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Registered number: SC504915
H GROSSMAN TRADING LIMITED
UNAUDITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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H GROSSMAN TRADING LIMITED
COMPANY INFORMATION
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H GROSSMAN TRADING LIMITED
CONTENTS
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Statement of Income and Retained Earnings
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Statement of Financial Position
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Notes to the Financial Statements
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H GROSSMAN TRADING LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Directors present their Strategic Report together with the financial statements for the period ended 31 December 2024.
The company does not trade as it is an intermediate holding company for One For Fun Limited, One For Fun (Hong Kong) Limited, One For Fun France SARL, One For Fun Scandinavia AB and One For Fun US LLC and itself is a subsidiary of Ozbozz Limited.
Principal risks and uncertainties
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The principal risk of the company is the change in value of the fixed asset investment. Through this investment the company is exposed to the underlying risks of the subsidiary undertakings. The key risk for the subsidiary undertakings derive from their supply chain. A significant amount of purchases are from outside the UK and are transacted in foreign currencies. The movement in exchange rates could therefore have an impact on gross margins. The financial risk management objectives and policies of the subsidiary undertakings are:
Credit Risk
The group is subject to credit risk. All customers who wish to trade on credit terms are subject to credit verification procedures. Receivable balances are monitored on an on-going basis and provision is made for doubtful debts where necessary. A group-wide credit insurance policy is in place to mitigate the risk of loss.
Liquidity Risk
The group manages its cash and borrowing requirements centrally to maximise interest income and minimise interest expense, whilst ensuring that the group has sufficient liquid resources to meet the operating needs to its business. The group undertakes regular reviews to ensure that adequate financing facilities are in place and that sufficient headroom exists within all facilities to cover changes in the business environment and compliance with banking covenants.
Price Risk
The group's main exposures to price risk arise from increases to purchase costs from principal suppliers. This risk is minimised as the group actively monitors purchase prices to ensure procurement is made in the most cost effective manner. The group maintains close relationships with all of its customers and suppliers to ensure continuity of supply and early communication of changes in cost base or pricing strategy.
Currency Risk
The group's principal foreign currency exposures arise from trading overseas. This risk is managed by taking out forward contracts in US dollars to ensure the costs incurred are known in advance.
Further management information within the business will highlight performance gaps and enable corrective action to be taken in areas of underperformance which impact on profitability.
Financial key performance indicators
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The Directors consider the most relevant key performance indicator to be the value of the fixed asset investment held by the company which as at 31 December 2024 was £3,290,000 (2023 - £3,290,000).
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H GROSSMAN TRADING LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The continuing activity of the company will be that of an intermediate holding company.
This report was approved by the board and signed on its behalf.
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H GROSSMAN TRADING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The profit for the year, after taxation, amounted to £NIL (2023 - £NIL).
The Directors do not recommend payment of a dividend (2023: £NIL).
The directors who served during the year were:
Qualifying third party indemnity provisions
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During the year the group maintained liability insurance for its directors and officers. This provision, which is a qualifying third party indemnity provision as defined by Section 234 of the Companies Act 2006, was in force during the period and is currently in force. Neither the group's indemnity nor insurance provides cover in the event that a director or officer is proved to have acted fraudulently or dishonestly.
Matters covered in the Strategic Report
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The Directors have included a business review and details of future developments within the Strategic Report. These form part of this report by cross reference, in accordance with Section 414C(11) of the Companies Act 2006.
Directors' responsibilities statement
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The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 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.
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H GROSSMAN TRADING LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
This report was approved by the board and signed on its behalf.
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H GROSSMAN TRADING LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Retained earnings at the beginning of the year
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Retained earnings at the end of the year
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There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of income and retained earnings.
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The notes on pages 7 to 10 form part of these financial statements.
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H GROSSMAN TRADING LIMITED
REGISTERED NUMBER: SC504915
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
For the year ended 31 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 7 to 10 form part of these financial statements.
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H GROSSMAN TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
H Grossman Trading Limited is a private company limited by shares and incorporated in Scotland under the Companies Act 2006. The address of the registered office is 3 Cambuslang Way, Gateway Office Park, Glasgow, G32 8ND.
The company has not traded during the current year or the preceding financial period.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).
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Financial Reporting Standard 102 - reduced disclosure exemptions
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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 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 11.42, 11.44 to 11.45, 11.47, 11.48(a)(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 One for Fun International Limited as at 31 December 2024 and these financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.
Investments in subsidiaries are measured at cost less accumulated impairment.
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H GROSSMAN TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.
The judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
Investments
The most critical estimates, assumptions and judgements relate to the determination of carrying value of unlisted investments measured at cost less accumulated impairment. The Directors assess the investments at each Statement of financial position date for indicators of impairment based on a variety of factors including performance of investments and any changes in the activities of the investments.
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The company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL)
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Investments in subsidiary companies
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H GROSSMAN TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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The following were subsidiary undertakings of the company:
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3 Cambuslang Way, Gateway Office Park, Glasgow, G32 8ND
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One for Fun (Hong Kong) Limited*
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Room 1103B, 11th Floor, Tower 2, South Seas Centre, 75 Mody Road, Tsim Sha Tsui, Kowloon, Hong Kong
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ZA due la Perdriere, 1 rue de la Porizi, 49500, Nyoiseau
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One for Fun Scandinavia AB*
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Videvägen 5, 746 31 Bålsta, Sweden
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8 The Green, Suite F, Dover, 19901, United States of America
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* Indirectly held through One For Fun Limited
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Allotted, called up and fully paid
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100,160 (2023 - 100,160) Ordinary shares of £1.00 each
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Profit and loss account
The profit and loss account represents cumulative profits or losses, net of dividends paid and other adjustments.
There are fixed and floating charges over all assets, property and undertakings of the company. At the 31 December 2024 the potential outstanding under these charges is £3,186,712 (2024 - £3,375,481).
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H GROSSMAN TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The company is a subsidiary of Ozbozz Limited which is incorporated in the United Kingdom. The registered office of Ozbozz Limited is Building 7 Tobar, Eye Airfield Industrial Estate, Ipswich Road, Brome, Suffolk, IP23 8AW.
Merino Industries Limited, which is incorporated in the United Kingdom, is the ultimate parent company. Merino Industries Limited is controlled by Mark Edward Colley. The registered office address is Milestone House, Milbrook, Guildford, England, GU1 3YA.
The smallest and largest group in which the results of the company are consolidated is that headed by One For Fun International Limited and consolidated group accounts are publicly available at Companies House, Crown Way, Cardiff, CF14 3UZ.
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