Company Registration No. 06901981 (England and Wales)
NATURAL INSTINCT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
PAGES FOR FILING WITH REGISTRAR
NATURAL INSTINCT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
NATURAL INSTINCT LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2018
31 December 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,000
1,333
Tangible assets
4
9,030,846
3,275,379
9,031,846
3,276,712
Current assets
Stocks
262,110
386,986
Debtors
5
620,715
1,000,860
Cash at bank and in hand
1,077,172
788,726
1,959,997
2,176,572
Creditors: amounts falling due within one year
6
(8,435,811)
(4,427,215)
Net current liabilities
(6,475,814)
(2,250,643)
Total assets less current liabilities
2,556,032
1,026,069
Provisions for liabilities
(132,872)
(56,609)
Net assets
2,423,160
969,460
Capital and reserves
Called up share capital
7
6
6
Share premium account
13,325
13,325
Capital redemption reserve
2
2
Profit and loss reserves
8
2,409,827
956,127
Total equity
2,423,160
969,460
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
NATURAL INSTINCT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2018
31 December 2018
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 17 September 2019 and are signed on its behalf by:
Mr K H Brackhaus
Director
Company Registration No. 06901981
NATURAL INSTINCT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
- 3 -
1
Accounting policies
Company information
Natural Instinct Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
5A Bear Lane, Southwark, London, SE1 0UH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
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.
1.3
Intangible fixed assets other than goodwill
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Trademarks
evenly over estimated useful life of ten years
Website & IT systems
evenly over estimated useful life of two years
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land
See below
Leasehold land and buildings
20% on cost
Plant and equipment
10% on cost, 20% on cost
Fixtures and fittings
25% reducing balance
Computers
25% reducing balance
Motor vehicles
20% on cost
Assets under construction
See below
Factory building
5% on cost
Freehold land and assets in the course of construction are not depreciated.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
NATURAL INSTINCT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks
Stock comprises goods held for resale, which are valued at the lower of cost or net realisable value. Cost is based on the cost of purchase including delivery charges. Net realisable value is based on estimated selling prices.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 50 (2017 - 50).
NATURAL INSTINCT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
- 5 -
3
Intangible fixed assets
Other
Website & IT systems
Total
£
£
£
Cost
At 1 January 2018 and 31 December 2018
3,332
32,335
35,667
Amortisation and impairment
At 1 January 2018
1,999
32,335
34,334
Amortisation charged for the year
333
-
333
At 31 December 2018
2,332
32,335
34,667
Carrying amount
At 31 December 2018
1,000
-
1,000
At 31 December 2017
1,333
-
1,333
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Assets under construction
Factory building
Total
£
£
£
£
£
Cost
At 1 January 2018
2,850,103
836,518
159,976
-
3,846,597
Additions
-
57,916
-
5,836,350
5,894,266
Transfers
-
-
(159,976)
159,976
-
At 31 December 2018
2,850,103
894,434
-
5,996,326
9,740,863
Depreciation and impairment
At 1 January 2018
38,379
532,840
-
-
571,219
Depreciation charged in the year
25,586
113,212
-
-
138,798
At 31 December 2018
63,965
646,052
-
-
710,017
Carrying amount
At 31 December 2018
2,786,138
248,382
-
5,996,326
9,030,846
At 31 December 2017
2,811,724
303,679
159,976
-
3,275,379
NATURAL INSTINCT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
- 6 -
5
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
435,489
374,395
Other debtors
185,226
626,465
620,715
1,000,860
6
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
395,342
950,844
Amounts owed to group undertakings
7,590,000
3,140,000
Corporation tax
244,676
102,805
Other taxation and social security
40,899
38,083
Other creditors
164,894
195,483
8,435,811
4,427,215
A charge has been registered at Companies House in relation to the amounts owed to TFC Holding Corporation which is shown above as amounts owed to group undertakings. This has been secured against the property Unit C, Logistics City, Lyon Way, Frimley, GU16 7ER, being all property registered at the Land Registry under title number SY856797.
7
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
6 Ordinary shares of £1 each
6
6
8
Profit and loss reserves
2018
2017
£
£
At the beginning of the year
956,127
762,614
Profit for the year
1,453,700
393,513
Share redemption or reduction
-
(200,000)
At the end of the year
2,409,827
956,127
NATURAL INSTINCT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
- 7 -
9
Parent company
TFC Holding Corporation is the ultimate controlling party. This company is registered in the British Virgin Islands.