Mansion House Bedding Company Limited - Limited company accounts 20.1
Mansion House Bedding Company Limited - Limited company accounts 20.1
REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Audited Financial Statements for the Year Ended 31 March 2020 |
for |
The Mansion House Bedding Company |
Limited |
The Mansion House Bedding Company |
Limited (Registered number: 02575156) |
Contents of the Financial Statements |
for the Year Ended 31 March 2020 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 4 |
Report of the Independent Auditors | 6 |
Statement of Comprehensive Income | 8 |
Balance Sheet | 9 |
Statement of Changes in Equity | 10 |
Notes to the Financial Statements | 11 |
The Mansion House Bedding Company |
Limited |
Company Information |
for the Year Ended 31 March 2020 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Number Sixty One |
Alexandra Road |
Lowestoft |
Suffolk |
NR32 1PL |
The Mansion House Bedding Company |
Limited (Registered number: 02575156) |
Strategic Report |
for the Year Ended 31 March 2020 |
The directors present their strategic report for the year ended 31 March 2020. |
REVIEW OF BUSINESS |
The principal activity of the company remains the sale of beds and mattresses, along with associated products, to the contract, domestic and bespoke markets primarily within the United Kingdom as well as internationally. |
The company's turnover fell by less than 5% against prior year (2019). The company experienced a poor third quarter which can be attributed to the lead up to Brexit & the General Election. However, the company saw an influx of sales in the final quarter, but unfortunately had to close in March as a result of the Government's measures to limit the spread of COVID-19. |
With the ongoing presence of COVID-19 going into the new Financial Year, the company has postponed any future capital and non-essential expenditure that was planned and has conducted efficiency reviews in across the company as a whole to identify effective ways to continue to be profitable in the current climate. |
During the year, the company outsourced a business to run its HR compliance which has allowed the company to update all its policies and procedures whilst keeping its internal focus on the production and manufacture of its products. |
Labour costs decreased by 1.5% against prior year (2019) as the company had some natural wastage with employees and did not re-employ since the work could be completed in house by current workers. |
The company produces monthly management accounts are produced which allow the directors to act quickly on trends in operations, logistics and resources. |
PRINCIPAL RISKS AND UNCERTAINTIES |
All risks are monitored on an on-going basis by the directors and improvements/strategies are implemented as required to mitigate against such risks occurring and minimising their impact. The principle risks and uncertainties are set out below: |
Credit Risk |
The company has been able to minimise the risk of credit issues by insuring all of its debtors along with having strict credit terms with its customers which have been adhered to. |
The businesses credit control department procedures are monitored regularly as the business developed both in the domestic and international markets and this can be seen as bad debts have remained low for yet another consecutive year despite another good year's turnover. |
Cashflow Risk |
The company operates a detailed cash flow forecast and is currently working on growing different sales avenues and areas to keep the cash being generated quickly enabling the business to keep on top of its outgoings and meet future projects, demands and ambitions. |
Price Risk |
The company is continually working and communicating hard with all its suppliers to reduce the amount of price increases to reduce the effect on the businesses margins as well as minimising any potential price increases for its customers. |
KEY PERFORMANCE INDICATORS |
The company's board of directors use a variety of measures to analyse the performance of the business including gross & net profit margins, current ratios, analysis against prior year accounts and labour cost percentages. |
The Mansion House Bedding Company |
Limited (Registered number: 02575156) |
Strategic Report |
for the Year Ended 31 March 2020 |
ENVIRONMENT & HEALTH AND SAFETY |
The company is committed to supporting the environment and co-operates fully with relevant authorities to ensure that legal obligations are met. The company recycles the majority of its raw materials used in production via a third party and also employs a third party to make sure that we are up-to-date with all the health and safety regulations regarding the businesses workplace and employees. |
ON BEHALF OF THE BOARD: |
The Mansion House Bedding Company |
Limited (Registered number: 02575156) |
Report of the Directors |
for the Year Ended 31 March 2020 |
The directors present their report with the financial statements of the company for the year ended 31 March 2020. |
DIVIDENDS |
An interim dividend of £ |
The total distribution of dividends for the year ended 31 March 2020 will be £ |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2019 to the date of this report. |
Other changes in directors holding office are as follows: |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), 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 and then apply them consistently; |
- | make judgements 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 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. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
The Mansion House Bedding Company |
Limited (Registered number: 02575156) |
Report of the Directors |
for the Year Ended 31 March 2020 |
AUDITORS |
The auditors, Cunninghams Statutory Auditors, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
The Mansion House Bedding Company |
Limited |
Opinion |
We have audited the financial statements of The Mansion House Bedding Company Limited (the 'company') for the year ended 31 March 2020 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, 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: |
- | give a true and fair view of the state of the company's affairs as at 31 March 2020 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
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 UK, including the FRC'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. |
Conclusions relating to going concern |
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. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors 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. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Members of |
The Mansion House Bedding Company |
Limited |
Matters on which we are required to report by exception |
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 Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page four, 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 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. |
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 a Report of the Auditors 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 Report of the Auditors. |
Use of our 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 a Report of the Auditors 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 |
Number Sixty One |
Alexandra Road |
Lowestoft |
Suffolk |
NR32 1PL |
The Mansion House Bedding Company |
Limited (Registered number: 02575156) |
Statement of Comprehensive Income |
for the Year Ended 31 March 2020 |
31.3.20 | 31.3.19 |
Notes | £ | £ | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Distribution costs |
Administrative expenses |
3,343,832 | 3,303,277 |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
330,992 | 418,091 |
Interest payable and similar expenses | 5 |
PROFIT BEFORE TAXATION |
Tax on profit | 6 |
PROFIT FOR THE FINANCIAL YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
The Mansion House Bedding Company |
Limited (Registered number: 02575156) |
Balance Sheet |
31 March 2020 |
31.3.20 | 31.3.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
CURRENT ASSETS |
Stocks | 9 |
Debtors | 10 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 11 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
12 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 15 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 16 |
Retained earnings | 17 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
The Mansion House Bedding Company |
Limited (Registered number: 02575156) |
Statement of Changes in Equity |
for the Year Ended 31 March 2020 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 April 2018 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 March 2019 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 March 2020 |
The Mansion House Bedding Company |
Limited (Registered number: 02575156) |
Notes to the Financial Statements |
for the Year Ended 31 March 2020 |
1. | STATUTORY INFORMATION |
The Mansion House Bedding Company Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards and United Kingdom Generally Accepted Accounting Practice, which has been applied consistently, except as otherwise stated. |
Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
• | the requirements of Section 7 Statement of Cash Flows; |
• | the requirement of Section 33 Related Party Disclosures paragraph 33.7. |
The parent company of the group is Mansion House Bedding Group Limited and accounts are available from the public register at Companies House. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue is recognised when the goods are delivered to the customer. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are stated at the lower of cost and net realisable value. The cost of finished goods and work in progress includes direct labour and an attributable proportion of appropriate production overheads based on normal levels of activity. Net realisable value is based on estimated selling price, less further costs expected to be incurred to completion and disposal. Provision is made for obsolete, slow-moving or defective items where appropriate. |
The Mansion House Bedding Company |
Limited (Registered number: 02575156) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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. |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
Invoice discounting |
Where debts are invoice discounted the separate presentation treatment has been adopted. In accordance with this treatment the gross amount of the debts is included within trade debtors with the advances received from invoice discounting being shown as a liability. |
3. | EMPLOYEES AND DIRECTORS |
31.3.20 | 31.3.19 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The Mansion House Bedding Company |
Limited (Registered number: 02575156) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
3. | EMPLOYEES AND DIRECTORS - continued |
The average number of employees during the year was as follows: |
31.3.20 | 31.3.19 |
Administration | 13 | 14 |
Sales | 14 | 14 |
Manufacture | 82 | 82 |
31.3.20 | 31.3.19 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes |
Information regarding the highest paid director is as follows: |
31.3.20 | 31.3.19 |
£ | £ |
Emoluments etc |
Pension contributions to money purchase schemes |
4. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
31.3.20 | 31.3.19 |
£ | £ |
Other operating leases |
Depreciation - owned assets |
Depreciation - assets on hire purchase contracts |
(Profit)/loss on disposal of fixed assets | ( |
) |
Auditors' remuneration |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
31.3.20 | 31.3.19 |
£ | £ |
Hire purchase |
The Mansion House Bedding Company |
Limited (Registered number: 02575156) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
31.3.20 | 31.3.19 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax: |
Timing differences |
Tax on profit |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
31.3.20 | 31.3.19 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of (2019 - |
Effects of: |
Expenses not deductible for tax purposes |
Capital allowances in excess of depreciation | - | ( |
) |
Depreciation in excess of capital allowances | - |
Accrued pension contributions | (4,587 | ) | 971 |
Re-measurement of deferred tax - change of tax rate | 11,967 | - |
Total tax charge | 76,363 | 74,498 |
7. | DIVIDENDS |
31.3.20 | 31.3.19 |
£ | £ |
Ordinary shares of £1 each |
Interim |
The Mansion House Bedding Company |
Limited (Registered number: 02575156) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
8. | TANGIBLE FIXED ASSETS |
Improvements |
to | Plant and | Motor | Computer |
property | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2019 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 March 2020 |
DEPRECIATION |
At 1 April 2019 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 March 2020 |
NET BOOK VALUE |
At 31 March 2020 |
At 31 March 2019 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 April 2019 |
Additions |
Transfer to ownership | - | (235,240 | ) | (235,240 | ) |
At 31 March 2020 |
DEPRECIATION |
At 1 April 2019 |
Charge for year |
Transfer to ownership | - | (211,716 | ) | (211,716 | ) |
At 31 March 2020 |
NET BOOK VALUE |
At 31 March 2020 |
At 31 March 2019 |
9. | STOCKS |
31.3.20 | 31.3.19 |
£ | £ |
Consumables |
Raw materials |
Finished goods |
The Mansion House Bedding Company |
Limited (Registered number: 02575156) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Trade debtors |
Loan to parent company | - | 3,874,460 |
Other debtors |
Prepayments |
Trade debtors are discounted with limited recourse. |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Hire purchase contracts (see note 13) |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 208,269 | 230,269 |
Other creditors |
Directors' current accounts | - | 10,524 |
Accruals and deferred income |
12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Hire purchase contracts (see note 13) |
13. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
31.3.20 | 31.3.19 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable operating | leases |
31.3.20 | 31.3.19 |
£ | £ |
Within one year |
Between one and five years |
The Mansion House Bedding Company |
Limited (Registered number: 02575156) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
14. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.20 | 31.3.19 |
£ | £ |
Hire purchase contracts | 151,013 | 82,560 |
The company's banking facilities are secured by a charge on the assets of the company. The hire purchase liabilities are secured on the underlying assets. |
Other creditors includes an amount of £740,766 (2019: £329,046) which relates to amounts advanced under an invoice discounting facility. The balance is secured by fixed and floating charges on the assets of the company. |
15. | PROVISIONS FOR LIABILITIES |
31.3.20 | 31.3.19 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 1 April 2019 |
Accelerated capital allowances | 15,616 |
Change of tax rate | 11,967 |
Balance at 31 March 2020 |
16. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.20 | 31.3.19 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
17. | RESERVES |
Retained |
earnings |
£ |
At 1 April 2019 |
Profit for the year |
Dividends | ( |
) |
At 31 March 2020 |
18. | PENSION COMMITMENTS |
The company operates a defined contribution pension scheme and the amount committed to be paid after the year end is £16,217 (2019: £24,142). |
The Mansion House Bedding Company |
Limited (Registered number: 02575156) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
19. | ULTIMATE PARENT COMPANY |
Mansion House Bedding Group Limited is regarded by the directors as being the company's ultimate parent company. |
The parent company is Mansion House Holdings Limited. The registered office is 6 Whittle Road, Hadleigh Road Industrial Estate, Ipswich, Suffolk, IP2 0UH. |
20. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 March 2020 and 31 March 2019: |
31.3.20 | 31.3.19 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |