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 2020

Hain Lifescience UK Limited

Financial Statements

Year ended 31 December 2020

Contents	Page

Statement of financial position	1

Accounting policies	2

Notes to the financial statements	4

Hain Lifescience UK Limited

Statement of Financial Position

31 December 2020

	2020		2019
Note	£	£	£

Current assets

Stocks		–	331,206
Debtors	4	9,091	161,113
Cash at bank and in hand		10,313	344,069
		--------	---------
		19,404	836,388

Creditors: amounts falling due within one year	5	9,652		2,908,166
		--------		------------
Net current assets/(liabilities)			9,752	( 2,071,778)
			-------	------------
Total assets less current liabilities			9,752	( 2,071,778)
			-------	------------

Capital and reserves

Called up share capital	637,330	637,330
Capital redemption reserve	400	400
Profit and loss account	( 627,978)	( 2,709,508)
	---------	------------
Shareholders funds/(deficit)	9,752	( 2,071,778)
	---------	------------

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 Section 1A of 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 income statement has not been delivered.

For the year ending 31 December 2020 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 .

These financial statements were approved by the board of directors and authorised for issue on 14 December 2021 , and are signed on behalf of the board by:

Mr M. C. Holmes

Director

Company registration number: 04303055

Hain Lifescience UK Limited

Accounting Policies

Year ended 31 December 2020

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.

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 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Banner Lane, Coventry, West Midlands, CV4 9GH, 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 1 (2019: 11 ).

4. Debtors

	2020	2019
	£	£
Trade debtors	8,944	152,319
Other debtors	147	8,794
	-------	---------
	9,091	161,113
	-------	---------

5. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	9,652	51,492
Amounts owed to group undertakings and undertakings in which the company has a participating interest	–	2,613,716
Social security and other taxes	–	2,951
Other creditors and accruals	–	240,007
	-------	------------
	9,652	2,908,166
	-------	------------