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Unaudited Financial Statements for the Year Ended 31 January 2020 |
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Henmores Lifestyle Ltd |
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Unaudited Financial Statements for the Year Ended 31 January 2020 |
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for |
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Henmores Lifestyle Ltd |
Henmores Lifestyle Ltd (Registered number: 10032107) |
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Contents of the Financial Statements |
for the Year Ended 31 January 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Henmores Lifestyle Ltd |
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Company Information |
for the Year Ended 31 January 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Level 7, Tower 12, |
18-22 Bridge Street, |
Spinningfields, |
Manchester |
M3 3BZ |
Henmores Lifestyle Ltd (Registered number: 10032107) |
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Balance Sheet |
31 January 2020 |
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31.1.20 | 31.1.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Henmores Lifestyle Ltd (Registered number: 10032107) |
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Balance Sheet - continued |
31 January 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
were signed on its behalf by: |
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Henmores Lifestyle Ltd (Registered number: 10032107) |
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Notes to the Financial Statements |
for the Year Ended 31 January 2020 |
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1. | STATUTORY INFORMATION |
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Henmores Lifestyle Ltd is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Henmores Lifestyle Ltd (Registered number: 10032107) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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Going concern |
The financial statements have been prepared on the going concern basis. The directors of the company have |
agreed to continue to provide financial support in order for the company to continue trading for the foreseeable |
future. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill | Website | Totals |
£ | £ | £ |
COST |
At 1 February 2019 |
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Additions |
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At 31 January 2020 |
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AMORTISATION |
At 1 February 2019 |
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Amortisation for year |
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At 31 January 2020 |
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NET BOOK VALUE |
At 31 January 2020 |
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At 31 January 2019 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
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COST |
At 1 February 2019 |
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Additions |
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At 31 January 2020 |
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DEPRECIATION |
At 1 February 2019 |
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Charge for year |
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At 31 January 2020 |
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NET BOOK VALUE |
At 31 January 2020 |
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At 31 January 2019 |
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Henmores Lifestyle Ltd (Registered number: 10032107) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.20 | 31.1.19 |
£ | £ |
Trade debtors |
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Other debtors |
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VAT |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.20 | 31.1.19 |
£ | £ |
Bank loans and overdrafts |
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Other loans |
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Trade creditors |
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Other creditors |
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Accrued expenses |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.1.20 | 31.1.19 |
£ | £ |
Amounts owed to group undertakings |
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9. | CONTINGENT LIABILITIES |
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The company has entered into a cross guarantee with the other group companies such that it will guarantee the |
bank overdraft borrowings of those other group companies should they be unable to meet their liabilities. |
At 31 January 2020 the potential liability was £270,597 (2019: £384,022) |
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The company has entered into a cross company debenture with the other group companies such that it will |
guarantee the pension loan borrowing in Young Ideas Group Limited should that company be unable to meet the |
liability. |
At 31 January 2020 the potential liability was £899,869 (2019: £847,869) |
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10. | RELATED PARTY DISCLOSURES |
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At 31 January 2020 the company owed £687,364 (2019: £599,364) to Young Ideas group Ltd and £27,036 |
(2019:£Nil) to Young Ideas Ltd, companies owned by the directors. |
All balances are repayable after one year and interest free. |
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Included in trade creditors at 31 January 2020 is an amount of £2,613 (2019:£900) owed to Young Ideas Limited |
and an amount of £18,724 (2019: £Nil) owed to Boobydoo Limited. |
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Included in trade debtors at 31 January 2020 is an amount of £Nil (2019: £1,240) owed by Greenman |
Investments LLP, an entity under common control, £4,992 (2019: £5,780) owed by Young Ideas Ltd and £720 |
(2019: £Nil) owed by Boobydoo Limited. |
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11. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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