whole company.
∙Employee engagement surveys are undertaken, with results and proposed action plans shared with the Board.
∙The Workplace Council, made up of employees and hosted by a Board member, meets monthly provides a valuable source of insights and ideas.
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KEEN & TOMS HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
∙Pay rates and benefit structures are reviewed regularly to ensure every colleague receives fair pay.
∙Employee-related topics including staff welfare, workplace morale, succession planning and promoting diverse recruitment are regular agenda items at monthly main Board meetings.
∙The group operates a Valuing Diversity and Dignity at Work Policy.
Having regard to the need to foster the company’s business relationships with suppliers, customers and others
Suppliers
The Board recognises the importance of fostering long-term, collaborative relationships with key suppliers to support the Group’s growth, innovation and sustainability, while balancing value for shareholders to ensure mutual benefit.
The Group is proud to have pioneered certifications and standards in the industry and supply chain, including the Responsible Wool Standard (RWS), which focuses on improved land management and animal welfare for British farms and farmers, and the Red Tractor assured farm standards. Hypnos has supported the Woolkeepers® initiative since 2019 to achieve these standards whilst providing British farmers a fair price for their wool. 2024 saw the RWS standard applied to 60 UK farms.
The Group Managing Director and other members of the senior management team (SMT) work with suppliers on projects including New Product Development, implementing new standards, and sharing experience from key initiatives. Third party guidance is introduced as needed, for example from Planet Mark, to aid continuous development programmes to benefit product, service and sustainability goals. This work is reported on and reviewed at Board and SMT meetings.
Customers
Customer obsession is one of the Group’s core values, alongside sustainable innovation, responsibility, and integrity. Customer and consumer sentiment is reflected in sales performance, which is reviewed regularly by the Board. Senior management also provides updates to the Board on their perceptions of customer sentiment and the market outlook.
Customer interests are considered in strategic decision-making across key areas, including product portfolio changes, brand image and reputation, maintaining an innovative approach to sustainability, development of IT systems to facilitate doing business with the Group, and investment in marketing.
Credit facility providers and credit reference agencies
Alongside the Group Managing Director, the Group Finance Director is responsible for managing the relationships with banks and credit rating agencies, and for the Group’s cash, debt management and financing activities. The Group Finance Director provides regular reports to the Board on these activities, including plans to ensure appropriate access to debt capital and monitoring the headroom of credit facilities.
Having regard to the impact of the company’s operations on the community and the environment
Operating sustainably and responsibly is at the heart of the Group’s values and operations, evidenced by ISO 14001 certification and a proactive approach to reducing emissions. More information can be found in the Streamlined Energy and Carbon Report.
The Group’s 6-year relationship with the Eden Project has influenced multiple areas of the business including sourcing, and linking to local conservation and community.
In addition to encouraging colleagues’ fundraising and volunteering initiatives, each year the Group supports selected national and local charity partners with monetary donations, volunteering and driving awareness .
Suppliers
The Board recognises the importance of fostering long-term, collaborative relationships with key suppliers to support the Group’s growth, innovation and sustainability, while balancing value for shareholders to ensure mutual benefit.
The Group is proud to have pioneered certifications and standards in the industry and supply chain, including the Responsible Wool Standard (RWS), which focuses on improved land management and animal welfare for British farms and farmers, and the Red Tractor assured farm standards. Hypnos has supported the Woolkeepers® initiative since 2019 to achieve these standards whilst providing British farmers a fair price for their wool. 2024 saw the RWS standard applied to 60 UK farms.
The Group Managing Director and other members of the senior management team (SMT) work with suppliers on projects including New Product Development, implementing new standards, and sharing experience from key initiatives. Third party guidance is introduced as needed, for example from Planet Mark, to aid continuous development programmes to benefit product, service and sustainability goals. This work is reported on and reviewed at Board and SMT meetings.
Customers
Customer obsession is one of the Group’s core values, alongside sustainable innovation, responsibility, and integrity. Customer and consumer sentiment is reflected in sales performance, which is reviewed regularly by the Board. Senior management also provides updates to the Board on their perceptions of customer sentiment and the market outlook.
Customer interests are considered in strategic decision-making across key areas, including product portfolio changes, brand image and reputation, maintaining an innovative approach to sustainability, development of IT systems to facilitate doing business with the Group, and investment in marketing.
Credit facility providers and credit reference agencies
Alongside the Group Managing Director, the Group Finance Director is responsible for managing the relationships with banks and credit rating agencies, and for the Group’s cash, debt management and financing activities. The Group Finance Director provides regular reports to the Board on these activities, including plans to ensure appropriate access to debt capital and monitoring the headroom of credit facilities.
Having regard to the impact of the company’s operations on the community and the environment
Operating sustainably and responsibly is at the heart of the Group’s values and operations, evidenced by ISO 14001 certification and a proactive approach to reducing emissions. More information can be found in the Streamlined Energy and Carbon Report.
The Group’s 6-year relationship with the Eden Project has influenced multiple areas of the business including sourcing, and linking to local conservation and community.
In addition to encouraging colleagues’ fundraising and volunteering initiatives, each year the Group supports selected national and local charity partners with monetary donations, volunteering and driving awareness .
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KEEN & TOMS HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
Beneficiaries have included Chiltern Rangers , The Furniture Makers’ Company benevolent fund, Pace Centre, and Youth Concern.
Streamlined Energy and Carbon Reporting
The group’s reporting period covers the 18-month period from 2 July 2023 to 31 December 2024. Energy and carbon information disclosed below relates to the 12-month period from 1 January 2024 to 31 December 2024, in line with the company’s internal energy reporting cycle. As a result, data for the period from 2 July 2023 to 31 December 2023 has not been included. The directors consider the disclosed information to provide a fair representation of the company’s energy consumption and greenhouse gas emissions. Future disclosures will be prepared on a consistent 12-month basis to ensure comparability.
This is Keen & Toms Holdings Limited’s 13th year of reporting its business carbon dioxide equivalent footprint, and its fifth year of measuring its carbon footprint with Planet Mark.
Planet Mark has calculated the carbon dioxide equivalent footprint of Keen & Toms Holdings Limited’s businesses Hypnos Limited and Hypnos Contract Beds Limited for the year ending 31 December 2024. As part of its Planet Mark certification, the Group commits to achieving a consistent and independently verified reduction in its measured carbon footprint year on year.
The highest emitting category in the 12 months to 31 December 2024 was Scope 3 Category 1: Purchased Goods and Services, accounting for 79.7% of the Group’s total market-based footprint. This is followed by Scope 3 Category 12: End-of-Life Treatment of Sold Products, representing 8.7% of total market-based footprint. Compared with the preceding 12 months, these reduced by 20% and 17% respectively.
Streamlined Energy and Carbon Reporting
The group’s reporting period covers the 18-month period from 2 July 2023 to 31 December 2024. Energy and carbon information disclosed below relates to the 12-month period from 1 January 2024 to 31 December 2024, in line with the company’s internal energy reporting cycle. As a result, data for the period from 2 July 2023 to 31 December 2023 has not been included. The directors consider the disclosed information to provide a fair representation of the company’s energy consumption and greenhouse gas emissions. Future disclosures will be prepared on a consistent 12-month basis to ensure comparability.
This is Keen & Toms Holdings Limited’s 13th year of reporting its business carbon dioxide equivalent footprint, and its fifth year of measuring its carbon footprint with Planet Mark.
Planet Mark has calculated the carbon dioxide equivalent footprint of Keen & Toms Holdings Limited’s businesses Hypnos Limited and Hypnos Contract Beds Limited for the year ending 31 December 2024. As part of its Planet Mark certification, the Group commits to achieving a consistent and independently verified reduction in its measured carbon footprint year on year.
The highest emitting category in the 12 months to 31 December 2024 was Scope 3 Category 1: Purchased Goods and Services, accounting for 79.7% of the Group’s total market-based footprint. This is followed by Scope 3 Category 12: End-of-Life Treatment of Sold Products, representing 8.7% of total market-based footprint. Compared with the preceding 12 months, these reduced by 20% and 17% respectively.
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KEEN & TOMS HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
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KEEN & TOMS HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
Energy efficiency actions
During the reporting period, the Group implemented several initiatives with the objective of reducing energy and carbon emissions. These included:
∙Closure of Castle Donnington site and transfer of operations to Princes Risborough site. According to the ESOS assessment, this is expected to save 632,876 kWh of electricity and biomass energy yearly.
∙Replacement of remaining fluorescent lighting with LED lamps and adding light sensors. This change is expected to save 25,085 kWh of electricity annually.
∙Transition of the heavy delivery fleet to Hydrotreated Vegetable Oil (HVO) or electric saving up to 60%+ of related carbon annually.
∙Introduction of a Car Scheme Policy, mandating the use of electric and hybrid vehicles as company cars to reduce emissions from fleet and business travel where feasible.
Energy efficiency approach
The Group places great importance on managing its environmental impact and reducing emissions. The business has been carbon-neutral since 2011, meaning it measures, reduces and offsets its carbon emissions so that its net carbon footprint is zero, in compliance with PAS 2060 guidance, and it holds ISO 14001 certification.
2024 saw the group integrate responsibility for sustainability and the environment not into a single role but across its leadership structure, from the board to the Senior Management Team, to achieve goals across the entire operation and up stream with partners and via supplier selection. The company’s’ core objective is to drive continuous improvement across its operations and to lead the industry in quality, sustainability, and integrity. Recent consolidation of its operations has streamlined processes and accelerated its net carbon neutral agenda.
The Group’s longstanding commitment to sustainability is reflected in areas including:
Product innovation
Over recent years, the product portfolio has been enhanced to prioritise sustainability. This includes increased use of natural, organic, and plant-based fibres. All Hypnos mattresses are foam-free, and are moving to glue-free-pocket spring systems utilising alternative bonding techniques that are fully recyclable. The Group is also launching a plant-based Hospitality mattress collection created in collaboration with the Eden Project.
Waste management
The Group operates under a strict ‘zero waste to landfill’ policy.
Product stewardship
The company enables a recycling scheme for its customers.
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KEEN & TOMS HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
The Board has overall responsibility for the management of risk and the identification of principal risks that may affect achievement of the Group’s strategic objectives. Risk management is an integral part of decision-making, with risks and mitigations evaluated regularly. The principal financial and liquidity risks identified by the Group are outlined below.
The Group’s primary financial instruments are trade debtors, trade creditors, cash at bank, overdrafts and inter-company balances. These arise directly from the Group’s trading activities and management have implemented procedures to monitor and control the liquidity and credit risks relating to the Group’s financial affairs.
Through Project Rightsize, the Group’s utilised its cash and cash equivalents to execute the accelerated change programme, funding short- term impact costs strategically over the reporting period.
Credit risk
The Group has a confidential invoice discounting facility, a specific credit insurance policy to cover credit risk, and a policy to actively review client credit scores.
Bad debts remain low, and credit control processes are reviewed regularly to ensure they are appropriate for the Group’s risk appetite.
Cash flow risk
The Group operates a detailed cash flow forecasting process and proactively seeks appropriate funding to support its ambitions. As the Group has significantly reduced its fixed costs this risk here is considered to be as minimal.
Price risk
The Group is not significantly exposed to fluctuations in commodity prices, and the diversity of its supplier base would help minimise any potential impact.
Foreign exchange risk
The Group does not use derivative financial instruments and instead relies on a natural hedge between receivables and payables in foreign currencies.
The Group’s primary financial instruments are trade debtors, trade creditors, cash at bank, overdrafts and inter-company balances. These arise directly from the Group’s trading activities and management have implemented procedures to monitor and control the liquidity and credit risks relating to the Group’s financial affairs.
Through Project Rightsize, the Group’s utilised its cash and cash equivalents to execute the accelerated change programme, funding short- term impact costs strategically over the reporting period.
Credit risk
The Group has a confidential invoice discounting facility, a specific credit insurance policy to cover credit risk, and a policy to actively review client credit scores.
Bad debts remain low, and credit control processes are reviewed regularly to ensure they are appropriate for the Group’s risk appetite.
Cash flow risk
The Group operates a detailed cash flow forecasting process and proactively seeks appropriate funding to support its ambitions. As the Group has significantly reduced its fixed costs this risk here is considered to be as minimal.
Price risk
The Group is not significantly exposed to fluctuations in commodity prices, and the diversity of its supplier base would help minimise any potential impact.
Foreign exchange risk
The Group does not use derivative financial instruments and instead relies on a natural hedge between receivables and payables in foreign currencies.
The directors use a variety of KPIs to assess group performance. The major measures are operational profitability, stock turnover days and turnover growth:
2024 2023
Operating profit/(loss) (£1,753,650) (£1,836,838)
Stock turnover days 28 15
Turnover growth/(fall) 4.6% (8.1)%
2024 2023
Operating profit/(loss) (£1,753,650) (£1,836,838)
Stock turnover days 28 15
Turnover growth/(fall) 4.6% (8.1)%
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KEEN & TOMS HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
This report was approved by the board on 1 October 2025 and signed on its behalf.
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KEEN & TOMS HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the period ended 31 December 2024.
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The loss for the 18 month period, after taxation, amounted to £1,934,942 (2023 - loss £2,288,894).
The group declared dividends of £Nil in the period (2023 - £84,984).
The directors who served during the period were:
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KEEN & TOMS HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
This is Keen and Toms Holdings Ltd's third period of business carbon footprint reporting and certification to The Planet Mark. It has calculated the carbon footprint of its Hypnos Beds Ltd, Keen & Able Ltd and Hypnos Contract Beds Ltd businesses for the period ended 26 June 2021 and set a target to reduce emissions by 5% annually. This period’s footprint includes emissions from purchased electricity, T&D losses, natural gas, biomass, propane, water, waste, fuel used by the fleet, business travel and paper usage.
The company has chosen, in accordance with section 414C of the Company's Act 2006, to set out the following information which would otherwise be required to be contained in the director's report within the strategic report:
Business review, financial risk management objectives and policies, and key performance indicators.
Business review, financial risk management objectives and policies, and key performance indicators.
Subsequent to the period end, certain subsidiaries within the Group refinanced their existing borrowing facilities, which included the remortgaging of property assets. The refinancing replaced the previous loan arrangements with new facilities on improved terms. This event occurred after the period end and does not affect the amounts recognised in the financial statements.
There are no other subsequent events that require disclosure or adjustments to the financial statements.
There are no other subsequent events that require disclosure or adjustments to the financial statements.
After the period end Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its successor Barnes Roffe Audit Limited was appointed by the directors under s485 Companies Act 2006.
This report was approved by the board on 1 October 2025 and signed on its behalf.
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KEEN & TOMS HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KEEN & TOMS HOLDINGS LIMITED
We have audited the financial statements of Keen & Toms Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the period ended 31 December 2024, which comprise the Consolidated statement of comprehensive income, the Consolidated statement of financial position, the Company statement of financial position, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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KEEN & TOMS HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KEEN & TOMS HOLDINGS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Directors' report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
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KEEN & TOMS HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KEEN & TOMS HOLDINGS 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 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 these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows:
i) Companies Act 2006.
ii) FRS 102.
iii)Tax legislation
iv)Employment legislation
v) Health and safety legislation
vi)Environmental legislation
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KEEN & TOMS HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KEEN & TOMS HOLDINGS LIMITED (CONTINUED)
The areas that we identified as being susceptible to misstatement through fraud were:
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.
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KEEN & TOMS HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KEEN & TOMS HOLDINGS LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants and Statutory Auditors
Statutory Auditors
3 Brook Business Centre
Cowley Mill Road
Middlesex
UB8 2FX
Date:
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KEEN & TOMS HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 DECEMBER 2024
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KEEN & TOMS HOLDINGS LIMITED
REGISTERED NUMBER: 06997035
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
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KEEN & TOMS HOLDINGS LIMITED
REGISTERED NUMBER: 06997035
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 October 2025.
The notes on pages 25 to 52 form part of these financial statements.
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KEEN & TOMS HOLDINGS LIMITED
REGISTERED NUMBER: 06997035
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 October 2025 .
The notes on pages 25 to 52 form part of these financial statements.
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KEEN & TOMS HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2024
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 1 JULY 2023
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KEEN & TOMS HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2024
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 1 JULY 2023
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KEEN & TOMS HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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KEEN & TOMS HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
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KEEN & TOMS HOLDINGS LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE PERIOD ENDED 31 DECEMBER 2024
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Keen & Toms Holdings Limited is a company limited by shares incorporated in England and Wales. The address of the registered office is C/O Hypnos Limited, 1 Longwick Road, Princes Risborough, Buckinghamshire, HP27 9RT.
The principal activity of the company continues to be that of a holding company of a group comprising subsidiaries that specialise in the manufacture and sale of beds and furniture.
The principal activity of the company continues to be that of a holding company of a group comprising subsidiaries that specialise in the manufacture and sale of beds and furniture.
2.Accounting policies
The financial statements have been prepared under the historical cost convention 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 and on the assumption that the company is a going concern.
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 group's accounting policies (see note 3).
The company and the group maintain their accounting records on a weekly basis. For this reason the financial statements cover the 18 month period from 2 July 2023 to 31 December 2024, being the end of the last full trading week in the period.
The following principal accounting policies have been applied:
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 group's accounting policies (see note 3).
The company and the group maintain their accounting records on a weekly basis. For this reason the financial statements cover the 18 month period from 2 July 2023 to 31 December 2024, being the end of the last full trading week in the period.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Group and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Consolidated statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Consolidated statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
During 2023, the Group closed its subsidiary freight transport business, Keen and Able Limited. The results of this discontinued operation are presented in a separate column in the consolidated financial statements, with comparative information presented accordingly.
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The directors acknowledge that the company has incurred losses in the prior two financial years. In response, the directors have undertaken a number of actions to strengthen the company’s financial position including refinancing their existing borrowing facilities, which included the remortgaging of property assets, improving debtor recoverability and implementing a comprehensive strategic review to refocus the business for long term success.
As a result of these actions, together with the company’s current trading performance and access to sufficient working capital and financing facilities, the directors have prepared forecasts which demonstrate that the company is expected to continue to meet its liabilities as they fall due for a period of not less than 12 months from the date of approval of these financial statements.
Accordingly, the directors believe that there are no material uncertainties that may cast significant doubt on the company’s ability to continue as a going concern, and the financial statements have therefore been prepared on a going concern basis.
As a result of these actions, together with the company’s current trading performance and access to sufficient working capital and financing facilities, the directors have prepared forecasts which demonstrate that the company is expected to continue to meet its liabilities as they fall due for a period of not less than 12 months from the date of approval of these financial statements.
Accordingly, the directors believe that there are no material uncertainties that may cast significant doubt on the company’s ability to continue as a going concern, and the financial statements have therefore been prepared on a going concern basis.
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Rental revenue is recognised over the length of the respective lease term.
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Consolidated satement of comprehensive income account over its useful economic life.
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Consolidated satement of comprehensive income account over its useful economic life.
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Land is not depreciated. Depreciation on other assets 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:
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 the Statement of comprehensive income.
At each reporting 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 the Consolidated statement of comprehensive income.
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The group only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Consolidated statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the group would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the Consolidated statement of financial position when there is an 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.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Consolidated statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the group would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the Consolidated statement of financial position when there is an 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.
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Functional and presentation currency
The group'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 the Consolidated statement of comprehensive income 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 Consolidated statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Consolidated statement of comprehensive income within 'other operating income'.
The group'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 the Consolidated statement of comprehensive income 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 Consolidated statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Consolidated statement of comprehensive income within 'other operating income'.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payments obligations.
The contributions are recognised as an expense in the Consolidated statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Consolidated statement of financial position. The assets of the plan are held separately from the group in independently administered funds.
The contributions are recognised as an expense in the Consolidated statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Consolidated statement of financial position. The assets of the plan are held separately from the group in independently administered funds.
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.
Grants of a revenue nature are recognised in the Consolidated statement of comprehensive income in the same period as the related expenditure.
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Provisions are charged as an expense to the Consolidated statement of comprehensive income in the period that the Group becomes aware of the obligation, and are measured at the best estimate at the Consolidated statement of financial position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Consolidated statement of financial position.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Individual freehold and leasehold properties are carried at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ
materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally
qualified valuers.
Revaluation gains and losses are recognised in other comprehensive income unless losses exceed
the previously recognised gains or reflect a clear consumption of economic benefits, in which case
the excess losses are recognised in the Consolidated statement of comprehensive income.
Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ
materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally
qualified valuers.
Revaluation gains and losses are recognised in other comprehensive income unless losses exceed
the previously recognised gains or reflect a clear consumption of economic benefits, in which case
the excess losses are recognised in the Consolidated statement of comprehensive income.
Analysis of turnover by country of destination:
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
10.Taxation (continued)
The group has trading and capital losses amounting to approximately £2,896,585 (2023 - £4,193,410) to
utilise against future profits.
utilise against future profits.
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
13.Tangible fixed assets (continued)
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Page 43
KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Page 44
KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Page 45
KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Bank loans are secured by all assets of the group.
Obligations under finance leases and hire purchase contracts are secured on the assets to which they
relate.
Disclosure of the terms and conditions attached to the non-equity shares is made in note 24.
Obligations under finance leases and hire purchase contracts are secured on the assets to which they
relate.
Disclosure of the terms and conditions attached to the non-equity shares is made in note 24.
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KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Page 47
KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Page 48
KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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Page 49
KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
The Ordinary G shares have no voting rights or dividend rights; the shares have rights to participate in a capital distribution (including on a winding-up) after priority capital payments have been made to the ordinary shareholders.
The preference shares which are in Hypnos Limited, one of the subsidiaries, are non-voting and attract an annual dividend of 4.2% payable quarterly in arrears. No premium is payable on redemption.
The Ordinary and Ordinary B shares have full voting, dividend and capital distribution rights. The shares are a separate class of share for the payment of dividends. They do not confer any rights of redemptions.
The preference shares which are in Hypnos Limited, one of the subsidiaries, are non-voting and attract an annual dividend of 4.2% payable quarterly in arrears. No premium is payable on redemption.
The Ordinary and Ordinary B shares have full voting, dividend and capital distribution rights. The shares are a separate class of share for the payment of dividends. They do not confer any rights of redemptions.
Revaluation reserve
Profit and loss account
Page 50
KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
There is an unlimited cross guarantee originally dated 26 August 2008 and updated due to new subsidiaries between the company, Keen & Toms Partnership Limited, Hypnos Limited, Hypnos Contract Beds Limited, The Furniture Recycling Company Limited, The Sheen Bed Company Limited, Keen & Able Limited and Imperial Sleep Limited over any overdraft or invoice discounting borrowings from their bankers of the respective companies. The company entered into a debenture with its bankers on 13 August 2008 providing security over all assets of the company. The total amount of borrowings in the group is £5,041,358 (2023 - £4,095,624).
The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in a separately administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £611,528 (2023 - £559,432). Contributions amounting to £128,705 (2023 - £88,674) were payable to the fund at the period end date.
Page 51
KEEN & TOMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
There are no other subsequent events that require disclosure or adjustments to the financial statements.
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