Hain Lifescience UK Limited Filleted accounts for Companies House (small and micro)

HAIN LIFESCIENCE UK LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04303055

Hain Lifescience UK Limited

Filleted Unaudited Financial Statements

31 December 2018

Hain Lifescience UK Limited

Financial Statements

Year ended 31 December 2018

Contents	Page

Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Accounting policies	4

Notes to the financial statements	6

Hain Lifescience UK Limited

Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Hain Lifescience UK Limited

Year ended 31 December 2018

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 December 2018, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

BODDINGTON & COMPANY LIMITED Chartered Certified Accountants

3 Churchmeadows Bulford Road Shipton Bellinger Tidworth Hampshire SP9 7RL

23 September 2019

Hain Lifescience UK Limited

Statement of Financial Position

31 December 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	4		18,473	38,297

Current assets

Stocks		281,470	322,961
Debtors	5	100,162	193,366
Cash at bank and in hand		178,830	55,707
		---------	---------
		560,462	572,034

Creditors: amounts falling due within one year	6	2,264,710		1,582,142
		------------		------------
Net current liabilities			1,704,248	1,010,108
			------------	------------
Total assets less current liabilities			( 1,685,775)	( 971,811)
			------------	---------

Capital and reserves

Called up share capital	637,330	637,330
Capital redemption reserve	400	400
Profit and loss account	( 2,323,505)	( 1,609,541)
	------------	------------
Shareholders deficit	( 1,685,775)	( 971,811)
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

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

Hain Lifescience UK Limited

Statement of Financial Position (continued)

31 December 2018

These financial statements were approved by the board of directors and authorised for issue on 20 September 2019 , and are signed on behalf of the board by:

Mr D. A. Hain

Director

Company registration number: 04303055

Hain Lifescience UK Limited

Accounting Policies

Year ended 31 December 2018

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & equipment	-	20% on cost
Fixtures & fittings	-	25% on cost

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Hain Lifescience UK Limited

Notes to the Financial Statements

Year ended 31 December 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 4 Byfleet Technical Centre, Canada Road, Byfleet, Surrey, KT14 7JX, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 16 (2017: 22 ).

4. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 January 2018	525,606	49,001	574,607
Additions	–	1,759	1,759
	---------	--------	---------
At 31 December 2018	525,606	50,760	576,366
	---------	--------	---------
Depreciation
At 1 January 2018	488,851	47,459	536,310
Charge for the year	20,770	813	21,583
	---------	--------	---------
At 31 December 2018	509,621	48,272	557,893
	---------	--------	---------
Carrying amount
At 31 December 2018	15,985	2,488	18,473
	---------	--------	---------
At 31 December 2017	36,755	1,542	38,297
	---------	--------	---------

5. Debtors

	2018	2017
	£	£
Trade debtors	80,536	160,567
Other debtors	19,626	32,799
	---------	---------
	100,162	193,366
	---------	---------

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	48,188	112,409
Amounts owed to group undertakings and undertakings in which the company has a participating interest	2,183,772	1,421,339
Social security and other taxes	21,314	15,540
Other creditors and accruals	11,436	32,854
	------------	------------
	2,264,710	1,582,142
	------------	------------

7. Going concern

The financial statements have been prepared on a going concern basis although the company has a deficiency of assets at 31 December 2018 of £1,685,775 (2017: £971,811). The company is dependent upon the continuing financial support of its parent company, which has confirmed that the necessary financial support will continue to be provided, which was owed £1,968,053 at 31 December 2018 (2017: £1,330,620).