Registered number:
FOR THE YEAR ENDED 31 MARCH 2020
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HERBERT RETAIL LIMITED
COMPANY INFORMATION
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HERBERT RETAIL LIMITED
CONTENTS
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HERBERT RETAIL LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2020
The directors present their strategic review of the company for the year ended 31 March 2020.
During the year the Company's principal activities continued to be that of selling and servicing weighing, data capture and labelling solutions together with associated equipment.
The directors are pleased to report that the Company has reported an Operating Profit of £359,000. The effect of the defined benefit pension fund adjustment, which does not affect our trading profit or our cashflow, reduces this to a profit of £177,000. This is a positive result for the year, reflecting our success in focussing on our strengths as a Retail Technology Integrator and an exceptional Service Provider.
The 2019/20 year has been busy, and although margins have remained under pressure we have managed to reduce expenses despite a high level of activity. Working capital has remained broadly stable over the period from 18/19 to 19/20. However the acid ratio has also seen an improvement over the period. The Company’s financial position continues to be encumbered by the legacy of pension commitments made many years ago but there is a plan agreed with the Trustees to fund our liabilities over a reasonable period of time. Overall the directors continue to focus upon delivering excellent products and services to our customers. The Covid-19 pandemic hit predominantly after this financial year had finished, however had has an impact on trading during 2020 and into 2021. Whilst the pandemic reduced the willingness of customers to embark on large-scale projects, it has also focussed minds on newer technologies which Herbert are able to integrate, deploy and maintain. We are therefore confident that, as we come out the other side of the pandemic, we will be able to take advantage of these new projects in the pipeline.
The Company uses various financial instruments. These include items such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the Company's operations.
The existence of these financial instruments exposes the Company to a number of financial risks, primarily interest rate risk and credit risk. The Company finances its operations through a mixture of retained profits, bank borrowings and finance leases. The Company's exposure to interest rate fluctuations on its borrowings is managed by the use of both fixed and floating facilities. The principal credit risk arises from its trade debtors. In order to manage credit risk the directors set limits for customers based on a combination of payment history and third party credit references. Credit limits are reviewed on a regular basis in conjunction with debt ageing and collection history.
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HERBERT RETAIL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
The Board monitors the Company’s performance in a number of ways including key performance indicators. The key financial performance indicators together with the information for 2020 and 2019 are as follows:
Profit Before tax as a percentage of turnover 1.5% (2019 - 3%). Trade debtor days of 99 days (2019 - 72 days) Acid Ratio of 1.6 (2019 - 1.3) Financial performance is reviewed monthly, with expectations for the financial year updated accordingly. This year net profits were £174 thousand (2019: £373 thousand). The Company also uses certain non-financial indicators, the most significant of which is the number of employees.
This report was approved by the board on 31 March 2021
and signed on its behalf.
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HERBERT RETAIL LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2020
The directors present their report and the financial statements for the year ended 31 March 2020.
The directors who served during the year were:
The profit for the year, after taxation, amounted to £
174
thousand
(2019 -
£
373
thousand)
.
During the year no dividend (2019 - £Nil) was paid. The directors do not recommend payment of a final dividend.
The directors believe that there are no future developments which should be reported.
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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in Directors' Reports may differ from legislation in other jurisdictions.
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HERBERT RETAIL LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
Each of the persons who are
directors at the time when this Directors' Report is approved has confirmed that:
Since the beginning of 2020 Covid-19 (the Coronavirus) has spread rapidly around the world with increasingly drastic effects on society and the economy. While the general effects on the economy and society are negative, at the time of writing the full consequences are impossible to forsee.
Under section 487(2) of the Companies Act 2006, Price Bailey LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board on
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HERBERT RETAIL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HERBERT RETAIL LIMITED
We have audited the financial statements of Herbert Retail Limited (the 'Company') for the year ended 31 March 2020, which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the 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).
In our opinion the financial statements:
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
We draw attention to note 2.2 and note 25 in the financial statements, which describes the directors' assessment of the current and future effects of the Covid-19 pandemic on the company. As stated in note 25, they note that they have been able to set up working remotely where necessary and have been able to continue their normal service levels, and have sufficient cash resources so that they consider that the short-term financial impact will be minimal. The directors are monitoring cash flow carefully and as stated in note 2.2 are in the process of agreeing further borrowing. However, the effects of Covid-19 are subject to unprecedented levels of uncertainty of outcomes, with the full range of possible effects unknown.
Our opinion is not modified in respect of this matter.
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
∙
the directors
' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
∙
the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
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HERBERT RETAIL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HERBERT RETAIL LIMITED (CONTINUED)
The directors are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. 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.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
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HERBERT RETAIL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HERBERT RETAIL LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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.
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
Statutory Auditors
Tennyson House
Cambridge Business Park
CB4 0WZ
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HERBERT RETAIL LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2020
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2020
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HERBERT RETAIL LIMITED
REGISTERED NUMBER:
00103897
BALANCE SHEET
AS AT
31 MARCH 2020
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 11 to 29 form part of these financial statements.
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED
31 MARCH 2020
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
Herbert Retail Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. The address of the registered office is 18 Rookwood Way, Haverhill, Suffolk, CB9 8PD. The principal activity of the company continued to be that of the supply and service of weighing and labeling equipment.
2.
ACCOUNTING POLICIES
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The accounts are presented to the nearest thousand.
The following principal accounting policies have been applied:
The directors believe the actions taken in recent years to reduce the cost base and eliminate unprofitable activities puts the Company in a strong position to face the challenging market conditions ahead.
The Company's working capital is provided by a composite group bank facility over which cross guarantees are provided by the company (see note 21). The Company has generated an operating profit whilst continuing to repay bank loan and finance lease obligations as they fall due. The directors prepare financial budgets on an annual basis and monitor predicted financial performance and cash flow on a rolling monthly basis. The Company's forecasts and projections show that the Company will be able to operate within the level of its current facility. The directors are seeking to organise additional bank borrowing as the full impact of Covid-19 is unknown in a currently volatile market. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, being a period of at least 12 months from the date of approval of these financial statements, and therefore continue to adopt the going concern basis of accounting in preparing the annual financial statements. In reaching the going concern conclusion the directors have considered the impact of Covid-19 on the financials and future cash flows (see note 25). The company and group have utilised government reliefs available such as the furlough scheme. The group has also benefited from key worker status, meaning that whilst adjustments have been made to working environment, work flow has remained relatively consistent across the period since the year end.
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
2.
ACCOUNTING POLICIES (CONTINUED)
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Turnover from the sale of goods is recognised when significant risks and benefits of ownership of the product are transferred to the buyer, which may be upon shipment, completion of the product or the product being ready for delivery, based on specific contract terms. Turnover from services provided by the company is recognised when the company has performed its obligations and in exchange obtained the right to consideration.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
The company, being a subsidiary undertaking whose parent company prepares consolidated financial statements which are publicly available, is exempt from the requirement to draw up a cash flow statement.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. The valuation does not include the costs of direct labour and production overheads incurred during the assembly activities or testing of bought in units. The cost of these, or effects of any increase or reduction over the year on profit and of the movement on the stock valuation in the balance sheet is considered immaterial.
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
2.
ACCOUNTING POLICIES (CONTINUED)
Short term debtors are measured at transaction price, less any impairment
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short term creditors are measured at the transaction price.
Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
2.
ACCOUNTING POLICIES (CONTINUED)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
Defined benefit pension plan
The Company operates a defined benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.
The liability recognised in the Balance Sheet in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the balance sheet date less the fair value of plan assets at the balance sheet date (if any) out of which the obligations are to be settled.
The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments ('discount rate').
The fair value of plan assets is measured in accordance with the FRS 102 fair value hierarchy and in accordance with the Company's policy for similarly held assets. This includes the use of appropriate valuation techniques.
Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income. These amounts together with the return on plan assets, less amounts included in net interest, are disclosed as 'Remeasurement of net defined benefit liability'.
The cost of the defined benefit plan, recognised in profit or loss as employee costs, except where included in the cost of an asset, comprises:
a) the increase in net pension benefit liability arising from employee service during the period; and
b) the cost of plan introductions, benefit changes, curtailments and settlements.
The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in profit or loss as a 'finance expense'.
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance Sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Balance Sheet date.
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
2.
ACCOUNTING POLICIES (CONTINUED)
Interest income is recognised in profit or loss using the effective interest method.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Provision is made for the cost of work to be done under guarantee in respect of machines and equipment sold in the year. This provision is calculated by reference to the estimate of labour costs and materials based upon the average number of call-outs per machine, according to past experience shown by the service records.
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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. Although these estimates are based on management's best knowledge of the amount, events or actions, actual results ultimately may differ from those estimates.
Critical judgements Guarantee provision Provisions are recognised when the Company has a legal or constructive present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. When calculating the provision the directors consider the previous history of claims under such guarantees, the length of the guarantee period and the costs involved, and apply these to the goods still covered under guarantee at the year end. Other estimates and judgements Information about assumptions and estimation uncertainties that have a significant risk of resulting in material adjustments in the year ending 31 March 2020 are included in the following notes: - Measurement of defined benefit obligations (note 22).
Analysis of turnover by country of destination:
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
10.
TAXATION (CONTINUED)
Included within deferred tax is £11 thousand (2019: £241 thousand) relating to deferred tax movement on pension liability.
The company has no tax losses to carry forward (2019 - £37 thousand) to use against future trading profits.
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
Share premium account
Capital redemption reserve
Profit and loss account
The closing balance on the profit and loss account includes a £6,229 thousand (2019 - £6,206 thousand) debit, stated after deferred taxation of £1,376 thousand (2019 - £1,382 thousand), in respect of pension scheme liabilities of the group pension scheme.
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
The company has provided the following guarantees:
- guarantee of £20 thousand to HM Revenue and Customs for the import of goods (2019 - £20 thousand) - an unlimited multilateral guarantee in respect of the bank facilities and borrowings of its parent undertaking and fellow group undertakings. At 31 March 2020 these borrowings amounted to £2,594 thousand (2019 - £2,565 thousand ). The bank facility is secured by a charge over book debts and an unlimited multilateral guarantee given by the company, other group undertakings and its parent company.
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
Defined Contribution Pension Scheme
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Total contrbituions for the year amounted to £159 thousand (2019: £139 thousand). Contributions totalling £57 thousand (2019 - £38 thousand) were payable to the fund at the balance sheet date and are included in creditors. Defined Benefit Pension Scheme
The Company operates a Defined Benefit Pension Scheme.
The company operates the Herbert & Sons Limited (1974) Retirement Fund (the Scheme), a UK registered trust based pension scheme that provides defined benefits. Pension benefits are linked to the members' final pensionable salaries and service at their retirement (or date of leaving if earlier). The sponsoring employer of the Scheme is considered to be Herbert Retail Limited. The Trustees are responsible for running the Scheme in accordance with the Scheme's Trust Deed and Rules, which sets out their powers. The Trustees of the Scheme are required to act in the best interests of the beneficiaries of the Scheme.
There are two categories of pension scheme members: - Deferred members: Former employees or current employees of the Company who have accrued benefits in the Scheme, but not yet in payment - Pensioner members: in receipt of pension
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
22.
PENSION COMMITMENTS (CONTINUED)
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
22.
PENSION COMMITMENTS (CONTINUED)
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
22.
PENSION COMMITMENTS (CONTINUED)
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HERBERT RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
The ultimate parent undertaking of this company is Herbert Group Limited. Copies of the group accounts can be obtained from Herbert Group Limited, 18 Rookwood Way, Haverhill, Suffolk, CB9 8PD.
R J Herbert is the Company's ultimate controlling party by virtue of his majority shareholding in the Company's parent, Herbert Group Limited.
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