Sanglier Limited - Limited company accounts 20.1
Sanglier Limited - Limited company accounts 20.1
REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Financial Statements |
for the Year Ended 30 April 2021 |
for |
Sanglier Limited |
Sanglier Limited (Registered number: 04577960) |
Contents of the Financial Statements |
for the Year Ended 30 April 2021 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 4 |
Profit and Loss Account | 7 |
Balance Sheet | 8 |
Statement of Changes in Equity | 9 |
Notes to the Financial Statements | 10 |
Sanglier Limited |
Company Information |
for the Year Ended 30 April 2021 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants |
The Mills |
Canal Street |
Derby |
DE1 2RJ |
Sanglier Limited (Registered number: 04577960) |
Strategic Report |
for the Year Ended 30 April 2021 |
The company's principal activity continues to be the supply of aerosol adhesives. |
REVIEW OF BUSINESS |
The company increased sales in the year by 15.2% from £16.8m to £19.4m. The increase is mainly due to greater demand from the UK market as a result of lockdown and people renovating their domestic premises. Pre-tax profits increased by £543k from £359k to £902k as a result of the extra volume of sales in the year. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The global pandemic has had a material effect on chemical companies supply chains. This has resulted in significant price increases and shortages of raw materials. The company has been passing these price increases onto their customers but this has resulted in the short term reduction in margins and a reduction in the overall demand for its products. In addition, because lockdown and the UK furlough scheme has now ended, the UK domestic market is less buoyant as people return to their workplaces. Sanglier expects this to dampen demand during 2022 and has reduced its capacity accordingly. |
Exchange rates are also a risk factor for the company as 40% of its sales are to overseas companies and also many of its raw materials are supplied from outside of the UK. It is not clear how the currency markets will react in 2022 due to significant global pressures together with varying inflationary figures per country. |
FINANCIAL INSTRUMENTS |
The company uses basic financial instruments comprising bank borrowing and invoice factoring to finance its operations. The main purpose of these financial instruments is to provide finance for the company's operations. The major areas of financial risk to the company are interest and liquidity risks. The directors review and agree policies for managing each of these risks and they are summarised below: |
Interest rate Risk |
Interest rates are currently very low and the directors do not believe that even significant increases in interest rates would have a material impact on the results of the company. |
Liquidity Risk |
The company has significant credit lines in excess of any foreseeable requirement. |
RESEARCH AND DEVELOPMENT |
Continuing investment in research and development is key to the success of the business. Through an in-house technical team, the company is able to retain control over product manufacturing methods and can readily adapt its product offering to respond swiftly to new markets and advances in techniques. |
FUTURE OUTLOOK |
The Brexit vote has meant that future trading conditions are potentially uncertain. As yet there has been no reduction in demand for the company's products although the weakness of Sterling will potentially give rise to inflationary pressures resulting in increased prices. The coronavirus pandemic is expected to last throughout next year and as yet has not had a negative effect on the performance of the company but widespread unemployment as a result of the pandemic would affect UK sales should this occur. |
ON BEHALF OF THE BOARD: |
Sanglier Limited (Registered number: 04577960) |
Report of the Directors |
for the Year Ended 30 April 2021 |
The directors present their report with the financial statements of the company for the year ended 30 April 2021. |
DIVIDENDS |
The total distribution of dividends for the year ended 30 April 2021 will be £ |
DIRECTORS |
Other changes in directors holding office are as follows: |
DISCLOSURE IN THE STRATEGIC REPORT |
The matters required to be disclosed under SI (2008) 410 Sch 7 relating to financial instruments and research and development are contained within the Strategic report as is applicable in accordance with s414C(11) of the Companies Act 2006. |
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). 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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Sanglier Limited |
Opinion |
We have audited the financial statements of Sanglier Limited (the 'company') for the year ended 30 April 2021 which comprise the Profit and Loss Account, 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 30 April 2021 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 |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
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 this gives rise to a material misstatement in the financial statements themselves. 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 |
Sanglier 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 three, 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. |
Based on our understanding of the company and industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the freight trade industry and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. Audit procedures performed by the engagement team included: |
- | Enquiry of management around actual and potential litigation and claims; |
- | Reviewing financial statement disclosures and testing to supporting documentation to assess |
compliance with applicable laws and regulations; |
- | Performing audit work over the risk of management override of controls, including testing of |
journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. |
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. |
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. |
Report of the Independent Auditors to the Members of |
Sanglier Limited |
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 |
Statutory Auditors |
Chartered Accountants |
The Mills |
Canal Street |
Derby |
DE1 2RJ |
Sanglier Limited (Registered number: 04577960) |
Profit and Loss Account |
for the Year Ended 30 April 2021 |
2021 | 2020 |
Notes | £ | £ |
TURNOVER | 3 |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
862,840 | 414,343 |
Other operating income |
OPERATING PROFIT | 5 |
Interest payable and similar expenses | 7 |
PROFIT BEFORE TAXATION |
Tax on profit | 8 |
PROFIT FOR THE FINANCIAL YEAR |
Sanglier Limited (Registered number: 04577960) |
Balance Sheet |
30 April 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 10 |
CURRENT ASSETS |
Stocks | 11 |
Debtors | 12 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 13 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
14 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 18 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 19 |
Share premium | 20 |
Retained earnings | 20 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
Sanglier Limited (Registered number: 04577960) |
Statement of Changes in Equity |
for the Year Ended 30 April 2021 |
Called up |
share | Retained | Share | Total |
capital | earnings | premium | equity |
£ | £ | £ | £ |
Balance at 1 May 2019 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - | - |
Balance at 30 April 2020 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - | - |
Balance at 30 April 2021 |
Sanglier Limited (Registered number: 04577960) |
Notes to the Financial Statements |
for the Year Ended 30 April 2021 |
1. | STATUTORY INFORMATION |
Sanglier Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemption 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. |
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 tax. Turnover is recognised when the company has transferred significant risks and reward of ownership to the buyer and it is probable that the company will receive the previously agreed amounts upon payment. These criteria are considered to be met when the goods are delivered to the buyer. |
Tangible fixed assets |
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and necessary condition for it to be capable of operating in the manner intended by management. |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life: |
Freehold property | - Straight line over 50 years |
Leasehold property | - over the period of the lease |
Plant and machinery | - 10% and 20% on cost |
Fixtures and fittings | - 10% and 20% on cost |
Computer equipment | - Straight line over 3 years |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
Government grants |
Revenue grants are recognised in the profit and loss account so as to match them with the expenditure towards which they are intended to contribute. |
Sanglier Limited (Registered number: 04577960) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
Stocks are valued at purchase invoice price on an average cost basis, which are then stated at the lower of this cost or net realisable value, after making due allowance for obsolete and slow moving items. |
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit and loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
Foreign currencies |
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Profit & Loss account. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme for its staff and a small self administered scheme for the directors. Contributions paid for the year are charged in the profit and loss account. |
Debt factoring |
The gross equivalent of debts factored is included within trade debtors with the corresponding amount relating to proceeds received from the factor included within creditors. The interest element and other factor's charges are recognised within the profit and loss account as they accrue. |
Judgements in applying accounting policies and key sources of estimation uncertainty |
Tangible fixed assets are depreciated over their useful economic lives taking in to account their residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing the asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken in to account. Residual values consider such things as future market conditions, the remaining life of the asset and projected disposal values. |
Sanglier Limited (Registered number: 04577960) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
3. | TURNOVER |
The turnover and profit before taxation are attributable to the one principal activity of the company. |
An analysis of turnover by geographical market is given below: |
2021 | 2020 |
£ | £ |
UK | 11,290,099 | 9,549,056 |
EU | 7,991,074 | 7,239,298 |
Rest of world | 131,498 | 57,432 |
4. | EMPLOYEES AND DIRECTORS |
2021 | 2020 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
2021 | 2020 |
Production and administration |
2021 | 2020 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
Information regarding the highest paid director for the year ended 30 April 2021 is as follows: |
2021 |
£ |
Emoluments etc |
Pension contributions to money purchase schemes |
5. | OPERATING PROFIT |
The operating profit is stated after charging: |
2021 | 2020 |
£ | £ |
Depreciation - owned assets |
Loss on disposal of fixed assets |
Auditors' remuneration |
Auditors' remuneration for non audit work |
Foreign exchange differences |
Sanglier Limited (Registered number: 04577960) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
6. | EXCEPTIONAL ITEMS |
2021 | 2020 |
£ | £ |
Legal settlements | 30 | 23,522 |
7. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2021 | 2020 |
£ | £ |
Bank interest |
Bank loan interest |
Interest on taxation |
8. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2021 | 2020 |
£ | £ |
Current tax: |
UK corporation tax |
UK corporation tax overpaid | - | (38,718 | ) |
Total current tax |
Deferred tax | ( |
) |
Tax on profit |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
2021 | 2020 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of |
Effects of: |
Expenses not deductible for tax purposes |
R&D tax repayments | (55,926 | ) | (38,718 | ) |
Other permanent differences | 4,279 | 7,537 |
Group relief | (16,965 | ) | (22,087 | ) |
Total tax charge | 103,313 | 16,400 |
9. | DIVIDENDS |
2021 | 2020 |
£ | £ |
Interim |
Sanglier Limited (Registered number: 04577960) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
10. | TANGIBLE FIXED ASSETS |
Freehold | Leasehold | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 May 2020 |
Additions |
Disposals |
At 30 April 2021 |
DEPRECIATION |
At 1 May 2020 |
Charge for year |
Eliminated on disposal |
At 30 April 2021 |
NET BOOK VALUE |
At 30 April 2021 |
At 30 April 2020 |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 May 2020 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2021 |
DEPRECIATION |
At 1 May 2020 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2021 |
NET BOOK VALUE |
At 30 April 2021 |
At 30 April 2020 |
11. | STOCKS |
2021 | 2020 |
£ | £ |
Raw materials |
Finished goods |
Sanglier Limited (Registered number: 04577960) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts (see note 15) |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Factoring arrangement advances | 990,258 | 739,589 |
Accrued expenses |
14. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans (see note 15) |
15. | LOANS |
An analysis of the maturity of loans is given below: |
2021 | 2020 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more than 5 years | - | 400,000 |
The bank loans expire in April 2023 and April 2026 and have interest rates of 2% and 3.95% above bank base rate respectively. Both loans are repayable by 59 payments of £4,007.74 and £29,166.56 and a final payment to repay the remaining balance. |
Sanglier Limited (Registered number: 04577960) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
16. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2021 | 2020 |
£ | £ |
Within one year |
Between one and five years |
17. | SECURED DEBTS |
The following secured debts are included within creditors: |
2021 | 2020 |
£ | £ |
Bank loans |
Bank borrowings are secured against fixed and current assets of the company. |
Factoring arrangement advances are secured against the customer debt to which they relate. |
18. | PROVISIONS FOR LIABILITIES |
2021 | 2020 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 136,000 | 82,000 |
Other provisions | - | 30 |
Deferred | Other |
tax | provisions |
£ | £ |
Balance at 1 May 2020 |
Provided during year |
Utilised during year | ( |
) |
Balance at 30 April 2021 |
19. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
Sanglier Limited (Registered number: 04577960) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
20. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 May 2020 | 1,769,534 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 30 April 2021 | 2,125,012 |
21. | ULTIMATE PARENT COMPANY |
The ultimate parent company is Sanglier Holdings Limited, a company incorporated in England and Wales. The financial statements of Sanglier Holdings Limited can be obtained from Companies House. |
22. | CONTINGENT LIABILITIES |
The company has received claims from customers on certain products totalling £2,300,000. Any successful claims are expected to be passed on to third parties. |
23. | EMPLOYEE BENEFITS |
Included in the notes to the financial statements are payments to defined contribution pension schemes. |