HARVEY NICHOLS AND COMPANY LIMITED

• ⚠

  Annual accounts overdue

  Due 2026-03-31.

1. HARVEY NICHOLS AND COMPANY LIMITED 1989-03-13 → present
2. DEBENHAMS HOME TEXTILES LIMITED 1984-02-08 → 1989-03-13
3. HACKREMCO (NO.145) LIMITED 1983-12-01 → 1984-02-08

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have considered the Company's business activities and risks in adopting the going concern basis of preparation for the financial statements. The going concern basis is considered to be appropriate for the following reasons. The company does not have external loan arrangements but has instead received funding from its parent company, Broad Gain (UK) Limited. The company meets its day to day working capital requirements from operational cash flows, intercompany arrangements as well as a bank overdraft facility. The Directors have prepared cash flow forecasts and performed a going concern assessment for a period of at least 12 months from the date of approval of these financial statements. In addition, the directors have prepared a reasonably plausible downside scenario which indicates that the Company will require additional funds from its parent to meet its liabilities as they fall due during the going concern assessment period. Subsequent to the balance sheet date, the parent company has received additional shareholder funding of £30,500,000 alongside a further shareholder commitment of £12,500,000 to be available to draw down over the forecast period. In addition, the Company has access to a £5,000,000 overdraft facility of which £896,000 was utilised at year end. The Directors believe that the Company is able to manage its business risks despite ongoing economic uncertainty. The Company has modelled a cautious yet realistic base, case considering the level of trading to date. The Directors have stress-tested these assumptions and have prepared a reasonably plausible downside scenario allowing for slower than expected recovery of trade and increased costs driven by inflationary pressures. Based on both the most likely base case scenario and the downside scenario the forecasts show that with the funding available from its parent, the Company is expected to be able to operate within its available facilities over the forecast period. Broad Gain (UK) Limited has indicated its intention to continue to make available such funds as are needed by the company for the period covered by the forecasts. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so. Consequently, the directors are confident that the Company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.”

Significant events

• “Company turnover decreased by 2% compared to the prior period. Trade was impacted by weak consumer confidence as a result of the cost of living crisis and the highest interest rates in 15 years. Meanwhile, the loss of tax free shopping in the UK continued to impact sales from tourists. The Company made a loss after tax of £12,924,000. Included in the loss is an impairment of an intercompany debtor of £7,631,000. This is in relation to a loan to Harvey Nichols (Beauty Bazaar) Limited. A decision was made to impair the value of the loan as Harvey Nichols (Beauty Bazaar) Limited has entered into an agreement with its landlord to surrender the lease on the Liverpool store.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

1

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -2%

  £79,724,000 → £78,167,000

• Cash

  —

  Not reported

• Net assets

  -28%

  £52,834,000 → £38,064,000

• Employees

  -8.1%

  569 → 523

• Operating profit

  -293.1%

  -£3,663,000 → -£14,400,000

• Profit before tax

  -280.5%

  -£3,414,000 → -£12,989,000

• Wages

  +9.5%

  £22,857,000 → £25,029,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers