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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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NATURAL INSTINCT LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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FOR |
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NATURAL INSTINCT LIMITED |
NATURAL INSTINCT LIMITED (REGISTERED NUMBER: 06901981) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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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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NATURAL INSTINCT LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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2 AC Court |
High Street |
Thames Ditton |
Surrey |
KT7 0SR |
NATURAL INSTINCT LIMITED (REGISTERED NUMBER: 06901981) |
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BALANCE SHEET |
31 DECEMBER 2016 |
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31.12.16 | 31.12.15 |
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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( |
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PROVISIONS FOR LIABILITIES | 10 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Share premium | 12 |
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Retained earnings | 12 |
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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. |
NATURAL INSTINCT LIMITED (REGISTERED NUMBER: 06901981) |
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BALANCE SHEET - continued |
31 DECEMBER 2016 |
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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 on
by: |
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NATURAL INSTINCT LIMITED (REGISTERED NUMBER: 06901981) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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1. | STATUTORY INFORMATION |
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Natural Instinct Limited is a
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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 represents net invoiced sales of goods, excluding value added tax and after discounts allowed. Turnover |
is recognised when goods are sold in store or dispatched by the company. |
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Intangible assets |
Trademarks are amortised evenly over their estimated useful life of ten years. |
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Website development costs are amortised evenly over their estimated useful life of two years. |
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Intangible fixed assets |
Trademarks are amortised evenly over their estimated useful life of ten years. |
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Website development costs are amortised evenly over their estimated useful life of two years. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stock comprises goods held for resale, which are valued at the lower of cost or net realisable value. |
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Cost is based on the cost of purchase including delivery charges. |
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Net realisable value is based on estimated selling prices. |
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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. |
NATURAL INSTINCT LIMITED (REGISTERED NUMBER: 06901981) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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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. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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 |
Other |
intangible |
assets |
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COST |
At 1 January 2016 |
and 31 December 2016 |
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AMORTISATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 January 2016 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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NATURAL INSTINCT LIMITED (REGISTERED NUMBER: 06901981) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Plant and |
machinery |
etc |
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COST |
At 1 January 2016 |
and 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts (see note 9) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Bank loans |
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Hire purchase contracts (see note 9) |
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NATURAL INSTINCT LIMITED (REGISTERED NUMBER: 06901981) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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9. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
31.12.16 | 31.12.15 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable operating |
leases |
31.12.16 | 31.12.15 |
£ | £ |
Within one year |
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Between one and five years |
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10. | PROVISIONS FOR LIABILITIES |
31.12.16 | 31.12.15 |
£ | £ |
Deferred tax | 57,603 | 58,704 |
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Deferred |
tax |
£ |
Balance at 1 January 2016 |
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Credit to Income Statement during year | ( |
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Balance at 31 December 2016 |
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11. | CALLED UP SHARE CAPITAL |
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Allotted and issued: |
Number: | Class: | Nominal | 31.12.16 | 31.12.15 |
value: | £ | £ |
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Ordinary | £1 | 8 | 8 |
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12. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
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At 1 January 2016 |
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371,710 |
Profit for the year |
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At 31 December 2016 |
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775,939 |
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13. | ULTIMATE CONTROLLING PARTY |
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TFC Holding Corporation is the ultimate controlling party. This company is registered in the British Virgin Islands. |
NATURAL INSTINCT LIMITED (REGISTERED NUMBER: 06901981) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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14. | ACTION AGAINST R D BROCK AND M R MCVAY |
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During an internal investigation instigated by the Board of Natural Instinct in 2013, it was found that there was |
serious wrongdoing by R D Brock and M R McVay, the former managing directors of the company. This included |
the misappropriation of significant company funds over a period of several years, including the payment of large |
increases in salary and bonuses that were not approved or authorised by the Board. |
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R D Brock and M R McVay resigned as employees on 1 May 2013 and registered a claim in the Employment |
Tribunal claiming unfair constructive dismissal, unpaid salary and notice pay. This claim was withdrawn by R D |
Brock and M R McVay on 3 August 2016, two days prior to the first tribunal hearing. |
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R D Brock was charged by Guildford Criminal Investigation Department with several counts of fraud by false |
representation and abuse of position whilst at Natural Instinct Limited. On 11 April 2016, R D Brock pled that he |
(together with M R McVay ) was guilty of 5 counts of fraud and convicted accordingly. |
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R D Brock and M R McVay are now living in the USA and as M R McVay refuses to return to the UK to face |
criminal charges Guildford Criminal Investigation Department have commenced extradition proceedings against |
him. When M R McVay is extradited or returns voluntarily to the UK it is expected that he will be charged with |
the same offences as R D Brock and stand trial at Guildford Crown. |
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15. | FIRST TIME ADOPTION OF FRS 102 |
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The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and |
have not impacted on equity or profit or loss. |
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